All that glitters is not Gold!

"All that glitters is not Gold!", we know that from Shakespeare's 'The Merchant of Venice'. Its an ancient proverb too! I was reminded of it from recent events over shadowing the world.....Friend, you are welcome to read more in my latest blog below!
Tremors of rampant, mindless distorted Capitalism is leading us into the pitfall of this new vortex & deep abyss springing from the "Affluent Middle Eastern Emirate, which I have termed 'Dubai, LLC'"!

Once again vicariously Capitalism will be faulted though in reality what surfaces is the fact that proprietary questions were never asked or even if they were: by the Lending Institutions and Governements that participated in 'Dubai LLC', the illusions & Blind Faith held precedence over rational thinking on investment policies in this Sheikhdom.....how much more will the mints print.....and to what avail as the blame game does its rounds in the minions of power in 'so called Affluent Capitals"!

This fall out will reveal many matters as plastic smiles will wear thin with the cascading effects of this fall.

It could even shake citadels of power in the Emirate itself as the real loss of wealth will be experienced in this once "Camel to Cadillac" world of illusions and make believe, is forced to come to terms with harsh realities that there is no quick and easy way to Democracy and Institutions and you cannot surely splurge your way to it. It does call for a fair share of blood, sweat and tears.  One only needs to look at the democratic values establised in India and in the West to guage that truth.

To my mind (even though I lived in this emirate for 5.5 years of my life in the 90's and benefited from its good times: being an ardent student of Economics, Finance & Auditing, I could not help wondering then and now) will all that Glitters be Gold ??? .....and if it does perenially then its not in Las Vegas but its in Dubai.  Las Vegas is what it is.  There is no pretence about it.  But Dubai is almost a nation in itself even though its really one of the Seven Emirates of the United Arab Emirates (UAE).

Well those words which I thought in the innards of my mind are coming true and establishing what the original ancient maxim always stated: "All that glitters is not gold".

Some of you may read my blog and think I am a sadist.  NO!  I do feel for many friends who are living there and are enduring all this innocently.  My heart goes out to them just the same way I am  experiencing here in the US with the recession and its own rigmarole. 

Dubai does not have the safety net the Institutions of the US offer its residents and Citizens.

Its a giant LLC (Limited Liability Company) and what an LLC is.  I would not call it "Dubai Incorporated" or Dubai, Inc.  Its Dubai, LLC and the months and years to follow may perhaps justify that reality.  Unless some friendly emirate or Nation comes to its rescue. 

Then again in these times even Nations have only fair weather friends......I sincerely hope that is not the case, 'cause the risk and stakes are very high and the touted 59 billion soverign debt is not likely to be the actual ipso facto of the whole real story either!

From today I believe the blog site that I named "We are 'Like this only'" extends not just to India and the SAARC region but to the World as well.  Especially in the light of this new blog posting.  Accordingly I changed the general note to all my blogs to say "my spontaneous world views..."

Thanks for taking time to peruse this blog.  As always, please feel welcome to comment.  Irrespective of whether you agree or disagree with my views.

The above blog was prompted by the article in the link below:

http://www.nytimes.com/2009/11/28/business/global/28dubai.html

XXX-XXX

The Significance of an Entity's Name

Note: Some of my clients have been laboring over their new Company Name. I always tell them to get their name right for many reasons. I am sharing below views expressed by other professionals too on the Significance of a Name and I have compiled this material from segments of articles authored by others for the benefit of my clients and also to help me conserve energy as I can just point them to my blog instead and hope they get it right! :-)

Significance of the Name of any Business!
(be it a Sole Proprietorship, Partnership, Non Profit or an Incorporated Entity)

Considering the importance of a good business name, it is amazing how little
time and effort many business people put into choosing their company’s name. This lack
of forethought and planning in choosing a business identity is akin to building a home
before checking to see if it is in a flood zone: At least, with the home, local governments
have developed laws to protect homeowners from this foolishness. Spending a little time
and thought about your business name BEFORE building your business may save you a
great expense later on.

