1.) It builds upon your value proposition
A great business name is built around a branding strategy and compliments your value proposition. A business that offers easy access to reliable workspace should not chose a business name that is ambiguous, such as “diligent”. It’s a great name, but it does not compliment the value proposition. Naming it Hot Desk Pro, speak to fast, easy access and professional.
2.) Separate you from the crowd
A business must allow you to stand out from competitors. It should be memorable and offer market differentiation. All the best business names are not taken. Even a play of words can be very brand rewarding. Take for example the word, Majeler, the phonetic pronunciation of modular. The spelling is cool, creative and memorable.
3.) A business name should inspire
A business name should connect with you target audience emotionally and entice you to act. Take Home Depot. The name inspires you to begin or complete a project.