maidaugsarosong-blog

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Happy Teacher's Day

Last week we had just our BUSINESS MODEL CANVASS which you will answer each category but relevant to the business idea and will simplify . Its include key partners, key activities, key resources and it is also includes the cost and revenue streams of your product. It will also explain the value of your product and which customer is your target of the said business idea.

In my group we decided to change the name of the product. Instead of selling, we decided to make it subscription were the customer will pay for the subscription fee and if the time expire on its alotted time and another payment will be collected for the continuation of subscription. We decided that the business idea will be the system. We also have free bin for the customer.

We also decided to change the name of the product, and that name is INNOVATED SEGREGATOR SYSTEM (ISS) from its former name INNOVATED SOLAR BIN (ISB). For us to gain more profit we decided this changes so that in a long time we could still collect a money from our customer for the service we rendered for them .. Then aside from that it will be beneficial for the both of us and it will be helpful for them to segregate the garbage and less hassle.

We already did a validation of our business idea from IT DEPARTMENT here in CENTRAL MINDANAO UNIVERSITY. That validation motivate us that this business idea will possible to make, not just an idea but soon will be a real one product. They also gave us the materials needed for this innovation and advices on how to make this . Advantage for us who really care for the environment and have initiative to give the solution to the problem that related to our Mother Earth and if that day will happen it will be helpful and useful to everyone not just to the people but also the planet were the people live.

[maidaugsarosong-blog]

Happy Teacher's Day

Last week we only had our reports about BUSINESS MODEL CANVASS and we shared to the class about the key partners, key resources, key activities, revenue streams etc. BMC includes also the values of your business idea and its features.

In my group we decided to change the name of our business idea. We decided that the customer who will want to use of this they only need is to pay its subscription fee to its alotted time we set. By that in a long time we could still gain more profit from it. If the time of subscription will expired you need to pay for continuation of service .

We decided that the name of our business idea is INNOVATED SEGRAGATOR SYSTEM from its former name INNOVATED SOLAR BIN. So the bin itself of this will be free but the system will continuoustly pay by our beloved customer. Aside from it is really helpful especially in collecting the garbage inside, since one of our features is it will alarm if it is already full and will automatically will inform about the system .

We already validated it from the IT DEPPARTMENT and according to them it is possibly to do it but it will be tiring in registering data in its computer system but the important thing is we already knew that this product will be possible to make and if that will happen it will be helpful to our environment.

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Customer Development and the MVP

That topic was discussed last monday and we continued it just this day. Customer Discovery has its process that would lead to business innovation. It would help to develop our product and improve it into the higher level. The first customer development process is the CUSTOMER DISCOVERY which needs to know your customer, your target customer first.

In CUSTOMER DISCOVERY you need first to do the Pre-Planning were you should plan first your customer, where the place you can see your target customer and make a questionaire asl your guide for the next step. The next step is the Interview which you will interact verbally or not, face to face or you can talk it through social media is your target customer. In this step you will know and you can relate what does customer wants and needs and what are the major problem they are facing now and then you will know what should do on the next step. Last step is the Analysis and Insight which you can get an idea from your customer where you can make it as your start up. But in every idea you've got from your customer you should write it down for you to know and won't forget the idea after the interview you've done.

The next process is the CUSTOMER VALIDATION which you will validate the idea that from the CUSTOMER DISCOVERY. If it is valuable to your target customer and the other person which possibly would try your product aside from your target product. Validation would also help your product would known to everyone and also your customer will have an idea about your future business model.

Actually this process was divided into two category the CUSTOMER DISCOVERY and CUSTOMER VALIDATION named as a SEARCH. As i discussed it above it is obviously that your searching something and as a searching for a business model you will answer the problem which is the customer want to solve. Next is the CUSTOMER CREATION and COMPANY BUILDING where named as an EXECUTION where a business model means transitioning from a start up venture to an established organization. After all the validation and discovery you will now have an idea and an outcome from your valued customer. You will execute now the idea and make it posible .

Having a CUSTOMER ARCHETYPE it will you to know who to talk to during during customer development. To determine how to market and would guide hypothesis formation during product development and to help define MINIMUM VIABLE PRODUCT (MVP).

MVP is a development technique in which a new product is developed with sufficient to satisfy early adopter. The only way to experience these variables is to place the item on the market and assess its output. The minimum viable product is also designed to create an agile process where the product is published, tested and enhanced in further development rounds.

