Sunday, March 3, 2019

Business Funding Plan

In order to start the business with the correct products and services offered, there would need to be funding. The costs and expenses that go into this would be aimed towards items used in the store. The items used would have to do with inventory and management.

The first steps in funding planning would be to list all of the expenses that are required. After doing this, I will then be able to add up a total amount of expenses required for funding.

The main expenses will be management costs from paying employees, as well as keeping equipment and starting equipment. Then there will also be the cost of the property used. With all of this added together, planning for getting funding can begin.

Since startup costs will range around 10-$15,000, I will go to local movie venues searching for events that will gain access to a possible angel investor. Other than these investors, a fundraising campaign will take place at local movie events, advertisements will be put out to get the business known.

Sunday, February 17, 2019

Second Guest Speaker

The next speaker we had visit was a good amount different from the first. Matt Tolintino spoke about his various experiences in school as well as in business. He was one of the first original classes to graduate from UWT back in 2002.

Matt spoke about his involvement with Namatad. Also his experience at Intel was very informative. He joined them in 2000 and was one of the first to begin working on 64 bit architecture in processing chips.

His most recent project is the Firefly invention. This is a technology system which allows firefighters to understand building structures even as they are collapsing. The technology involves the uses of drones combined with wireless communication and routers.

Monday, February 11, 2019

Guest Speaker Presentation

The presentation by Erik Hanberg gave a good deal of insight into the world of business ownership as well as publishing and marketing. There were many reasons why the presentation was helpful overall to what we have been studying in class. Erik had a number of different works he had been generating revenue from on multiple different streams.

The methods of which that Erik had used involved managing different types of podcasts targeted at the Tacoma audience and scene. He also managed the Grand Cinema for a time. Working with his spouse had proven to be profitbale as well.

His companies included Horatio, Side x Side, and Suite 133 which was a office share business. What surprised me the most from the presentation that Erik not only published non-fiction but fictional titles as well. I learned a great deal about how difficult it can be to run a business.

Tuesday, February 5, 2019

Protecting Intelectual Property

There are many areas to consider when dealing with ideas to start businesses. You first have to make sure that no one else is going to take from the idea when it is first being created. There are multiple ways to do this.

One method would be to consider getting a trademark for a certain signature that is unique to a company. After purchasing the correct trademark rights to the logo or other design, then others will have to pay royalties in order to use or manipulate the design.

Another method would be to acquire a patent for a certain method or technique that is used while in business operation. For instance, a restaurant with a secret sauce would want to have a patent for this recipe being used so that other competitors would not be able to copy.

When creating a business, there is often a good method of protecting intelectual property that does not involve patents. For instance, there could be a good amount of innovative ideas constantly made that will make it so that there is too much changing within the business to actually steal.

A final method of protecting these ideas made from individuals is to try not to engage in any joint ownership of a company. If starting a business with an idea, make sure this is your business and not someone else's. A joint partnership will allow others to gain access to your work.

Wednesday, January 30, 2019

Technology Entrepreneur’s Guidebook Review

This guidebook shows a good amount of material having to do with entrepreneurship in general as well as some rules and best practices. There is information regarding sensible business planning, as well as raising capital, accounting, legal issues, etc.

This guidebook sees entrepreneurship as a way of life or a way of conducting oneself. This is a force that makes one drive to be better and faster. The book highlights how difficult it will be to become an IPO. Technology entrepreneurs will generally aim to solve existing problems. Many people confuse this job with someone who identifies the latest and greatest technologies. However this is often not the case.

An important objective is to build value over time that lasts for a long period. Sustainability is very important. This means that the goal is to create something of lasting quality. The third objective listed is to have a great amount of freedom. More discipline is going to be required as a result of this.

Moving on to sensible approaches to business plans, the guidebook describes the importance of writing out the plan. The two reasons to be aware of is that this will require intense analysis on whether the business proposition even makes sense, as well as being able to tell the story of a business through that plan. Most investors are going to only briefly glance at this plan, only reading certain areas of interest. This was a very informative reading! Very helpful for the plans we will create.

Thursday, January 24, 2019

Idea Feedback!

Meeting up in a group of peers to bounce ideas of one another is a little difficult at times. This would be mainly because their will eventually be a need for criticism. When a good amount of critical review is done, it is not uncommon to find out that maybe there are certain areas of the plan that still need to be thought out in more detail. On top of that, one might even find that the idea in general, is not really a good one. You are going to have to find this out sometime! I did find out that my designs have for the most part already been created in some form, but there are still services I can offer to make the plans more unique.

There are certain areas of meeting in a group that are more doable than others. For instance, a group collaboration session can strengthen a bond or make connections within the group stronger. They can even be made to be enjoyable in some cases, believe it or not. If there is an exciting idea presented, it can be fun to see how a group becomes more and more involved.

I asked some students what they thought about my overall designs and I was met with mixed feedback. I think it is the most difficult to accept negative feedback on something you put effort into. Accepting this information can make the idea seem not needed, but the ability to listen to why the design could be a bad one may end up being what gives it the most strength at the end!

Tuesday, January 15, 2019

Ideas to Start a Business

Through all of the inventions and gizmos I have seen over the year, I have taken notes on which ones have made large impacts in the everyday life of individuals as well as groups and businesses. Also to mention, there are not just tools that have been created, but also simply new ways of doing tasks that has also lead to great business ideas.

There are so many great businesses out there today to take notes and ideas from to gain inspiration. Every business seems to start with an idea or initial process that needs to be very well thought out in order to be truly successful. All that being said, here are some ideas that I have come up with that I feel may have some potential in today's competitive markets.

My first business idea would be to create an organization in charge of monitoring drive times, commutes, and car pooling strategies. This business would not only create a platform for people to use to stay more on track, but would be used exclusively with companies that have large groups, and sub groups of people working in the same areas. This would mainly be for companies and institutions with over 50 people.

Another idea I have come up with would be to create a company dedicated to helping individuals search for community volunteer opportunities. The major difference between this and another similar service, would be that this company would have physical offices in major cities that would allow members of the community to post jobs that require volunteers. This would typically be aimed at volunteer work that directly benefits community health. The factors include waste management, animal health/safety, senior citizen/disabled assistance, food distribution, etc.

My last idea would be to create a business that works specifically just to gather items for individuals during the day and getting them to the person the same day. This would typically be a service aimed mainly towards common errands such as purchasing small items from the convenience store, or even large grocery orders. Let someone else sit in all those stop lights for you! : )