16) My Birthday and My Domain

Beautiful frozen day with white landscapes outside with a -8 C (21 F)?

I'm one year older and supposedly wiser? I don't know. I finally registered my domain, it took only a couple of minutes. It was a difficult thing to decide since I'm not 100% sure if I can use that name as a trademark, I did all the possible research it was possible and, unfortunately, I'm still not satisfied. However, it marked the first decision of many I'm going to be taking for a while. I also resigned my flat so I'm moving temporally with “family” in order to invest any possible cent in my project. I guess not so many parties for a while :)

Before, every company all over the world used to begin operations by registering the company in a government institution related to the registration of companies, of intellectual property, the tax office, etc.

Nowadays, it's different. The first thing you have to do is to find a name. An easy name to remember, catchy, without negative meanings in other languages, a name that will suit your product/service/company and the MOST important, it must be available on internet. It can finish with .com, .us, .se, .de, .fr, etc., sometimes you don't necessarily must have a .com address, specially if you are registering an organisation, then .org might be more suitable or if you plan to be a local company, then the local domain is the best option since many local people will always check out the local domain instead of international ones.

Many domains are taken and if they are, you can forget about those names for your company/product/service since it will be very difficult to regain the right to use those addresses. Usually the rebuying of those domains implies a lot of money and in some cases further legal problems. I think the best example is Apple Inc., the name and logo are among the most common ones all over the world making it a very negative option to choose, since, as it has been the case, many people around the globe have registered in some how that name for different purposes. On the other hand, the positives aspects are “easy”. Easy word, easy logo, easy to remember, basically non intercultural problems, etc.

So you must think in a company's name, product or service that it is simple, new and catchy and at the same time without the risk to mean something “negative” in other countries. Avoid intercultural problems by doing some research of the names you are thinking to use.

There are many web companies selling space and domains. The local companies will always sell the most international domains (.com, .org, .net, etc.) and the local domains (.de, .fr, .it, .cn, etc.). The international web companies would focus more in the most common international domains and their local ones (usually .co.uk and .us).

Once you have found the name, here you must have to do a bit more research. If the idea is to go international, you must go to every single patent and trademark office in every single country in order to check if that name is available (at least in the industrial category that you are planing to incursionate (food, clothes, service, etc.). It takes a lot of time to do the research, but it's worth it. If you plan to be a local company, it's enough if you check out the availability in your own country at the local patent and trademark office.

In this link you can find a list of the intellectual property offices around the globe by the World Intellectual Property Organization. http://www.wipo.int/directory/en/urls.jsp

Once you have done all the research and you are sure that the name is available everywhere, register the domain. If you plan to go international .com is a must, however, if you want to reach your customers in an international and local base, then it is advisable to register every local domain in every single country so you can reach every market with their local domain.

It's a lot of research and money, but there is no choice.

If you register your company first and then the domain, you are in danger of loosing it by someone who might register it before you do it. Usually every government, by the time of the registration of a company, publish a list of the new companies or their product and services. Easy target for domain hunters, either private people or companies.

I found a lot of information from web-hosting-top regarding about webhotells, servers, etc. Check it out, if you happens to find a better one, please share it with us.

http://www.web-hosting-top.com/

Remember to read all the “promotions” and special prices. Since many of them imply a 2 or 3 years contract. One of the web hosting companies I contacted told me that the price for 3,45 USD/month is on a 2 years contract and a single first payment. However, it is possible to cancel the hosting earlier, but the company will deduct 10 USD from the refund (82.8 USD – the amount of months you used the hosting – 10 USD) for the domain registration. Analyse what's best for you and what does it suit you company's needs.

If you are starting like me, I definitely advice to contract the cheapest webhotell company. Since the service is basically the same, independently where they are located. The goal is to own the domain that you will be using for your business.

Once the domain is registered, then it's time to register the company at the local authorities. Prices vary and every country has got their own rules and laws to follow. You don't really need a lawyer to do all this done, but you must read as much as possible of the procedure. Many countries have different bureaucracy, so be aware you might have to visit either 2 offices or 20 in search of all the permissions.

What kind of feelings do I have now after all this “basic” research? I put “officially” the first stone of my pyramid. What a feeling!


I feel happy, aggressive, optimistic, sceptic, great, ... I feel like sauna now!


Cheers :)

15) Bermuda's triangle

After a hectic week, The weather has been pretty nice, between -6 C and -15 C (23 F and 16 F) sunny and completely snowy. I agreed to meet three good friends to chat about my project and to see if they have the time to help me. Luckily they all say yes, but it will be done in their free time so I can't really demand speed. It is fair since there is not money yet, so I have to work at their rhythm. Slowly, but at least something is done.

Since the (fast) development of Internet, many companies, if not all, have restructured their business strategy. Once you have developed your service/good, once you have set up a bit of organisation in your ideas, and once your implementation plan is going as you planned your business plan, then it comes again the “name” problematic.

We are facing a 3 variables problem:

1. Internet

2. Patents/Trademark

3. A multicultural meaningless name, catchy and possible company name as well

You don' necessarily need to have the same name for the three variables, however, it's advisable, but you must check out that all the names that you have chosen, are available everywhere.

