Summary of The Technology Entrepreneur's Guidebook

          

       Summary of The Technology Entrepreneur's Guidebook

    In the introduction of the book, the author reveals the five struggles of entrepreneurs in the business world so, the readers who plan to start on this path, know what they are getting into. To construct your business's idea for long-term value, the entrepreneurs need the specific set of objectives and several qualities. One of the most critical skills for the entrepreneur is being able to write a convincing business plan to the investors. Each part is separated with different purposes to meet investor's criteria and, the author noticeably reminds us to make it short while keep the sufficient amount of information. The investors tend to skim the business plan until they found the part that is interested. Off to the first part, you have your chance at the executive summary which reveals to the investor the major part of the business plan. This tends to be kept in one page and, the investors would still be able to pull out all the necessary information. If they move to the part which means you are successfully making them interested in the business plan. The next part is about the company's purpose and product description. Most importantly, it is highlighting the information and offers which will satisfy the investors. How can the product be dominant in the market or how it stands out with other competitors? It's the kind of question that the investors are looking to be answered. Technology entrepreneurs are more than having a good idea, you also need many different qualities and skills to make it to reality. 

Talking About Your Business Idea

Questions: How easy/hard was it to talk about your business idea and why?

  This is the first time that I have ever had and shared my business idea to anyone. It was not so hard because I only think it as a part of the in-class activities and it does not involve with any kind of property agreements. Moreover, the idea still needs some build-ups in order to move forward to the next step. That kind of thoughts helps me to share my ideas freely with my classmates and make them feel comfortable to share their opinions. However, I was still afraid that my idea would not sound convincing or fit their personal needs since I came up with it from a recent experience. They might not find themselves in the same situation and, the idea would become less persuasive. Nonetheless, the purpose of sharing our thoughts/ideas is to discuss it leading to a greater set of valuable ideas, insight and perspective. I also understand that ideas were not meant to keep for yourself instead, I could use it to work collaboratively and develop it. 

3 Business Ideas

3 Business Ideas

• My car recently broke down on the highway and, I had no choice but to call the towing service. I tried to give the best description of where am I located? Still, the driver had some trouble finding me and it took him nearly 60 minutes to get to me. So, my idea is creating an app that helps people contact the nearest towing service easier. By granting your phone’s location service to the app, the driver would be able to find you. Moreover, you can send the pictures surrounding you for easily located.    ( Roadside Assistance App )
• I and my friends have been a fan of bubble tea for a long time and, more shops are about to open in Seattle. However, there’s not much of store that serves a good bubble tea and opening late on the weekends. So, my idea is opening a place where people could hang out together and drink bubble tea at 2am. ( Bubble Tea Shop )
• Phone industry is getting slow as people tend not to spend $1000 on a phone every year. In order for it to last long without buying the company’s care pack and also look good, it needs a phone case and screen protector. My idea is opening a business that sells case made of genuine leather and shock-absorbent materials and, screen protector for all kind of phone on Amazon. ( Phone Accessories Business )