BOOK REVIEWS BY MAZLAN ABBAS
It is more than a book; it’s a companion for the tech entrepreneur’s journey.
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Embarking on the journey of building a startup in the volatile tech industry is like navigating through stormy seas. As the co-founder and CEO of FAVORIOT Sdn Bhd, I truly resonate with this metaphor, as our journey has seen its share of highs and lows.
Bernd Schoner’s “The Tech Entrepreneur’s Survival Guide” resonated deeply with me. It offered a mirror to reflect on past experiences and a map to navigate upcoming challenges.
The book begins with a grounding reality: most technology startups will not reach the funding stage, and even fewer will provide returns or reach a successful exit.
This sobering reminder parallels my initial days at FAVORIOT, where the daunting statistics against startup success tempered the excitement of pioneering in IoT and smart cities.
Schoner, having himself navigated a tech startup from inception through to a lucrative exit, provides not just advice but lived experiences, imbuing the text with authenticity and relevance.
Schoner delves into the crucial early stages of a startup, emphasizing team building, asset assembly, and legal and financial groundwork.
His advice on these foundational activities echoes my early focus at FAVORIOT, where assembling a team aligned with our mission was paramount.
The emphasis on securing intellectual property and establishing robust legal frameworks mirrored our approach, ensuring our innovative solutions were protected and our business was built on solid ground.
Venture capital (VC) financing is another critical area Schoner addresses.
His insights into navigating term sheets, pitching to investors, and the inevitable pursuit of additional funding were particularly pertinent.
Though unique, my journey with FAVORIOT had parallels in the relentless quest for capital to fuel growth and sustain innovation. Schoner’s pragmatic advice and candid recounting of his experiences provided a cautionary tale and a strategy guide for engaging with VCs.
Perhaps most resonant for me was the discussion on exits.
While FAVORIOT is still navigating its path, understanding the intricacies of a successful exit — whether through acquisition or other means — is invaluable.
Schoner’s detailed account of preparing for and executing an exit strategy offers guidance and frames such outcomes as a transition rather than an end, a perspective that aligns with my view of entrepreneurial ventures as stages in a more significant journey.
Schoner’s style — direct, candid, and occasionally humorous — makes the book not just an educational resource but also an engaging read.
His ability to distill complex situations into actionable advice is commendable, and his inclusion of diverse scenarios ensures the book’s relevance to a broad spectrum of tech entrepreneurs.
In conclusion, “The Tech Entrepreneur’s Survival Guide” is more than a book; it’s a companion for the tech entrepreneur’s journey.
It validated past decisions, offered insights into current challenges, and prepared me for future obstacles.
Its lessons are theoretical and grounded in the real-world trials and triumphs of someone who has walked the path.
For any tech entrepreneur, whether leading a nascent startup or steering a more established venture through turbulent waters, Schoner’s guide is an indispensable resource, providing wisdom, caution, and encouragement in equal measure.
Reflecting on my path with FAVORIOT and considering the journey ahead, I am grateful for Schoner’s guideposts and cautionary tales.
His book affirms the resilience required in the tech sector and celebrates the entrepreneurial spirit, encouraging perseverance, adaptability, and a steadfast commitment to innovation and excellence.
You can use my affiliate link to get this book, “The Tech Entrepreneur’s Survival Guide,” from Amazon.
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Dr. Mazlan Abbas 