Choosing the right name for your business can have a significant impact on your success. After all, your business name has a long-lasting impact on your marketing, branding efforts and your customers. The name you choose is what you'll be known by and that’s why creating a business name is so critical. The wrong name can cause you problems and hurdles, that see your company fail. In contrast, a clear, powerful and memorable name can be extremely helpful in your marketing and branding efforts.

You want to get it right the first time. Think about the industry you're in, what you offer, where you're located, what you're known for and create the perfect name for your business. There are a few things to consider so here are our 9 actionable tips and research proven suggestions for coming up with a business name that will stand the test of time:

1) Create a mash-up

Besides being fun and a creative way of creating a business name, the notion of combining two existing words can result in a distinct blend that’s captivating for your customer. That’s why mash-ups work surprisingly well when naming a business. Famous mashups you've heard of before are Groupon (group and coupons) and Instagram (instant camera and telegram).

Begin creating your own mash-up by writing down words associated with the industry you're in, the products you sell and the services you offer. If your business has two or more concepts, this is a great opportunity to make sure both ideas are reflected in the name.

Then try removing the last syllables of the first word and the beginning syllables of the second word. Write this newly created word down on piece of paper and look at it. Does it have character and is it easily memorable?

If it doesn't quite work and you think it needs more work, consider playing around with the spelling of the words you're using. A great example of this is Netflix, which is the play on words for internet and flicks.

2) Tell your story

Storytelling is about creating connections with other people. That’s because a great story evokes certain feelings and emotions. A great example a business name telling a story is the global ice cream company everyone loves, Ben & Jerry’s. The name of the business celebrates the successes of two men, Ben and Jerry, who never gave up on their dreams. It all started when Ben and Jerry opened their first ice cream scoop shop in a renovated gas station in Burlington, Vermont. By incorporating their names and their unique story into the name of the business, they created a product that represents hard work and dedication.

3) Appeal to your audience’s interests

A great name should create some buzz around the business and its offering. Take the example of the home improvement retailer Home Base, whose name suggests they're your 'go to' place for all things making a house a home, to its target market.

NOTE: The name of your business doesn’t have to convey an obvious meaning but it should resonate with your customers by encouraging a feeling, interest and/or memory.

4) Pick a business name that’s scalable

While there’s no way to predict what your company will look like in 5, 10, 15, 20+ years, you should choose a business name that won’t limit your entrepreneurial growth over time. You need a name that is timeless.

When coming up with a business name, avoid those that are two specific. Imagine if the skateboarding shoe company Vans picked a name focusing on footwear alone. The company wouldn't have been able to become the household name it is known for i.e clothing, accessories and backpacks. This kindly leads on to avoiding names based on a geographic location. If you plan to expand your business to other cities, countries or even continents, you don't want to be limited because of your business name or, in the case you already have a geographical location in your business name, you don't want to go through the hassle of changing your business name. Making this change can be time consuming and can confuse your customers to the point they no longer buy your products and services.

5) Nothing complicated

Choosing a business name that’s easy to say and remember will boost your brand recognition. Avoid using any words or names that are hard to spell or to pronounce as that can confuse potential customers. but at the same time, avoid being too generic; differentiate yourself from your competitors, stand out in the crowd and watch your customer list grow.

6) Consider acronyms of the name

It's a good idea to consider the acronym that you and your customers will use before you choose a business name.

But what is an acronym? An acronym is a term formed from the first letter of each word in a company's name. In fact, there are several multi-billion dollar companies that are better known by their acronym than their full name. Some of the most popular and well known ones, to date, include NASA (National Aeronautics and Space Administration), UNICEF (United Nations Children’s Fund), WHO (World Health Organisation) and WWF (World Wildlife Fund).

Though you might not want to use an abbreviation of your business name, your customers and other companies might refer to your company by its initials anyway. NOTE: Make sure you spend time to properly investigate the meaning of your chosen name’s acronym, to avoid any embarrassing results.

7) Make sure it flows in conversation

Read your business name out loud and pay attention to the way it sounds. You need to know whether it sounds good or not when said in conversation, video or audio recordings. Use the name in sentences and speak about it with those round you. Does it just roll off the tongue? If a person has a hard time pronouncing your business name, then they might be inclined to avoid talking about it all together, which is far from ideal.

8) Check the name is available

Make sure that you can take ownership of your chosen business name and that it’s not already being used by other companies. In order to do so, there are a few places you can check:

• Search engine: Turn to Google to see what comes up when you search your business' name. Additionally, if you do business internationally, check for cultural references across the countries you plan on doing business in.
• Domain registrar: It’s extremely important for every business to have an online presence, and the best way to do this is to have your very own website. When you create a website, your domain name should be closely associated with the chosen name of your business. So it’s crucial to check that the domain hasn’t already been taken by another company.
• Social media platforms: Search your business' name on social media to make sure that the name is available. Checking the availability of your Instagram handle, Facebook Business Page, and the other social media branding aspects of your future business are just as important as the domain name is.
• Your local business registration service: Lastly, check that someone else didn’t already register a business name the same as yours. You can check this by visiting your government website. If you are in the UK, click HERE.

9) Test it on people you know

An effective way to check your business name is as awesome as you think it is, reach out to your friends, family, and even your neighbours to get their thoughts. Talking with them at the early stages of your business can either give you the further inspo you need or it will give you the opportunity to have you rethink your name choice.

If you find yourself having to explain your name in a long and complex part of the conversation, consider this an undesirable outcome of what you’d want to achieve. You want your business’s name to be on the tip of everyone’s tongue, so it should be snappy and memorable without an explanation.

Creating a business name should be fun

In conclusion, be creative and enjoy the process of naming your company. Brainstorm ideas, do a process of elimination and figure out what works for you and your business. Think "can I see this name splashed across the news in a year's time?". Close your eyes and try to imagine that actually happening. This will allow you to truly see if it’s a fit for you, your customers and your industry.

Think it through before making your business name official. Remember that changing it later on - in legal documents and branding assets - will be a lot more complex than doing it right now. It's a hassle that can be avoided.

Needless to say, we trust that you are equipped with the right tools and skills to take your entrepreneurial venture to the next level. After all is said and done, no matter how you come up with your chosen business name, make sure you’re personally happy with it. If you're happy with it, you'll want to shout it from the rooftops.