I personally thought Shadrach Whites presentation had the most information out of all of the visitors so far that I could use going forward in my career. Shadrach's mottos of "be a revenue hawk" and "make friends early but known when to run" were the two main things that I took out of his presentation. He preached often about how business can always be solved with money and how being able to understand what buying/selling actually means is very crucial. I liked hearing his tips of advice starting with smile, make quiet time, and read. I thought it was very impressive how he's created and started up four businesses already but he started with landscaping businesses, laid bricks, dug ditches, and even worked at a retail outlet. I found all of this so impressive because he didn't go to college and got a certificate for network engineering at some small college later on. I was intrigued hearing about his businesses, Financial Systems, Sportsware, Axiom Systems, and now CloudPWR. His biggest product in CloudPWR, Respond, was very interesting in how basic yet efficient it really is. The last thing I really liked hearing was his response for financial planning. He said that an entrepreneur should always have cash reserves and a budget that they follow. He said he always has a plan 2-3 months in advance which I found as very good advice.
Monday, February 27, 2017
Shadrach White
I personally thought Shadrach Whites presentation had the most information out of all of the visitors so far that I could use going forward in my career. Shadrach's mottos of "be a revenue hawk" and "make friends early but known when to run" were the two main things that I took out of his presentation. He preached often about how business can always be solved with money and how being able to understand what buying/selling actually means is very crucial. I liked hearing his tips of advice starting with smile, make quiet time, and read. I thought it was very impressive how he's created and started up four businesses already but he started with landscaping businesses, laid bricks, dug ditches, and even worked at a retail outlet. I found all of this so impressive because he didn't go to college and got a certificate for network engineering at some small college later on. I was intrigued hearing about his businesses, Financial Systems, Sportsware, Axiom Systems, and now CloudPWR. His biggest product in CloudPWR, Respond, was very interesting in how basic yet efficient it really is. The last thing I really liked hearing was his response for financial planning. He said that an entrepreneur should always have cash reserves and a budget that they follow. He said he always has a plan 2-3 months in advance which I found as very good advice.
Monday, February 20, 2017
Mission Statement
Trackahol, an application firmly committed to pinpointing, protecting, and preventing lives from being taken from drunk driving.
Tuesday, February 14, 2017
John Dimmer Visit
John Dimmer, a Cloverville Park High School student just like Andrew Fry, visited our class to talk about his experiences with the entrepreneurship lifestyle and the many businesses he's associated with and has been associated with. Even though Oregon is a big rival to UW, I still respect him for attending that school.
John really broke his presentation into two big things: the big idea and funding. He made is very clear how big of a deal funding really is and all the tons of ways people can make money to start up their businesses. He talked a lot about the main funding source, Equity, specifically on "what is your company worth" and "how much money do I need." He also talked about Debt and briefly mentioned others, such as Grants, Business Plan Contests, etc. He preached how expensive Equity is and how young entrepreneurs are very uneducated about how important Equity is in the long run. He sees these young people giving up way too much equity, sometimes even more than 50%, giving up the control of the company, causing many concerns going forward.
He also talked about establishing the raise, company control, angels, and vc. Overall, I was really fascinated with the companies he currently has ownership in. He talked about owning half of a Honda dealership in Oregon, Round Table Pizza, and even AirStream Trailers which I am very familiar with. I found John Dimmer to be very inspirational and his presentation definitely taught me some business related terms that I didn't know about before the presentation.
John really broke his presentation into two big things: the big idea and funding. He made is very clear how big of a deal funding really is and all the tons of ways people can make money to start up their businesses. He talked a lot about the main funding source, Equity, specifically on "what is your company worth" and "how much money do I need." He also talked about Debt and briefly mentioned others, such as Grants, Business Plan Contests, etc. He preached how expensive Equity is and how young entrepreneurs are very uneducated about how important Equity is in the long run. He sees these young people giving up way too much equity, sometimes even more than 50%, giving up the control of the company, causing many concerns going forward.
He also talked about establishing the raise, company control, angels, and vc. Overall, I was really fascinated with the companies he currently has ownership in. He talked about owning half of a Honda dealership in Oregon, Round Table Pizza, and even AirStream Trailers which I am very familiar with. I found John Dimmer to be very inspirational and his presentation definitely taught me some business related terms that I didn't know about before the presentation.
