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Business Funding

Money is a big worry when we starting a business, no matter it's a small business or it's a big one. And I wonder who wants to lend thousands of dollars to a business that doesn’t even have revenue yet? By thinking about that since I don’t have a business started up yet, I likely have to borrow money based on my personal finances.
while LÜG-ER 's products haven't been fully developed yet and they will be launched year by year, so the first year will be low revenue. With these considerations in mind, I would go for self-funding, family and friend, and later on will be equity and debt. For first year, because most of the year, LÜG-ER is gonna spend time to finish the permanent RFID tag and building airport RFID baggage tracking system. The revenue can be really low, so I have talked to my parents and friends about this business and got their approve they will help me out with around $250,000, me personal having $30,000 and the rest will go with loans by using business c…
Recent posts

The rise and fall of govWorks

The movie started with the graduation scene, and their mission statement. "You have the right to attend a town meeting in your underwear, to me it's very funny, interesting, and caught up my attention though it. Start with the company naming part, Kaleil kept going back and forth with name, he needs to give out the first big decision, then Tom broke the tension and told Kaleil to take the time, walk out, think and come back with the final thing, it's very helpful when you need to stay in calming mind and make decision rather try to push yourself that you need to make a good one right away. The questions they were asked about their business are also what we went through in class. In next time, the thing surprised me the most is the guy making most money is the guy who left first, and the money he asked for is less than what he deserves which is 20%-25% of the company value, which depends on how much he put in the company since beginning.  When the broke in happened, the f…

Shadrach White

Shadrach White who is the CEO of cloudPWR The company which is found in 2011 brought us an interesting story. Through by his timeline, it shows the upside and the downside of the Entrepreneurial life, it's like a roller coaster. He started with Rucker Park Basketball Gear which sells the jersy for NBA teams. In the beginning, the business was successful, however it failed because he was lacked of financial knowledge. That's also a important thing to us to remember when we start something, financial is what a business needs to know. They need to keep track the cash flow of the company, otherwise we don't know when we lost the more money, and how much we lost, it sounds like gambling. But in the story, I see he has a really special mindset which is he isn't scare about doing the thing he think it's right. While he walked through the dangerous street to ask for name permission, he knew he's doing right thing, he knew his goal that he needs to do it, and he didn&#…

Matthew Tolentino

This week guest speaker, Matthew Tolentino who graduated from Tacoma and work as Assistant Professor within the Electrical and Computer Engineering Department. He's founder of Intelligent Platform & Architecture (IPA) and developed technology which helped Tacoma Fire Department problem. The interesting is he had no idea with their problem at first, he just went straight and ask "what is your problem?" Somehow it's a good way to find out. Compare to Erik, I felt like Mathew has more engineering side in him more than business, but he knows the core of the entrepreneurship. He developed his product in term to solve tracking chemical spills and the “lost firefighter” problem. And when he talked about RFID systems and bread crumb trail so they can calculate the situation inside the building before the firefighters going into by transition every firefighter into a mobile sensing platform. By that, the department can get the information location, floor-plan, and vital …

Erik Hanberg Story

Since I have no experience about making a business, it's nice to have a person who has a successful business, who rolled through ups and downs in business life came to the class and tell his story which helped me imagined more about that world. The first thing I heard from him is really surprise me which is if I have a business idea, start it, even though I don't know what it's gonna be, where it's gonna go. I'm a person who always think a lot before doing anything, if I don't know where I go, I'm not gonna start anything, you could say that's I'm hesitating a lot. And after that, Erik shared more about his life, how he maintains his money flow and keep the base for his main business by he and his wife doing different things beside the main side x side business which is teaching, writing book,...The money from it is lower than the main one, but it seems less peak up and down, so when things happened for the main business, he still has a back up pla…

How to keep your Pandora Box safe!

RFID tags keep track with owner luggage which include RFID tags and app works on devices to get data for customers. The Operating Environment include: 

Hardware platform:
Phone/tablet (IOS/Android) displays the baggage location for passengers. RFID tags broadcast long range to RFID readers continuously to update baggage(s) location. RFID reader which can read RFID tags from 10 centimeters to 100+ meter away to meet the demands of the business environment.RFID Antennas work together with RFID readers to read RFID tags Software:
Data will be retrieved from RFID reader using Java language.The Application will take RFID data along with the Google Maps data which will then display the location of the baggage.GPS Google Maps which will be a cooperative database to support location information.
For the Hardware platform which has RFID tags and RFID readers are produced from business which will need patent for tag designs and the technology, plus we can have the company icon on each tags and rea…

The Technology Entrepreneur’s Guidebook Review

The content in first ten pages of The Technology Entrepreneur's Guidebook describes Entrepreneur's aspects succinctly. In three pages 2 to 4, the book defines what is Entrepreneur's life, how its path looks like, what difference between Entrepreneur with Opportunist, how things work in Entrepreneur, and what things are important to become an Entrepreneur. After I read all of these, there's an uneasy feeling inside me. It's like I'm facing the ocean, which is so vast that I can drown in it. Furthermore, the feeling is also interested in Entrepreneur field after seeing how freedom it is, how big we can grow if we survive through all the risks. It doesn't really surprise me about five facts prove Entrepreneur is not an easy way to walk on. There's no easy way to reach and get huge reward at the end. To obtain, you have to give up something of equal value, and when you can't find the door, make your own this is how I see Entrepreneur after I read just …