Mr. Hobo Millionaire

Thoughts On Choosing A Business Name

For those of you looking to start a company, I’d like to share some advice that I missed and/or ignored early in my life. It’s this… when you name your company, make it as GENERIC as possible. Follow me on this…

 

My business naming mistake…

 

In short, I made the mistake early in my business of naming my company with a part of my name. This was around 1997. It started out because I was consulting, and there was nothing else for me to consider. I mean… it was just ME… doing technical consulting/programming. It was never going to be anyone else, but me, so no big deal. The internet was still relatively new. I wasn’t looking to build a “company”.

 

Fast forward 3 years or so, and I had had some small internet success consulting and training on a niche software product. Within that niche industry, I started selling software add-ons. This was the beginning of a 20 year company naming fiasco.

 

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Never Say No

If you want to be successful in business, never say no. Serve your customers. Your customers simply want to be helped.

This post is going to start off with a bit of a rant about a recent, negative, experience with American Airlines. I promise there is much more to this post than just this rant. I’ll share with you some key points on how I was successful with my software company by serving my customers and finding a way to say “yes”. This initial story about American Airlines will be an example of how NOT to handle customers.

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Don’t Set Your Goals Too High

What Do You Mean Don’t Set Goals Too High?

I am all for setting big goals, but goals should not be impossible. Furthermore, you can be a big success with small goals. Let me give you some examples…

You don’t have to have the success of Warren Buffett (Berkshire Hathaway) to be considered a success in investing. 

You don’t have to have the success of Bill Gates (Microsoft) to be considered a successful software entrepreneur.

You don’t have the success of Mark Zuckerberg (Facebook) to be considered successful as an app maker.

You don’t have to own as much land as Ted Turner (he also created CNN/TNT/TBS) to be considered a success in real estate.

You don’t have to sell as many books or have as many podcast downloads as Tim Ferris to be considered successful in media.

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Don’t Screw People Over

A lot of people will do anything, or more specifically, say anything to get a deal done. It doesn’t matter if it hurts the other party. As long as I get the sell or close the deal or win the negotiation… as long as I “win” that’s all that matters.

You reap what you sow.

God

Don’t screw people over. You’ll eventually get screwed over, and then you will know how bad it feels.

Mr. Hobo Millionaire

Have you ever been sold something you really didn’t need? Has a car salesman gotten you to do $2,000 in upgrades that you really had no business buying? I’ve had banks and other financial entities mess me over with fine print… sure it was my fault I didn’t read it closer, but I trusted them… and they betrayed that trust.

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