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Business Funding Plan

HieroFlux is a startup that will not be making money in the first year or even for the next 2 years, depending on development speed. However, the amount of money that it will take to run the company has been estimated to be around $383,000 a year. This is including all projected expenses, with 3 full-time employees and a salary of $25,000 for the CEO. This means that we are not going to be able to take a loan, and most banks aren't interested in loaning out to companies that have no assets besides intangibles.

This forces us to look at family and friends to invest as well as angel investors. I anticipate funding around10-15k from family and friends, this will give us 3 months of working with one full-time programmer. While we are gathering investments from family and friends we will be going into the Seattle business plan competition in hopes to win or connect with people who are interested in investing in the company, Generating interest from investors and eventually coming out w…
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Startup.com

When we first began watching this movie I thought that it was going to be very awkward and slow. Mainly because the start of the movie was very much like the first season of "The Office". However, once it started going however it drew me in and became very interesting and real. In the beginning, I thought that it was an interesting dilemma when they were arguing about the name and how they handled that because he was someone who is brand new to the company and they are giving him the power of decision and saying whatever you choose we will go with. He did the right move and chose what everyone wanted to be called. It was really interesting seeing the progression of friendships and relationships as the movie went on.

I was going to say in class but we didn't have time, that I think Tom was the one who broke in. I also think that Kaleil might have suspected this and this was another reason why he brought up security measures. I think that Tom was getting scared that he wou…

A visit from Shadrach White

Shadrach or Shad for short was very interesting. I thought his story was very different from everyone else that has come in and it was really cool. The way that he started in his entrepreneurial journey with the street basketball clothing line and everything he did for that community was very inspiring. Something that I have noticed throughout the entrepreneurs that come in and speak is their products and work is different but they are working all in the fundamentally the same way in terms of thinking of money as an exponential thing when you are making it yourself. His wide range of businesses was really interesting as well. I thought it was awesome that he pivoted to such a degree from business to technology and he trusted the process which a lot of people have a hard time doing. He went to school to become one thing and ended up being a copier mechanic for a while which I can't imagine what was going on through his head when he didn't get hired for that. Another thing that …

Speaker- Matt Tolentino

I think that Matt's talk was very informational and exciting. I liked how he really had the mindset of entrepreneurship and using the resources that he has. I thought that when he came in he seemed really nervous but quickly became comfortable when he started talking about his company and his past. I think that this immediate shift shows that he is very proud of what he has done and what he is doing and that is super cool. I also really liked how he used a slide that he created for a talk to the city. I thought that his history in startups and getting funded was really impressive. It is interesting to think about where he would be now if it weren't for the 2008 crash. I had talked with him about his inventions in the past at an investors breakfast last year and where he has gone from then to now is insane. It makes me excited for the future. His talk about UW and their resources has provided me with a wealth of knowledge and resources to use for my startups that I can’t even b…

Speaker Erik HanBerg

Erik is a very accomplished entrepreneur with a large set of skills. The choices he has made the lifestyle he has chased is very unique and I think is an amazing accomplishment in terms of where he is now and where he is projected to be soon. If you are able to provide a stable (or semi-consistent) paycheck by doing your own thing I think that that is amazing. I also would like to touch on his idea of exponential growth. The idea that even at his lowest point of exponential growth that he has had he was able to support himself is crazy awesome. In terms of the questions that I asked him I asked him about his original plan for writing the books.

"Did you start selling the books in an effort to be a consultant or did that come as a surprise?"

"What did you do/what happened that made you go from thinking of your work as a hobby into a business?"

"How does working with your wife go and how did you divide equity?"

Honestly the last questions answer really surpris…

Protecting your Intellectual Property

There are many ways to protect your intellectual property.  The reason why we need to protect our intellectual property is that it is something we created and therefore should belong to us. We want to protect ourselves from people who think they can just take it. We also want to protect ourselves from people inside the company that helped us make it. So when creating a contract writing out non-competes and non-disclosures are going to be very important.  Another way to protect your ideas is through a patent. A patent gives its owner the right to stop others from making, using, or selling that invention for a period of time. Another way to protect your intellectual property is a Copyright. A Copyright is a protection that grants the developer of an original piece of work exclusive rights to who may use it!

Make sure that you are the only owner of the intellectual property, the more people that are "in the know" of your intellectual property the harder it will be to protect it…

The Tech Entrepreneurs Guide Book Review

I really liked this guide! After reading the first ten pages in the book it clarified a lot, specifically in terms of questions that I had about the business plan outline. I thought that the numbers that were given were a little ridiculous in terms of the way they are written and shown. If the stats had talked about the number of companies that failed instead of the number of companies that reached an IPO I think they would have had more effect on me. Most businesses don't reach an IPO. Also in terms of the equity that a founder has after an IPO, I think that this is totally reasonable, I feel like most companies sell around 20-30% and if you include other investments that take up equity and any other partners or employees with equity then this number is pretty reasonable. I did appreciate the fact that passion was brought up a few times in the guide and how it is important. I believe that this is a very important aspect and without passion for entrepreneurship or the project that…