In this ongoing series, I am going to take you behind-the-scenes of how I launched FounderFly – and how you can duplicate my success. Some of the things I have done are innate and a little hard to explain, but for the first time, I’ll try and dissect what was going on in my head when I decided to go in this direction.
In Part I, I talked about innovation and looking outside your industry for inspiration.
Now, I’m going to tell you my process for creating a memorable name.
Your name is so important and should never be just an afterthought.
I like to go with my gut, and I have to be excited about name before I use it.
In fact, I had another name I was going to use for FounderFly.. but it never felt 100% right to me. So I went on a mission to find a better one – and didn’t nail it until about a week before launch.
We moved quickly to create a new logo and branding – however I knew it was worth the extra effort and last-minute panic.
So here you go.. my 3 steps to create your own branding, ass-kicking company or product name…
STEP 1: BRANDED VERSUS KEYWORD
I knew immediately the site should be a unique name. I didn’t want it to be called something like “Make Money Online Club” or “Internet Marketing Weekly”.
To me, they just sound a bit too generic. And it would be hard to stand out with a name like that.
Can it be done? Can you make a program like that successful? Yes, but it wasn’t in my vision of creating a program that transcends typical “internet marketing”.
I also didn’t want a completely fictional name like gozootality or motakizroo. I wanted a name that was unique, but still had some grounding in the true meaning. In other words, when someone hears the name – they will have some idea what it might be about.
STEP 2: LOOK FOR THE “ONE” HOOK WORD
The next step was to find that one big word I could hang my hat on. The “hook”.
There were a lot to choose from. And while “entrepreneur” seemed like the obvious choice, there are major issues with not only potential confusion with Entrepreneur magazine – the spelling is a nightmare.
Other choices were to go for the benefit. Works like “lifestyle” and “profit” were considered, but I didn’t feel like it really nailed what I was trying to get across.
So after literally spending a week or so going through every possible name, I finally decided on FOUNDER.
It just felt right.
I wanted this to be a place for people who want to become independent. And a “founder” of a business sounds like they are building a real business – which would keep away the “bizop seekers” (and I did NOT want this site to attract the lazy, get rich quick people).
So FOUNDER it was.. now, it was time to find another word to complement it. On to Step 3…
STEP 3: LOOKING FOR INSPIRATION
As a recap, I knew I wanted a unique name. And “Founder” would be somewhere in the name.
Next, it was time to find some inspiration.
I love, love, love words that have alliteration. So ideally, I wanted a word that started with an “F”. But what could it be?
First, I went to thesaurus.com and checkout out all the possibilities… however I didn’t find anything the really resonated with me. There were words like “freedom” and “first”, but they weren’t the right feel.
So next, I went on the search for inspiration.
This new business should feel like a company that will be mentioned in the big magazines like Inc and Fast Company. And a company that could have received millions of dollars in funding just because of the name and idea.
If you heard “The Make Money Online Club” received $15 million in funding, you’d never believe it. The name simply doesn’t match – it feels too gimmicky. And my new site is all about being real, honest and transparent.
So I headed over to a site where those type of well-founded companies are featured.. techcrunch.
After spending about an hour searching through their posts and looking for recently funded companies – I found a company that had the word “FLY” in it. The company had nothing to do with entrepreneurship (in fact, I can’t even remember the name of the company off the top of my head), so using “fly” would not lead to any confusion in my market.
I take the word I already wanted to use FOUNDER and combine it with FLY and I came up with…
I kept saying it. FounderFly. FounderFly. The feeling in my gut was immediate.
It was a brand I could create. Something I could own. And something that still gets across my mission while having the appearance of stability – along with all the fun ways I could play with the word “fly” (my title is officially the Chief SuperFly).
The moment I combined those to words, I rushed over to see if it was available as a .com name.. I did a Trademark check. It was all clear and I immediately bought it.
And the rest.. is history.
Think about what other sites and blogs you can visit for inspiration? It’s like a jigsaw puzzle with moving parts. Your job is to put that puzzle together.
I hope this post gave you some insight to my thought process.
Get out there and don’t be lazy picking the right name.
WAS THIS HELPFUL FOR YOU? READY FOR PICK A ROCKIN’ NAME?
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P.P.S. If you want to see what all the buzz is about.. go to FounderFly.com right now.