Why is naming so hard? I can think of three reasons:

1. Names are subjective.
2. No one ever likes a name at first blush (or can imagine what meaning it will hold in the future.
3. All the good ones are already taken.

On a basic brand level, your name is your top-level identifier and the first differentiator in a crowded space, so it's important to get it right.

So even though it's a seemingly impossible task, how can you name (or rename) a company or product and be successful?

First, know what you want your name to do. Should it:

1. Stand out from competitors' names?
2. ID your key benefit?
3. Roll off the tongue?
4. Suggest an idea?

Creating the criteria for name selection is arguably the most important part of a successful naming process, because you can generate alternatives that meet that criteria, and you have a way of judging names beyond "I like it" or "I don't like it."

Whether you like a name is irrelevant. Do you think Google, as a name, wowed the venture capitalists when first presented? Did Starbucks show up as a brilliant nom de guerre upon first sighting? I don't think so. Remember, you build meaning into a name over time.

Second, lean toward memorable names over descriptive ones. New entrepreneurs often are attracted to descriptive names because they want customers to know what they do. But your name shouldn't do that heavy lifting, and it will typically be in context when customers see it. A descriptive name is generic: It does advertising for your whole industry, not just for you. And it's hard to remember.

What's easier to remember: Exquisite Events or Whistling Rabbits? Print Management or SharpDog? In each case, the new name evokes thoughts, images and feelings, leading to memorability. Your goal is for your target audience to notice the name, be intrigued by it and then remember it. A name that stands out is the way to do this. A fun, interesting name will be a better vessel for brand meaning than something flatter and more generic.

Finally, use a proven process for name generation and selection. At my agency, we start with the criteria and brainstorm literally hundreds of options. We use a variety of techniques and launching points, such as coined morphemes (making up new prefixes and suffixes) and Latin dictionaries, then select the best for vetting. We screen for such things as preliminary trademark and URL availability, internet search results and foreign language meanings, ending up with 10 to 15 strong names for client presentation. (Ideally, we would run these names by a trademark lawyer even before presentation, but real-world budgets usually don't allow for that level of due diligence.)

The fun begins with the selection process. Because it is so easy to ruin a name for someone else via an idle comment, we start the process with a silent, individual selection process. (Imagine what would have happened to Starbucks if someone had said, "Doesn't that name remind people how expensive our coffee is?" Or, before everyone had a chance to think through the name "Amazon," someone said "Won't people think of one-breasted women warriors when they are buying books online?") We hand out information about the names in application, in competitive context and with all the vetting data we've compiled.

Only after each team member has voted on his or her top three names do we open up the conversation for discussion. We focus only on the top five vote getters, since there's no value in spending time on names that didn't pass muster. People who like a specific name sell the others on why they like it, and we run each name against the criteria from the beginning of the process.

From this process, usually a group can come to consensus on which name(s) to send on to legal for approval. Don't neglect this last step--a good trademark lawyer can save you many headaches (current and future).

So good luck doing the impossible. And may your name be memorable.