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Appoint a consulting company

With the economy in decline, many seasoned mid-level and senior professionals are striking out on their own, leveraging their experience to build their own futures and control their own destiny. For many of these aspiring entrepreneurs, creating a compelling brand is new territory, a complete and utter mystery. They know it’s an important part of the equation, and they may even have had a full-time marketing department at their previous company. But now is the time to “do it yourself” and there is a dearth of information on how to successfully brand a new consulting firm. Fear no more. The first step in branding a consulting firm is knowing its goals. Here are four key questions to clarify your goals…

1. Do you want your company name to stand out or fit in? This may seem like a trick question, but there is no right or wrong answer. Some new consultants are so concerned with gaining acceptance in their industry that they feel much more comfortable with a name that sounds established and credible from the start. If that’s the case, try looking for a list of others in your industry on sites like dmoz.org. Then you will get an idea of ​​the nomenclature used in your field. You may be able to emulate the feel, as other industries have done (ie Microsoft’s Outlook, Apple’s Safari, Netscape’s Navigator, etc.). If you want attention, do the exact opposite. Look at company names in your field and use interpretive naming strategies. For example, if nearly everyone in your category uses proper names (sometimes known as “legacy” names), use a metaphor (ie Jaguar, Caterpillar, Amazon, Monster, etc.) to convey your company attributes. Or try words with positive connotations to create a whole new identity (ie RedHat, OnStar, FireDog, etc.). Just make sure you have a reason that can explain why you chose that name, and one that leads to a deeper dialogue about your company.

2. Have you explored all the possibilities? New business owners often feel frustrated and discouraged when naming their new business simply because they have only tried one or two naming strategies. Many times they created a list of literal/functional names (ie custom software consulting) only to find that the domain names are gone. Or they tried some obvious metaphors (ie Summit, Pinnacle, etc.) and found dozens of companies with similar names. The trick is to employ several methods. These include…

* Key Attributes: For example, we named a staffing company BrightHire.com based on their desire to attract the brightest candidates. You can see this used with company names like SirSpeedy, EconoLodge, Priceline, and Smart Cuts. Is there an overall benefit you provide that you can incorporate into your name?

* Made-up names: This is a consultant favorite, but proceed with caution. It’s easy to get caught up in finding a new name and gradually change the spelling and message until it’s unintelligible. It’s okay to use Latin word parts and obscure references if the name can still be easily pronounced and spelled. Small businesses have the advantage of conveying part of the brand message in person, over the phone, or at a trade conference. But don’t pressure him. If you constantly have to spell or correct the spelling, then it’s a mistake. And keep in mind that the name can be made up and still have a sense of meaning. We named a company Claricent because they were able to provide clear information and direction to their customer base. So you can still pass on an attribute, even in a made up name. (i.e. Verizon=Horizon, Agilent=Agile, etc.)

* Descriptive Hybrid Names: These names combine a descriptive industry word and marry it with an evocative word. Examples include companies like Emisstar, consultancies in the emissions control industry. Examples of big brands include JetBlue and CarMax. If you use this approach, just make sure your industry descriptor doesn’t change over time.

* Metaphors – Since the proverbial saying “a picture is worth a thousand words”, metaphors are a great way to convey multiple company attributes with a single image. FourBridges Capital, for example, expresses this investment banking firm’s ability to “bridge the gap” and “connect businesses with capital,” etc. With four major partners and four major bridges in Chattanooga, TN, the story gains even more steam.

3. Have you prioritized your wishes? Starting a new consultancy provides a beautiful blank page on which to build your story. Take the time to determine what is most important in that story.

* Do you want a name that is memorable?

* Want a name that is easy to say and spell?

* Are you more concerned about the trademark?

* Are you sure you have the exact match domain name.com? Find out the key drivers behind your naming challenge, so when you get to a final list, you can look back and pick the one that meets your top criteria. Often the process can become confusing and unfocused after a long search for a name, and all the words start to sound the same. So make sure you know what you want before you start. That way, it will help you when it’s 3 am, your eyes start to cross, and your spouse doesn’t want to be your sounding board anymore.

4. Are you seeing the big picture? — Create a short list of your favorite names and then try them out. Make sure you choose people who are in your potential market or who understand a good brand. Instead of throwing out names at random, create a context for each name, so that when the name is said, it snaps into place. You may even want to invest in some quick logo treatments to help visualize the brand. Many major brands would sound sacred if they were just talked about. Judge the whole package…name, rough tagline, logo sketch, to get the real feel. A consulting name like BearingPoint gains traction once it has a logo, tagline, and story. Decide if you want to fit in or stand out, use multiple naming strategies, prioritize your “wish” list, and test your ideas, and you’ll be well on your way to a great consulting company brand. Once you make your selection, be sure to consult with your trademark attorney and purchase the com domain name that matches or is close. Continue to integrate your brand message throughout your website, corporate identity, collateral materials, and advertising to further strengthen your presence. If done correctly, you will have a business name that will serve you well, both now and for years to come.

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