Page 64 - The 7 Day Startup: You Don’t Learn Until You Launch - PDFDrive.com

Day 3 - Choose a Business Name

“It’s more effective to do something valuable than
to hope a logo or name will say it for you.”
Jason Cohen (founder of WP Engine)

The purpose of the 7 Day Startup is to help you get to launch quickly and avoid
the activities that are common distractions for early companies. There is no
better example of this than choosing a business name, something that new
entrepreneurs agonize over for weeks or months prior to launching.

There are a number of reasons why you don’t need to spend more than a day on
your business name:

1. It will distract you from what is really important, which is creating
something great. That is ultimately what matters and will be what makes or
breaks your brand.

2. Your business will probably change significantly by the time you get
established. Nintendo started out making playing cards. Tiffany’s started out
making stationery.

3. You will grow into whatever name you come up with. Most names mean
very little when they are first conceived. Steve Jobs impulsively named
Apple after the farm he dropped acid on. If that method works, then
anything goes!

4. You can change your business name down the track—often quite easily.
Even big brands have managed to do so successfully. For small, agile
startups, it can often be done for virtually zero cost in a matter of hours or
days. You are not stuck with your name for life. Google started out as
“BackRub.” Creepy.

5. Your customers don’t care.