Every business must create a unique brand their target audience can identify with, and it’s a critical first step before launching any idea. Although picking a name sounds fairly simple, it can be a little more complicated when you begin to consider a number of factors that contribute to a successful business name or brand.

Think long-term

Does the name you select have long-term viability or is it based on current trends? Consider how your brand might evolve over time and if these changes would affect the name you choose. Companies that change their name (or the names of their products and services) may experience an inability to attract a consistent following or might erode customer trust if the name change isn’t presented in a strategic way.

Brand-building is a broader concept than just coming up with a name. It encompasses the company’s vision and values that are shared by its target market. In many ways, branding is like the glue that holds all of a company’s components together. Successful brands develop trust with consumers that they will meet certain expectations. In that sense, the name and the brand merge on an emotional level in the customer’s mind.

A family business can last for generations once the name becomes established and associated with favorable products and services. Word-of-mouth marketing is a huge driver of communicating brand value. While a family name can become synonymous with a brand when it becomes familiar, it’s usually easier to establish a brand name that relates to the product or service. But keep in mind your business might decide to offer different or additional products at some point, and if so, your brand name will need to be flexible enough—and not be so restrictive —that it doesn’t allow for expansion.

The most successful companies can last for decades without ever changing their names. However, some businesses last only a few years. One of the main reasons companies disappear is they never get around to connecting the brand with the customer, which involves getting the right marketing messages to the right people and creating a lasting emotional connection. Brand building needs to be part of a strategic business plan or the enterprise may never even get noticed —or survive long enough to matter what it’s called.

Think in terms of the market you’re reaching and how the brand solves a problem or improves the lives of its customers. In other words, come up with a name that sum’s up the brand’s power as a solution that others in the market don’t offer.

Obtain a brand-relevant URL

Even though the Internet has been around for nearly three decades, having a DOT COM is still the gold standard for name value. Using any other top-level domain (TLD) such as DOT NET can send the wrong message. To some people it might look as though your business simply settled for an available domain because a better one was already taken. Or your business is relatively new and un-established. Despite this, it is possible to get an appropriate DOT COM with a little creativity.

One approach that’s been widely adopted is to add a word at the beginning such as ‘the’ or ‘my’ such as MyHeritage.com. Other trends have been adding or eliminating a single letter such as Tumblr or Flickr. A third idea (and one of the best) is to create a hybrid or totally unique word with the fewest number of characters that can be easily recalled and recognized. Expedia and Travelocity are two great examples of this.

Whatever the approach, your ideal name should present your unique brand value and be defined by how your products or services solve your customers’ challenges or improve their lives.

There are several free resources such as Business Name Generator, Namelix and Namesnack that help create unique business names or at least give you some thought-starters. While most short and easy-to-read domains have already been taken, with a little creativity you can find a name and URL that sets you apart.

A final consideration is whether or not you can register your business name as a Limited Liability Company (LLC) or other corporate entity within your state. Most states have online tools for searching business listings or registering a new business. You could also choose to work with an attorney who offers business-related services and consulting.

Don’t create a personality brand

Avoid naming your business after yourself if your long-term strategy includes potentially selling your business or exiting in other ways, since having your name tied to the business can cause complications. The exception to this rule would apply to artists, photographers or others in the creative space where the business is closely associated with an individual. It’s common for sole proprietors to use their names, especially if they are reputable consultants. But if your company sells products or services that are more generalized, having a business name not associated with own name will serve you better in the long run.

Name recognition is key

Just remember that marketing can get expensive and the more detailed your brand gets with various products and services, the more money you may need to spend to promote your offerings, and the harder it will be to define your unique position. The easiest route to saving marketing expenses is put all your products or services under one umbrella—that is the brand. Over time your market may begin to think of your brand as synonymous with the solutions that you sell.

Essentially a brand is like a collection of solutions that conform to the same values. An auto repair shop, for example, offers a variety of services for different problems. All of these services fit the concept of getting the driver back on the road safely. But the brand is defined by the positive or negative experiences of the customers the business serves.

Don’t take the naming of your business lightly

Business names should be thought of as important aspects of branding and not just a DBA. Think carefully about a name that can stand the test of time, gain recognition as your business grows or have flexibility to allow for new product developments or expansions. Take your time doing your research, create a list of criteria, how that criteria fulfills your vision and matches your business plan, then you’re ready to get going.