10-7-08 - Entrepreneurship I Class Notes 10/7/08 MATT GRANT...

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Entrepreneurship I – Class Notes – 10/7/08 MATT GRANT – RACERS RESOURCE TYRADYNE His wife is an attorney Elements of entrepreneurship that has to be taken care of – everyone has to be on board – 60-70 hours per week o You have to have support at home o Margaret had to make a sacrifice – He has passion for the venture Time sacrifice RISK - Sacrifice his salary and their personal savings (college savings) He got interested in running because he wanted to lose weight He has the passion for the venture! o One of the characteristics of being an entrepreneur WHAT DI MATT REALIZE ABOUT ROAD RACES It’s hard to find out about races (10k marathon) o Mail o Word of mouth What gave him the idea for the venture? They had something California – RACE PLACE! Addressable market? o There is a large addressable market o However, there is a monetization problem! WHAT WAS MATT DOING IN CALIFORNIA? One of his bosses told him to help Teradyne – “Because testing matters” o They make systems that test electronic circuit boards to make sure they work properly o Bed of nails testing They also make machines to test microchips
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What did they do that created this opportunity? They acquired a company Where did Matt get transferred form – Baskan, NH Working Boston, MA transferred to California Why did he take advantage of the opportunity? o He got a promotion o What was he doing at Teradyne – he was a purchasing guy Matt is a risk taker! He is passion about what he is interested in He is a risk taker Is going to tell his wife to take the bar exam in California “because we’re moving!” WHAT DID HE LIKE AND DISLLIKE ABOUT HIS JOB AT TERADYNE? LIKE What did he get from a work standpoint that he had in Santiago o He was a manager, he was the boss o P and L responsibility – PROFIT and LOSS responsibility – he was running the business! Dealing with the customers
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This note was uploaded on 06/03/2009 for the course ECON 290 taught by Professor Goldenandallison during the Fall '08 term at Allegheny.

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10-7-08 - Entrepreneurship I Class Notes 10/7/08 MATT GRANT...

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