Company naming is a major neglected area of startup investment.
Many entrepreneurs believe they either lack the capital to get professional help in naming, or believe it’s a do-it-yourself area where they can save a few bucks for the dozens of other startup expenses tugging at their wallet. They named their children after all, and that turned out well, didn’t it?
Never mind that they fail to obey the Killian Branding 14 Rules of Naming.
Naming is, unfortunately, crucially important, a permanent part of the brand narrative – so professional help is highly recommended.
When entrepreneurs resort to DIY branding, they sometimes saddle themselves with unfortunate names, logos, taglines and messaging that slows them down for years afterwards. At its worst, they’re cursed with the three-initial-name mistake or another boring swoosh orbit logo. Or both.
There are a number of other startup activities where you should not economize. We will talk about them in Step #12.