How To Start A Business Consulting Company – So you wanted to start a consulting business and you were motivated to develop it. If you like many new business owners, you may be confused about how to name your new consulting business.
A name is the first impression people make of your business. So it should not be taken seriously. But it’s also easy to overthink and spend too much time on that one detail.
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Your consultant’s name should not be a random name that sounds good. It should be targeted and convey the right idea to your potential customers. Here are 10 best practices to keep in mind when coming up with a business name.
At first it may seem like you should add a bit of geography to your consulting name – Anaheim Consulting, London Management Group, etc.
Everyone knows where to find you. Your name may come up when people search the Internet for a consulting firm in their area.
That’s all well and good, but choosing a name based on geography will limit your reach. If you want to expand your reach to other cities or go international, such a name will also not work.
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If you choose to go the geographic route, think about what it means for the future of your business. But if you’re sure you’ll always be in the same region and don’t want to expand, then this might be a good solution for you.
Of course, there are exceptions to this rule. When you look at the top consulting firms in North America, Boston Consulting Group is near the top. But if you look at other names of top consulting firms – Deloitte, Bain & Company, Blue Matter Consulting – most of them are not related to geography.
The name of a good consultant should be remembered. But in order for the name to be memorable, it is necessary:
Just consider the names of tech giants like Google or Apple. They are short enough that most people can remember them easily. They are also easy to write and pronounce.
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If you’ve come up with overdrawn names from your brainstorming sessions, take a look at what you have and see how you can reduce it. Sometimes it’s as simple as combining two words — as Accenture did — or choosing simple substitutes that have the same meaning. Imagine if LeapPoint was called CrossOver Juncture!
Unless you have the budget to start a giant consulting firm that covers everything under the sun, you should choose a niche.
Your niche depends on your experience and what you can bring. For example, there is no point in starting an IT consulting company if you have no IT experience. But if you have spent many years in the HR field, then HR consulting may become your niche.
Your name will help communicate your niche unless you plan to expand into other niches in the future.
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If you’re having trouble coming up with a business name at first, think about your mission statement.
The mission statement should not be as short or long as the name, so you have more room for creativity. It also defines the nature of your business. If a business had a soul, it would have a mission statement.
Once you’ve determined your mission statement, you’ll have more ideas for a meaningful name. When you’re happy with something, go back to the drawing board and come up with names that convey the spirit of that mission statement.
Ultimately, your consulting business will help other businesses overcome their challenges and get closer to where they want to be. Your name should reflect this positive feeling.
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It is possible to have a brand name with negative connotations and still be successful. Think Slack, Poison perfume or Urban Decay makeup. But choosing such a name requires a lot of thought and, ultimately, courage to take the leap.
When in doubt, choose a name with a positive connotation. Consulting brands like LAP, Accountability and People Innovation have a positive and confident vibe. This helps to give potential customers a positive feeling when they first hear about you.
Popular names can do very well… in the short term. Because trends are easier to find online, using your name trends is easier.
But trends are definitely not old. If you rely on trends to fuel it, your name will instantly feel fake and outdated.
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For example, a few years ago, companies tended to remove vowels from words to make them sound weirder. Or some business owners may want to use memes to make their name more catchy. It will almost always be the other way around.
The Consulting Business Name Generator is a great tool you can use to boost your brainstorming sessions. All you have to do is enter the keyword and let the tool do its job.
While this may produce a large number of names, not all of them are winners. And even those that should not be selected without editing. Some names sound good, but don’t necessarily convey your mission statement. Other names may have been used.
Take a look at the world’s top consulting firms and you’ll find many companies using acronyms. KPGM or PwC are two good examples.
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So why protect them? Keep in mind that these consulting firms have built their brands over decades. But acronyms and abbreviations have no life of their own. They capture the meaning of your brand because people will rarely use the full name.
And in a world where barriers to entry are falling, you know you’ll have a lot of competition to worry about. It’s much harder to stand out when you use acronyms in your name. Instead, keep it short so you don’t need abbreviations or acronyms.
One of the best ways to find a name is to find something that conveys your UVP (Unique Value Proposition). UVP is an important part of your brand strategy – it defines exactly how you differentiate yourself from all competitors!
That’s why UVP can work well for a name. When a potential client reads your consulting business name, they understand how they can get value from working with you.
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Just don’t let your UVP sink in the name for too long. Use your UVP for inspiration, not necessarily your real name.
Did you like the consulting name? Before you fall in love, make sure you can use the name.
You need to do two basic checks: domain name and trademark. Even if there isn’t a business name that matches your new idea, someone might be able to pick up the domain name. Or maybe there is a brand with the same name. To ensure that you are not infringing an existing trademark, see the HeerLaw Trademark Search Guide to conduct a thorough and relevant search.
Remember that searching for a name in Google does not know if there is a domain, especially if you are searching for a domain name. Some people buy a domain name but don’t publish the site right away. You can search for your potential domain name on Namecheap or other domain sellers.
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Many consultants use their full name for their consulting business. You can add your full name at the end of the case. For example:
Now you know how to create your own unique consulting business name. But starting from scratch is hard! Here are some niche-specific ideas to help inspire your search.
No matter what name you choose for your consulting business, you need a tool to run your business effectively.
Did you know it’s specifically designed for consultants and coaches? Try it for free to see how easy it is to invoicing, scheduling and managing clients for your consulting business!
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Have you ever wondered what other trainers are offering and at what price? Find out if you’re paying too much or too little with this free report on your own rates. Starting a consulting business can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below are the keys to starting a successful consulting business.
Most importantly, an important step in starting a consulting firm is finalizing your business plan. To help you, you should download the Ultimate Consulting Business Plan Template
This is a very important choice because your company name is your trademark and will last for the life of your business.
It is best to choose a name that is meaningful and easy to remember. Here are some tips for choosing a name for your consulting business:
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Hi, I am Erick Norman. A blogger specialist in Kitchen Design.