The naming of businesses: Creative or practical?

Modern family

I’m the fourth generation in our family firm. For many years (and still to many people), we were Lindsey & Associates. When I started my transition into leadership and knew we had to grow to other markets, I thought we needed a name that more specifically described our business. We’d had a company called Employee Benefit Consultants since the 1980s that really just functioned as a contracting entity.

After getting a marketing degree, I decided we needed a rebrand that let people know we were focused on benefits, so we decided to bring EBC to life. New brand, logo, brand story, and new meaning. It also allowed us to display our passion for solving benefits issues and creating smarter consumers of health care.

I felt good about this decision, since it was meaningful to us as a team, had the legacy that got us to where we are today, but also had a fresh spin that shared our passion and story. We’ve been able to build brand recognition into three or four new markets. It’s been a fun ride.

Taylor Lindsey, partner, Employee Benefit Consultants, Inc.

Back to your roots

I have a friend who is a creative type, so when I started my company, I asked him for advice about the name. He asked, “What are you going to do?” I said, “I’m going to advise Charleston business owners about their benefits.” He said, “How about ‘Benefit Advisors of Charleston.’” I said “Cool.” And that was the first name of the business.

Over time, I became tired of all the sales games, industry shenanigans, hidden fees and underhanded tactics in health care financing. I want to always tell the truth, no matter how painful it can sometimes be. I don’t want to “sell” insurance, I want to advise about benefits. If that happens to require the sale of an insurance policy, so be it. When I decided to rebrand, as a proud Italian, I went with Vero Advising. “Vero” is Italian for truth, conveying what we do and are about: true advising.

Tom Diliegro, owner/consultant, Vero Advising

Speaking plainly

In 2020, I left my job to start the first agency/GA focused on the individual coverage HRA (ICHRA). We knew that being an ICHRA solutions clearing-house for agents and advisors was a great idea and we wanted agents and brokers to have a full, end-to-end shopping experience. By putting the two pieces together, we created The ICHRA Shop, now the nation’s leading distributor of ICHRAs.

Brad O’Neill, co-founder, The ICHRA Shop

That’s a rap

Not long ago, it was viable to say you were going to hit your growth targets by picking off weaker competition. Today, if this is your plan, you’re likely the weaker competition. Our industry is full of talented advisors delivering solid customer service, and these folks often operate under more recognizable branding. In this environment, few premiere clients are won in a landslide. So, how do you eke out important wins against talented and better-branded agencies? Our team’s ability to help our partner advisors win jump balls was the launch point for our rebranding.

“Winning jump balls” was eventually replaced by the visual of a fulcrum tilting in our team’s favor. We were encouraged by Wendy Keneipp to wine and Wikipedia as part of our brainstorming. We explored all manner of simple machines, architectural tools, and great mathematicians like Archimedes. Lost in the depths of the internet, I even tried my hand at advanced torque physics. Failure. Hungover and frustrated, we kept at it. It was midnight after a particularly hard “brainstorming” session, when I made the leap from wine and Wikipedia to whiskey and YouTube.

I sought dense vocabulary, inspired and varied verbiage, a master storyteller. I looked no further than the GOAT, Black Thought of The Roots (Jimmy Fallon’s band) and his epic 11 minute freestyle on Funk Master Flex’s Hot 97 show. At 6 minutes and 39 seconds into his masterpiece, he says, “a grain of salt can tip the scale, it never fails.” It was our “Eureka’’ moment! When competing against talented and well branded agencies, a grain of salt can tip the scale! That’s the “margin” of victory, a grain of salt. Excitedly, I closed my laptop, rolled over in bed, and (passed out) went to sleep. Salt Margin was born.

Kevin Curran, founding partner, Salt Margin

Greek to me

Well, you know the meaning behind MelEos Group! (Editor’s note: See the October issue of Face of Change for details.)

The stories, meaning, and connection behind names are so important, especially when it sparks energy that builds and spreads through organizations as we drive change and make a lasting impact.

Kalli Ortega, founder, MelEos Group

Full circle

Coterie: a close circle of people with a unifying common interest or purpose. It’s who we are—literally.

Thomas Blomberg, senior VP, national sales, Coterie Advisor Group, Inc.

Proving my point?

Futuro Sólido means “Solid Future” in Spanish, which is what employers, employees, and brokers get when benefits are communicated effectively. I thought the meaning would be clear to EN speakers, but I still get asked about it pretty often!

Melissa Burkhart, founder and president, Futuro Sólido

A little out of column A…

When I launched On Your Mark Consulting, I named it for brokers. My tagline, Be Column A®, was for brokers too. In 2015 (and even today), I saw brokers in a race to finish RFPs to make themselves look the best as part of their effort to win clients. By the time you get to responding to RFPs, the company already has a winner in mind; they’re just doing due diligence. I encouraged and educated brokers to be Column A, the column on spreadsheets to which all other brokers would have to measure up. The brokers who do this not only lead by example, but also become great stewards of their clients’ bottom line and insureds’ care.

