Lean startups, the early stage companies that use the methodology for developing businesses and products proposed by Eric Ries, can access to a specific resource: BrandBucket, a business name marketplace that includes the .com domain name and a professionally-designed starter logo.
According to Ries, startups can shorten their product development cycles by adopting hypothesis-driven experimentation, product releases, and validated learning, namely building products or services to meet early customer needs to avoid seeking huge amount of funding and (expensive) product launches.
Los Angeles, California-based BrandBucket embraced this approach via a destination where new businesses could browse for name ideas specifically chosen for brand appeal.
Founded in 2007 by CEO Margot Bushnaq, the company allows owners of brandable domain names to submit their names for consideration. Once accepted, the company helps set correct pricing while a member of its global community of designers creates a custom logo to portray what the name could look like when used for business.
Names are chosen by professional linguists and successful entrepreneurs and are priced affordably for startups (the company says significantly less than hiring a branding agency).
BrandBucket handles all this process and makes the domain name transfer easy. To date, it has named over 1000 companies, including many repeat customers among startups, entrepreneurs, creatives and small businesses.
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