Comments on: Creating a new generation of technology entrepreneurs Part 2: Consumption vs. Creation http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/ The premier destination for African-American’s in Technology and New Media Wed, 17 Mar 2010 04:22:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Creating a new generation of technology entrepreneurs Part 3: Get ready to bring your “A” game and turn your haters into your motivators « Black Web 2.0 http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-33059 Creating a new generation of technology entrepreneurs Part 3: Get ready to bring your “A” game and turn your haters into your motivators « Black Web 2.0 Fri, 18 Dec 2009 18:57:01 +0000 http://www.blackweb20.com/?p=9684#comment-33059 [...] series  “Creating the next generation of entrepreneurs.” You can read  part 1 and part 2 here as well. First let me say thank you for all the feedback on my earlier posts. I don’t [...] [...] series  “Creating the next generation of entrepreneurs.” You can read  part 1 and part 2 here as well. First let me say thank you for all the feedback on my earlier posts. I don’t [...]

]]> By: Wm_Tucker http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-33949 Wm_Tucker Sat, 05 Dec 2009 22:25:24 +0000 http://www.blackweb20.com/?p=9684#comment-33949 No, bruh… this isn’t about you; this isn’t personal. I’m not ‘calling you out’. We’re not debating as much as we’re discussing how best to get from point ‘A’ to point ‘B’, so to speak. I’d like to believe we both want to see more Af-Ams become tech entrepreneurs -- which I interpreted from your first post to be a person who either starts or presides over a company involved with technology, e.g.; manufacturing or scientific research. As I wrote in my last entry, bloggers and e-tailers don’t really fit this description. While I also believe you’ve conflated technical knowledge with the skills necessary to start/run such an enterprise, I understand and agree with the larger goal of expanding the numbers of Af-Am leaders of software & hardware manufacturers, ‘green’ energy manufacturers, biotech R&D firms, etc..<br><br>With that said, any discussion on Af-Am headed firms producing smartphone apps, netbooks, biofuels, etc., has to be centered on how the economy writ large works in that practical methodologies for its navigation can be created. Originally, you characterized capital and credit as non-issues for starting a business today. Nothing could be further from the truth. In actuality, poor access to capital and credit not only remains the #1 obstacle facing aspiring entrepreneurs, it’s the #1 reason why >75% of all businesses fail inside of 3 years -- facts that can be corroborated by any reliable source on business or economics.<br><br>You now write of ‘bootstrapping’ -- using one’s own resources to start/run a business -- as if it doesn’t require one to have boots up front in order to bootstrap. I’m sure you know most Americans, particularly Af-Ams, typically lack the individual wherewithal to start an enterprise of the type you allude to in your essay. For example, a smartphone app can cost $10k - $150k to develop. Presuming our hypothetical tech entrepreneur decides to finance his project with a SBA loan, they’re can realistically expect the lender to require $2K - $30K in cash or equity before approving the loan. Contrary to your opinion, bootstrapping is the avenue of last resort. And while it’s noble (in concept), it’s an inefficient use of the entrepreneur’s resources. That’s a lesson taught in both Business 101 and the School of Hard Knocks. No, bruh… this isn’t about you; this isn’t personal. I’m not ‘calling you out’. We’re not debating as much as we’re discussing how best to get from point ‘A’ to point ‘B’, so to speak. I’d like to believe we both want to see more Af-Ams become tech entrepreneurs — which I interpreted from your first post to be a person who either starts or presides over a company involved with technology, e.g.; manufacturing or scientific research. As I wrote in my last entry, bloggers and e-tailers don’t really fit this description. While I also believe you’ve conflated technical knowledge with the skills necessary to start/run such an enterprise, I understand and agree with the larger goal of expanding the numbers of Af-Am leaders of software & hardware manufacturers, ‘green’ energy manufacturers, biotech R&D firms, etc..

With that said, any discussion on Af-Am headed firms producing smartphone apps, netbooks, biofuels, etc., has to be centered on how the economy writ large works in that practical methodologies for its navigation can be created. Originally, you characterized capital and credit as non-issues for starting a business today. Nothing could be further from the truth. In actuality, poor access to capital and credit not only remains the #1 obstacle facing aspiring entrepreneurs, it’s the #1 reason why >75% of all businesses fail inside of 3 years — facts that can be corroborated by any reliable source on business or economics.

