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By the time you read this you will probably be in a good place after tailgating.  I agree that the name is a brand, and this is one that embodies everything that stand for.  Its going to be one hell of a ride and I can’t wait to get started. 
 
I like the idea of using a holding company as an umbrella for all of our different projects.  You are definately onto something Chris!

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Continuing on with last night’s post, I decided that before I got up today, I would force myself to lay in bed until I could come up with a name that I liked.  I came up with a name that utilizes acronyms that have meaning to me, and tried to make the word sound cool.  Here is what I came up with:
 
ideaFLiTE or idea.F.L.i.T.E  (see pic below for a very unprofessional logo I mocked up)
 
The meaning behind the name is: finding ideas that will allow for a lifestyle the embodys Freedom, Leadership, Inspiration, Trust, Entrepreneurship.  (ideaflite.com is not taken yet)
 
See if you can come up with any names you like based on some acronyms that represent things that we believe in.  Here is an incomplete list of some ideas.

  • A – Ambition
  • B –
  • C – Creativity
  • D – Dedication
  • E – Entrepreneurship
  • F – Freedom
  • G –
  • H –
  • I – Inspriration
  • V – Vitality

 

-Chris

 



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It’s late, I’m tired and I’m in an introspective mood while I am sitting here pondering.

While I have been pondering on the idea of a coming up with a good website name, I have thought a little deeper in what a meaningful company name should consist of.  Not a short term business name, but rather a long term name for a holding company that will create, develop, and sell multiple multi-million dollar businesses.  While we are brainstorming, we might as well factor in everything and get it right the first time if possible.  While my post on $23 Million equaling happiness sounds great, I have to remind myself that it is not always wise to set a monetary target.  I believe that it should first begin by defining the kind of lifestyle that we want to live, then by finding projects that we love and are passionate about.  A company name should be a constant reminder of the end goal.  That is one thing I really like about Collar Free’s name, it’s about a lifestyle.  And Jimmy really seems to live it too, I haven’t heard him talk much about money.  But then again, I haven’t spent a whole lot of time with him either.

So, what I am thinking is that a good name should represent the following qualities:

  • Ability to live comfortably at all times, not necessarily excessively
  • Ability to help out family and friends I love and care about
  • Ability to lead a healthy lifestyle
  • Ability to positively influence, teach and bring happiness to those around me
  • Opportunity to continue growing and learning
  • Opportunity to express creativity through work and life
  • Freedom from any monetary related stress
  • Ability to pursue and attain lifelong goals and dreams

It is likely that I am forgetting some things here, but this is a good start.  To boil this down further, it comes down to what Guy Kawasaki calls a “Mantra”.  If we can define a general [lifestyle] mantra for a company that will weather many storms and see many business ideas come to fruition, I think name will follow shortly after.  A mantra should be something that we can look back on 10, 20 and even 30 years and believe the mantra still applies at that point in time.

I wanted to put my thoughts into words, and there they are.  Tomorrow after I have been tailgating for several hours and hit the point of obnoxiousness, I’ll begin a brainstorming session and put those thoughts down, haha.  Then I can come back and compare notes.

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Even though Google just extened their partnership with Mozilla, Mozilla seems to have all the flexibility they need to promote adoption of their product across the board.  Apparently there is some kind of agreement with Yahoo and Mozilla that alllows for a “Yahoo! Edition” of FireFox that uses Yahoo! Search as the default search engine along with the Yahoo! Toolbar.  Google must not have any say in this matter.  Way to go Mozilla, there is a lesson to be remembered here–polygamy is the way to structure internet partnerships!
 
-Chris

 

 


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The truth about $1 million dollars is that it is not much money anymore.  Using CPI-adjusted inflation figures, it takes approximately $3.6M to equal $1M 30 years ago.  In reality, $3.6M isn’t much money either.  Not that I have anywhere close to this amount of net worth yet, but it the bigger scheme of things, it really isn’t a lot.  (I’m sure you would agree with me on this Mike)  In fact most millionaires don’t feel wealthy, and that is because most of them are worth $3.6M or less.  It seems the “magic number” that needs to be reached in order to feel “rich” is $23M according to a study by Fidelity.  This should be our goal.  In fact, after coming across this article, I feel somewhat compelled to change the name of the blog to reflect this goal.  Thoughts on this Mike?
 
Anyway, here is a quick excerpt from the article in Smart Money,
 
      A million dollars may sound like a fortune to most people, and folks with that much cash can’t complain — they’re richer than 90 percent of U.S. households and earn $366,000 a year, on average, putting them in the top 1 percent of taxpayers. But the club isn’t so exclusive anymore. Some 10 million households have a net worth above $1 million, excluding home equity, almost double the number in 2002. Moreover, a recent survey by Fidelity found just 8 percent of millionaires think they’re “very” or “extremely” wealthy, while 19 percent don’t feel rich at all. “They’re worried about health care, retirement and how they’ll sustain their lifestyle,” says Gail Graham, a wealth-management executive at Fidelity.
 
