My company name came in a "flash" (geddit)of inspiration.
I named it after my 2 grandchildren, problem is we now have a third grandchild and Im not sure I can add her name to the list.
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I ask around too. And go through all the names I can think of, nick names, family names, pet names, things I like, etc.
Also list what the company does and see if anything comes of that. Save to say I'm not that creative when it comes to things like that though. I've no idea how the clever people think of things - especially those one word whacky domains!
We agonised for a few days over ours. We wanted something short but memorable that summed up what the site was mainly about. We also wanted something that the .com and .co.uk were both available for. I think the simpler the better in terms of a url so people find you.
I go for names that portray what the company is all about or says something about the quality of service being offered. It takes time to come up with an ideal name you have to sit down make a list, get feedback from others and with some tactful elimination you would have a name, specific to you.
I have two companies and both took some time to come up with the name.
My on-line air transport pilot recruitment company is CrewDatabase.com Ltd.
I was originally going to trade as CrewDatabase Ltd, but at the suggestion of my PR man he said register and trade as a .com, that way each time you are mentioned as a company so is your website, and companies house don't have an issue with registering in this style.
The other is actually run as a sole trader and here I trade as AV8Services and I checked and reserved the .com domain before doing anything else.
A lot depends on how you think most customers will find you. If you're a high-street shop and most business is via passing trade, your name is probably less important than your window display. If most of your business comes from Yellow Pages, then there's no need to include what you do in your name (Plumbing, Website Design etc) as you'll be in that section of the directory so everyone will know that that is what you do. If you do a lot of radio advertising or most business comes via word of mouth, then it's important that everyone knows how to spell your name (for looking up on the internet, or in the phone book). If you're called Websites 4 U, for instance, the business called Websites for You might pick up business that was destined for you.
Sometimes I find the domain first and the company or business name follows. I bought britishexpat.com and then set up British Expat Ltd.
NotDelia was a sort of impulse buy, but I get a fair bit of traffic from the name 'Delia'. I guess if they're looking for Delia Smith, they'll be disappointed with my site. I don't care - especially if they exit via an AdSense ad.
BTW, that naming tool is great fun. And scarletbird.co.uk and .com is available if anyone wants them.
Mine (I Need A Typist) is a little misleading because I am actually a Virtual Assistant rather than just a typing service, however after much research among family, friends and ex-colleagues I went with it because it is so memorable! I have had comments both ways, some people thinking it is misleading but others thinking it is genius! I fall somewhere between the two...
It's certainly a very important and difficult thing to get right.