Launch a company

I have been busy reading up on a few articles and resources on how to start a software or high tech company and decided to share the resources i obtained :

Books:

a) High Tech Start Up, Revised and Updated: The Complete Handbook For Creating Successful New High Tech Companies

b) High-Tech Entrepreneur’s Handbook: How to Start & Run a High-Tech Company

c) Zero-to-IPO

d) Betting It All: The Technology Entrepreneurs

I will be posting reviews of these books shortly.

Also, here are some great articles from the web:

a) Building your own startup technology company part 1

b)Building your own startup technology company part 2

c) Building your own startup technology company part 3

d) Building your own startup technology company part 4

e) Business basics for Engineers-Great read

I came across an interesting post about the typical profile of the tech entrepreneur in the US
A Profile of the US tech entrepreneur

It highlights some interesting statistics about tech-entrepreneurs:

- Most start their companies around age 39
- 92 % received a bachelors degree, 30 % masters and 10 % ph.ds.
- 45 % start their firm in the same state that they received their degree
- Most start ups averaged a revenue of $5.7 million and employed around 42 workers.

I am in my early 30s, and hold a masters degree, but have moved away from the state where i earned my degree. I don’t live in the silicon valley, nor am i in a city well known for tech startups.

Whats your profile? I would love to hear your comments on your background, what age you started your company etc..

Heres a first stab at the various goals/milestones and time lines i have set for launching my company..Actual dates may change based on how things shape up.

Goal Target Date
Market Research 5/2009
Opportunity Validation 6/2009
Business Plan 9/2009
Software Prototype 6/2010
Incorporate 7/2010
Build Team 12/2010
Go to Market 12/2010
Get to $1 Million Sales 12/2012
Raise Angel Funding 1/2013
Expand Revenues to $10 Million Sales 1/2015
Raise Venture Capital 1/2015
IPO 1/2016
Expand Revenues to $100 Million Sales 1/2017

Lessons Learnt- From Another Entrepreneur

Do check out this video.. Young entrepreneur Ryan Allis shares his thoughts on entrepreneurship..

Started his first company at 12, a computer whiz, wrote a book zero to million - how to go from zero to million dollars in sales by Age 18.

Ryan Ellis is a tech entrepreneur ..and shares my passion for building great tech products that can help make a difference in the world..

Some takeaways

- build relationships for the long term

- take that first step - take it beyond the business plan..

- have clear goals.

Do also check out his site : Zero Million
or his personal blog at Ryan Allis Blog

I found this great guidebook published by MIT. It provides valuable information for the new tech entrepreneur

MIT Tech Entrepreneurship Guide

I plan on finishing reading this in the next few days..Will share my thoughts on this guidebook shortly.

“Follow your passion! Do what you love! Do what you do best!”

I’m sure most of you may have been told this in some form or fashion.

This is certainly very relevant to entrepreneurs. I’m passionate about technology, specifically, building innovative technology solutions that help change the world for the better.

Having spent the last 10 years in the high-tech industry, i have come to realize that this is one of the most exciting industries that continues to play a vital role in todays economic climate and will only grow in importance as more businesses look to innovate and get more agile and competitive.

More on my interests and research on the high-tech industry to follow…

Granted! It takes a lot to be a successful entrepreneur. However, as much as an uphill climb it might seem, we must firmly believe that there’s no problem we can’t solve - no destiny we cannot fulfill.

I’m deeply inspired by Barack Obama, who has proven that its possible to achieve the seemingly impossible through perseverance and hard work. Yes we can! was his message after he won the presidential elections.

Particularly the following excerpt, is extremely relevant for us wannabe entrepreneurs:

“For when we have faced down impossible
odds; when we’ve been told that we’re not ready, or that we shouldn’t
try, or that we can’t, Yes We Can! ”

Its vital that we develop the courage to challenge the status-quo! Prepare ourselves to swim against the tide if we have to and not let ourselves be discouraged by obstacles in our path.

Heres what i gather from scouting around on the web:

- Passion

- Ability and Willingness to Take Risk

- Clear Goals and Sense of Direction

- Good at Delegation

- Optimism

- Expertise

- Ability to Motivate and Lead

- Good Network and Great Mentors

- Good communication skills

Sounds like a tall order! Its easy to get intimidated by this, and can almost make you wonder if this is the right path for u.

Do entrepreneurs need to be super heroes? Can some of these skills/traits be acquired? I’m sure many entrepreneurs faced similar challenges when starting out..Makes me wonder what others in similar positions did  when they took the plunge..