Are you starting a Consulting Business? Trying to come up with consulting company names? Use my consulting business naming process to help you on your way.
In this article I will use the process that has been used by dozens of consulancies, coaches, experts and mentors to fine tune their business name.
Why The Right Name Matters?
Whenever naming any aspects of your service, from the strategy calls you offer clients to help them and discuss your services, to the name of your Mastermind Group, I know from experience that adding the benefit your clients
will experience dramatically increases take up.
I have always offered strategy calls for clients where I talk to them about the marketing that they are currently undertaking and to suggest what else they should be doing.
I used to just say ‘Book a call with me’ and that worked, to a point.
However, I spent some time thinking about these calls, and being a marketing man, realised that there was an opportunity to improve the number of people that asked for one of these calls. I was keen to increase this number because ultimately, whilst these calls are never about selling but about serving, they do lead to sales in time. I realised that if I had more calls I would ultimately sell more of my services.
So, what should I call them?
‘Marketing strategy call’ was, of course, an option. After all, that is what it was. However, I know that it is always the ‘benefits’ that sell any service. More importantly, if I could explain to the client in a very short but sharp way precisely what they would receive from attending the call with me, more people would request the call.
This led me to what it has now been called for some years:
The More Clients call.
I show people how to get more clients. Short, sharp and sweet.
Did it work? It led to an instant 300% take up on calls with me.
By changing the name of the call to include the results that people would obtain from attending it, I had three times as many calls dropped into my diary.
Since this time, I have always been far more thoughtful about the names of all aspects of my services and free offerings.
I offer a Steady Stream Of New Clients meeting in my offices. It costs in excess of £1,000/ $1,000 for approximately two to three hours where I craft a bespoke marketing plan for my clients. It has a nigh on 100% take up by those who enquire about it. I know that the name is a big part of that because the name provides the holy grail that every service provider craves: a steady stream of new clients. I know this to be true because I ask them.
When I launched my first Mastermind Group, I successfully sold all 6 places at the first time of asking at a price of £500 per month (now £750 per month).
You might not think that it was a very expensive Mastermind Group; it wasn’t.
However, what you should know is that the Mastermind Group was largely completed online with only a couple of physical attendance meetings so there were minimal costs to me and it took up a lot less of my time than a physical monthly Mastermind Group.
Each session was only two hours.
I called the group the Fast Track To More Clients Programme.
Once again, it did what it said on the tin and provided the solution that my clients were looking for.
Therefore, my strong advice for you is that you spend some time thinking about and working on your consulting business name. It could make a big difference to the success of your consultancy.
Right, let’s move onto my Consulting Business Naming Process
It is time for you to do some thinking. My advice would be to get your favourite note book or a pad of A4 paper (this doesn’t ever seem to work quite so well on an Ipad or computer – writing will help your creativity).
At the top of this sheet, simply write “What my consulting business will do for my clients!”.
Take yourself off to your favourite coffee shop, park bench or sea view and allow yourself at least two hours to complete this consulting company naming process.
At this stage, you probably have many ideas running around your head as to how you can help your clients, so it is time to jot them all down on paper.
Don’t stop yourself or second guess yourself.
Just write down everything that YOU COULD do for your clients (it doesn’t mean that you will do them all, but get them all down onot Sheet 1.
Once you can think of nothing else to write (give yourself at least one hour), you can move onto Sheet 2.
Your top 10! Write at the top of your second page “My Top 10 Consulting Services”.
Now you have a list of hopefully 10 to 50 things that you are going to do, pick your top 10!
Pick the ones that resonate most with you and that you believe will move the needle the most for your clients.
These will be your game changers and really sell themselves because they are so beneficial to your clients.
Put your top 10 on the sheet, then when you have them, we can move onto Sheet 3!
Convert your features into benefits.
On this page you need to draw three columns, the first and third the largest, the middle one will just have the words “which means that” in it.
The first column is “Features” and the third one “Benefits”.
In the first column you will list the top 10 things that you are going to do for your clients.
The middle column then converts that into the benefits for your clients.
For example, for my business growth consultancy, I might put:
Feature: I will grow my clients businesses fast
WHICH MEANS THAT
Benefit: They will grow their turnover, increase their profits and take more time off.
Do this for each of your 10 core services, then see which ones jump off the page for you.
There should now be a recurring theme for these services.
For mine, when I did this, it was always Business Growth.
Whilst the feature of my service is marketing, nobody actually ever wants to buy marketing.
It is a term that scares most people (as does the word Sales).
What they really want is growth, so that, as you can see above, is my strapline, because it is what my clients covet the most.
It is now time to choose your business name.
Right down any variations of your top 3 from the top 10 list.
Now, as you will see, I went with my own name, and used this process just to choose my strapline.
You might do precisely the same, and that is absolutely fine.
If, like me, your business is very much about you and the relationship you will have with your clients, your name is the obvious choice, and usually easier to come up with the domain name for!
However, if you plan to build a consulting business which employs lots of consultants, you might choose either just to use your surname, followed by the word “Consulting” or “Consultancy”, then use this process for the strapline.
Ultimately you have to be very comfortable and proud of your business name, and I hope this process has helped you to achieve this.
If it has, please let me know, I would really appreciate it.
If you want to know how to grow your consulting business to six figures AND BEYOND, download my free guide below: