The name game

It seems evident that we will have to incoporate as a different entity altogether, as the new investor comes in. I feel nostalgic doing away with the name Symbiotic Media, as it was born during my fsith form entrepereneurship class. I cant say that I was oblivious to the situation, as I had read and studied branding and the thought process that goes with it.

Today we threw names back and forth, giving reasons why we thought a particlar name would suit us best. I also got checking what others have to say about the naming issue.


8 Mistakes To Avoid When Naming Your Business
When choosing a name for your new company, keep these tips in mind to help you find one that will work now--and in the future.

Naming Your Business

How to Name Your Business
What's in a business name? Plenty. Not only must your name reflect your brand and be memorable, there are also a host of legal issues to consider. Here's how to choose a name that'll best suit your business.

Doesnt get any sweeter...

The weekend held some surprises for me. I told you earlier about three angel investor ladies who have agreed to put in some money into one particular product. I have a meeting with them on the morrow where they will put pen to paper on how much they are willing to invest. I am guaranteeing them a pretty decent returen at 10% per month, with full refund of capital at the end of our contract.

A development worth mention is the interest of yet another investor.The name will come later once the direction of the talks is established and the necessary papers signed. The deal on the table is a 50/ 50 scenario. The investor will pump in so much for a 50% stake in the company. If these talks go well, I may have to rethink the 3 lady investor deal, as tis one may be sufficient for the kind of growth and market impact that we need to make.

The cookie crumbles

I did coffee at Brew n Blends, with one of my partners, we are on the final mile, and are hitting the road come September. We have been running a virtual office and it's good to have a face to face chat. We have kept well despite the stresses and strains of the past months.

So today I wrote letters to all my ten retainer clients, telling them about the shift in managing their accounts. It was also a request to hold strategy meetings so I could get a pulse on exactly what workload we are looking at come the next three months.

I so sorely need to develop internal capacity. I can not ditch these clients as they have been my bread and butter and have indirectly funded the tools that are powering the next venture that will consume the next 27 months of my life fully.

Under the radar

Sometimes keeping under the radar is worth the while when you finally emerge from your cocoon.We have finally secured funding from three angel investors and our products are now ready to roll out. It's been a long eleven months of sweat and blood. It's been hard trying to sell to an aged investor group, with them being unable to see beyond themseleves...read beyond their understanding of the supporting technology, which ideally i belive they do not necessarily have to grasp fully.

We attempted to go the VC funding route in the States, via the numerous grants etc accessible to students in certain Ivy League institutions. That hit abit of a snag too...we were asking for too little ...well

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On another note it is intersting to see some of the sleeping giants rise. Telkom has called for vendors of its internet and other value added services. They wish to push down the cost of owning a .ke domain from the current 4000 sh to below 2500. This is to push businesses to gain an online presence. Of note though is that the local market is not ready to pay well for the ensuing web development process. They would be willing to spend upto 300k on a halfpage ad to appear for a day in the local dailies, but would freak out when told their web strategy would cost the same.Its a pity.