Mission Statement

Mission Statement

1. Mission

SeCrypt is a start-up company whose mission to provide file security for anyone who owns a smartphone and computer.

2. Vision

Our vision is to provide to people feel safe about what they have on their phone without someone stealing it.

3. Goals

This company is intended to be established as a Limited Liability Company in Seattle, Washington with the expectation of rapid expansion in the encryption software industry nationally and internationally. The company solicits financial backing in order to be able to introduce our encryption software in the industry.

a) Historical

The reason I decided to start in this company is that I am always fascinated by security software, and by the rise of people stealing files from other people, and the government. I believe every person is entitled to have their own personal security. In order to achieve that, people need the right tool. I decided to create a company that will provide that to the people

b) Current

After deciding to create a company that will help people secure their own file without the help of anyone else. As for now, we created a prototype for phones of the product that will help customers secure their files. Our company’s short-term goal is to provide a user-friendly UI design and with few clicks, you are able to encrypt your files for any person, different schools, hospitals, and agencies in our locality.

c) Future

In the future, we would like to improve our product, so that users will be able to use encrypt and access their files on different platforms (tablets, computers etc.). Something that most of the encryption companies does not provide. In this billion-dollar market, we plan to get a hold at least 2% of the worldwide market, and in order to achieve that we need to be recognized in the Washington area.

Dot.com Bubble

At the beginning of the quarter, Andrew Fry talked about different topics that he will touch. One topic that he was really excited to explain was the Dot.com Bubble. The Dot.com Bubble happened between 1992 and 2005 and during that period, the technology world rises and fall. During that period, if you wanted to make some money as a company, you could just add dot.com with the name of your company.

Andrew used dinosaurs to represent the biggest companies during that period. I feel like the reason he used those dinosaurs is to make a point because dinosaurs are extinct and most of the biggest companies during that period does not exist anymore.

The Dot.com had five stages;

·      Innocent Beginning (92-95)

·      Boom! (95-97)

·      Insanity (97-00)

·      Burst! @#$%! (00-03)

·      Crawling Back (02-05)

During the innocent beginning stage, different companies started to create different ways to use it but mostly for their internal servers. At that time, the most known companies that knew how to use it was CompuServ, Genie, Prodigy, AOL and Free-Range Media owned by Andrew Fry, but the one had the most successful was CompuServ and Prodigy.

During the Boom stage, other companies started joining those ranks such as Yahoo! and Amazons. However, many people believed that Amazon wouldn’t survive.

During the Insanity stage, all kind of companies was getting funded to launch their companies online. Until that time Prodigy was leading company, but AOL decided to buy CompuServ and passes the Prodigy.

During Burst Stage, investors started pulling out their investments because they started losing money and everything started going downward: stocks and companies go to bankruptcy.

However, the Burst did not stop people from thinking outside the box to find different ways to come back from that. Some companies survived the burst such as Amazon, Yahoo! and new one emerged such as EBay, Expedia, MySpace. This was the phases of the Dot.com Bubble.

Guest Speaker: John Dimmer

This week, we get the guest speaker that Andrew Fry has been talking about for a while. John Dimmer is someone with a lot of knowledge and experience. However, he did not start that way because when he started his own company he was unsure if he could do it. I have the same feeling right now because even though I have an idea to lunch my own business. He explained that after graduating from a degree in accounting, he went to get work for the company to improve his skills. This is something that I have in mind because my end goal is to start my own company. Maybe if I work for a company, I would acquire some skills that I could use in my business.

Another interesting that John Dimmer explained is to always have an exit strategy. You should have a plan on when you are going to exit the business whether it is about money. For instance, if the company reach a specific revenue, you will sell or you have a specific time on how long you are going to run the business.

Most of the guest speakers that we had this quarter talked about the aspect of the product: how to price it, or to make sure it works, listening to your customer review. John provided the financial advice which holds a huge part. He explained different steps to follow when you are a startup. One of the advice that he provides is that always have a product that works before you look for investors. Another advice is always trying to finance your own product or use friends and family to help you as a startup, and always think carefully before start using angel investors. Know who you are bringing to your company to invest because sometimes you can get people to invest in your company and later on, they vote you out. In a way know what you are giving up.