Monday, January 22, 2007

Wal-Mart Destroys Society -- No Fooling

A has negative implications. The study concluded that the presence of Wal-Mart depresses stocks in local communities
* Communities with Wal-Mart stores had fewer non-profit groups and social capital-generating associations (such as churches, political organizations, and business groups) per capita than those that did not.
* Wal-Mart's presence depresses civic participation, namely voter participation

Yeah? And I just thought it was because of all the cheap and tacky teen clothing they've been selling lately.

Friday, January 19, 2007

Working with VCs For Your Start-Up Business

Last month, while browsing Yedda, I came across a question about venture capitalists and start-ups.
What is the right time to incorporate a vc in the start up?
I couldn't resist providing the Yedda user with some meaty links to help him out. Here's what I wrote...

There is no "right time." It depends on your business and well, you! Everyone has different timing. Make sure you have a rock solid business plan before you approach a VC. Many VCs look at your track record, either as a previous employee or business owner, but product or service potential and projected return on investment is a big factor. Some VCs specialize in start-ups, and some business owners get funding at the onset, so your question about the timing may be moot.

If you'd like to read about a start-up entrepreneur who attracted VCs early in the game, check out this blog article.
Ramit Sethi, co-founder & VP of Marketing for PBwiki, presents Friday Entrepreneur: Joyce Park, Renkoo posted at I Will Teach You To Be Rich. Ramit interviews Joyce, co-founder and CTO of Renkoo, about her decision to fund her start-up "almost immediately ($3 million in VC)."

There are also some step-by-step articles on eHow.com about getting money from VCs.

There's a nice article on CNNMoney titled What a VC wants to see in you, that talks about wooing "even the fussiest venture capitalists." And don't forget to read "Top Ten Lies of Venture Capitalists" by Guy Kawasaki, to help you put things in perspective.

Meanwhile, if you're interested in getting additional help with business planning, reading case studies, and finding other entrepreneurs like yourself, check out JumpUp. JumpUp is a new site by Intuit for small business owners and start-up entrepreneurs. I've added several links under "My Saved Bookmarks" for help in starting a business, so start with my Profile on Kim's JumpUp Page. By the way, just so you know, I work for Intuit...

Good luck!

~ Kim

Monday, January 08, 2007

Blog Carnival for Starting a Business (January 8, 2007)



Welcome to the January 8, 2007 edition of the Starting a Business Blog Carnival.

Under the Business Planning category:
  • Emmanuel Oluwatosin presents How to start your business in 2007 posted at Inspiring Excellence, Realising Ambitions. "Many successful entrepreneurs had no business qualifications or experience prior to starting up in business," says Emmanuel.
  • Ramit Sethi, co-founder & VP of Marketing for PBwiki, presents Friday Entrepreneur: Joyce Park, Renkoo posted at I Will Teach You To Be Rich. Ramit interviews Joyce -- co-founder and CTO of Renkoo, a site that helps users plan events with their friends -- about her decision to fund her start-up "almost immediately ($3 million in VC)." It's an inspirational case study in how someone was fired from one job, only to land on her entrepreneurial feet in a big way.
Under the Expert Help category:
Under the Business Structure category:
Under the Marketing 101 category:
Under the Getting Paid category, figure out how to get paid by your customers:
That concludes this edition. I hope you get some great ideas out of reading the linked posts. Let me know what you think of this edition.

Got a recent blog post that fits this carnival focus? Submit your blog article to the next edition of the "Starting a Business" blog carnival using our Carnival Submission Form. Remember to select a submission category!

Past and future posts can be found on our blog carnival index page.

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Wednesday, January 03, 2007

Naming Your Web Site

About a week ago, while browsing Yedda, I came across a question about naming a Web site.

I am developing a site for students, somebody has a suggestion of a name for the site???
Of course, a couple of users immediately started throwing out cute ideas. That's where I decided to step in. Here's my answer, as seen at Yedda.

Before you start coming up with cool names for your site, think about what you want to convey about it. What types of services are you going to offer? What features and functions will the site have? What type of site is it -- social networking, educational, or something completely different?

Sure you can come up with a name that has nothing to do with its purpose -- obviously Amazon.com and a host of Web 2.0 properties have done it. You could coin your own phrase by inventing a pseudo word for a site name, which might start a verb trend (ever heard of "googling"?). GoDaddy.com CEO Bob Parsons talks about strange domain names on his April 6, 2005 podcast, if you're interested.

Keep in mind that you want your domain name to be brandable and memorable. I'd be glad to give you some ideas, but it would be better to know -- what is the site's purpose or, better yet, (aside from the "funny" tag in your question) what do you want the user community to remember?

If you really want to create some buzz, stage a contest to name the site. You might even be inspired by this

Meanwhile, while you're trying to figure it all out, here are a few helpful links to get you started on domain name brainstorming or "namestorming." These sites have wizards that combine words and can suggest domain names.

  • Domain Name Wizard

  • Domain Twister

  • DomainGen.com

  • Domain2Trade

  • 123Finder.com

  • There's also an article on JumpUp called Winning the Name Game. It's a two-part article on what to look for in a name and how to reserve it for your business.

    By the way, I work for Intuit, so visit my JumpUp profile for more helpful links under "My Saved Bookmarks."

    ~ Kim