You now write of ‘bootstrapping’ — using one’s own resources to start/run a business — as if it doesn’t require one to have boots up front in order to bootstrap. I’m sure you know most Americans, particularly Af-Ams, typically lack the individual wherewithal to start an enterprise of the type you allude to in your essay. For example, a smartphone app can cost $10k – $150k to develop. Presuming our hypothetical tech entrepreneur decides to finance his project with a SBA loan, they’re can realistically expect the lender to require $2K – $30K in cash or equity before approving the loan. Contrary to your opinion, bootstrapping is the avenue of last resort. And while it’s noble (in concept), it’s an inefficient use of the entrepreneur’s resources. That’s a lesson taught in both Business 101 and the School of Hard Knocks.

]]> By: Wm_Tucker http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32848 Wm_Tucker Sat, 05 Dec 2009 16:25:24 +0000 http://www.blackweb20.com/?p=9684#comment-32848 No, bruh… this isn’t about you; this isn’t personal. I’m not ‘calling you out’. We’re not debating as much as we’re discussing how best to get from point ‘A’ to point ‘B’, so to speak. I’d like to believe we both want to see more Af-Ams become tech entrepreneurs -- which I interpreted from your first post to be a person who either starts or presides over a company involved with technology, e.g.; manufacturing or scientific research. As I wrote in my last entry, bloggers and e-tailers don’t really fit this description. While I also believe you’ve conflated technical knowledge with the skills necessary to start/run such an enterprise, I understand and agree with the larger goal of expanding the numbers of Af-Am leaders of software & hardware manufacturers, ‘green’ energy manufacturers, biotech R&D firms, etc..<br><br>With that said, any discussion on Af-Am headed firms producing smartphone apps, netbooks, biofuels, etc., has to be centered on how the economy writ large works in that practical methodologies for its navigation can be created. Originally, you characterized capital and credit as non-issues for starting a business today. Nothing could be further from the truth. In actuality, poor access to capital and credit not only remains the #1 obstacle facing aspiring entrepreneurs, it’s the #1 reason why >75% of all businesses fail inside of 3 years -- facts that can be corroborated by any reliable source on business or economics.<br><br>You now write of ‘bootstrapping’ -- using one’s own resources to start/run a business -- as if it doesn’t require one to have boots up front in order to bootstrap. I’m sure you know most Americans, particularly Af-Ams, typically lack the individual wherewithal to start an enterprise of the type you allude to in your essay. For example, a smartphone app can cost $10k - $150k to develop. Presuming our hypothetical tech entrepreneur decides to finance his project with a SBA loan, they’re can realistically expect the lender to require $2K - $30K in cash or equity before approving the loan. Contrary to your opinion, bootstrapping is the avenue of last resort. And while it’s noble (in concept), it’s an inefficient use of the entrepreneur’s resources. That’s a lesson taught in both Business 101 and the School of Hard Knocks. No, bruh… this isn’t about you; this isn’t personal. I’m not ‘calling you out’. We’re not debating as much as we’re discussing how best to get from point ‘A’ to point ‘B’, so to speak. I’d like to believe we both want to see more Af-Ams become tech entrepreneurs — which I interpreted from your first post to be a person who either starts or presides over a company involved with technology, e.g.; manufacturing or scientific research. As I wrote in my last entry, bloggers and e-tailers don’t really fit this description. While I also believe you’ve conflated technical knowledge with the skills necessary to start/run such an enterprise, I understand and agree with the larger goal of expanding the numbers of Af-Am leaders of software & hardware manufacturers, ‘green’ energy manufacturers, biotech R&D firms, etc..

With that said, any discussion on Af-Am headed firms producing smartphone apps, netbooks, biofuels, etc., has to be centered on how the economy writ large works in that practical methodologies for its navigation can be created. Originally, you characterized capital and credit as non-issues for starting a business today. Nothing could be further from the truth. In actuality, poor access to capital and credit not only remains the #1 obstacle facing aspiring entrepreneurs, it’s the #1 reason why >75% of all businesses fail inside of 3 years — facts that can be corroborated by any reliable source on business or economics.

You now write of ‘bootstrapping’ — using one’s own resources to start/run a business — as if it doesn’t require one to have boots up front in order to bootstrap. I’m sure you know most Americans, particularly Af-Ams, typically lack the individual wherewithal to start an enterprise of the type you allude to in your essay. For example, a smartphone app can cost $10k – $150k to develop. Presuming our hypothetical tech entrepreneur decides to finance his project with a SBA loan, they’re can realistically expect the lender to require $2K – $30K in cash or equity before approving the loan. Contrary to your opinion, bootstrapping is the avenue of last resort. And while it’s noble (in concept), it’s an inefficient use of the entrepreneur’s resources. That’s a lesson taught in both Business 101 and the School of Hard Knocks.