      Indeed, many millionaires still don’t have enough for exclusive luxuries, like membership at an elite golf club, which can top $300,000 a year. While $1 million was a tidy sum three decades ago, you’d need $3.6 million for the same purchasing power today. And half of all millionaires have a net worth of $2.5 million or less, according to research firm TNS. So what does it take to feel truly rich? The magic number is $23 million, according to Fidelity.

Oh, and in the same article, they state that money CAN buy happiness…

It may not be comforting to folks who aren’t minting cash, but the rich really are different. “There’s no group in America that’s happier than the wealthy,” says Taylor, of the Harrison Group. Roughly 70 percent of millionaires say that money”created” more happiness for them,he notes. Higher income also correlates with higher ratings in life satisfaction, according to a new study by economists at the Wharton School of Business. But it’s not necessarily the Bentley or Manolo Blahniks that lead to bliss. “It’s the freedom that money buys,” says Betsey Stevenson, coauthor of the Wharton study.

Concomitantly, rates of depression are lower among the wealthy, according to the Wharton study, and the rich tend to have better health than the rest of the population, says James Smith, senior labor economist at the Rand Corporation. (In fact, health and happiness are as closely correlated as wealth and happiness, Smith says.) The wealthy even seem to smile and laugh more often, according to the Wharton study, to say nothing of getting treated with more respect and eating better food. “People experience their day very differently when they have a lot of money,” Stevenson says. 

 

Part of my daily routine in the invovles reading though news every morning.  Up to this point, it has primarily been economic, market and other financial news.  Since last week after a conversation with Mike about successful entrepreneurs and the decision to start this blog, I have made more of an effort to branch out into more entrepreneurial and tech related news as time allows.  Hopefully this will help spur even more creativity as we go along.
 
-Chris
 
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References:

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Going back to the theme of cell phones becoming an ever more versatile tool, there is more good news in the wireless applications marketplace.  What the industry lacks is a unversal marketplace for Wireless Applications.  Sure, T-Mobile is rolling out their own version, Apple created the AppStore, and BlackBerry has a store of their own, etc.  But, there is no univeral, easy way to download, purchase, rate and review applications across the many different wireless phone Operating Systems and Wireless Carriers.  This has caused a very slow emergence of companies such as Tapulous that focus directly on this market. 

 

The player that may solve this problem is….you guessed it, Google.  The advent of their new wireless OS, Android, will pave a nice path for Android Market into the wireless space.  Android Market will be open to any and all developers.  The downside that I can see as of now is that the open platform (meaning their is no approval committee like Apple’s AppStore) may result in all kinds of garbage being released, leaving good quailty applications buried in the mess.  But, none the less, this will be a great step forward towards creating a more univeral meduim for Wireless Applications to be released.

THE POTENTIAL:

This is another positive for Project GiPS.  The more paths that GiPS has to the marketplace the better.  In my initial estimation, GiPS could be designed for all platforms, desktop, wireless, or any other handheld with internet access — obviously with cell phones being the target market here. 

Here is a quick excerpt from an article on Engadget:

 

 
Android‘s gaining a head of steam as it heads towards release — Google just posted up some details on the upstart OS’s app distribution system, Android Market. Just like Apple’s iPhone App Store, Android Market will run on Android phones like the HTC Dream and allow users to browse and install apps, as well as comment on and rate apps they’ve already purchased. (Somewhat terrifyingly, Google describes the rating and comment-system as “similar to YouTube,” but we’re hoping the reference is to user-generated ratings in general and not the grammar and language catastrophe that is YouTube comments.) Unlike Apple’s store, however, Android Market will be open to all — Google wants devs to “have an open and unobstructed environment” for their apps, and it’ll only take three steps (register, upload, describe) to put content on the service. The first Android handsets will come with a beta version of Market that supports free downloads only, but a version that has app sales, versioning, and other features will arrive soon after launch — given the number of mediocre apps that have somehow passed Apple’s vetting process, it’ll be interesting to see what shows up in Google’s store with no filters at all. More screenshots after the break.
 
-Chris
 
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References:

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I just read a few articles that made me want to further investigate the idea of forming a strategic partnership to acquire captial.  After reading about the recent deals with Mozilla-Google and Active Networks-ESPN, it really seems like a great way to piggyback on the credibility and success of an established company while at the same time securing capital.  I will need to research more on the logistics/pros/cons of securing capital in this manner, but I do like the general idea.  Below is an excerpt from the TechCrunch article on the Mozilla-FireFox deal:
 
Mozilla, the non-profit organization behind the popular Firefox web browser, has extended its search deal with Google for another three years. In return for setting Google as the default search engine on Firefox, Google pays Mozilla a substantial sum – in 2006 the total amounted to around $57 million, or 85% of the company’s total revenue. The deal was originally going to expire in 2006, but was later extended to 2008 and will now run through 2011.
 