How To Protect My Idea
My first thing I'd want to do to secure my idea would be to patent my "tracking of alcoholic beverages." I've looked online and this idea isn't patented yet so that's good to hear. I think that this patent will allow me to use this technology with nearly all alcohol beverage companies in the future. The market for alcohol in the world is massive and I think this patent can change the way I approach expanding to the bigger companies in the alcohol market. My initial plan was to go for smaller beer manufacturing companies at the start.
Other than a Patent, I feel that having tight trade secrets would be very important for this business to succeed. I feel this business is tied very closely in with the government and the standards with DUI's and drunk driving. I feel that alcoholic beverage companies would absolutely support what I'm trying to accomplish and would love to be apart of the change I'm trying to create. The main big secret would be not telling the public domain about these chips built into alcoholic beverages. I think that this secret is very important because once one person outside of the government and law enforcement hears about, the whole world will find out and it will make people find sneaky ways to hide from this.
A big thing is I don't want a trade secret to kill this business if leaked because theres always that chance. In this case, I don't think this will kill my company if leaked. In fact, I think it will make people more cautious the next time they decide to drink and drive.
Other than a Patent, I feel that having tight trade secrets would be very important for this business to succeed. I feel this business is tied very closely in with the government and the standards with DUI's and drunk driving. I feel that alcoholic beverage companies would absolutely support what I'm trying to accomplish and would love to be apart of the change I'm trying to create. The main big secret would be not telling the public domain about these chips built into alcoholic beverages. I think that this secret is very important because once one person outside of the government and law enforcement hears about, the whole world will find out and it will make people find sneaky ways to hide from this.
A big thing is I don't want a trade secret to kill this business if leaked because theres always that chance. In this case, I don't think this will kill my company if leaked. In fact, I think it will make people more cautious the next time they decide to drink and drive.
Monday, February 6, 2017
Business Idea Cost
I have not fully liked all of my ideas that I have came up with but I came up with a new one that I will do for this project.
This new idea is an identification system that would help out the police primarily, but also other security departments possibly as well. My idea is involved with the internet of things (IOT) and my idea is putting a chip in alcoholic beverages, either inside the can/bottle, or epoxy the chip underneath and this will be used to store a simple code. With this chip, I'd create an app for the police departments to use which will use bluetooth to track these chips. If a car goes driving by and a cop scans and see's these chips, he can follow and pull them over. The data on these chips might consist of, temperature change to see if the alcohol beverage is open / a string programmed in to give a code on what the beverage is, just from the app.
As far as cost goes, I would patent this idea of tracking alcoholic beverages. I would then go to beer companies (Budweiser, Budlight, Coors, etc.) and offer my technology to their manufacturing headquarters. I would want a royalty for every beer that has my chip in them. I think a 1 cent royalty would add up very quickly because the alcohol market is a big market. I would then offer my application to the government, but more specifically police departments. I would offer the mobile application at around 40$ per police officer. This app would constantly be updated by my software team and would be instant in finding chips because it would go straight from the app to the chip, no internet needed, only bluetooth.
I would be open to putting my chips in every alcoholic beverage company if they were interested, offering royalties as my main way of making money.
This new idea is an identification system that would help out the police primarily, but also other security departments possibly as well. My idea is involved with the internet of things (IOT) and my idea is putting a chip in alcoholic beverages, either inside the can/bottle, or epoxy the chip underneath and this will be used to store a simple code. With this chip, I'd create an app for the police departments to use which will use bluetooth to track these chips. If a car goes driving by and a cop scans and see's these chips, he can follow and pull them over. The data on these chips might consist of, temperature change to see if the alcohol beverage is open / a string programmed in to give a code on what the beverage is, just from the app.
As far as cost goes, I would patent this idea of tracking alcoholic beverages. I would then go to beer companies (Budweiser, Budlight, Coors, etc.) and offer my technology to their manufacturing headquarters. I would want a royalty for every beer that has my chip in them. I think a 1 cent royalty would add up very quickly because the alcohol market is a big market. I would then offer my application to the government, but more specifically police departments. I would offer the mobile application at around 40$ per police officer. This app would constantly be updated by my software team and would be instant in finding chips because it would go straight from the app to the chip, no internet needed, only bluetooth.
I would be open to putting my chips in every alcoholic beverage company if they were interested, offering royalties as my main way of making money.
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