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  • Entrepreneurship is risk free: Heads I win, tails I don’t lose much +Apps?

    Posted on March 2nd, 2010 admin 39 comments

    My friend and colleague Nwokedi who addressed both my ENTR200 classes earlier this semester suggested the following as a must read. I agree, and here is the link.

    So while you’re thinking about this, what killer apps would you like to see and might even pay a little bit for in the smartphone arena? An example using augmented reality is embedded below. The Android market is doing OK too. See here for an example. Here’s some interesting info about Stanford iPhone users:

    “…a survey of about 200 iPhone-owning Stanford undergrads, nearly three-quarters said the phone made them happier, but almost a third worried they may be using it too much and feared becoming “one of those iPhone people.” From SiliconValley.com 3/1/10. Hank

     

    39 responses to “Entrepreneurship is risk free: Heads I win, tails I don’t lose much +Apps?”

    1. My comment is related to the must read article. It really was a must read, I had never thought about entrepreneurship as being risk free, but the argument was very logical and was something I had never thought about.

    2. Lauren Cassidy

      This is a really interesting insight into entreprenuership. I think its eye opening to think of how many opportunities could be open to an entrepreneur if his business fails. I have never thought of it like this, until this article.

    3. “If you choose to become an entrepreneur for the right reasons, have the right approach and are determined to give it your best shot for 2-3 years and create value in your venture, chances of failure are near zero. You will learn so much and get to know so many people that even in case of the worst outcome, you will come out way ahead and will be a much wanted resource.h” A good way to think about entrepreneurship !!!!

    4. Austin collins

      I read the must readarticle and I agree that with all the time spent on your idea will make you a more experienced person. You learn a lot when you have to actually run something and that experience is what businesses look for when hiring. So even though your idea might fail you will sti have gained knowledge about business.

    5. The demo is pretty cool. It makes me want to know how they are identifying the objects in the camera, if it is some kind of object recognition or if they just use GPS for everything. I want to run this on my own phone for the fun, but it looks a little cumbersome to actually pull out and use.

    6. Zachary Mirsberger

      As if starting your own company wasn’t appealing enough, the outlook of the must read article makes it sound like the best way to go to jumpstart a career.

    7. That really is an excellent must read article. It gave me some confidence and optimism when it comes to the percent of failure when starting your own business. There really is no failure at all if you put in the necessary time and effort.

    8. This article makes a good point that is often times over looked when considering a switch to entrepreneurial employment; the knowledge gained. Regardless of the company profitability 5 years down the road, starting the company is a valuable experience in and of itself.

    9. I am not surprised that many people are addicted to their iphones. Just as many people are also addicted to their blackberry’s and PDA’s. Creating new applications is a great entrepreneur opportunity to make money. I know the Android is a new phone that is creating an application market, but I also know many people with the Blackberry storm that love it but hate the selection of applications they have. Even though they have applications they don’t have the fun and new applications that the iphone has. The selection is much more business oriented and narrower.

    10. Anthony Sikorski

      That article almost makes you think even if you company doesn’t make it you still will. Either it succeeds or it fails, but either way you end up with more knowledge, experience, and background of your type of business. It seems like another to support on why it is wise to try and create something new.

    11. Very inspiring article, not what I expected when i started reading it. It’s good to know that if you start a buiseness and it fails you still have opportunities.

    12. Shawn Gearhart

      This is a pretty cool little gadget. It really opened my mind to think about what else have we not come up with. The possibilities are out there for us to find.

    13. I really liked that post about risk and entrepreneurs it has a really optomistic outlook on things. And the application for the droid was probably one of the cooler apps out there. It seems like it does almost everything, and might be worth investing in at some point

    14. that demo was sweet. There must have been a GPS recognition to be able to map all of that out because there is no way that a camera on a phone could do anything like it. I wouldn’t really pay for an app like that now especially if it were expensive but if it were reasonable when i get a real job i might consider it just because i do see it potentially making life a lot easier and would definitely could save you time by never getting lost again. As far as other apps that I would pay for, i ight consider things like home security cameras or being able to control a smart home from a smart phone, an app that could by the press of a button record what you say and put it into a todo list and calendar.

    15. Frank Hettlinger

      The level of success the business achieves is based solely on the entrepreneur starting it. If the idea ends up not going very far, at least contacts were made with other people in business so that you can find another job or maybe improve on your last idea to try again. It seems to me like there’s a world of opportunity out there that if people would just try, good things will happen. Most people are just afraid to make that initial step and put themselves out there. That’s where entrepreneurs step in and try new things. As long as you’re motivated and believe in yourself, only good things can come of it. Loved the article, it was a good one.

    16. Colby Beacham

      I have to agree with the majority of the commenters, I never thought of entrepreneurship as being risk free. It also was a win or lose situation for me, but the article makes a good point on how even if you do fail you open your self up to new opportunities that give you a better stance at finding a suitable career.

    17. Keegan Klauke

      good advice from the article, and holy cow pie is that application a travelers dream! once that releases for the iphone, damn I will be too happy. if all my money didn’t already go to traveling enough, here comes this thing which will rasterbate the situation.

