I would have loved to be working in such an environment. There would be so much to learn and not to mention alot of money flowing around. It must have been such a challenge keeping up with technology during those times, especially for the business owner. So much changed so fast. Learning about all this really makes me re-think my major. A CSS major would be a great investment. I would definetly need to payoff my current student loans before I contemplate going back to school.
Monday, March 15, 2010
Dot.Com to Dot.bomb to dot.?
It was very interesting hearing about the doc com boom from someone that was actually apart of it. It definetly was a story of five stages: An innocent beginning, boom, insanity, bust, & uh- oh bonus stage. It must have been crazy having technology rise and fall in such a short time. If I represented a company in which a $10,000 website became outdated in 6 months I would have gone crazy! That is such a short time value associated with a investment!
Wednesday, March 10, 2010
Michele Armstrong
Michele is the Sr. Manager in charge of recruiting for Vulcan. It was the first time that I heard the perspective of a HR representative and thought it was very helpful.
I have heard about Vulcan for some time now and I find it to be very interesting, mainly because it manages so many different types of interests. It would be great working for a company that does everything from real estate to space exploration! The wealth of knowledge in such a company would be great to be around.
She spoke about how they post job openings on craigslist, through their websites, and use recruitment agencies. I question the use of craigslist due to the type of audience that it attracts. That said, there are alot of people on it and it would mean for a person to be more cautious.
One of the things I forgot to ask her was how does one get associated with a recruitment agency so that I can be a canidate..
Overall a great presentation with alot of good information.
I have heard about Vulcan for some time now and I find it to be very interesting, mainly because it manages so many different types of interests. It would be great working for a company that does everything from real estate to space exploration! The wealth of knowledge in such a company would be great to be around.
She spoke about how they post job openings on craigslist, through their websites, and use recruitment agencies. I question the use of craigslist due to the type of audience that it attracts. That said, there are alot of people on it and it would mean for a person to be more cautious.
One of the things I forgot to ask her was how does one get associated with a recruitment agency so that I can be a canidate..
Overall a great presentation with alot of good information.
Monday, March 8, 2010
Number of questions asked during guest presenations
Too much to count.... Great way to get a perspective of different aspects of so many industries!!
Derik Young
He moved to Tacoma to go to UPS. Seems like that didnt work out for him so he went to work with REI. He spoke about how he didn't get his creative side fulfilled working with REI so he started to do side businesses. His business focus on small niche markets. He started up Exit 133, Suite 133, and seasonal view. I really liked his whole "bootstrap" concept for his businesses, which works great for not being responsible for someones finances.
It is great how he looks for business ideas everywhere he goes. He spoke about one instance in which he started a business with a guy he went running with. Also, how it just takes him few hours to go start a business in Olympia, for only $400.
Though his revenue stream is not constant, yet alone predictable, he is still waiting for his million dollar idea. It is good to see someone who doesn't make millions but still does the work he does.
I really liked the concept of Suite 133. The concept of an "incubator" is great and very useful for start ups. It would be great to one day need to use such a place and have all the workings of a office around you with minimal cost. I can see how many people can take advantage of such a system, who doesn't want office space for $200/month? I would have like to hear why he doesnt contract a equity stake with those companies in exchange for office space and infrastructure.
Tuesday, March 2, 2010
Bruce W. Kendall
Bruce is the president of the Tacoma Development Board. What really sparked my interest was the fact that the Economic Development Board was a non-profit organization and only had 6 people in it. I really wanted to know how the board came to be and how it was given the authority to make deals with corporations. Does the government give them that power? If so, what is the extent in which they can negotiate?
Though there is lots of time spent on attracting established large firms, I see a sort of bias against small businesses and entrepreneurs. I think more time and effort should be made in the locals of Tacoma. Having the backing of the government and all the incentives will help many small businesses flourish.
His discussion and study about primary and secondary jobs was very interesting in the terms of their effect on the local economy. A primary job was defined as making products or service and selling to outside market. With primary jobs the circulation of money in a city increases. Knowing this was very helpful in understanding why cities spend so much effort attracting large businesses to the city.
Though there is lots of time spent on attracting established large firms, I see a sort of bias against small businesses and entrepreneurs. I think more time and effort should be made in the locals of Tacoma. Having the backing of the government and all the incentives will help many small businesses flourish.
Tuesday, February 9, 2010
John Dimmer
Background Info:
-Graduated University of Oregon with a BS in Finance
-Worked for Puget sound Bank (key bank) for 2 years
+It was interested to hear that his key to success when working for the bank was to "pretend to be an idiot." It was a good lesson learned. One should never underestimate the other side.
-Surety Bonds for 7 yrs.