Why is Your Name So Important?

Your business name is the first image that your business projects. It is what customers

will remember (good or bad) about your business that will either draw them to it or

send them to a competitors’ business. Assuming your business lasts for many years,

you will have invested a lot of time and money building it. Part of the value of your

business is the name. If you have branded the name, your brand alone might be worth

more than the assets of the business itself. How much are the names: Harley Davidson,

Star Wars, or McDonald’s worth? If McDonald's decided to change its name to Fred's

Burgers, it is obvious that the company would be worth far less than it is now. Why?

Because, McDonald's spent a lot of time and money branding their business name on the

public’s mind. Further, just opening up a McDonald’s restaurant guarantees the

company a minimum amount of revenue because of its name.

What You Should Look For In a Name

So, what should you look for when choosing your business name? Ask yourself the

following 10 questions about your business name:

1.) Is it easy to remember?

2.) Does it tell people what your business does?

3.) Is the meaning confusing?

4.) Is it unique?

5.) Will your business or your market outgrow the business name?

6.) Can it be branded?

7.) Is anyone else using this name?

8.) Is it trademarked?

9.) Can you trademark it?

10.) Can you protect it in other ways?

An effective branding system starts with a great name. Unless you can put a name to
your company that will distinguish it, you cannot proceed with creating a brand. It is
similar to a newborn child, who must first be named before he or she can create their
unique identity. Only then can you proceed with succeeding methods that are aimed at
creating your mark in the market and enabling your business growth.
Creating a Name: Naming a company or brand is not as easy as naming a newborn child.
Indeed, multiple factors come into play such as producing a name with a good recall on
the consumers, the type of product you have in your business, its features and usage, and
other benefits that consumers can experience from using it. That is just one aspect of
what you need to consider when naming your product or brand.
The other end of the formula requires you to envision yourself in the mindset of the
consumers. How is the product useful to me? And what benefits can I get from using it?
Add to that all other competing businesses that offer the same product as you do. These
are all pointers you need to look into if you want to get a share of the market and increase
sales production.

Do's and Don’ts: Creating a business name can be confusing sometimes, either for lack or

excess of ideas that make it difficult filtering them out. Below are a few tips you should

consider when naming a business:

· Opt for memorable and catchy names instead of generic ones that are difficult to

register in the minds of the consumers.

· Never use names that literally describe the product. Go for creative ones.

· If possible, do not use geographical names because it limits the scope of your

business. However, this is an advantage if your product is associated with a given

locale or affinity.

· Refrain from restrictive names to save you from trouble in the future in case you

want to expand your line of business.

· Keep them short so as to produce memorable names.

Name as Part of Branding Strategy: A business name is not just a name; it represents your

business identity. And in the business community, the way you represent and project your

image is crucial in determining success. This is because perceptions, more than the actual

value of the product or services, is essential in helping consumers decide on whether to

buy that product or not. On top of the brand itself, it makes association with the company

and its reputation. That is why most businesses spend and invest most of their efforts on

building a trusted business reputation that will strengthen the trust of consumers on their

company.

Your business name essentially determines how far your company will go in this

endeavor. When people encounter your business or brand, you have only a meager

amount of time to catch their attention. If you fail to do so, then you would have lost a

potential customer. More than just intriguing, a good business name is one that compels

your target market. If you can produce one, then it will surely catapult your business to

your desired commercial success.

A good business name is not just a superficial aspect involved in branding but rather a

legitimate business factor that must be taken into consideration.

As can be envisaged a name is very Significant for a Business. More so in today's realm than ever before!

Thanks for taking time to read and be informed about this important topic and piece of information when you are about to embark on an exciting new business venture. If you are so inclined please also feel welcome to comment on this compilation and the blog!

All the very best in your exciting new and bold venture!

XXX-XXX

Compiled by Koshy P.George, CPA resident of Silicon Valley, CA and includes his own views along with views of other professionals included in other published articles.

http://www.kpgcpa.net/