Looking at the way the recession is hitting the economies of the world, and job insecurity is very high, it is not surprising that upper and mid level experienced employees are trying to break out to set up their own consulting businesses. Unlike when they were working in their former firms, where they have a whole team in the marketing department to help with their branding process, now, they know they have to do it all by themselves without any extra help from nowhere whatsoever. So, what are those things you need to know when you are trying to name your consulting firm? There are some questions that you need to answer and they include but not limited to the following:
Firstly, do you want to be like the rest or stand out? It is at the beginning that you decide this. You can be like other companies by checking out how they picked their names and also follow the same process. Meanwhile, do you think that is what you need? However, you could decide to take the road less taken and come up with names that have deeper meanings to the extent at which when anybody sees the name of your company they will want you to tell them more about what you do and how you come about such a wonderful name. However, the most important thing is to have a rationale for picking that name and not tell different stories to different clients when questions are raised about the name.
Secondly, have you tried other possible ways of generating names? That you have tried the functional method like combining what you do and what makes you stand out for example Philip Consult. This shows that your name is Phillip and you run a consulting firm. It is not that attractive I know. However, here are some other methods of name generation that you can try:
Think International: Do not think that your business will not grow to the extent that it becomes a global brand. So pick a name that the whole world can relate with. An example is Apple. Who does not know or eat apple?
Consider your ethics: What do you stand for asides from making profit? Do you want to unify the world through music, support the green movement by producing ecofriendly products?
Use Metaphors: with metaphor you can say a lot with less. It is a very powerful figurative device. An example could be “Hulk Securities” to show your strength.
Use Attributes: Innocent for example is a new brand that is healthy and it was named innocent because it has no sugar just made of fruits.
Invented Names: You can do this by creating a name out of an existing name. You can do this. For instance, you can name your company Peithos PR. Peithos is the Greek god of persuasion and it connotes how you are going to take charge of your clients’ narrative.
Thirdly, below are some of the things you should keep in mind when you are trying to pick a name:
Brevity: Keep it short and simple. E.g. Virgin
Spelling and Pronunciation: An example is “FCUK“. It will create problem every time it is mentioned.
Protectability: You need to pick a name that has not been used before. Trying to register Apple has a company will be a problem.
Domain availability: You can check the availability of your domain via www.namechk.com
Finally, If after all these steps have been followed you still cannot make a decision, then maybe you should just meet with friends and share some of these ideas with them. They might be able to share a new insight.