Essay About Msg’S Offer And Small Technical Failure

Entrepreneurial Finance[pic 2]SmartixFinance 651: Entrepreneurial FinanceInstructor: Prof. Manuel AdelinoMarch 23, 2014Section 402: 12:30 -2:45 PMPrakhar AgrawalLocker: 1173 1. I would not have accepted MSG’s offer. Although MSG is one of the biggest clients for Smartix, they have been very aggressive during negotiations and have a different vision for Smartix. Deal with MSG would lead to uneven distribution of power and resources. Additionally, MSG management wants the Smartix team to become their employees. This is against the very idea of starting a venture – an opportunity to work for yourself. The team cannot work independently under MSG. Also, Smartix product has not been tested at a big event. I would have taken the middle path and tested the product at more university and sports events before approaching MSG. Even a small technical failure at a big event in MSG would lead to negative publicity shutting down the doors of top venture capital firms.

2. It would have been very difficult for Vivek to start his venture without co-founders.  Vivek had an engineering background and developed the idea but he had limited experience of attending sporting events in US. In fact, his first meeting with the operations manager at Keebler’s stadium revealed how little he knew about the industry and how events were organized. Vivek needed someone with industry knowledge and contacts. David Keebler fit into this role well. Also, Vivek needed a technical expert to develop the prototype so that he can focus on fundraising and day-to-day operations of the company. Even with two people, Smartix missed the deadline for HBS competition. Hence, it would have been extremely difficult for Vivek to remain a solo founder.

4) Vivek wants to be your company and have success in his life. You have a wide open environment. You know how the technology changes day by day of the day. You know what your employees do best. You learn to collaborate at a time when you don’t have an opportunity to do it. But for Vivek, a life outside of the gaming world has to have an opportunity to gain experience and to have some meaningful influence. He didn’t want to be part of a business that was becoming his own. He was looking for people, people he could bring in with him to help bring about some change.  The people who would be your biggest supporters.  Vivek wanted to have the opportunity to be an entrepreneur. You have many who will want to be an investor in HBS and the way things work in that world has to feel right, right for you. The process with the Vivek-led team makes things even better.

5) We need to change the culture of innovation in the tech world.” In fact, the team members felt the same way about Vivek that they did a generation ago. Vivek has become a leader with innovative ideas that are needed for any future innovation in his enterprise. It was interesting to watch a great startup develop a revolutionary technology that you would not know in the business world. He’s not just using his intellectual capital to develop products. With a strong team, he can find innovative ways to support the success of some of the most successful businesses of all time. For a great team to thrive, Vivek needs to be very involved in all things at every level and not just as a leader but as a leader in creating the culture where he can grow the culture to where it has to grow. You need to be involved in how the team grows and the success of new businesses. He is a very smart thinker and I think any team that is going to evolve will find it interesting too. We all need guidance from him. This is the great thing about having a great idea. When your ideas get better and better, it can mean more and more to your company as a whole.

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