A quick Google will tell you what ‘makes a good name’ in principle – you may even generate a few via ChatGPT – only for you to face the disappointment of it being taken, or with a domain name for sale at no less than $10,000, so the search has to start all over again...

None of this even gets into the minefield of the legal due diligence required to ensure you don’t get a lovely Cease and Desist letter in the post after you’ve spent money buying all your branded merch.

The quest for the ‘perfect’ name is fraught with uncertainty, vital for success, and, at times, keeping entrepreneurs up at night. The importance of a brand name cannot be overstated; it is the first impression, a marketing tool, and an embodiment of the startup's ethos all wrapped into one… no pressure.

Can we relax a little?

The weight a brand name carries can vary significantly across industries. In finance, healthcare, and legal services, trust is the currency of choice. Here, a brand name that is entering the market with no credibility or history must evoke a sense of security, reliability, and integrity from the get-go. Strong brand names in these spaces don’t stray too far into the realm of abstraction; instead, they anchor the brand in reliability and professionalism. Investing time to ensure the name reflects these qualities without being overly generic is a delicate balancing act that can pay dividends in customer trust and loyalty.

Early in my career, I remember a startup entering into the well-established Advertising Billboard category, one with entrenched global brands that media agencies had been dealing with for years. The brand was E.K.Strauss. It launched with all the brand positioning and design of a global brand that was new to the UK but well established elsewhere, perhaps mainland Europe.

It instantly got traction and muscled out a share of the market in the UK. A few years later I met the two founders. Two 20-somethings from London with zero category experience and certainly not a business outside the UK. They said they made up E.K.Strauss  purely to sound corporate, German and established. Crazy, simple, effective. A masterclass of a new brand ‘fitting-in’ to their category naming norms.

In industries that champion innovation, such as technology, fashion, and entertainment to name a few, distinctiveness might trump attempting to find instant credibility or standing out. Here, a unique, memorable name can set a brand apart in a sea of sameness. However, by virtue of the category, your competitors are likely to have distinctive names themselves, and they’ve also had the time to establish a brand narrative around them. Startups in these arenas might benefit from investing more energy into finding a name that breaks the mould – no mean feat.

All of this is hugely over simplifying the massively complex art and science of brand nomenclature. So the advice I have – that hopefully doesn’t just add to all this noise but offers gives focus and context – is this:

1. Don’t box yourself in. You may have a single SKU or service right now, but your growth ambitions may mean you need to expand in the future. If you can avoid a rebrand and renaming in the future then that’s a win. Four years on from its rebrand and Wise is having to say Wise (formally Transfer Wise)… eeeek
2. Decide if you need a name that fits in or stands out, remembering that you won’t have millions of dollars of marketing spend to make a stand out name like ‘Apple’ mean something in the technology world. This is a good short cut to help you shortlist the territories your name can be in – or those to avoid
3. Remember the name is just the name. Your brand as you develop it will bring meaning to it. Your content, personality and marketing efforts will build the narrative you want. Just don’t make it harder on yourself and follow points one and two first

While the task of naming your startup is indeed crucial, it’s not something that should paralyse progress. Investing time and strategic thought into creating a name that aligns with your brand’s mission and target market is essential, but it's the legacy you build under that name that will ultimately define your startup's success. The perfect name, therefore, is one that you not only select carefully but also grow meticulously through your brand's journey.

Also remember, it’s worth the investment in calling in the professionals from the outset. If your business scales as you want it to and you have a future naming issue, the costs to remedy that will far exceed that upfront investment and strategic thought.

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