cristylll

[cristylll]

Blog 4

4th blog

Hello readers! I'm back again with our new blog. Sad to say, this might be my last blog I'll be posting. I just need some time to grow and improve. As for my last blog, I would like to share with you readers what I have learned along the way, how those activities have altered my thoughts with regards to business, how to handle circumstances, everything. 

An entrepreneurship subject typically covers a range of topics related to starting, managing, and growing a business. This is what our professor told us in the first place. It aims to equip students with the knowledge, skills, and mindset needed to navigate the complexities of entrepreneurial ventures. I honestly wasn't interested in this thing and even questioned myself why we have to study something unrelated to our course, not until I tried and pushed myself into a world I have no idea about. 

Studying entrepreneurship goes beyond business creation; it cultivates a mindset and skill set that prepares us for a dynamic and challenging world, encouraging us to approach opportunities and challenges with creativity, resilience, and a proactive attitude. It fosters a creative mindset, encouraging us  to think outside the box and come up with novel ideas. 

It encourages critical thinking skills, enabling us to analyze problems, identify opportunities, and develop innovative solutions. It's proven when we had our very first step on completing the task which I have already posted in my first blog. By taking the initial step,I know we have set the stage for a well-prepared and organized start to our business. 

Making a concept map was harder than I initially thought it would be. But we did it well where we  illustrated the relationships and connections between various concepts or ideas related to our topic or a problem and organized the thoughts, brainstorming, and presenting complex information. This  effectively developed our communication skills for presenting our ideas, and promoting the products.

Entrepreneurs often face setbacks, and I learned the importance of resilience and perseverance in the face of challenges. It encourages me to analyze situations critically, identify problems, and develop innovative solutions, which is transferable to various life and career situations.

Overall, studying entrepreneurship empowers students with a holistic understanding of business concepts and the practical skills needed to start and manage successful ventures. It equips students with a versatile skill set that goes beyond business creation. These skills and mindsets enhance their ability to navigate challenges, pursue opportunities, and contribute positively to various aspects of their lives.

Hanggang sa muli, readers! 

[cristylll]

Blog #3

Good day, everyone. I'm back again with a fulfilling heart today! And I'm so excited to share with you guys in this blog on how we successfully presented our business model canvas. Happy reading!

The Business Model Canvas is a business tool used to visualize all the building blocks when you want to start a business, including customers, route to market, value proposition and finance. It identifies the products or services the business plans to sell, its identified target market, and any anticipated expenses. 

Before the midterm ended, we presented our business models canvas thoroughly where we showcased in detailed our product. This includes on specifying our customer segment which we have chosen the niche market, value proposition, channel through partner store, web sales by making own Fb page to post our product, customer relationship, revenue stream, key resources , our branding, copyrights and patents, key activities, key partners, and lastly, cost of product's structure. 

After presenting, follow-up questions and clarifications were followed by our instructor. That includes the range of our product, its price, and other changes needed. 

We have come up to have another survey form/interview and discussed with the group mates some other ways to improve our product.  Same as from the previous interview, we have also gathered 100 respondents from students in CMU. After in depth discussion, these were the changes we have to improve on our product: extending the product's capacity, from limiting to Musuan area [only] to extending it possible to Valencia; having its free delivery upon purchasing the product; a promo/discount every start of classes; trusted sources of materials for the product; knowledgeable IT Technician ensuring the quality of the product; and a friendly price. 

In conclusion, the business model canvas allows us to carry out a high-level analysis without drilling down and getting lost in the details. It gives you both vision and clarity and provides young entrepreneurs like us with a tool to analyze, structure, and evolve a business while always keeping the bigger picture front of mind.

[cristylll]

Blog #1

"If you're not ready to be uncomfortable, then you're not ready to be an ENTREPRENEUR " 

Hello readers! I was so busy at school these past few days but I was still able to enjoy my college life tho. It's my first time here and I am so excited to share with you guys my journey of my first step on becoming an ENTREPRENEUR! Yes, you read it clearly and right. 

Our journey was actually done by group but our professor instructed us to interview 8 people per member, this was to give us an idea on what business we have to start. The task given was kind of challenging. I really had a hard time searching for an interviewee but I was grateful I was able to interview some of my friends back in high school who are currently taking up BS in Entrepreneurship. For us to gain insight on to what people are seeking in terms of a change and a solution to a problem while trying to come up with an idea for business, we have discussed and decided to create  some questions for our interviewee, these are the following:

1. What problems do you encounter in your daily work? 

2. As a consumer, what is the current demand for products in the marketplace? 

3. What factors are most important to you when deciding to purchase from a new business?

4. What current problems exist in the field of agriculture, medicine, and education that need to be solved?

5. Upon evaluating the problems encountered in the fields, do you have any product suggestions that can be launched in the marketplace?

In order for us to do the interview, we decided to do it through messenger since most of my respondents are not from here in CMU, Bukidnon.  In this way also, I can interview them at their most convenient time. 

The information we got from the interviews with their different problems they encounter, allow us to gather enough feedback, thus, understand the pain points they are facing, and enable us to brainstorm and come up with viable solutions. 

After we completed the interview and gathered the results from our respondents, we determined that in the sector of agriculture is where most of the issues can be found. Rising cost of crop production and fertilizers are the major factors that contribute to the overpricing of rice - which is their main concern. The solution they propose for us  to overcome and lessen the problem is to have high efficiency alternative fertilizers that would help to increase their crop yields.

After doing the task, I have learned that interviewing is not only about listening to what interviewees have to say. It is about deeply understanding what they are going through in their daily activities. It allows us to empathize with customers to put ourselves in their shoes, to understand their needs and pain points, and, most importantly, understand why the product should be implemented.

Right decisions are based on data and facts. Instead of just guessing what customers want, it is always worth it to consider customer interviews, and figure out the best ‘version’ of your desired product or service. 

I guess that would be all for my first blog everyone.  Happy to share it with you guys! Hope you'll still be with me on my next blog :) Happy reading!

[cristylll]

Blog #2

Hello everyone. I'm back again to share with you how good yet challenging I have been these past few weeks. I will  explore how we can leverage the empathy map to help create a business. Can't wait to share it with you in this blog. Happy reading! 

Understanding your principal user’s motivations, frustrations, and actions is critical to targeting them effectively and providing sustainable solutions for their problems. While not a trivial task, creating empathy is easiest to accomplish by creating an empathy map.

An empathy map is a collaborative visualization used to articulate what we know about a particular type of user. It externalizes knowledge about users in order to  create a shared understanding of user needs, and  aid in decision making. 

It provides a series of prompts to identify a target group's thoughts, feelings, motivations, desires, and needs. This forces our group  to focus on the target group's requirements, rather than its own. We use an Empathy Map to consider how people might respond to a new device or a pain point. 

After we have successfully finished the first task given to us last month, we have been busy again lately in developing an empathy map. We made a survey questionnaire via google form using the questions we had generated from the empathy map and gathered 100 responses. We have assumed that the product will be effective in raising the product's profitability and price value perception. On the other hand, the product's quality and purpose might be ineffective to the customers. 

After thoroughly analyzing the results from respondents, we have observed that more than 50% of the respondents have common in response, particularly the fear of going home or walking alone without the assurance of their safety. With that, our group have decided 

Empathy mapping enables us to better understand our target audience by considering their viewpoints, desires, and pain areas. It contributes to discovering deeper insights into customers’ behaviors, emotions, and goals, resulting in more informed decision-making and effective communication tactics.