these lines from Shakespears’ Romeo and Juliet are over 400 years.
So we know this is a pretty old statement. 400 years old statement. 
Nowadays, a well-selected name for your business can make it or break it. A premium domain name is a new limited edition Lamborghini. A 3-letter .com domain name or a strong dictionary word may cost more than a new limited edition Lamborghini, in fact.
The highest price paid for a domain we could trace is Insurance.com sold at $35.6 million. Just to put things in perspective, the most expensive and coveted Lamborghini Veneno Roadster retails at $4.5 million.
Providing a fresh example, just recently in July 2018, Ice.com was sold for $3.5 million.
Domain names are seen as catalyser for your business. An investment. A gift for a serial entrepreneur or a business partner. There are few solid reasons why domain names managed to create entire industry around them, but in this piece we are investigating:

How to choose a great domain name for your business?

There are a few major characteristics, that domain names should have in order to become the boosting engine for your business’s revenue and brand awareness:
If you are not Elon Musk, naming your company Boring may lead nowhere near success. Indeed, Boring.com is taken, so you had to be Elon Musk to get away with that naming decision. A relevant domain name for your business is expected by clients and is easy to memorize due to logical connection between the essence of service and the name. Paradox is all great, but truly works for few.
Compare www.UK.Toys with www.LittleMarshans.com
Indeed, size matters in domain naming. Short names guarantee high memorability and user-friendliness to customers. It is easier to type 2 letters, than 3 letters. It’s faster to type 3 letters, than 4 letter, you get it. 
Funny incoherent letter combinations are known to catch XX XXX+ price tags and above just based on the mere length or being acronyms.
Compare www.UK.fish with a live example of a business name: www.sticklebackfish.co.uk
Contain a keyword
Placing a Keyword within the domain name does 2 miracles:

  1. lowers your ads bill
  2. Increases your SEO – putting you higher up the search.

So investing in a keyword domain or hiring a top marketer to promote a business without a keyword is the option nowadays. Not that you don’t need a marketer with a great keyword domain, but you definitely will have to try times harder to promote your business if you don’t.
www.Salon.Cheap with www.whs.nyc
Domain name should be spellable and pronounceable. 
People with long tough to spell surnames have all been there. Spelling out their surnames incorporated in email address time and time again: Ok, Its O for Oscar, B for Bravo… Ideally, your domain name will have no misspelt parts in it. It will be easy to spell and easy to pronounce.
Compare English transliteration, great for English-speaking audience: www.GasOfRussia.com with Russian transliteration: www.GazRossii.com.

Embracing domain extension diversity 

Diversity have been praised and nurtured across many spheres of our lives. Now it is the turn of Domain industry. The world is embracing the newly-concocted domain extensions, like: .news, .fish, .pizza, . buidlers, .cash etc.

Some of them sound just too good to pass by and in most cases cost much cheaper.
Compare www.Kosher.com with www.Kosher.World (sold 200K+ in 2016 vs selling at 50K now). 
Compare www.granditaliapizzavegas.com with www.grand.pizza
Indeed, dot coms are still the most expensive and coveted names there are. But only the silly sees no future in new gTLDs.