Start Up

On Thursday, February 28, we watched a movie called Start up. It explains a story of a group of entrepreneurs that are trying to start up their business. Their business is called govWorks.com. They went to San Francisco to speak with a potential investor and he said that he didn't like their idea and said it wasn't going to be successful on the west coast. On to the next investor, they try to sale their business and explain more about what they do. But that investor, Tom, just wasn't understanding what they were trying to do. You can see the frustration with our entrepreneurs and they are trying to figure out how to clarify their business plan. Their next destination was New York. There, They were able to get Manor Jackson, Mayor of Atlanta, GA, to be on their board of directors. I believe it was a great idea to have him and influenced more people to understand what their mission statement is. They traveled to Boston for their next meeting to finalize their business. They are working with Isaac. It seems like they are looking for a V.C. I believe they close the deal, but it seems like they weren't too excited about the evaluation and are afraid that the investors are diluting their business.

They travel around the nation and talk to other investors to promote their business and get more money. They have many failed attempts in persuading investors and you can tell that they are running low on resources. I can see the fustration and you can tell it is really hard to stay positive and move forward.

They appeared on TV and talked about govWorks.com. They have received over 20 million and are now becoming a successful business. With all the hard work they have put into their business. They are finally reaping the benefits.

After their success, a few company start to emerge and copy their ideas. Their strongest competitor is ezGov.com. It does the exact same thing that govWorks.com does.

Their website is not fully complete and is not functioning the way they wanted it to be. They already burned through 50 million. With more time, they were able to finally release their website to the market and it was a great success.

From my point of view.

I find it really hard to start up a business in todays world. Technology has come such a long way that it is really hard to find a problem and find a solution that doesn't cost a fortune. I like how the idea of govWorks.com was to find a solution to pay ticket fees online. At the time that was a genius idea. No one has utilize the internet like that during that period. But there are so much risks involved with starting this business. I can see the frustration and I can imagine all the stress each and every one of them endured for them to finally make it to the top. It takes a lot of admiration and motivation to really push forward.

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