Product Names Don't Matter
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Sam Parr shares his perspective on product naming, particularly focusing on how company names rarely make or break a business's success.
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Names Rarely Matter:
- A name seldom hurts a company's chances of success
- Even poorly named companies can succeed
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Impact of Names:
- In some cases, a great name can help (e.g., Coinbase is "perfect")
- But even with a random name like "Blue Sky Sunglasses," a good business can still succeed
- Success often happens "in spite of" the name rather than because of it
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Real-World Example:
- Uses Coinbase as a case study
- Suggests that even if Coinbase had a completely unrelated name, it would still have succeeded due to its underlying business strength
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Practical Implication:
- Don't get too hung up on finding the perfect name
- Focus on building a good business instead
- The product/service quality matters more than the name
This perspective suggests a pragmatic approach to naming, emphasizing that entrepreneurs shouldn't overvalue the importance of a perfect name when building their business.
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.