Sunday, March 10, 2019

Funding for your company

Funding for your company 

   First, I would look into my saving account, and pull out as much as I possibly can. That amount would probably be enough to get me to build the first prototype to attract the investors. My first priority is family and friends because I think I will get the most money from them. If family and friends were not enough to start the business, my next options would be looking for the angel investors. However, an angel will only invest if they see the company's potential, and not afraid to lose their investment. Most importantly, they agree to provide capital with an acceptable term. 

Start-up

Start-up


    Start-up is a documentary movie about the journey of two young entrepreneurs, Kaleil and Tom who start up their business called govWorks. Spoiler alert, the company went bankrupt in 2000, but it's a good lesson for whoever wants to build their own company. During the first part of the movie, the two partners went all over the place in the US to look for investors. There were lots of struggle during this period. During the trip to Boston, they had trouble with legal representation, but they were able to get over it by few phone calls. Still, they closed the 10-million deal from one of the investors. However, it was not always a smooth ride as their third founder decided to leave the company, and took back his investment plus interest. This is due to his belief in the company's success. Even though Kalei and Tom still had high hope for the company that they worked so hard to make it from an idea to a company.

    Over time, their company gained more employees as the company's service is getting ready to launch. Their company soon appeared on TV and headlight of business paper, and they finally got the attention they deserved. While the company was getting closer to the milestone, a few competitors started to copy to their idea. Moreover, their website was not functioning as they expected, and they began to run out of money. This is where the company's situation started to go downhill. The company was broken in, and lots of equipment was stolen. They started to run out of money while the website had not reached its stable stage to be released to the users.
   
    In my opinion, the business world is a tough place to be, and an idea to be a success must be based on the practical purpose. Kalei and Tom had a great idea but, I think if they had their concept placed in a few years later, it would be a huge success. People at that time don't need to have access to the internet as people nowadays. But, I have to admit Kalei and Tom as they must have lots of courage to bring their idea to life, and to get them a better life.