I am launching a new app to make you free I am launching a new app to make you free Check it out here!
You know what takes the most time when building a Startup? Finding the freaking name and an available domain.
A year ago, I hired some amazing designers and engineers and we brainstormed around a financial product with the code name HelloFire. Fire stands for Financial Independence - Retire Early.
I loved that name and I even got the domain hellofire.co - the .com was crazy expensive and I'll never pay tons of money for a domain.
But the story doesn't end here.
I got distracted by another project of mine OMGDrops - (come on, admit it, it is a great name) and I paused HelloFire.
OMGDrops got acquired so after 15 months (based on the last git commit), I decided to continue playing around with HelloFire but it seems I never renewed my domain. That means that now, I have to find a new name - and to tell you the truth, HelloFire wasn't very descriptive of what I was building.
Here are the steps I always do when I am picking a new name for a product and domain (name reveal in the end!):
Maybe all these instructions seem too generic so below is my thoughts process when I try to find a new product name.
Any domains that contain the word invest, are immediately disqualified. Same with the following:
All of them are too boring.
To get some inspiration, I start looking at titles of famous investment books. Example:
I could play around with intelligent but it is a very long word. Let's find synonyms online!
Wise and whiz draw my attention but wise is a bit tame and whiz I don't like the z in the end. But I like the vibe. I decide to follow whiz and I end with:
There are a lot of products with Wonder in their name so I decided to research star a bit more.
Star has some color in it and some movement and it is a bit playful. Let's save it for now and head back to looking at book titles.
I like where this is going. It is descriptive and most of our audience has heard about it. By the way, your domain name doesn't have to be exactly the name of your product!
While I kept looking around books, I saw this and it took me to a different direction.
Your product name and especially your domain has to evoke something about your brand. In my case, I am building a product that helps people create wealth by following strategies that are suited for their case.
I remember also another book from the same author: David and Goliath: Underdogs, Misfits, and the Art of Battling Giants that is even close to the vibe I like. My product has a lot of community involved so misfits, underdogs are not bad ideas.
But I want to remove a little bit from the anger that these words carry. Let's save outliers and misfits and keep looking for inspiration in book titles.
Now that we have some ideas, let's try to imagine our product as a person.
My ideal customer is someone that cares a lot about their financials and they are always on the lookout for new opportunities to build wealth. They might have gotten burnt in the past by listening to people that have NO idea what are they talking about (hint: people with money usually don't know how to manage their wealth) and they hope that they can add a little bit of data in their decisions. They are explorers. They are hustlers. Builders.
The full product is going to cost $499 per year (accurate price pending) so I assume that my customers have a considerable amount in investable assets.
I am stuck and I decided to expand my search to memes - taking it even further from how traditional financial products approach their audience.
I google: money memes and some golden results come up:
Memes are a great part of my growth strategy and it fits in my customer persona.
Ok, ShowMeTheMoney is a fantastic domain but not available. What if we change it to Show me YOUR money?
The following domains are available:
I like it. It is playful (show me your money) and people get that it is about a wealth tracking app.
Now the question is to use the .app as the main domain or the .co? What do you think?
If you want to read more about how I am building HelloFire (oh sorry) ShowMeYourMoney then follow my devlog!
PS: A lot of my process comes from the amazing book Hello, my name is awesome. Check it out
- Tue 19 September 2023
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