Names truly are one of the most important aspects of the world in which we live. They are what we use to acknowledge each other, and distinguish the differences between plants, colors, shapes, and of course, businesses. When brand development, market-share, and the bottom-line are at stake, finding the perfect name for your business couldn't be more important. So, before you reach in and pull that name out of a hat, here are a few tips on how to choose the right one for your company.

Take a Look Around
Start with a simple question: "Is my name choice unique?" It's important to make sure that before you dive into other developmental stages of starting a business you confirm the name you have chosen is available and is not too similar to the name of another entity or competitor. Next, secure the domain. Now it's real!

Stand For Something
Increase the likelihood of achieving household name status by choosing a name that makes sense, and is meaningful. While meaningless names like "Bing," or "Zappos" are catchy and fun to say, they fail to tell the customer what they do. Further, branding these names can be a long and expensive road.

Allow Room for Growth
Do not limit yourself and your business by choosing a one-dimensional name. Sure, "Franky's Smoked Meats" sounds honest and traditional—a name you can trust. But what if Franky wanted to expand into the space next door to start baking cakes as well? Now he is facing a name-change, which can be expensive and confusing to customers.

Try It Out
Have you ever thought something to yourself and had it sound completely different when said aloud? Then this point needs little explanation. Try the words out. Substitute the name of your venture into a play-acted industry conversation and listen to how it sounds. You have to believe it to achieve it, after all.

Just remember that naming a business is a lot like laying the cornerstone of a building. Once it's in place, the entire foundation and structure is aligned to that original stone. If it's off, even just a bit, the rest of the building is off and the misalignment becomes amplified. Choose wisely!