The following is an excerpt from the book Get Paid For Who You Are.

Your business name should meet as many of the following criteria as possible, bearing in mind that it’s rarely possible to satisfy all of them:

•   You are excited to tell people about it
•   It gives a sense of who you help and/or what problem you help them with
•   It’s simple, short and memorable
•  It contains at least one word that your potential customers would be searching for on the internet (known as keywords). For example, if you sell baskets, then having baskets in the name is important.
•   The domain name is available. This means no-one has already taken this name for their website. You can check this at www.Godaddy.com.

For example, let’s say Paul chooses the name “My Second Life” for his divorce-consulting business. This name meets the first few criteria: he loves it, it’s easy to remember, it describes his service of offering a new life to women going through divorce, and it’s simple, short and easy to remember. It misses out on one criteria as it doesn’t include words people are likely to be searching for such as “survive divorce”. But that’s fine — it’s hard to satisfy all the criteria.