1. Do you intend to get lots of business via the Internet? If so, SEO needs to be your primary consideration for name. Name words and associated words are what people will search upon. abcname.com means nothing whilst superbchoice-greatname.com will be picked up by search engines as two separate searchable words which if repeated in meta, heading and alt tags should drive you towards the front of SE pages.
2. Does “Your first thought up name” stick psychologically? I doubt abbreviations, initials or similar short formats will be received well by the brain’s amygdala and other medium/long term memory systems. Cartoons work amongst all age groups because they contain something unusual, moving and colourful. If you can get that into words you are at the beginning of the solution for an attractive name. Alphabet letters B, K, Q, V, X and Z are taken by the mammalian brain to be unusual for they are, relatively, in short use with Q and X being best for they have a visual centre.
3. Will the name clarify what you do? Your choice should create stimulation to the brain’s movement response and also have a key alpha character. Use a thesaurus for associated meanings. And don’t worry about spelling for meaning and marketing is more important. “qonstant-karriers.com”, “slinqy-undies.com” and “howiday-fwights” still convey what a business does but will narrow search engine returns and stick in people’s minds. They can form the basis of exciting artwork and logos too. Of course, don’t be too tacky.
4. Does a provisional conclusion reached from 1-3 above fit with your market place? If not, go back and redefine.
5. Take your time. The business name is a persona around which a lot of income and expenditure revolves. Do your analysis and research properly and a name will scream at you, bending your faculties with it’s blast. Or it will leave a mess in your lap for a long time!
Posted by Mike A, edited slightly by Tony Crockford