New ideas or at least new points of view will surface during the process. Choose the best sketches and draw them more carefully at a larger scale - about 15 to 20 centimeters high. Now check to see if a photographic reduction to 5 millimeters still renders clear details. You may want a circular arrangement of letters. To balance the amount of text with the diameter of the circle, it may be preferable to arrange short texts in two semicircles.
Capitals usually work best, because they create a more pronounced ribbon effect.
Your name should reflect your market niche, your identity, and be able to easily reach your customer base. In most cases your own name means very little to your customers. It says nothing. If you watch a lot of TV, maybe you know of a comedian named Gallagher who breaks open watermelons with a huge wooden mallet. Beyond that Gallagher means nothing.