google "John Dimmer"

John dimmer was our most recent guest speaker. If he somehow googles his name and finds this blog post talking about him then I hope it’s a good blog post. He started off by talking about his background. There were a lot of interesting points said during this informational dialog. This seemed to interlink between what he was also trying to convey at the end of the class. I enjoyed the different views from his perspective on how to raise capital for a up and coming business, since we had other guest speakers that also showed their opinions on how and when to get capital for your company. I especially liked his view on investing, because the risk of investing and companies failing compared to a 1/10 chance a company would succeed; his expected return would be about 10 times what he invested to cover the losses. That’s if only 1 hits but if more than one hits he not only makes his money back but also makes a profit.

more reading......

In the next reading assignment that we had to do, basically outlines the business plan template that we have to write. It started off by talking about the executive summary. Here it explained the importance of an executive summary and what it should convey. Also it should be written last. The next thing it talked about was how the company should be described if a potential investor reads this section and is interested in the company’s goals, and vision statement. In the market size section it states that niche targets do not appeal to investors. The technological part explained that if it is a new technology it should be explained in readable terms, so it’s not too technical to the reader. The next parts were competition, sales, finance, and management.

Give me monies nao

I need funding in order to start my business. One way to get funding is self funding. I could get a job and save up; also I could get credit cards and take money out of savings. The next option and probably would do this on top of self funding, which is to borrow money from friends and family. Most likely I would be able to get money from family and also I probably wouldn’t want to borrow money from friends because I would not feel comfortable borrowing from friends (cuz that’s the type of person I am). But before I start to even think about funding I would need to write my business plan and try and calculate how much I need to start and maintain my business goals. And if/when my business would need to expand I would look into other sources of financing that were mentioned in class.

Sitecrafting brian guy person thingy

The guest speaker was Brian from sitecrafting. They create websites and applications for electronics like the iphone etc. He talked about the offices he had and how he expanded the offices and the reasons for expanding. I thought it was interesting in the reasons why he expanded his business to Spokane, the reason being one of his workers fiancé was going back to school in Spokane, also because he had workers that were commuting from Seattle (one of the reasons he expanded to Seattle). I also like how he was presenting on his ipad, and how they were creating iphone/ipad/ipod apps and I also believe they were designing other apps for other formats. I liked his views on company culture and how he prepares for expansions by expanded when needed. I also liked how they do charity type work; it’s good to know they people do these things (I am not looking for these types of people so I wouldn’t know).

future ideas (5 Biz Plans)

One of my business ideas is to make a fish store, either virtual or physical and have a website. The virtual store would have the ability to create fish and breed them, while the physical store would have a website that you can order fish from and maybe a tank making design program on that website. And somehow integrate electronics into the store other than the normal things that would normally go into a store.

My second business idea was to open an electronics store. In this store I would have items that are not normally bought at a bestbuy and other stores. Sorta like frys but not so far away and not so big. The reason why I thought this would be a good idea is because there are not many stores around anymore (to my knowledge) that compete with bestbuy. It would be a more technical store and it would be interesting to do.

My third idea was to make an Internet café. I feel like there are some around and it would be fun to run. Also I would like to add more to the store, like a server and other things. I would need to hire people probably down the road for this but it is a starting point. I would also like to implement other things, like one very high end pc that costs more to use and have a lot of the high end games. That is one of the ideas I have but I would like to do more with this.

The fourth idea was to start a home entertainment service. Where we would come to the persons house and create home theatres and other things. Like wireless streaming around the house etc. and to create whatever the custom has in his mind to what it should be and do.

The last idea I had was probably a mix of all of these. It would be a general business that would have electronics and a computer repair service. Also go to peoples houses and create an electronic sanctuary of sorts. I would like to have a server in it to for file storage for customers and also possible another server to host gaming. And possible create applications/programs.