]]> By: navarrowwright http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32824 navarrowwright Tue, 01 Dec 2009 04:45:17 +0000 http://www.blackweb20.com/?p=9684#comment-32824 Ok Wm_tucker<br>It's obvious that you just want to debate me, which is all good. First, All my posts in regards to being an entrepreneur are focused on creating web or technology based business ( mostly web) so I'm not sure what you meant by your first point. My whole point for writing these posts is to encourage people to try their hand at being entrepreneur and to understand that the barriers are lower than they may think. The kind of "man it's just not realistic for us" mindset your showing is one of the reasons why we don't have more African American technology entrepreneurs today. There are numerous businesses out here today that have been created and are thriving by using the "bootstrapping" principle of taking no or limited outside funds. There are numerous scenarios in a companies life cycle where accessing outside capitol makes sense. The point of these posts is to point out that lacking capitol in the beginning is not a game ending obstacle. IF you are going to preach that getting capitol is the end all to be then you need to explain all sides of that path. For example let people know that the earlier in the process you take outside funding, more than likely you are giving away a larger piece of their company and in some cases company control to do so. Explain company valuation and everything that goes into it. If you have raised money from the venture community and gone through that process then should know those insights are key.Otherwise your just giving misdirection and i think there is enough of that in out culture today. My goal in stating my "Challenge" was to allow the readers to see examples through our dialogue that could illustrate a possible direction to them. But instead of that you issue a challenge to me in efforts to i guess " call me out" that's just silly and unproductive but again I'll bite. I'm in the process of creating two separate ventures by bootstrapping 1) because i wanted to illustrate the process through future posts 2)Because i believe the ideas have some legs. I've also raise significant funds from some of top firms in the country but honestly it's not really about what I've done. It's about me wanting more Black people to do and do it better to me. I know there are people out there who can if they are encouraged to take the first step. Ok Wm_tucker
It's obvious that you just want to debate me, which is all good. First, All my posts in regards to being an entrepreneur are focused on creating web or technology based business ( mostly web) so I'm not sure what you meant by your first point. My whole point for writing these posts is to encourage people to try their hand at being entrepreneur and to understand that the barriers are lower than they may think. The kind of “man it's just not realistic for us” mindset your showing is one of the reasons why we don't have more African American technology entrepreneurs today. There are numerous businesses out here today that have been created and are thriving by using the “bootstrapping” principle of taking no or limited outside funds. There are numerous scenarios in a companies life cycle where accessing outside capitol makes sense. The point of these posts is to point out that lacking capitol in the beginning is not a game ending obstacle. IF you are going to preach that getting capitol is the end all to be then you need to explain all sides of that path. For example let people know that the earlier in the process you take outside funding, more than likely you are giving away a larger piece of their company and in some cases company control to do so. Explain company valuation and everything that goes into it. If you have raised money from the venture community and gone through that process then should know those insights are key.Otherwise your just giving misdirection and i think there is enough of that in out culture today. My goal in stating my “Challenge” was to allow the readers to see examples through our dialogue that could illustrate a possible direction to them. But instead of that you issue a challenge to me in efforts to i guess ” call me out” that's just silly and unproductive but again I'll bite. I'm in the process of creating two separate ventures by bootstrapping 1) because i wanted to illustrate the process through future posts 2)Because i believe the ideas have some legs. I've also raise significant funds from some of top firms in the country but honestly it's not really about what I've done. It's about me wanting more Black people to do and do it better to me. I know there are people out there who can if they are encouraged to take the first step.

]]> By: Wm_Tucker http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32784 Wm_Tucker Sun, 29 Nov 2009 21:15:29 +0000 http://www.blackweb20.com/?p=9684#comment-32784 With all due respect Navarro, laying out a plan is easy. Raising capital for implementing that plan is something else altogether. And while accessing capital is easier today than it's ever been -- thanks in part to technology -- it's still a formidable challenge for entrepreneurs in general, and Af-Am entrepreneurs in particular. When I wrote earlier of cash & credit remaining a "barrier to entry" for aspiring businesspersons, I didn't mean to suggest they're insurmountable or impenetrable.<br><br>My point being it's irresponsible for anyone to suggest to persons aspiring to start a business that access to capital & credit is a fait accompli once armed with a well-written marketing plan and (supposedly) viable product/service. There is a conspicuous lack of interest amongst Af-Ams for angel financing and capital formation of the type required by Af-Am tech entrepreneurs which IMO, explains in part why we're not seeing many tech start-ups (excluding 'consulting firms'') launched by said group. With all due respect Navarro, laying out a plan is easy. Raising capital for implementing that plan is something else altogether. And while accessing capital is easier today than it's ever been — thanks in part to technology — it's still a formidable challenge for entrepreneurs in general, and Af-Am entrepreneurs in particular. When I wrote earlier of cash & credit remaining a “barrier to entry” for aspiring businesspersons, I didn't mean to suggest they're insurmountable or impenetrable.

