How to name your startup | WSGR Startup Basics

TL;DR

Naming a startup can be challenging, but it's important to make it unique, evoke a feeling, and consider misspelling or using prefixes/suffixes.

Transcript

hey everybody its Jason Calacanis and welcome to another edition of startup basics brought to you by our friends at wsg our that's Wilson since Eenie the great law firm that I've had a great partnership for many years with and today on the program I'm going to talk about one of the most important things you'll ever do with your startup which is nam... Read More

Key Insights

• 📛 Literal names explain what a startup does, while evocative names trigger feelings.
• 🔑 Misspelling a word or adding prefixes/suffixes can make a name unique and memorable.
• 🔑 Brainstorming using a dictionary or thesaurus can generate related words and concepts.
• 🙂 Having a slightly misspelled or different domain name is acceptable when starting out.
• 🪜 Using prefixes/suffixes can add creativity to a name.
• 🍰 Acronyms can be used to create shorter and more memorable names.
• 🦡 Being able to say the name over a bad cellphone connection is important.

Questions & Answers

Q: Why do most people struggle with naming their startup?

Naming a startup is difficult because there are legal issues, confusion with similar names, and the need to make the name unique and memorable.

Q: What are some tips for brainstorming startup names?

Using a dictionary or thesaurus can help generate related words and phrases. Misspelling a word or adding prefixes/suffixes can also make the name unique and memorable.

Q: Is it important to have a domain name that matches your startup name exactly?

It's not necessary to have a domain name that matches your startup name perfectly. You can get creative with misspelling or adding words before or after the desired name.

Q: How can you negotiate with someone who owns the domain name you want?

When negotiating, it's best to start with a friendly and humble approach, expressing your admiration for the domain name. Offer alternatives and show that you're willing to work out a deal.

Summary

In this video, Jason Calacanis discusses the process of naming a startup. He explains the importance of finding a name that is unique, evokes a feeling, and is easy to remember. Calacanis offers tips on brainstorming, using acronyms, misspelling words on purpose, and using prefixes and suffixes. He also discusses the challenges of securing domain names, trademarks, and Twitter handles. Overall, he emphasizes the need for a clean, simple, and memorable name that reflects the brand and resonates with the target audience.

Questions & Answers

Q: Why do most people do a terrible job at naming their startups?

Most people do a terrible job at naming their startups because they often fail to consider legal issues like trademarks and confusion with existing names. Additionally, many people struggle to come up with a name that effectively communicates what their startup does while also evoking a feeling or creating a unique identity.

Q: What are the pros and cons of using a literal name for a startup?

Using a literal name, such as "TV com" or "TV Guide com," can be beneficial because it clearly explains what the startup does. However, it may lack the uniqueness and memorability of a more evocative name like "Yahoo" or "Google." Literal names are more likely to resonate with people who already understand the industry, while evocative names have the potential to create a distinct brand.

Q: How did the team at Weblogs Inc come up with the name "Joystick"?

The team wanted to create a video game blog and conducted a brainstorming session where they asked everyone to suggest words related to video games. "Joystick" came up, representing the device used to play games. Since "joystick.com" was not available, they decided to misspell it deliberately and added a "q" at the end. This unique spelling helped create a memorable and recognizable name.

Q: What is the advantage of using acronyms in naming a startup?

Acronyms can be useful in creating a shorter and more memorable name for a startup. Instead of using a long, literal name like "The Unofficial Apple Weblog," the team at Weblogs Inc decided to use the acronym "tuaw." They chose a four-letter domain because short domain names were in demand at the time. This acronym became well-known as "tois" and helped establish a distinct identity for the blog.

Q: How can a reverse dictionary be useful in brainstorming a startup name?

A reverse dictionary allows users to describe a concept and receive a list of related words and phrases. This tool is similar to a brainstorming session but more efficient. For example, when searching for words related to travel, one might find "wayfarer" and "tallyman." Exploring the definitions of these words can provide inspiration for a unique and meaningful startup name.

Q: Is it acceptable to have a misspelled domain name for a startup?

It is acceptable to have a misspelled domain name for a startup, especially when starting out and funds are limited. Startups can "fake it until they make it" by using a domain name that is not perfect but still represents their brand. Over time, as the startup grows and proves its model, it can invest in a better domain name. Misspelling a word may give a startup a distinctive edge and can still be successful in terms of search engine optimization.

Q: What is the significance of using prefixes and suffixes in naming a startup?

Prefixes and suffixes can be useful in adding uniqueness to a startup name. By adding words like "report," "daily," or "news" after a word, startups can create variations that are relevant to their industry and target audience. For example, a site about wireless news could be named "Wireless Reporter" or "Wireless Thought." Examining how newspapers name their publications can provide inspiration for creative variations.

Q: How can the app space impact the branding of a startup?

The app space has introduced new possibilities for branding startups. If a domain name is not available or being used, it is possible for someone else to create an app with the same name. In such cases, the original owner of the name may have to assert their trademark rights. Startups should file for trademarks to protect their names, especially if they plan to expand into different industries. App names can be acquired by negotiating with the app creator or by purchasing the app from them.

Q: What are some considerations when it comes to securing Twitter handles?

Securing desired Twitter handles can be challenging as many premium names have already been taken. Twitter has a process for requesting the release of handles but it is not always successful. One option is to add words like "go" or "get" in front of the desired handle, or use alternative domain extensions like ".tc" or ".co" if the ".com" is not available. However, buying and selling Twitter handles is against the platform's Terms of Service, although it still happens unofficially.

Q: How can a startup name be more memorable and effective?

A startup name should be beautiful, simple, and easily remembered. It should also pass the "over a bad cellphone connection test," meaning that it can be easily communicated verbally to someone who can then type it in without any confusion. Length should be considered, as shorter names are generally easier to remember. Special attention should be given to avoiding excessive misspellings and using a name that does not require constant explanation.

Q: What are the advantages of using clean, simple names rather than wacky or difficult-to-pronounce names?

Using clean and simple names for startups is advantageous as they are easier to remember and communicate to others. Startups should aim for names that can be easily pronounced and understood over the phone, as well as having the potential for SEO optimization. Wacky or difficult-to-pronounce names may create confusion and be less likely to resonate with the target audience. A startup name should reflect the brand and be able to stand the test of time.

Takeaways

Naming a startup is a challenging task that requires careful consideration and creativity. Startups should strive for a unique, evocative, and memorable name that reflects the brand and resonates with the target audience. It is important to consider legal issues, such as trademarks and domain availability, as well as the potential for future expansion into different industries or platforms. Startups can use brainstorming sessions, acronyms, reverse dictionaries, and the use of prefixes and suffixes to generate ideas. Misspelling words deliberately or adding small variations can also create distinct and memorable names. Ultimately, a startup name should be clean, simple, and easily communicated.

Summary & Key Takeaways

• Choosing a name for your startup is crucial, as it can impact the success and branding of your company.

• Consider whether you want a literal name that explains what your startup does or an evocative name that triggers a feeling.

• Get creative with misspelling or adding prefixes/suffixes to make your name unique.