The journey of a former chess grandmaster turned serial entrepreneur has led to the realization that the domain name of a business can make or break its success. The founder and CEO of Laws.com emphasizes the importance of choosing the right domain name for a startup, as it is not just an online store but also a representation of the brand.
An example of the impact of a domain name on a business is Doorbot, which later rebranded as Ring. By changing its name to reflect its broader product line and security offerings, and investing in the domain name ring.com, the company experienced significant growth and success, eventually being acquired by Amazon for nearly a billion dollars.
When choosing a domain name for a business, the founder advises sticking to a .com extension, as it is the most intuitive and familiar to users. Additionally, he recommends selecting a domain name that clearly states what the business does, opting for one-word dictionary domains or three- to four-letter domain names that are easy to remember and brandable.
Following the radio test principles is also important, ensuring that a domain name is easily heard and spelled correctly when spoken aloud. Avoiding hyphens in domain names is recommended to prevent confusion and ensure users reach the intended website. Ultimately, a carefully chosen domain name can play a significant role in defining a business’s identity and contributing to its long-term success and growth.
