The Technology Entrepreneur’s Guidebook Reading 1:

Entrepreneurship is a way of life. It can be rewarding and lucrative. The guidebook points out why it is not easy, and even further why so few are ever heard of, consider the following:

- Only 1 in 6,000,000 high-technology business ideas wind-up in an IPO;

- Less than one percent of business plans received by venture capitalists get

  funded;

- Founder CEOs typically own less than 4 percent of their high tech companies

  after an IPO;

- 60 percent of high tech companies that are funded by VCs go bankrupt;

- Most high tech companies that succeed in having an IPO take between three and

  five years to get there. (From the Guidebook page 2)

          To some this might sound discouraging but to others the thought of even 1 percent getting funding is good news. This is good news to the entrepreneur, since this type of person is not in it to get wealthy, although this may happen it is more a way of life. This is evident in the objectives of the entrepreneur:

- A technology entrepreneur generally seeks to solve a problem that exists in the

  market.

- A second objective of the technology entrepreneur is to build long-term value.

- A third objective of the entrepreneur is to have freedom.

(From the Guidebook page 3)

           Being on the cutting edge is not just following some one it is being there and seeking to solve a problem that they have encountered. They are not in it for the short term wealth get rich quick, they are in it to create long term value. Finally, freedom if you want to travel and set your own hours then this may be the path for you, but do not think that freedom goes hand in hand with lazy-ness.

            Along with these objectives entrepreneur’s have certain characteristics that are present and driving them. They have passion, they live and breathe their business. They are focused on the next move, they are leaders, they are visionaries, the have courage and do not get side tracked. The last sentence provides a great summary: “In the end, entrepreneurs can best be described as ocean waves, existing only so long as they move forward.” (From the Guidebook page 5)When they stop moving forward they are forgotten.