+It was interesting that his work history to date was all strategic. I think that is a very good move to make. He invested nearly a decade investing in himself by working for these companies. I'm sure what he learned is the reason why he is successful today.
- BETA Tester for Internet in a Box
-Media Company
-Firs investments
+He now deals with real-estate investments, Angel investments, and has his own business accounts such as the Honda dealership
Funding Sources Grid
The grid he made was very helpful in laying out the process of funding. It was also very good hear that there are many angel firms out there. That said Angels are in the business of making money and one should be cautious when dealing with them. John did say that investing is the Wild West of Capitalism..
(2) types of Angels: Rouge and Organizations. VC's are for companies that need 4 mil or more and in the Expansion phase.
Great guest speaker and learned alot! hope to one day have his level of knowledge!!
Wednesday, February 3, 2010
John Goodman
John Goodman was great entrepreneur to listen to. she is a very interesting person. I got the feeling that she lives her life based on quotes and sayings.
One of the things that I took away from that day is rthat an entrepreneur is always learning. She spoke about putting 20% of you cash away even if you have to eat roman. I didn't get that her point at first but it sunk in eventually . I think she means that by putting cash away it gives one the freedom to take jobs or be in situations in which you can learn. Her example of her son was interesting. He is working for a failing company but is having a blast! Being able to do that takes a very distinct mindset.
I was glad that she didn't just lecture us the whole time but actually let us ask questions. Her points regarding advisors is something I found very interesting. I feel that itt takes a lot of burden off the entrepreneur if he has a good advisory board, even if they meet for free dinners. It means to me that an entrepreneur doesn't need to know all but put together a team that makes up for his lack of knowledge.
One of the things that I took away from that day is rthat an entrepreneur is always learning. She spoke about putting 20% of you cash away even if you have to eat roman. I didn't get that her point at first but it sunk in eventually . I think she means that by putting cash away it gives one the freedom to take jobs or be in situations in which you can learn. Her example of her son was interesting. He is working for a failing company but is having a blast! Being able to do that takes a very distinct mindset.
I was glad that she didn't just lecture us the whole time but actually let us ask questions. Her points regarding advisors is something I found very interesting. I feel that itt takes a lot of burden off the entrepreneur if he has a good advisory board, even if they meet for free dinners. It means to me that an entrepreneur doesn't need to know all but put together a team that makes up for his lack of knowledge.
John Goodman
John Goodman was great entrepreneur to listen to. she is a very interesting person. I got the feeling that she lives her life based on quotes and sayings.
One of the things that I took away from that day is rthat an entrepreneur is always learning. She spoke about putting 20% of you cash away even if you have to eat roman. I didn't get that her point at first but it sunk in eventually . I think she means that by putting cash away it gives one the freedom to take jobs or be in situations in which you can learn. Her example of her son was interesting. He is working for a failing company but is having a blast! Being able to do that takes a very distinct mindset.
I was glad that she didn't just lecture us the whole time but actually let us ask questions. Her points regarding advisors is something I found very interesting. I feel that itt takes a lot of burden off the entrepreneur if he has a good advisory board, even if they meet for free dinners. It means to me that an entrepreneur doesn't need to know all but put together a team that makes up for his lack of knowledge.
One of the things that I took away from that day is rthat an entrepreneur is always learning. She spoke about putting 20% of you cash away even if you have to eat roman. I didn't get that her point at first but it sunk in eventually . I think she means that by putting cash away it gives one the freedom to take jobs or be in situations in which you can learn. Her example of her son was interesting. He is working for a failing company but is having a blast! Being able to do that takes a very distinct mindset.
I was glad that she didn't just lecture us the whole time but actually let us ask questions. Her points regarding advisors is something I found very interesting. I feel that itt takes a lot of burden off the entrepreneur if he has a good advisory board, even if they meet for free dinners. It means to me that an entrepreneur doesn't need to know all but put together a team that makes up for his lack of knowledge.
Tuesday, January 26, 2010
Strengths and Weaknesses
What do I bring to the Table?
-Experience in various fields
-multiple perspectives
-business edutation
-confidence in success
-determination
-ability to put passion into an idea and get it going
-ingenuity
-i know when to ask for help (when to recruit)
What are my weaknesses?
-i get bored with repetitive tasks
-pitching ideas
-need to know where to find people to recruit
-over trusting
Tuesday, January 19, 2010
Business Ideas
Today's big task is to come up with 5 good business ideas for our individual project...Easy task I assumed but not as easy as I thought. Sitting now for an hour trying to figure something Idecided to free write and open the flood gates of my mind... Ahh my first Idea.
1) Small Business Data Bases - I am working with a company that has some very valuable data, but the only way they store it is in paper files and it would be very time consuming to find it and use it. I talked to someone else in this field that does similar work as we do and they said they had the same problem. I asked them if they were interested in a data base made from access and they asked me how much...sound like that is something I can do. Custom data bases for small businesses or personal use.
