Things you need or need to know:
- Passion "Find an occupation that you love and you will never work a day in your life" - Confucius
- Optimism Best CEOs are very optimist
- Small companies win They are very productive than big companies Jeff Bezos has 2 Pizza Rule
Chapter 1:
T.A.M (Total Addressable Market) :
Investment managers love investing in companies with a very large T.A.M., in fact many venture capital investors won't invest in a start-up unless the T.A.M. is over $20 billion as more than 50% of companies fail within a few years of being founded. As a result, we always want the ones that do succeed to have an opportunity to be a billion dollar company (in terms of annual revenue). If a company gets 5% marketshare of a $20bn market, then this equals $1bn in revenue. If you can't find the T.A.M., then add up the annual revenue for the top 25 companies in a given sector for an estimate.
So, make sure if you hit, you hit it big
Case study 1:
In the mid 70's this was published
And some people started to believe that each desk will have a computer of their own.
They were these people:
One of them were Bill Gates 😉
Case study 2:
Salesforce company's CEO Believed everything is going to be in cloud and built this company.
Good entrepreneurs are Great Salespersons. Example : Jeff bezos, Elon Mask, Bill Gates.
O.P.M => You are always raising money but other people except family and close ones. Don't keep them in trouble.
** Raising money - Type of companies**
- Proprietorship
- General Partnership (GP)
- Limited Partnership (LP)
- Corporate
Ways to protect your Intellectual Property (IP)
Ways to save your I.P:
NDA, Agreements etc.
Trademark
What's different between TM & R?
R (Registered trademark) means registered for all states of the country but TM is for only a few selected states.
- Copyright
So, in summary
example:
Networking
How to do it?
Firstly set up your LinkedIn and search for people who do learn what you are learning or search for people whom you know.
In mail them and ask them for a cofee.
For example, finding people from McGill University, you can follow this process to find and message someone for connection.
Note: You always need to mention some common element that matches between both of you in the mail. For example. you both are CNCF Ambassadors etc.
- Keep it short . You will be amazed how people want to help you. For example, check how steve jobs asked for a job and he got it. He was a boy then buy what prevent most people is, they don't have the guts to ask properly showing some previous work or fieldwork.
So, the best entrepreneur have these:
Lastly, we end with a quote
"Ideas are commodities but execution is not" - Michael Dell
Meaning, Many entrepreneurs have great ideas but not that many can execute.
Finally, if you someday want to know how tax works in USA, you can check this example:
Summary
Some resources:
Nobody is smarter than you (I love this video): https://youtu.be/POKSiisnY1o
Ask and you shall receive; networking is crucial in business as relationships are more important than product knowledge: https://youtu.be/zkTf0LmDqKI
Ethics:
- Disclosing all material risks to potential investors is the ethical thing to do as transparency builds trust.
Example #1: Salesforce.com discloses all outages and security issues in real time on this web site: www.tiny.cc/chris10
Example #2: Google is also incredibly transparent. Google even discloses all Google self-driving car incidents online at this site: https://waymo.com/safety/
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