question hour. Fleshing out a business dream

Fleshing out a business dream

I plan to start a website and an app which is totally customer-focussed. I do not have an idea about the major factors involved in creating this dream, such as funding and a trustworthy agency. Please suggest how I can go ahead with this.

Josemon, we live in an age of start-ups. We live in an era where ideas that make for a comfortable life are welcomed. The problem, however, is the fact that there are too many bad ideas in the market than good.

Therefore, the starting point of your business idea should be a dispassionate whetting of the idea by neutral players.

You must approach people you trust and respect to examine the merits of your idea first.

This should be an internal brainstorm. You could approach your former professors, teachers, possibly potential consumers of what you are putting on offer as well. You need to seek neutral umpires who will tell you whether they believe your idea will run or not. You don’t have to take what they say as gospel truth, but get the idea examined first.

Having done that, it is good to put a concept note of the idea at hand. Make it a one-sheeter. Highlight the background that made you work on the idea, the idea and its proposition, its possible consumer appeal, and most importantly how you intend to monetise the idea. Send this sheet out then to a bunch of angel investors, or if you are looking at seriously big money, to venture capital players.

Be ready then to meet them with a presentation that packs not only the idea, but your passion behind the idea as well. This is a great way to start.

Other things will fall into place and most certainly will fall out of place as well, as the journey of your entrepreneurship begins. Take this baby step first, though, and see how things pan out. All the best!

We have selected Amanah as our brand name for our food and ingredient business. It means ‘trust’ in Arabic. What do you think of this?

Theni Syed saab , what's in a name? Nothing and everything.

A name is what you make of it. To that extent, it does not matter whether you call your brand a Red Bull or a Kingfisher or a Butterfly.

As your brand offering establishes repute and consumer connect, it builds equity. It builds equity that is so strong, it makes you even forget the fact that Kingfisher is a bird, or that Red Bull is a bull that is coloured red.

Having said that, it is most certainly good to start with a name that packs meaning and method. Amanah is a lovely-sounding name. Even to those who do not understand the name, it is a nice sound.

Names in the beginning are a sound. Names are a way of articulating brand choice.

Amanah facilitates that beautifully. It is not too long,and not too short either. A long name is difficult and a short name is at times confused with too many others.

Power to your brand dreams, then Syed saab !

Harish Bijoor is a brand strategy expert and CEO of Harish Bijoor Consults Inc. Mail your queries to cat.a.lyst@thehindu.co.in

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