The story of a start-up (part 3): New Partnership

15 days later after our last meeting with S, we met another potential partner, A who showed interest in the idea of Green. Over cups of cappuccinos, we began discussing the idea in detail and crunching numbers and forecasts. The idea was back on track, and it seemed that this is the partnership we have been looking for, that every member of team has set of skills that complements and will help building a strong team to build this start-up and succeed.

After we were on the same page, we were brainstorming on the name of the start-up. D took the responsibility of coming up with innovative names, and we discussed several of them over emails. The common initial vision was to produce apparel made out of natural fibers as our first product with lateral thought provoking pop-art going on them.

D came up with “GreenMaal” and it was chosen 2:1 being voted among three of us. D went ahead and registered the domain name, set up our email accounts and took the charge of sourcing vendors and managing them. He did extensive searches, shortlisted a few, initiated dialogues with them, and finally we chose one with a consensus.

In the next few days D while handling operational functions of the business idea got a partnership contract pulled out and we three signed with thus legalising the partnership over GreenMaal. A was excited, and I was thinking about strategic directions and product development. So we had several rounds of cappuccinos over the next 10 days to discuss the same.

We did extensive brainstorming on various domains of the start-up and were making elaborate strategic plans to implement them and achieve targets. We had set quarterly targets, had worked out logistical details, had started advertising using Web2.0, were on lookout for designers & their designs, had identified potential customers whom we were going to target & pitch our products. Yes, we gave good business to Barista during our entire planning phase!

However, while doing market survey the name of the brand was not getting any good responses beyond some school kids, and so I wanted another name with an appeal for both classes and masses alike. One day while barinstorming on sales numbers on a flip chart, and joking about framing the flip sheets in our new work space, A & D together came up with the idea of “GreenFlip” as the name of the brand. We all liked the name, did extensive searches to see if there’s another company by this name and after being satisfied D registed the new domain name, and we changed the name in our partnership papers. A good name for any start-up is essential [Read about naming your start-up at http://www.stratessence.com/blog/naming-your-business/].

To be contd…

1 thought on “The story of a start-up (part 3): New Partnership

  1. Pingback: Story of a startup: Part 3 « Manu Mayank

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