On Your Mark was to express how important it is to never expect the business to continue to be yours because of great relationships. Brokers need to be on their mark by providing solutions to employers (and individuals) that would have a positive impact on P&L, EBITDA and health.

Karen L. Kirkpatrick, owner, On Your Mark Consulting

Let’s sleep on it

I own my agency with my (now) husband, Donovan. When we partnered six years ago, we took on his agency name, J Donovan Financial. During the pandemic, we noticed that it was no longer telling the whole story of who we are, where we are going and the impact we want to make on the industry. In early 2021, we agreed to pursue a name change, but only if we found the perfect name. We would need to go big or not do it at all.

Following grueling rebranding sessions, I would often wake up in the middle of the night with ideas for names. I would write them down and share them with Donovan the next morning.

After months of mediocre ideas coming to me in my sleep (and being rejected the following morning), the word “Ethos” woke me up. When I shared it, he loved it and especially appreciated the nod to stoic philosophy. Ethos Benefits was born!

e·thos: the guiding character or principle of a person, community, or organization.

Our new name represents the impact of benefits decision-making. The ETHOS triangle represents the components of every good decision:

Ethos: Character or guiding spirit – The company’s WHY for offering benefits

Pathos: Emotions and feelings – The employee experience and perception

Logos: Logic and reason – The financial sustainability of the program

Nothing impacts the financial, emotional, mental, and physical health of employees like benefits. We hope to take the programs we consult to the next level by defining purpose, designing with strategy, and wrapping it in empathy.

During the rebranding process, we defined our company values, our ideal client and employee, and our own Ethos: If something can be done better, it should be.

The new name has created alignment internally, making hiring (and firing) more focused and efficient. The performance of our team has improved greatly. They share how having defined values and purpose not only makes it easier for them to accomplish their tasks but gives them a sense of purpose and fulfillment. We know exactly who we are, what we believe in, and where we are going, allowing us to eliminate what doesn’t fit.

Externally, the new name has started many meaningful conversations and brought prospects to us who share the same Ethos. We are on track to more than double our book of business this year and I attribute that to the clarity and total alignment the new name has brought us.

Chelsea M. Whalley, benefits consultant, COO, partner, Ethos Benefits

A force for change

It’s no secret that I’m a bit of a nerd. When I was with Aflac, my district was the Rebel Alliance District (#RAD). When I was looking at different names for this biz, I asked folks I respected for their ideas. I was thinking of something related to “rebel” because I not-so-low-key identify as one, but the consensus was the word had negative connotations, regardless of my intentions.

So, the Revolution was born.

Revolution has many definitions and the complexity was interesting to me. I love music, so when I think of revolution I think of records, the movement of planets and solar systems and, well, growth as we revolve around our own star.

The passing of time is as inevitable as the rotation of the earth around the Sun. So is the outcome of things changing.

As Otis Redding said, “A change is gonna come.”

Joel Daniels, Chief Advocate, Revolution Benefits Group

Choose joy

My parent-in-laws moved to the U.S. from India in the 1970s. As often happens, my father’s first and last name were swapped and he became Thomas Issac. But growing up, he was Issac Thomas and to family and friends, he was “Joy Uncle”; joy stemming from the name Issac, and representing his playful nature that he passed on to my husband.

When I started to dream of an agency of my own, I knew I wanted something more than just my name or a string of letters. I wanted to build a brand and a vision that others could join in, a movement we could get behind. I was reminded of a conversation I had with a client: “Erin, you are so joyful. Our last agent seemed like he hated every day at his job.” It clicked. I wanted to help people get past the dread and pain of navigating the mess and bureaucracy of health insurance, give them hope and help them find joy. A mission and a tribute to my family.

One distinction between joy and happiness: happiness is a feeling; it’s fleeting. But joy is a choice, and we can choose joy in the midst of any trial. Joy says, “We’re in the midst of it, but we can have hope a better way is coming… let’s get out there and find it!” Our motto is “Insurance sucks. Choose Joy.”

Erin Issac, president, employee benefits consultant, Joy Benefits

A conscious decision

It has always been my intention to frame my work within what I deem to be the most appropriate realm of consciousness. To me, that means gratitude and abundance. Abundant-Benefits summarizes my desire to provide abundant choices, flexibility, and ample benefits for all involved in the experience.

I’ve been very diligent in my search for uniquely innovative product designs that are dedicated to providing remarkable flexibility in the marketplace. I am grateful for my ability to provide solutions that have a positive impact upon people’s lives.

Toney V. Chimienti, owner & CEO, Abundant-Benefits