Trying to find answers on many questions that arising in my head after each class I looked on the list of recommended readings for TINST 475 syllabus. The title of the first book on the list was "The Complete Handbook for Creating Successful New High Tech Companies" sounded appropriate. I checked the UW library web site and discovered that book is available at Tacoma campus, and remaining books from the additional readings list are available as well. I borrowed that book and looked on the publication date - 1997 - seems outdated, but... I read the first 4 chapters on one breath. I would like to distinguish the chapter 2.
John L. Nesheim, in chapter 2 “The process of Forming the Company” describes in great details the whole picture of a company’s lifecycle by classifying each cycle into 14 stages starting from business idea and finishing with Initial Public Offering (IPO). Each stage has been analyzed from following points:
- Main Focus activity
- Time required to complete each stage
- Typical participants
- Help needed
- Major cost – time or money
- Main risks
- Results: ROI (Return on Investment) and Output.
One of the stages is ‘Pullout from Employer’. The author describes two possible ways to quit your current full time job before writing a business plan or continue earning wages until last possible minute. The goal of this stage for all founders is to “achieve a clean pullout” which means without lawsuits from their former employers. The help of legal consulting might be helpful to achieve this result. The author gives describes potential difficulties and gives useful advices on each stage.
I would recommend this book for students in TINST 475 who is seriously thinking about own business.
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