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4 Name Development Myths

As you begin the process of creating an amazing name for your company, brand, product, or just about anything else–you’re likely reading through articles providing you with more naming advice than you could ever want.

After perusing these articles, you may feel like you have a grasp on what the naming process will be like and what you should do to find the perfect name for your company.

However, there are a few commonly shared tips about naming that may actually be detrimental to your naming process.

Here at Squadhelp, we’ve worked with thousands of companies to help them find the perfect name – as a result, we’ve encountered some beliefs around naming that hurt the process more than they help.

Here we’ve outlined the four name development myths so you can avoid them in your naming process:

Myth 1: “I’ll love it when I see it”

You may imagine that finding the perfect name is like finding your soulmate – the first time you see it, you’ll immediately know it’s right. However, we’ve found that you might read past a name three or four times before realizing it’s the perfect evocative, memorable name.

Once you have a shortlist of names, don’t be frustrated if none of them feel exactly right at first read. Take your time and revisit your list regularly. After a few reads, one of the names on there might jump out at you, and you’ll wonder how you skipped over it before.

Myth 2: “I’m open to all sorts of ideas”

While it’s great to go into your naming process with an open mind, having no ideas or guidelines for the type of name you want can hinder the process. There are a lot of different types and styles of names out there, and it’s likely that many of them aren’t a good fit for how you want your company to be perceived.

Before beginning your naming process, outline your company’s mission, brand, and target audiences, and use that to determine your positioning. Use this information to narrow your focus and determine one to three key directions that you’d like to move in (e.g. I want to capture the idea that we have a powerful sales tool [SalesForce] or a unique, easy, and user-friendly Payment solution [PayPal]).

Myth 3: “I’ll build my brand around my name”

You have a great company idea and a perfect name – now, it’s time to start planning out your brand and positioning, right? While this may seem like a fail-proof plan to build your business strategy, not laying down the foundation of your business before choosing a name could spell trouble in the future.

As shown in the Squadhelp Naming Pyramid, your name rests on the top of the pyramid, supported by and representing your business strategy, brand, and positioning. Without determining those factors before deciding on a name, it’s likely that your name won’t be the perfect encapsulation of your company that it should be.

Myth 4: “I need a six-letter domain”

Short domains are certainly ideal, as they are easy to remember and easy to share. However, they are limited in number and often very expensive to acquire. As an example, Mint.com was sold in exchange for equity in the company.

Don’t get too caught up in trying to find a six letter domain name. Instead, focus on choosing a meaningful, evocative name that will help you gain recognition and get remembered.

Myth-Free Naming

Avoiding these naming pitfalls will help to ensure your naming process goes smoothly and that your new name is setting you up for success in the future. By educating yourself about these myths, you’re on your way to finding the perfect, evocative name for your business or product!