This all about will help you to have an effective business model in the future maybe after graduation or while your studying you can now start the first step in customer development process. This would help me and in my group to our innovated solar bin where we already have plans on how to improve its performance and its features. It will also help us to guide what' s next to do . After listening this lesson another idea was come up and as I learned from it I already take it down for me not to forget it and also I'm planning to share it with my groupmates to get ther approval.

Thankyou for another learningssss!!!😊

[maidaugsarosong-blog]

ENTREPRENEURIAL MIND

Being in the class with Ma'am Alice is privlege for me. In every discussion she had you will learn and it is really useful especially in making business. Though my group already done proposing the business product we have right now and for us it was really nice and great but you will think that there is something wrong with and need to improve.

Our INNOVATED SOLAR BIN we thought and we believe that it is really perfect and it is really useful to everyone . But after discussing it in front and Maam Alice had her feedback about it, and another idea came up and a little bit realization about our lapses. So next time we will improve it and we will make sure it will be okay .

I learned that every business you made you need to consider if it is applicable in our daily life and if it is reliable to everyone . You need also to validate it for you to know the value of your products . It is really important in every details you need to know.

One thing that should remembering in making business " know your product well "

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My 3rd Blog

We had just one class for the whole week since our school celebrated Foundation Day. Last week Mam Alice gave us a tasked by group which is about Business Innovation and luckily we already have our product to present and actually we are ready it by Wednesday to present but we had an activities and discussion that time and the presentation was postponed.  That activity was related to the business innovation assignment and I got some idea on how to.

So that activity is, we need to built a tower with use of spaghetti sticks and on the tip of the tower is the marshmallow. I am already knew this activity because of CMU Leads  and fortunately, my group won that time . 

i learned that to make this tower possible you need to have a tough and strong foundation so that your tower wont easy to fell down. like in the company you need to have a business which is a need and necessary in our life. In able to have a product like the best for everyone you need to asked your target market or have some interview for you to know what their needs and wants. In short you need to validate your product for you to be successful in selling it. 

You need to have some innovation to uplift your company from your competitors. You need also to listen for you to know what is exactly the problem and you will think whats next step to do. In business you need to put yourself in the shoes of others to feel them, that’s what EMPATHY exactly means:)

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2nd Blog of Entrepreneurial Mind

Since a lot of classes was suspended last week because of some activities and holiday, so we had just one session for all the week. We tackled about the business literacy seminar which was conducted last September 4, 2019, which the speaker of that time was a successful in their fields and they shared a lot of things that I can used in my future. But the whole duration in seminar tackled of being INNOVATIVE in their business. How they are just started of being like that then they innovate and then equal to SUCCESS!

Being innovative in the field of business is very useful especially there’s a lot of competitors  to tear you down.But the most important thing is how you will handle your company or your business to be tough. Need to be creative and wise especially in strategic management you make. you need also to know the SWOT in your company or business right now so that you can calculate what to do next.

Ma'am Alice just assigned to class by group to think a business and innovate it. But as of now we couldn’t think a business to propose in the class because nowadays a lot of business and there’s always a technology to make their business effective to the customer. So this activity is a little bit hard but I know to myself and in behalf of my group we can do it . AJA!!!!

[maidaugsarosong-blog]

Entrepreneurial Mind

#1stBlog

        3 times a week with M’Alice in the class of Entrepreneurial Mind subject was fun and awesome. She has this unique style of discussion and for me it is really effective when it comes on catching up the lesson. Before we proceed to discussion she will gave first an activity then before she discussed the relevant of the activity into the topic.

       First activity we had was “ giving any problem and solve it in business solution”. Then here we goes, she group the class into 2 then another group will asked a question and the other one will answer it through solving it into businessw related solution. it was logic and mind-blowing  especially on how you will solve it. but in the end i learned and it was nice activity because as business related course you will think on something that i can use in my future business.

        The second one, she gave a task about Rejection Therapy where we we’re going to video and ask some strangers a question where they we’re going to reject us and the deadline of this activity will be on Wednesday. it is a by pair activity by the way. at first i am so excited and my self confidence boost that time but as the time goes by my boosting self confidence slowly reducing and until now I don’t have any output to pass. But still hoping i could do it by tomorrow with my partner.

          Last activity we did was a storytelling, where we are going to drew and there is someone will asked you what would you draw. Thankfully, i didn’t messed up on doing it and it was a bit similar to the original picture and I am so proud to myself knowing that i really not into drawing. i learned a lot because we couldn’t even draw without a clear communication with your partner which is the on who storyrtelling. Trust is also important and you need also to agree that not all the time you can do it by yourself but you will also need a help from others to make things nice.

          Thankyou and Goodbye!