Startup Daddy

Having done both (more than once), I am going to make the argument that choosing a name for your business is even more difficult than choosing a name for your child. While you don’t have to factor in things like people in your past that had that name, in-laws, and what will happen to your business on the playground, once you (and your partner) decide that you like the name, you’re done.

With a business on the other hand, you need to go much further. You need to find out if there are other businesses with that name, and if so, if they are in your industry. Is the trademark available? Is the domain name available? Does it mean the same thing to others as it does to you? The list goes on. There are businesses out there thriving on this very concept. Day in and day out, they help people name their companies. There are also companies that will help you name your child, but that is another story entirely.

These services are not for us though. We are not that decisionally challenged. We would never entrust such an important, personal decision to strangers. Besides, we are on a budget, right? So here are are some tips and advice about naming your business.
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I know it has been a couple months since I posted anything, but I am back. In the two long months since my last posting, I have learned many new lessons and re-learned a few old ones. In the coming posts, I plan to share a lot of what I have learned. You will also see me launch a new business, from the very beginning. But first, let me tell you why you haven’t heard from me for a while.

Simply put, I got myself into a business deal that ended up going against almost all of the criteria I have for my business ventures. I got into a partnership, where my responsibilities far outweighed my ownership stake in the company. Our roles and responsibilities were too vaguely defined from the beginning, and this led to a quick meltdown of the working relationship between me and the main stakeholder. Most importantly though, I allowed myself to sacrifice the flexibility and lifestyle, I have worked so hard to achieve.

The good news is that I have developed the ability to recognize when things are not working. I have a very good idea about when I can turn things around, and when they will only get worse. I needed to get out of this, but I had to be very careful to do it right. Oh, I didn’t mention that one of the partners was a very close friend, and all of the partners (except for me) were lawyers? Read the rest of this entry »

Ready, Fire, Aim! This is how most people start a home based business. This is how most people start any business; how most companies launch a product. This is how I did things when I first started along my entrepreneurial path, and let me tell you, it is one of the most expensive and important lessons you can learn. You have probably heard, “People don’t plan to fail, they fail to plan.” It’s true, and if you are even thinking about starting a business, you better remember it.

So where do you start? A business plan, right? Wrong! This is very important, and I will get into that later, but the place to start is your idea to start a home based business in the first place (or any business for that matter). Let me tell you about one of my flops.

I was about 25, and I moved back to New Orleans to pursue a business opportunity that eventually fell through. I had just sold my first company, and I was rich. After paying off a bunch of debt, I had about $10 thousand in the bank! Listen, when you’re 25, and that is more money than you have ever had before, you think you’re rich. I put the whole thing into spray mace (pepper-spray) distributorship. This is a self defense spray, and since New Orleans had such a high crime rate, and was at the time, the murder capital of the US, I thought I had a no-brainer here. I was very wrong. Read the rest of this entry »

This is a Valentine’s Day tip for all of you Startup Daddies and Startup Mommies out there.  The best way to show your spouse you really care about them is to do the little things that take a more thought than money.  At least that is how it is in our house.  Go buy a Valentine’s Day card, and mail it to your spouse today.  If you mail something to someone in the same city, it will get there the next day (that is, everywhere I have lived).  So make an excuse to go to the grocery store.  They all sell cards and stamps now, and most have a mailbox right out front.  You know you need diapers, or eggs, or vodka, whatever.  Fill out the card, and mail it to your significant other.  Get another card, of course, to give them in the morning.  Make sure they open the mail tomorrow, and when they see your thoughtful gesture, instant brownie points.

None of us need a Greeting Card Holiday  to remind us that we love the people in our lives.  It sure makes a great excuse though. Do something a little special tomorrow.  Go out to lunch, buy a bottle of wine to share after the kids are asleep, anything.  The reason we work hard is to make life as good as we can for our family, right?  So stop, and appreciate what you have.  Even if you have no romantic interest in your life, I am sure you have someone you can tell you love them.  So tell them.

What inexpensive things do you do to show the important people in your life you care?