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Naming a Consulting Company

With the economy in play, many experienced mid-level and high-level professionals are starting to go it alone, using their skills to create their own futures and control their futures. For many of those who want to start a business, creating a brand name is a new phase, a complete and unknown mystery. They know they are an important part of the equation, and they may have had a full-time marketing department at their previous company. But now it’s “just-in-time,” and there’s a dearth of knowledge about how to build a successful consulting firm. Fear not. The first step in branding a consulting firm is knowing your goals. Here are four important questions to clarify your goals…

1. Do you want your company name to stand out, or does it fit you? This may seem like a trick question, but there is no right or wrong answer. Some new consultants are so concerned about being accepted in their industry, they are more comfortable with a name that sounds established and reliable, right from the start. If so, try looking up lists of others in your industry on a site like dmoz.org. You will then gain knowledge of the nomenclature used in your field. You can adapt to your feelings, as other industries have done (eg Microsoft’s Outlook, Apple’s Safari, Netscape’s Navigator, etc.) If you want to know, do something different. Look up the names of companies in your field and use the search terms. For example, if almost everyone in your organization uses proper names (sometimes called “legacy” names) then go with a metaphor (ie Jaguar, Caterpillar, Amazon, Monster, etc.) to describe your company. Or try a sound word to create a new identity (ie RedHat, OnStar, FireDog, etc.) Make sure you have reasons that explain why you chose the name, and that leads to a deeper discussion about your company.

2. Have you explored all the possibilities? Many times, new business owners get frustrated and frustrated when naming their new business, because they have only tried one or two naming strategies. Many times they created a list of real/working domain names, (for example, Custom Software Consulting) only to find that the domain names ran out. Or they’ll try familiar metaphors (ie Summit, Pinnacle, etc.) and find many companies with similar names. The key is to use multiple methods. This includes…

* Key attributes – For example, we named a staffing company BrightHire.com based on their desire to attract the brightest minds. You may see this used by company names such as SirSpeedy, EconoLodge, Priceline and Smart Cuts. Is there a major benefit you offer that you can include in your name?

* Made up names — These are preferred by consultants but proceed with caution. It’s easy to get caught up in chasing a new name and gradually changing the style and message until it becomes unintelligible. It is better to use parts of Latin words and obscure references if the name can be said and written easily. Small companies have the opportunity to deliver part of that brand message in person, over the phone, or at a business meeting. But don’t push it. If you find yourself having to write or correct spelling all the time, then you are missing out. And remember that the name can be made up and still have meaning. We named one company Claricent, because they were able to provide clear information to their customers. So you can still describe a thing, even in a made-up name. (ie Verizon = Horizon, Agilent = Agile, etc.)

* Combined Descriptive Names — These names combine company descriptive words and marry them with evocative words. Examples include companies such as Emisstar, consultants to the air conditioning industry. Major brand examples include JetBlue and CarMax. If you use this method, just make sure that your company description is one that will not change over time.

* Illustrations — Since the saying goes “a picture is worth a thousand words”, then illustrations are a great way to convey the image of several companies with one image. FourBridges Capital, for example, describes the ability of this investment bank to “close the gap” and “connect business with capital,” etc. With four great friends and four great bridges in Chattanooga, TN, this story pays off.

3. Have you put your interests first? Starting a new consultancy provides a beautiful blank page on which to build your story. Take the time to find out what is most important in the story.

*Do you want a memorable name?

* Do you need a name that is easy to pronounce and pronounce?

* Are you very sensitive to the brand?

* Do you insist on having a real matching.com domain name? Identify the key driver(s) behind your naming problem, so that when you get down to the final list, you can look back and choose the one that best meets your needs. Often the process can become foggy and chaotic after searching for a name for a long time, and all the words start sounding the same. So make sure you know what you want before you start. Doing so will help you when it’s 3 a.m., your eyes are starting to cross, and your spouse doesn’t want to be your clipboard anymore.

4. Do you see the big picture? — Make a short list of your favorite names, and try them out. Make sure you choose people who are in your target market, or who understand good marketing. Instead of just saying names at random, make a statement about each name, so that when the name is said, it is recognized in its place. You may also want to invest in a quick logo design to showcase the brand. Most of the big names can sound better if they are spoken. Judge the whole package… the name, the complex tagline, the artwork, to get a real feel. A brand name like BearingPoint benefits when it has a logo, tag line, and story. Decide whether you want to join or stand up, use several naming strategies, prioritize your “wish list”, and test your ideas, and you’ll be on your way to the name of the consulting company. Once you’ve made your choice, make sure you run it through with your business attorney and find the same, or comparable, com domain name. Continue to integrate your brand message throughout your website, company information, collateral and advertising to strengthen your presence. If you do it right, you will have a company name that will serve you well, now and in the years to come.

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