The fact that the domain you are looking for is available it doesn't mean that the patent or trademark might be available and so the name of the company and a possible non multicultural meaningless problem.

It requires a general research in international databases that the name that you want is available, remember the more international you go, the more you have to do research.

If any of the variables is taken or it results negative, you must find a new name. A suitable one, catchy and according to your idea of business.

I certainly did, and still I'm doing, a lot of research. Try the basics, web address, google, yahoo, intellectual property online offices, etc.

As for me, I think I finally found the available name I was looking for so it is time to see if it really is available since now I will start investing money on it.

p.s. Not sauna tonight :(

14) Baby steps

How to sponsor your business idea? Well, there are banks of course, and national institutions in charge of helping the small and medium enterprises. This is the first place you have to visit if you plan to open your business, whether you like it or not.

Why? Well, in theory they do help the entrepreneurs and they give some capital that is destined from the national government budget to “improve” the economy, since most of the economies all around the globe are dominated by small and medium enterprises that employ most of the population. The other two main players in each country are:

• The government: the largest “company” in all the countries.

• The local transnational or large companies: They employ a lot of people, but definitely less than the “government-company” and more than small and medium enterprises. One of their many purposes is to bring capital from other countries and inject it into the national “circular flow of income model” making the country richer since more international companies mean more money coming into the local circular flow and more money means, as well, a higher probability of a major spending in different goods. However, all markets have a lot of imported goods, so we are all the time buying, local and imported goods and services.

Are there large companies that work only in the internal market? Yes, I believe they are somewhere, but not many. One of the main advantages of large companies is to be able to compete with other large companies, in price, service, production, location, etc.

All the governments themselves have shares or ownership in some national companies, like airlines, oil, water, electricity, etc.

Another financing option is private investors: friends? business people? pensioners? your parents? Just anyone.

Be aware that private loans might mean you have to give a share of your business. They have the economical resources to help you build something, so they will definitely want something in exchange. Some investors might not be able to give you money, but perhaps they can provide you with a (essential?) part of your business, like the web page, equipment (computer, printer, fax, etc.), with extremely good luck maybe even the inventory? And so on...

I was once at the opening ceremony of an entrepreneur fair, the opening speech given by a very energetic entrepreneur, who built a successful chain of Cinemas, ended his speech in this way: “It's better to have 10 % of something than 100% of nothing”.

Time to start up and become a part of that economical flow. Ullis, a good friend, who recently came back from South Korea learned something really worth to remember from one of his professors: “making business with money is called playing, making business without money is called negotiations”.

Since I didn't receive any loan and I don't have that much money now, it's time for negotiations...

p.s. And sauna, of course at 21.00 :)

13) Last Friday

The week went by sort of slow, and sort of fast. I finally got the answer from Finnvera the previous Friday 29th: ”No”

The reasons were explained randomly by the financial manager I was assigned to (the same way as the interview). In this kind of situation, I could have understand it for so other reasons (too high loan, no bank warranties, ME, etc.). However, I was told straight certain points:

• ”The project is wrong!”: Noup, the project is extremely good!

• ”The project is too big for you!”: In that case, how did I manage to write it all by myself?

• ”The logistic is wrong!”: Yes, it's not perfect. I agree, but it was a part that can be worked out once the operation is going to start, since I need specific quantities to weigh and to measure for shipping (among other details).

Something that I absolutely disagree. I can understand other reasons, specially about me, but that my project is wrong? That's something I can not accept. This business plan was extremely well planned, if not perfect. There were tiny details that I couldn't polish, but the general estimates were, not even correct, they were real! They were given to me by the manufacturers, they were official information that I found on Internet and other sources, and they were rectified by the people, professionals in their fields, who have helped me in the whole research.

I certainly wait for the written report, which I think it should be based 100% in other reasons, but absolutely not the business idea, business plan and the presentations of the project.

The 3 financial managers, who heard and reviewed with me the whole project in the interviews, were surprised by the good ideas and the business plan.

I replied what if I tried to do it into a smaller project, until the company takes off. Then, I was also told that ”they can't forbide me to re-send the same project again, but it's not likely I will get their approval”.

I was not sad, but shocked about the news. However, there is Plan C, not my favourite and it was though for an emergency. I regret not just the waste of time waiting, but also the though that Finnvera is really committed to create companies. To look after the banks interests is nothing new, because they work in cooperation, to land big projects like mine into a lower level, to borrow money to key projects that really need help, but to reject good projects in the false ground that ”is wrong”. Everytime you hear on the newspapers' headlines ”support for the small and medium enterprises!”, I certainly understand it now much better.

A friend, Sören, came to visit me and give me some support. I explained him all the project and he was also shocked by it, which doesn't surprise me. He also brought me a book :) “Vägen förbi NEJ” in English “Getting past NO” by William L. Ury. I want to thank Sören for being such a good friend all this years, 2 years ago he visited me every day when I was in the hospital and, on Friday after I told him, he went to the library to loan that book for me.

I knew I wasn't going to give up, however, what comes next are a couple of crazy measures. I hope to count again with my friends and family's help.

I know I can do it!

As for now, sauna...