Business Plan reading

Writing a good business plan is important because it works as a sanity check. It shows you if your business proposition makes sense... and if it doesn't make sense then there is very little way that you will receive funding. The executive summary is a summary of all the major points in the business plan. The business plan talks about all the essentials when talking about building a business. You have to take into account the market size, realistically.. if you have an unrealistic goal in mind, investors won't want to invest.. because they want to receive big returns. When you describe the technology that you will be selling/producing it is vital to explain the market opportunity. It is important to be aware of your competitors and not take them for granted, or else you can end up like govWorks.com. Their competitors started to innovate new ways to gain leverage over govWorks, and took them down.

Congressman Adam Smith

The congressman explained how the United States economy is steadily declining while the rest of the worlds economy is going up. We dominated economically in the past, but now other countries are becoming heavily dominant. Congressman Adam Smith believes in technology and the impact it will have on the future. He seemed to have showed some displeasure in the thought that the U.S. could lose the Tanker contract, which would give anther plane manufacturer access to a contract that could have lots of job opportunities attached to it for the people of U.S. He was very optimistic about energy and life sciences and sees the potential that these fields have.

Congressman Adam Smith is very well spoken, and it was definitely a pleasure to hear him speak.

Startup.com

Startup.com was a movie about an online company that was designed to help make paying for parking tickets easier and more efficient. I really enjoyed Startup.com, mainly because in a short span of one year, the co-owners of the company govWorks.com went from studs to duds. Personalities didn't mesh and the long time friends had quickly turned on each other. The movie was a documentary. It showed us the reality of a business starting up, gaining speed, and than getting torn down by competitors and life itself.

I can relate this to situations now, because the clashing of personalities can always happen. There will always be people that do not mesh well together, and writing my business plan I realized that if I co-owned a business... even with my own brothers.. then it could have some negative impacts outside of the workplace because some people will have more will and determination than the other and feel they are doing more work, or the other isn't doing enough work.. and so forth.