The deal will ensure that the non-profit Mozilla foundation will be able to continue with the development of Firefox, its mail client Thunderbird, and a number of other applications. From Mozilla CEO John Lilly:
“We’re very, very happy about our relationship with Google and this makes sure that Mozilla will be sustainable and thrive for quite a long time to come”.
 
APPLICATION:
 
My thought is that for the GPS project brainstormed a few days ago — which I am now dubbing Project GiPS (Global Interactive Positioning System) — a similar deal could be made with Google to license their search technology.  Their search technology could be used to crawl, index and search from the Retailer Inventory Database created from participating merchants.  The benefit here would potentially be:
 
1) Access to a pre-existing, proven search model saving months of work creating a new search engine
2) Start-up capital
3) Credibility gained from Google’s backing
 
Keep in mind that Google doesn’t necessarily have to be the strategic partner here.  Several other options that I would highly consider would be Cuil (launched publicly less than a month ago, staff includes ex-Google employees, claims more efficiency than Google) and of course Yahoo which is attempting to grow their market share in the mobile space. 
 
-Chris
 
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References:

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The need for an IdeaTap (name is arbitrary and can be changed) will become necessary as we continue to brainstorm ideas.  My thought is that we keep a prioritized list of the best ideas and create a way to monitor progress on each until 1 of 2 things happens.
 
1) We determine the project has a great potential that deserves a majority of our attention
2) We deem it an idea that can be tossed aside
 
The difficulty I see with IdeaTap is that each project would essentially need it “own blog”, or at least a way to categorize the posts by topic.  This is a function that Posterous does not yet allow.  We may consider in the near future adopting another blog site such as Blogger.com, WordPress.com, or TypePad.com.  The latter 2 have a greater scalability if we wished to customize or integrate it into another website in the future.  However, Blogger has been the easiest to use for me.  As an example, you can check out the following that I have created:
 
http://enginemaxxblog.com – WordPress – customizeable, but not as user friendly
 
http://rethinkarchitecture.blogspot.com/  – Blogger example (notice how posts are categorized by labels. Clicking on a label will bring up all related posts.  We could use a similar system for each idea, by assigning it a label.  Blogger is what I used when I was playing around with a blog for Full Contact Outlet)
 
As an idea for transitioning, we can adopt a new blog format to play with and still keep the posterous as a tool we use to post when all we have access to is email — a sounding board, or a draft board if you will.  The entries can be refined and moved into the IdeaTap.
 
As an alternate idea, we could start an entrepreneural blog that feeds ideas to other people and see if we generate traffic.  The compromise, however, is that we would be giving up our ideas to the public.  Anyway, just throwing some ideas out, let me know what you think.
 
-Chris
 
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Referenced in this article:
 

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Found this in an AP article this morning.  The interesting number that jumped off the page is that sales in the BRIC countries are growing at 10x the rate of the US.  Dell has changed it’s marketing strategy to capitalize on the growth potential abroad.  The opportunity for us in the tech space continues to grow worldwide…

Dell, based in Round Rock, Texas, broke with its usual development and marketing strategy for its latest products, Felice said.

“We used to design products for global requirements and distribute the same product globally,” he said. “In this situation, we started with talking to emerging country customers, designing a product for emerging countries, and our initial launch of the product is only in emerging countries. That’s a big departure in our strategy.”

The new Dell models were created by a Shanghai design center set up to focus on emerging markets, Felice said.

The move reflects a growing focus by global computer, automobile, consumer goods and other companies on creating products for increasingly prosperous customers in China, India and other emerging economies.

Prices for the new Dell Vestro notebooks will start at 3,299 yuan ($475) and for the desktop PCs at 2,999 yuan ($440).

Dell and rivals Hewlett-Packard Co., Taiwan-based Acer Inc. and China’s Lenovo Group are expanding aggressively in emerging economies as sales growth in the United States and other developed markets slows.

Dell’s first-quarter sales in China, India, Russia and Brazil — markets known collectively as BRIC — grew by 58 percent, about 10 times the U.S. rate, Felice said. He said Dell expects 20-30 percent annual growth in those markets in coming years.

 

-Chris

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Sources:

http://biz.yahoo.com/ap/080827/china_dell_cheap_computers.html

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Boy does this sound familiar.  Am I having Deja Vu?  A company called www.mygazines.com has launched a website in which users can share magazines they own by scanning them into the sites database.  Users can peruse the latest GQ, Entrepreneur, etc. without having to pay that pesky subscription price. 
 
I really don’t know how long they will be able to keep this up, but until then ENJOY SOME FREE MYGAZINES!

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