What goes into picking a small business name?

Your first name? Last name? A made-up moniker? Or perhaps a clever use of wordplay associated with your product?

Selecting a name for a small business can be fun -- as well as frustrating and time-consuming.

If an entrepreneur accidentally picks a designation already in use by a competitor, or even a name that is close, the other firm's lawyer may send a cease-and-desist demand. Yet if a small business owner makes up a word to brand the business, there's the chance that potential customers won't understand it, will mispronounce it or won't remember it at all.

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For the entrepreneur who needs a bit of naming assistance, the Small Business Administration suggests considering these questions:

How will it will look on a website, as part of a logo and on social media? Does it accurately reflect your business philosophy and culture? Is it too corporate or not corporate enough? Will it appeal to your market?Is it unique?

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In this installment of USA TODAY's Smart Small Business series, the four participants talk about what inspired them to come up with their company names.

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In future Smart Small Business videos, the participants will weigh in on these questions:

If you could go back in time and change one thing you did as you were launching your business, what would it be?

Where do you go for business advice? Is there one person, one website, one networking group or even one book that really helped you?