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25.01.2022 How To Start An EntityHow To Start An Entity Recently an entrepreneur asked me how to start a business and I thought, wow where do I start? And right as I was about to start covering concept ideation he said, Oh, I already have an idea, I mean the actual entity. Ahhh, yes that’s the easiest part, I said. Here are 3 easy steps you can use to create your legal entity. ...Continue reading

16.01.2022 If You Could Ask A VC Anything Tallis and Rich discuss entrepreneurship and venture capital. Gain a better understanding of how VCs work and how they are integral parts of the business landscape and community. Learn about Savvy Ventures and funding opportunities through government partners.

05.01.2022 How does someone come up with a start-up idea? What type of divine inspiration does it take to come up with the next billion dollar venture? There are three main ways to come up with a company idea. The first is to look for a market inefficiency and provide a solution to fix the market inefficiency. The next is to identify a product or service that needs improvement and look for ways to solve that issue. The final way is to invent a novel technological advancement. I’ve been ...involved with all three types of companies. 1) Market Inefficiency: when there is a supply of something, be it physical or digital, and there is a demand for that thing, but for some reason the people who want it can’t get it easily. Amazon is a good example of this. Everything on Amazon was available to people before Amazon was invented. However, people used to have to drive to the bookstore or the mall; now much easier to just sit on the couch and order everything with free shipping. 2) Optimization: If something irritates you it will probably irritate others, too. If you can find a way to simplify a process or make life easier, you’ve got something there. To use a cliché, build a better mouse trap. Last winter, we literally had a couple mice get in the house through the dog door. I found some old school snap rat catchers but they didn’t work. So my wife bought a no-kill mouse trap, based off of reviews on Amazon, and it worked like a charm. 3) Scientific Breakthrough: if you’re an engineer, scientist, tinkerer or genius and you’ve come up with an innovative product or solution. The tragedy about this option is that it is very difficult to raise funds on something theoretical or paradigm shifting. Oftentimes investors want a proof of concept or prototype, but making something brand new can take tens of thousands or even hundreds of thousands of dollars. Some may say that is why grants exist, however if you apply for a SBIR or STTR with your idea, it might get stolen. If NASA or DOD or DARPA or another government agency really likes your idea they can straight up steal it. YES!! Literally steal your idea. I know two companies that had groundbreaking aerospace innovations that had their ideas stolen from them and given to larger aerospace players. One of the CEOs who had their invention stolen told me that from now on they leave critical parts of their idea out so their project can’t be taken from them.

02.01.2022 How a Basic Income Impacts Entrepreneurship Leave a Comment / Uncategorized / By Tallis Salamatian An Education and Entrepreneur Basic Income (EEBI) will not just allow individuals to quit their job and start businesses. Suppose you are a recent programming boot camp graduate and you want to start a business, Company X. Your product is a very cool mobile game app. Great, so because you’re a programer you can start working on the app. You soon realize you need help so you ask ...a friend you went to the bootcamp with to help. Because they like the game and you offer equity they agree to help you, you don’t need to pay them because they are able to tap into EEBI. You’re able to do the same thing for a few more people who help you with UI/UX, business and marketing all with EEBI. You then launch your app on the app store and become the next flappy bird game. This story is much easier than having to raise funds to hire people. Labor is typically 1/3 to 2/3 of your capital raise, depending on the type of company. Assuming the above example of an app development company, about 58% of the resources needed are going to labor. With this comes payroll taxes and income taxes making the take home much less than $1,000 per month, more like $750. With an EEBI system the individual will make more, and the company won’t need to pay payroll taxes. Finally, raising $70,000 is much easier than raising $166,000 and requires giving up much less equity