When starting a business, naming a product or company can feel insignificant but is crucial for branding purposes. To choose an effective brand name, it's essential to consider your branding strategy, target audience, and competition. Brainstorming different options and asking the right questions can help narrow down choices. Common mistakes to avoid include choosing names that are difficult to spell or have no association with the business. Ultimately, finding a name that aligns with your branding strategy and resonates with customers is key to creating a successful brand identity.