Giving a 1 Man Firm Credibility from Day 1
Launching a New Venture
A seasoned corporate executive was launching a new solo venture. Brian Hamilton was setting up a management consulting firm to serve small and mid size businesses throughout western Canada.
Big Name Competitors
As the former CFO of a high tech success story, Brian had both the knowledge and experience to counsel clients on succession planning, financing, mergers and acquisitions. But his new firm would be an unknown entity competing against the big name accounting firms: Deloitte, Ernst & Young, KPMG and PriceWaterhouseCoopers.
Rethinking a DIY Name
Brian had just registered the new firm under the name HMP Advisors when he called on a graphic designer to create a logo and business cards. The designer had some reservations about the name. He suggested that before moving ahead Brian would benefit from having a conversation with Roger Grant of Identicor.
When Brian and Roger met, they discussed the vision for the new firm and the impact that name selection would have on its success.
The Problem with Alphabet Soup
Roger explained that the HMP name would strike Brian’s potential clients as just a random collection of letters and wouldn’t carry any pertinent meaning. The name would not be particularly memorable or distinct. It would just get lumped in with all the other alphabet soup names that pervade the marketplace. Many years and a huge budget would be needed to make HMP memorable and famous.
The Decision to Create a New Name
The name wouldn’t provide any marketing lift in Brian’s battle with the big accounting firms. So Roger concluded that Brian would be best served by replacing HMP with a new name that would stand out, convey a relevant message and stir feelings of confidence. Brian agreed and contracted Identicor to conduct a name development engagement.
In the ensuing project, Roger delved further into the services that Brian would be providing, the personality that he wanted the firm to project and what he wanted the firm to become known for.
Firm Personality & Desired Reputation
Top level services involved advising on corporate structure, strategic direction and business planning. Brian wanted the firm to be seen as highly capable and professional.
Roger took all the layers of information and began composing dozens of potential names. The final name, Corplan, came from compressing corporate planning into a concise two syllable package.
What Makes Corplan
Such an Effective Name?
It Makes a Strong Professional Impression
Corplan projects a crisp, clear and credible image
It Delivers the Right Amount of Information Corplan gives a sense of what the company does without telling whole story. It invites people to learn more
It Is Short and Easy to Say
Corplan is just 2 syllables and 7 letters and effortlessly rolls off the tongue even the first time you say it
It Has Strong, Appealing Phonetics
The Cor prefix with the hard “C” opening sound oozes confidence and transitions smoothly to the plan suffix
It Kick Starts the Sales Conversation
At networking events, Corplan is the perfect introduction to the services the company provides
Immediate Positive Response
As soon as it was introduced, the new Corplan name gave an immediate boost to Brian’s marketing efforts.
“Reaction to the name has been consistently positive from the first time we presented it,” remarks Brian.
“Our company name has accomplished exactly what we hoped it would when we contracted Identicor to create it. Potential clients see our consulting firm as a well established, trustworthy company,” says Brian.
Solid Comfortable Phonetics
The name’s solid and comfortable phonetics made it seem familiar even when it was being seen for the first time.
“In a number of cases people being introduced to Corplan assumed the company had been around for a long time and were surprised to learn it was only six months to a year old at the time,” comments Brian.
Success & Growth
Since its launch, Corplan has grown from a one-man venture into a full professional services firm advising clients on divestitures, acquisitions, employee share ownership plans, management buyouts and other strategic work.
The firm has closed dozens of major transactions with corporations across North America and overseas. It serves clients in a diverse range of industries: engineering, manufacturing, software, technology, oil & gas services, health care, wholesale & distribution, infrastructure and construction & contracting.
“Our investment in Identicor’s naming services continues to give us a valuable return,” concludes Brian.