    18. The article brought new insight to my Entrepreneurial mind. The line talking about how it not totally about the company you are starting, but about the journey really opens up new light.

    19. I agree with alot of people, even though you can “lose your business” you dont particularly lose because you learn from your mistakes and your experiences and maybe the next try your business and you will succeed.

    20. Jaideep Singh

      Gonna read the article in a while… anyways I do have Layar on my android phone. But since I don’t have a data plan, I just can’t go anywhere :)

    21. I can tell why this is a must read article. It is good to know that no matter how good you think your company might be, it might fail, and there are always things to fall back on.

    22. The app showed in the video is really cool. I can definitely see how that could be a lot more helpful than doing it the traditional way. Entrepreneurship is one of those things that I think just about everyone is capable of in one way or another as long as they are passionate about what they are doing.

    23. I do notice that most people that have iPhones, my roommate included, use their iPhone a lot. Even when they are not calling or texting they are usually playing games on it when they are bored. The app showed in the video is really cool! That would be an awesome app to have and I would definitely get it, because I think it would be very helpful to people and it would just be a neat app to have! I agree with Andrew, anyone can be an entrepreneur as long as they are willing to work hard and are passionate about what they are trying to do.

    24. Around me is an iPhone is app that currently has augmented reality. When I used it for the first time I went crazy excited. This android app looks like it implemented the technology in a more usable way though.

    25. This is a very insightful look at entrepreneurship. It sheds a lot of light on starting your own venture, and in the long run, ending up just as stable with job security even if your business fails. This may be true regarding software engineering, but it is not that simple in other professions. Kudos to the technological savvy entrepreneurs that can take advantage of this opportunity.

    26. Molly Longest

      I found the article very interesting and encouraging. I think some of the best advice given in it was, “You will learn so much and get to know so many people that even in case of the worst outcome, you will come out way ahead and will be a much wanted resource.” I think this is very truthful. Even if you fail at your venture, you’ll only come out stronger and you’ll probably have made many more connections and ties with other successful entrepreneurs that can help you on new ventures. It’s a win win situation.

    27. I like reading that must-read article, especially the last paragraph. I never thought about all the connections that one could find when becoming an entrepreneur. So even if a business does fail, one still comes out on top because of all the people that you meet.

    28. Casey Piquette

      I think that article was great. Especially at a young age, this is the best time for us to be entrepreneurs. Most of us are not married, we don’t have mortgages or ties to certain areas. This is the best time to fail. I especially liked the part about intense learning for 2-3 years and jumping straight to CEO. That is truly the best way to learn. If you have to figure things out yourself, you will learn details that some people who have been in the profession as a lower level worker for several year don’t even know.

      I will pass this article around to my friends. If you have a solid plan and are willing to work hard, I think taking an entrepreneurial risk is a great idea!

    29. Aditya Chaudhari

      This article was a self confidence booster simply because of the fact that there are many opportunities out there to be successful, all you have to do is take action.

    30. After reading the article, someone will be encouraged to become an entrepreneur. I am among them too. However, I do not agree that entrepreneur will be risk free because there are other factors to be considered. One big factor is networking. People’s networking is quite important in work environment. If your business is not fit to the job you want to apply. It could become a weakness of you compared with candidates who have been in such environment for a while.Ways of doing work may be quite different. To be leader and to be a employor would be quite different. I agree that there are a bunch of benefits entrepreneurs could get from their experiences. But I still think risks are existed.

    31. This is imperative information for entrepreneurs because it shows there are many available doors for opportunity. CHOOSE ONE

    32. Harsh Sanghvi

      Its a very good article it says how a little bit of risk can earn you big gains.
      The article is very encouraging for a student.

    33. Soroosh Karamyar

      HEADS!!! but tails is not that bad either. nice post.

    34. Wow! after watching the video, I would love an app like this! I think there could be huge potential especially for trying to find buildings and specific addresses. Though one needs to be careful on not looking like a “creeper.”

    35. Blake Bronowicki

      I know Apple would continue to deliver very good products that are going to last a long time and are very dependable at the same time. I have owned an iTouch since they came out and have never thought different of purchasing any other different MP3 Player. When it comes to the Android, they are built using Google Technology which is up and coming and an application like this would be awesome to have.

    36. Courtney M. Cronk

      any app on a phone that we as customers would find useful would make money. as a whole, i think we are lazy. and apps such as these and those on the iphone make our lives ‘easier’ aka allows to be lazier. great money-making opportunities. how bout an app for car buying? and all include how to avoid the scams and base prices, and free credit scores :)

    37. The apps, that are continually growing will always be useful and continue to make our lives easier.

      But, we should be careful at the price at which we use our apps, because at some point we do not want to become so depend on our iphones that we cannot function without them.

    38. Letteer Lewis

      I’m glad this was posted, hopefully to get more people into the idea of application development, even if they don’t have a programming background, they could still have some goo ideas.

    39. This is a good post. I know friends who use thier I-phones all the time! They are addicting and can take up alot of time playing free apps! I think that a phone should stick to its purpose of phone calls. It is great having information at your fingertips but it can come with a great amount of time consumption!

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