Business consultants play an important role in any business to ensure that the business is going in the right direction. If, you are a business owner and think that your business is not moving in the right direction and at the right pace then you should consult a business consulting company. Hiring an external business consultant can bring a fresh set of ideas to evaluate the company policies and employees’ capability. Generally, external business consultants have a wide and varied set of skills and expertise beyond those of your own company or staff. There are a lot of Consulting Company are available in Canada, that provide much services such as Norstrat, Deloitte, KPMG ETC.
They have the privilege of serving multiple clients in the same sector (eg, food industry, Enterprise Software) and/or serving multiple clients facing similar problems across different sectors which means these companies can help drive your organization with broad experience and knowledge.
Today, there are a number of business consulting companies available in canada locally and globally. Business consulting companies make recommendations to the managers that are responsible for implementing the changes firstly by assessing the business. By evaluating each and every policy that is being used in the company, Business consultants work with the company employees at every level to generate some unique idea to favor the business that is ideal for the company The solution ultimately is guided by the business consultant and generated by the employee’s with an understanding of the key issues and results to aim for.
Management consultants can also be used for politically challenging situations such as job layoffs, salary and benefit changes/reductions, and major operational and strategic shifts. Often short-term needs of a company can also be resourceful by using management consultants who are able to apply their expertise quickly to fulfill the company’s needs.
Consulting companies and their types
The core duty of a consulting company is to offer its knowledge and expertise to boost client business. Consulting companies come with a range of expertise focused on all industries or with specialized services. The most popular consulting companies are management consulting companies which often offer a full range of business skills; and IT Consulting companies which are more specific to the technology related aspects of a company. Other more industry specific or specialized types of consulting companies may also include environmental consultants, human resource consultants, retail services consulting and even hotel management. In addition, consulting companies may come in large organisational shapes or be boutique. Large consultancies have a breadth of expertise and resources that they can offer. Boutiques often offer specialized expertise on specific dimensions. All business consulting companies however have their own approach and method to servicing a client. They may offer the services such as management training, consultation, resource assignments, advising and delivery & implementation services which may be focus ed at only on one single project or at a company level. Management training services are often also necessary in consulting projects as clients usually have to implement and maintain suggested changes.
Benefits of business consultants
Business consultants bring benefits in a number of ways. Firstly, not only do they have a varied set of experiences across varying industries, but they can apply the problems of many other businesses and help implement solutions for your business.
They can improve your business strategies to work with the maximum force by modifying simple or complex rules and processes. They can also make recommendation by understanding current regulation and policies. These companies perform a great deal of research to find a solution – time that you may not have. In addition they can manage a great deal of legal paper work and recommend the kind of manpower and equipment or tools that may be needed to grow your business. Business consultants can often provide the effective management training to your employees to reskill them into more efficient and highly skillful resources. They can also help to develop some unique marketing strategies that can attract more customers and result in revenue-earning opportunities for your business.
Naming Strategies for Consulting Companies
For consulting firms and other start up companies, few items are more important than the company brand name itself. Without a strong and compelling brand identity, most companies get lost in a sea of sound-alike, descriptive or meaningless names. The most common mistake is simply using the owner’s initials or surname (e.g. FJZ Associates or RW Jones Consulting). Not only are these names forgettable, but they create an additional obstacle if the company grows, the owner wants to take on a partner, or eventually sell the business. What new business owner wants someone else’s name on the front door? No one, unless the names is E.F. Hutton, or a legacy brand that has earned its reputation over time. Most new businesses don’t have the luxury of time to build their brand message. So what are some successful naming strategies for consultants? Let’s take a look.
Rather than taking the predictable path of a mediocre company name, why not create something that helps to provide a sense of the company’s meaning, purpose and direction? Here are a few such naming strategies, specifically for consulting companies.
1. Build the company name on a key attribute
With this approach, you center the company’s brand identity on a core strength. For example, IT consulting company Claricent, chose their name based on their ability to provide clear, insightful knowledge about business information systems. Agilent Technologies is another company name based on this type of naming methodology. Key attribute brand names work well if you want to be known for not just what you do, but more importantly, how you do it. They differ from purely invented names in that they contain a morpheme, or word part, that has intrinsic meaning. An added bonus to this type of naming exercise is that it forces you as an owner to determine your pivot point, or core value proposition.
2. Base the business name on positive connotations
This is one of our favorite naming strategies. It involves the use of timeless “perennial” words to create new, positive sounding, brand names. OnStar is a great example of how GM used two positive words, “On,” and “Star,” to create a blended name that speaks to intelligent navigation. A wealth management company Parkworth, used the positive imagery of a park like setting, combined with the richness of the word “worth.” Together they communicate a sense of natural financial growth. Also a mortgage advisor went with the name BrightPath. Again, it underscores a sense of guidance and direction, attributes important in the consulting field.
3. Choose a metaphor to develop a new company name
If a picture is truly worth a thousand words, then a metaphor brand name can convey a host of attributes with one mental snapshot. If, as a consultant, you are known for being at the leading edge, the point of the spear in your industry, you may use a metaphor such as a trident, javelin or arrow. You may need to add a word to these names to further customize them and obtain the matching domain name, such as ArrowPoint, or Trident First, etc. One logistics company that wanted to be known for their speed and agility, was named Bluefin, after one of the world’s fastest fish. An investment banking firm went with the name FourBridges, since they “bridged the middle market” and connected companies with capital. It also helped that they had four partners and resided in Chattanooga, TN, a city with four rivers.
By utilizing key attribute, positive connotation and metaphor naming strategies for your consulting company, you can give yourself a head start when introducing yourself to potential clients. Instead of stumbling with an awkward acronym name, or spelling out a difficult last name, you can segue from your core strengths right into your product and service offerings. Tungsten, the wire in Edison’s light bulb, often sparks a conversation about clarity, insight and brilliance. So plug in some of these company naming strategies and see what ideas they generate. And if need some extra “juice,” just flip our switch and we’ll provide some company brand names designed to make you and your company shine.
Markon Sherlo is an author of a Business of consulting and management issues or topics. For more information on management training, You can also get services and consulting companies from their extensive Business network.