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5th Guest Speaker - Shadrach White

Mr. Shadrach White, who is the CEO of the cloudPWR company based in Tacoma gave a positive entrepreneurial talk to our class. Mr. White was able to convince me that he is an honest, genuine, positive, and a kind entrepreneur. If I had to choose my favorite guest speaker, he would be on the top of my list. He has much more than a regular CEO. He seemed to be a spiritual guy who is running a business pretty efficiently.

His company's most innovative technology is Airlift, which can utilize in various ways such as online portals for different government agencies. The greatest achievement is that he is generating the profit since the start of the company and he was able to get contracts from many state agencies. cloudPWR just operates in Washington for now and it is doing great. There is no doubt that the moment he takes his company on the national level, his company would be valued in billions.

Even though he was the last guest speaker and we have been listening to entrepreneurs for … to Dot.Bomb

The very first acknowledgment I want to make is that dinosaurs were awesome. Andrew made the lecture pretty interactive and fun to learn from. Most of the companies that were part of this bubble were unfamiliar names to me except few such as Yahoo, AOL, and During the lecture, Andrew asked frequently about students who were not born during the years he was talking about. I was not born until the past middle of the lecture which means I was born exactly during booming years of Starting from 1992 to 2005, the technological revolution is huge and many businesses made fortunes, filed bankruptcies and acquired smaller companies. There were a huge rise and fall of tech startups and web-based services. Anyone with a ".com" at the end of their company name was destined to make millions and later become bankrupt. 
Andrew's analogy of tech company being dinosaurs was pretty logical. Just like dinosaurs, these companies ruled the market for a while. There was … Documentary

Throughout this quarter there was not a single day when bubble was not mentioned. It seems like, all future entrepreneurs are required to know about the history of internet and startup bubble. We watched documentary, which was an enlightening journey of two young entrepreneurs Tom Herman and Kaleil Isaza Tuzman. The documentary takes us through internet company from late 90's)'s exceptional journey of rising to the millions and then filing bankruptcy in a matter of two years.'s basic idea was to make municipal government operations work efficiently. In operational terms, it was a payment portal for citizens to access city services such as paying parking and other types of tickets through the website. Unlike many other dot-com companies of the time, the seemed to be promising because of the well-defined business plan and company's understanding of the market needs. However, govWorks went in the same direction…

Protecting Intellectual Property

I was super confused with the methods to protect intellectual property before our lecture. I always thought that patents are the most important way to protect software-related material but it was far from the truth. Due to the abstract nature of software and different ways to interpret it makes it hard to count it as an invention. However, I will follow a different plan to protect my business idea.
As we discussed in class, the primary ways of protecting the intellectual property are as following: Copyrights (forms of expression such as slogans, writren work, art)Trademarks (unique identifier such as logos, symbols)Patents (Inventions that don't exist before)Trade secrets (Special recipes, mixtures, formula)
My business idea revolves around a mobile app, which is primarily a set of algorithms and a selective service provided by this app. Software's intellectual property has raised many questions in the past and it still does. My first and foremost step is to T…

4th Guest Speaker - John Dimmer

Our fourth guest Speaker was Mr. John Dimmer, who shared his vast knowledge of finance and investing. A friend of Mr. Andrew Fry and an important partner of Free Range Media. Getting funding for the business is one of the hardest things for new businesses. Finance is one of my weaknesses and all the knowledge I have regarding finance is either from youtube or reading online articles. This little knowledge can't really help me so I am glad that I am taking this class and speakers like Mr. Dimmer are invited to share their knowledge. John shared his journey before becoming an entrepreneur. He went to school to get a finance degree and worked in a bank. As Andrew talked about Free Range Media so many times, Mr. dimmer filled the few missing pieces. John emphasized the importance of finance and accounting. He also explained about business types such LLC's and corporations. His views on investing are pretty different than mainstream investors, we can call his ideas somewhat radical…

Price of my product

As we progress through the quarter and the business plan, we need to price our product. since my product is an app, it is little hard to choose price strategy. In general, the majority of apps are offered free in order to achieve broad customer base. Only a few and very useful apps are able to charge its users on monthly basis. My price would definitely cover all costs to run the business plus little profit. There are many factors I need to consider before I come up with that magic number. As Andrew explained that your product's value is what customers are ready to pay for. The example he gave was phenomenal. In their company they tenfold the price and were able to sell more than before and made huge profits.  
In case of an app, I don't think I should even think to go higher than $5. I have to figure out other ways to monetize and make more profits. I have not tested the market yet but my perception is going over $5 would be considered absurd. At the same time, I don't ha…