Strategies to create a good business domain name.

Keyword based domains.

It is highly possible that you want to start a website or a business that revolves around a certain keyword or a phrase that represent your field of interest. Since it is so important it may be a good starting point for finding a name. The most simple approach possible is to check if the Exact Match Domain is available. To give you an example: let's say you are really passionate about the keyword "useful advice". The exact match domain for that keyword is usefuladvice.com. I am sure you have seen a lot of websites named according to this scheme.
Pros:
This strategy can be very beneficial from the SEO point of view. Having a keyword in the domain can help you rank higher in search results for that particular phrase.
It is very easy to comprehend what the site is about just from the look of the url. It gives a very clear message for everyone who comes across you site.
Cons:
It is much more difficult to create a strong brand with a domain like this. It sounds rather generic.
In highly competitive industries names like that will be hard to remember and may be easily confused with competitions.
Keyword Plus

If you want something that is fairly professional looking yet still contains your favorite word you will have to get a bit more creative. You will have to look for a prefix or suffix that can be added to the core element of the name. It can be a word or just a single letter. This website, let's name, is an example of this strategy. By adding "let's" to the keyword we get a catchy and memorable hybrid that can easily be associated with naming, research and brainstorming.
Pros:
Since the domain still contains the important part it should be easier to rank higher in search results for that query.
If done correctly the result can be easy to brand and remember.
Cons:
It is important to make the additional part really enhance the name and use it to create something meaningful as opposed to mere adding "i" in front of or "hq" after the keyword. Unfortunately it is not easy and you may end up with something as dull as the Exact Match Domain only looking more confusing.
Unique name

This approach is relies on sheer creativity. Instead of producing a name based on existing words or phrases you can also create your own one. Names like this rarely give you a hint of what they represent but instead they offer great potential of different kind. These are the proposals that our random generator brings you.
Pros:
If you choose the right one you can be sure that the brand like this will be easy to promote and very catchy.
It is more likely that a unique name is spread through the word of mouth.
Less problems with buying a .com domain.
Cons:
May not perfectly communicate the nature of the thing it is describing.