You bet a name is important. Many small business owners try to come up with a clever name for their business rather than one that explains what they do. And, nine times out of ten, that is a mistake. Your business name should give your prospects some idea of what your business is about.

One of the most useful processes I've used to help my clients come up with a good name is to turn it around. Rather than looking at the name from your perspective, approach it from your prospect's perspective.

1. Identify your target market. Be specific. What are their wants and needs? Specific gender? How big are they? Do they make a certain amount of revenue? What do they look like? Draw a picture of your prospect.

2. Why should they do business with you? What are the benefits? What makes you different from all the other businesses in your industry?

Based on your answers to 1 and 2 above, brainstorm a list of words that could potentially turn into a company name. Put those combinations together and see what works best for you.

Denise O'Berry

With more than two decades of operational and management experience, Denise O'Berry has developed a sharp eye for how businesses get bloated with inefficiencies, cross-purposes and miscommunication -- and how they can retool for a sleeker, smoother, strategically focused organization.

An entrepreneur who quickly built her own successful consulting business, she helps other small business owners set priorities, take action to grow their business and create the balance they want between life and work. Her clients have ranged from telecommunications giants like Verizon to Mom-and-Pop retail shops with a primary focus on those having 10 or fewer employees and up to $2.5 million in annual sales.

Denise frequently speaks to professional organizations, is the author of three booklets, and several "how-to" manuals. She writes a weekly small business column, hosts an online small business owners forum and is called upon regularly by publications such as Entrepreneur, Bank Rate Small Business, Florida Trend, Inc., various newspapers, radio and television to provide expert comments on small business issues.