Are you following the excellent new Alex Blumberg podcast series, Startup? Alex is documenting the evolution of his new podcasting company and in this episode we hear all about naming your company. If you’re new to naming this is a great introduction. Alex and Matt eventually settle on a name, Gimlet, suggested to them by the folks at Lexicon Branding who agreed to help despite there being no budget. Alex alludes to the normally hefty fee for these naming services but doesn’t mention a number. I would suggest that it would normally cost $50-75k at least, to hire someone like Lexicon. [For reference, see my 2010 post, Naming Names at 75k a Pop] Interesting to me that they meet at the NY Athletic club… members only… no jeans etc. I think that a lot of what you’re buying from a high-end branding firm is the feeling that you’ve entered an exclusive club where an elite force of genius wordists conspire to generate a magic spell that will launch your company into the zeitgeist. At the end of the day, if having spent $100k you feel like you got a great name and everyone is more or less happy with it. Maybe it was worth it.
But if you’re reading this, there’s a good chance you were forwarded here by typing a name you’re researching into your browser bar. The takeaway is that both you, and I, someone who has been naming/domaining since 2008, agree that that name is valuable. How valuable? My under-the-radar techniques for researching and acquiring great names for good prices means that most of mine are for sale in the lower to mid 4 figure range. Less than you’d probably pay for a day in the office of a high-end naming firm.
Or you can keep looking!
Click arrow to play audio. South Park Naming Your Startup