entrepreneurshibios.docx - UNIVERSITY OF NAIROBI COLLEGE OF ARCHITECTURE AND ENGINEERING SCHOOL OF THE BUILT ENVIRONMENT DEPARTMENT OF REAL ESTATE AND

entrepreneurshibios.docx - UNIVERSITY OF NAIROBI COLLEGE OF...

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UNIVERSITY OF NAIROBI COLLEGE OF ARCHITECTURE AND ENGINEERING SCHOOL OF THE BUILT ENVIRONMENT DEPARTMENT OF REAL ESTATE AND CONSTRUCTION MANAGEMENT NAME : MIDAMBA CHARLES GEORGE REG. NO : B66/1065/2017 COURSE UNIT : MANAGEMENT II LECTURER : DR. REGINA KITIABI COURSE CODE : BQS 201 Question Write a report on the following individuals with a specific focus on their entrepreneurial achievements; Richie Stachowski, Abbey Fleck, Ben Cathers, Joshua Moore Submission Date: 18 th October, 2018 RICHIE STACHOWSKI
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Richie Stachowski, at the age of 11 in the year 1995 invented the Water Talkie, a device which made talking underwater possible. When he was 11, Richie's family went on vacation to Hawaii. Richie was out snorkeling with his father, and was so thrilled by the numbers and colors of the fish he kept seeing that he wanted to be able to shout out to his dad each time he saw something new. Afterward, when Richie's father, a registered diver, confirmed that no one had invented a simple way to talk underwater, Richie set about becoming that inventor. Richie began sketching designs that very evening in the family's hotel room. After returning home, Richie used the Internet to research underwater acoustics. Then he began building prototypes of an underwater megaphone, using the $267 he had in his savings account. First, Richie mounted a standard snorkel mouthpiece onto the tip of a conical, plastic soccer-field boundary marker. Then, in a series of tests conducted in the family swimming pool, Richie found that he could keep water from flooding the device by including a blow valve in the cone and a plastic membrane in the mouthpiece. After a month of further modifications, his invention was a complete success, allowing people to talk to each other underwater from up to 15 feet away. Under the guidance of his mother, Barbara, herself an inventor-entrepreneur, Richie flew to Paramus, New Jersey to pitch his new "Water Talkies" to Toys "R" Us. Richie concluded his presentation by using a fish tank to ask, underwater, for a purchase order, and he got it for 50,000 units. One of Barbara's business associates helped arrange incorporation, patent and trademark search, and manufacture. Richie's new company, Short Stack, LLC (named for Richie's favorite breakfast, pancakes) soon concluded deals with Wal-Mart, K-Mart, and other large chain stores.
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