What's In A Name?

Currently working on a businessplan for our venture and at the point where we need to come up with a name. The venture is focused on Africa. I look at some of the big names out of China. Many have indigenous names. There's Xunlei("Thunder), Baidu(Poetic Chinese Name), Sogou(search dog), and countless others. I can't say that approach was helpful to Chinese networking giant, Huawei in the US market. Perhaps that had to do more with the maturity of the market. The company has been very successful in frontier markets like Africa(especially selling equipment on credit and at much lower costs). I definitely have a preference for an indigenous name. One that has meaning.

The question is do you gain more loyalty from the target market with a local name? What happens when you are dealing with a discontiguos market like Africa with different languages in different markets. Do you lose customers when you use a name from one part of the continent?

Of course a name is only a small part of the equation. It's a nice touch. Once we get this out of the way need to get back to the numbers. The numbers for the business don't look so great. Not going to get me to my first billion(a million is no longer what it used to be) anytime soon.

Nothing to lose - Outsiders more likely to start businesses

Knowledge at Wharton writes:

According to Sam Hamadeh, founder and chief executive of Vault.com, a New York publisher of job information, being an outsider increases the likelihood that someone will want to start his own venture. "The more you are part of the establishment, the more you are giving up to start a business," he said. "Minorities, immigrants, gays and lesbians are all more likely to start businesses than other people."........

Tell me about it. In many cases outsiders are left with no choice!

It's definitely exciting starting a business. Some will say its in the blood. I think everyone has a yearning for a life of entrepreneurship. Some just want it more. What keeps us all from going around starting businesses will nilly are all those golden handcuffs. In some places like Europe its actually society that discourages entrepreneurship. You'd better succeed first time around.

The funny thing is that insiders with the most to lose probably have the best chance at success. They have the money, the connections, and the credibility. Equally important they can always get a job. The reality however is that this group has more trepidation about starting a business. The fear of failure is so great. In many cases for outsiders who have embarked on this entrepreneurial journey there is no going back.

What is your core business?

I came across this interesting Microsoft interview in Businessweek. In case you have forgotten Microsoft's core business is software. Knowing your core business gives you clarity and a sense of purpose. It definitely simplifies your decision making when you're trying to start a new business or enter a new industry.

I applied this thinking in a meeting I had with my potential startup partners. It became very clear that the technology we had been discussing was not essentially what we were about. Technology is constantly changing but our vision will remain the same. Once we crystallized our vision, we all became completely focused on how we went about actualizing that vision.

Blood Diamond - An African's Perspective

This was a very, very good movie. It was brilliant. I thoroughly enjoyed it. The film makers showed a deep understanding of Africa and its history.
You also got to see the situation from everyone's point of view. The good and bad guys are all human. The acting was great. Di Caprio was convincing as a Zimbabwean mercenary. Djimon Hounsou put in an Oscar worthy performance. He exuded strength and dignity in every scene.

I salute Di Caprio. He didn't have to do this movie but you can tell he committed to it with all his heart. Many who complained about his accent in the movie trailers probably have never heard a South African accent before. It definitely worked in the movie.

I assure you a diamond will never look the same to you again. I have said enough. Time to get back to doing some company building.