My point being it's irresponsible for anyone to suggest to persons aspiring to start a business that access to capital & credit is a fait accompli once armed with a well-written marketing plan and (supposedly) viable product/service. There is a conspicuous lack of interest amongst Af-Ams for angel financing and capital formation of the type required by Af-Am tech entrepreneurs which IMO, explains in part why we're not seeing many tech start-ups (excluding 'consulting firms'') launched by said group.

]]> By: navarrowwright http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32783 navarrowwright Sun, 29 Nov 2009 19:33:23 +0000 http://www.blackweb20.com/?p=9684#comment-32783 Wm_tucker<br>I agree that you can entrepreneurial skill sets that are not necessarily technical and I would also say that African Americans have a lot of those skills even if they are not applied in the right way. What i have to disagree with is the money and access to capitol is a barrier. Give me any situation and I can lay out a plan as to how that person can start their technology business and put it in a position to scale as long as a) it's a good product to begin with B) they are willing to flexible in their approach. Both may seem simple but present challenges to some people.<br>Thanks Wm_tucker
I agree that you can entrepreneurial skill sets that are not necessarily technical and I would also say that African Americans have a lot of those skills even if they are not applied in the right way. What i have to disagree with is the money and access to capitol is a barrier. Give me any situation and I can lay out a plan as to how that person can start their technology business and put it in a position to scale as long as a) it's a good product to begin with B) they are willing to flexible in their approach. Both may seem simple but present challenges to some people.
Thanks

]]> By: navarrowwright http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32782 navarrowwright Sun, 29 Nov 2009 19:28:09 +0000 http://www.blackweb20.com/?p=9684#comment-32782 Facebook developer<br>yeah thats true but Computer books are spun out as fast as they change . Some companies like the pragmatic bookshelf ( which i swear by their books) offers pdf versions of their books and even beta versions as they write them. (<a href="http://pragprog.com/" rel="nofollow">http://pragprog.com/</a>) So classes can be and stay current. Facebook developer
yeah thats true but Computer books are spun out as fast as they change . Some companies like the pragmatic bookshelf ( which i swear by their books) offers pdf versions of their books and even beta versions as they write them. (http://pragprog.com/) So classes can be and stay current.

]]> By: Facebook User http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32778 Facebook User Sat, 28 Nov 2009 20:26:45 +0000 http://www.blackweb20.com/?p=9684#comment-32778 Thanks Herb<br>I also believe we have to widen or net in terms of the business ideas we focus on. We can be minority entrepreneurs but have global expectations. Thanks Herb
I also believe we have to widen or net in terms of the business ideas we focus on. We can be minority entrepreneurs but have global expectations.

]]> By: Facebook User http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32779 Facebook User Sat, 28 Nov 2009 20:24:27 +0000 http://www.blackweb20.com/?p=9684#comment-32779 Hey Ron<br>I just don't agree. While i understand there are some obstacles other people are doing it everyday. Even with the education system the way it is there are still young people who show great promise and the barrier to entry is lower today than it's ever been. it's just not on the radar of enough people. Hey Ron
I just don't agree. While i understand there are some obstacles other people are doing it everyday. Even with the education system the way it is there are still young people who show great promise and the barrier to entry is lower today than it's ever been. it's just not on the radar of enough people.

]]> By: Facebook Developer http://www.blackweb20.com/2009/11/24/creating-a-new-generation-of-technology-entrepreneurs-part-2-consumption-vs-creation/comment-page-1/#comment-32763 Facebook Developer Thu, 26 Nov 2009 09:33:51 +0000 http://www.blackweb20.com/?p=9684#comment-32763 Hey this technology is evolving so fast as we speak before the book and coarse could be implemented half of the information would be obsolete. Hey this technology is evolving so fast as we speak before the book and coarse could be implemented half of the information would be obsolete.

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