2) In Home Network Design - So I've noticed that alot of people are having trouble figuring out how to set up a simple modem and wireless router. Best Buy offers this service, but I'm sure they can use some competition. Target market would be residences, but the tricky part would be figuring out what kind of services they need. Does everyone already have a wireless router..? I need to figure out where the majority is technology wise and I need to stay one step ahead of them, otherwise why would they hire me!
Ok...hmm...What have I seen..Got it! Txt messaging. Last time I checked over 7 MILLION dollars have been raised for the relief efforts in Haitai by Texts alone! That is very powerful and amazing. The future is definitely texting. These days so many people are afraid of confrontations and socializing with people, it takes to long and can be awkward. What if we can get information via txting. Why not email? because texting is faster and you dont need a PDA for it.
3) Texting appliances- I dont have a cool name for it yet but hear me out. What if your car texts you that someone is breaking in or you left your light on. Maybe that would be viable for houses. Bam you get a text that you left your stove on or you left your garage door open.
This idea came to me as I sit here drinking my water...
4) Water bottles that can tell you if your hydrated or not. Needs a fancy name but here is the idea. I'm drinking my water but how much should I drink..? 8 cups a day? Do I drink it at one time or scatter them out?...what if I'm working out or on a hike, do I need more water? So I have an Idea of a water bottle that can tell you preferably on a percentage scale, people love percentages, your hydration level at any given point in time.
Ok last but not least..
5) Solar conversions- I would like to convert a homes power supply to use solar panels. Costs may play a big deal into this one and affordability on the buyers part.
1) Small Business Data Bases - I am working with a company that has some very valuable data, but the only way they store it is in paper files and it would be very time consuming to find it and use it. I talked to someone else in this field that does similar work as we do and they said they had the same problem. I asked them if they were interested in a data base made from access and they asked me how much...sound like that is something I can do. Custom data bases for small businesses or personal use.
2) In Home Network Design - So I've noticed that alot of people are having trouble figuring out how to set up a simple modem and wireless router. Best Buy offers this service, but I'm sure they can use some competition. Target market would be residences, but the tricky part would be figuring out what kind of services they need. Does everyone already have a wireless router..? I need to figure out where the majority is technology wise and I need to stay one step ahead of them, otherwise why would they hire me!
Ok...hmm...What have I seen..Got it! Txt messaging. Last time I checked over 7 MILLION dollars have been raised for the relief efforts in Haitai by Texts alone! That is very powerful and amazing. The future is definitely texting. These days so many people are afraid of confrontations and socializing with people, it takes to long and can be awkward. What if we can get information via txting. Why not email? because texting is faster and you dont need a PDA for it.
3) Texting appliances- I dont have a cool name for it yet but hear me out. What if your car texts you that someone is breaking in or you left your light on. Maybe that would be viable for houses. Bam you get a text that you left your stove on or you left your garage door open.
This idea came to me as I sit here drinking my water...
4) Water bottles that can tell you if your hydrated or not. Needs a fancy name but here is the idea. I'm drinking my water but how much should I drink..? 8 cups a day? Do I drink it at one time or scatter them out?...what if I'm working out or on a hike, do I need more water? So I have an Idea of a water bottle that can tell you preferably on a percentage scale, people love percentages, your hydration level at any given point in time.
Ok last but not least..
5) Solar conversions- I would like to convert a homes power supply to use solar panels. Costs may play a big deal into this one and affordability on the buyers part.
Tuesday, January 12, 2010
1st Blog
The mindset of an entrepreneur was very interesting to read about. My favorite point made in the reading was as follows: "Those who build companies for the primary purpose of attracting ivestment dollars at high premiums are opportunists, not entrepreneurs." These days I find it very difficult to meet a person with that kind of mindset! I agree with the reading with the concept of "concentrating on long-term value can create wealth; concentrating on wealth typically creates neither value nor wealth." Too many businesses these days focus way too much on the generation of wealth for personal gain or the gain of the stock holders. I believe that this destroys the business.
There are many challenges that an entrepreneur may face and that sounds very fun to me. Though being an entrepreneur is something to aspire to I hesitate due to the lack of uncertainties that lay ahead of one. With the weight of student loans bearing upon so many people's shoulders (And mine) how much can one really gamble? Is there a problem with a 8am-5pm?
There are many challenges that an entrepreneur may face and that sounds very fun to me. Though being an entrepreneur is something to aspire to I hesitate due to the lack of uncertainties that lay ahead of one. With the weight of student loans bearing upon so many people's shoulders (And mine) how much can one really gamble? Is there a problem with a 8am-5pm?
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