The business naming process should start before you begin generating name ideas.
There are a couple of things I recommend prior to developing name candidates that will help you determine the brand’s personality, and thus the types of names that will be most relevant.
One is to create a “brand story”. This may come from expressions of your business mission, vision, values, position and culture. It may also be more personal than that, reflecting the way you’re different from competitors. It will certainly express what you “stand for”.
Hand in glove with the brand story is the expression of “personality” you wish your brand to convey. Here you attempt to personify the brand using a series of questions.
You ask yourself several brain-stimulating questions such as: “If MY BRAND was an animal, what animal would it be?” You might relate the brand to a celebrity, sport activity, geographic feature or music type in the same manner.
Those exercises can give you some direction and inspiration, thus sparking some name candidates, too. And it will provide direction for creating other branding elements as well.