shannyeool - Tumblr blog

[shannyeool]

Hypothesis:

The team believes that using the three Cs of business pitching will be a successful way to promote the startup to investors and raise the necessary initial funding.

Testing:

During the final pitching day, the team tested the 3 Cs strategy, which is clear, concise, and compelling. Due to the limited time allotted to each team to present, our team did our best to keep our presentation as clear and concise as possible. The team presented all necessary information while excluding all irrelevant information that would divert the attention of our potential investors. Making the presentation and team fascinating would captivate the attention of investors and leave a mark that could guarantee the investment required to launch the business.

Team Option:

We decided as a group to eliminate any extraneous words and make our pitch as brief as possible. But ofcourse we  include everything an investor needs to know about our plan. We also used the 10/20/30 rule. That our pitch deck will only have 10 slides, 20 words, and a font size of 30. This is to ensure that investors do not become bored with unnecessary elements and waste their time listening to another round of investment options. This is also to ensure that they stand out from the words stuffed into small font in the presentation versus what we're simply stating.

Team Decision:

After our pitching presentation, there was a problem encountered in the delivery process. The panelist was right in saying that it might be a problem for shop owners to provide their own staff in delivering their products. With that, our panelist suggested possible solutions for our problem. Hence, we made the decision that we should change something in our start-up because of course devising a new plan would be better as it would take into account a lot of new factors that have arisen.

Lessons/Reflection

Before our pitching, we made our ppt presentation to be clear, concise and compelling. However, due to a lack of practice, we did not finish our presentation during the final pitching, and one member was unable to present because time had run out. It was a regret that we didn't communicate or practice in balancing the time and our parts. Some members have over-explained their part, and others are adjusting as time runs out. I have learned that we should communicate more and suggest effective ways to have a good outcome. Moreover, I have learned that we should also take into account the side of our shop owners if it is convenient for them like for instance the delivery process. To recapitulate, i have learned a lot from the final teaching as our panelist suggested ways and educate us of our lacking.

[shannyeool]

Hypothesis 1:

The start-up will be recognized through utilizing strong marketing channels by advertising the mobile application in various social media platforms.

Testing:

Our target market commonly uses different social media platforms. These social media platforms will influence our target clients' shopping decisions as they develop and become more incorporated into their daily routines. With that statement, social media participation is critical for business marketing, particularly for new enterprises. Signing up and creating a page is straightforward and free, and managing it is simple. It enables the team to assist potential clients while also allowing for cost-effective startup expansion. As a result, by developing a strong social media following and brand, the company will attract and convert customers

Team Options:

There are many social platforms that our target market used. The following are the options of where we will be advertising our mobile application:

Facebook

2. Instagram

3. Twitter

Team Decision:

Our team decided to use numerous channels such as Facebook, Instagram, and Twitter because these three platforms are the most convenient and visible to use for our target market. As a result, the group decided to sign up for these platforms since we saw it as a tremendous opportunity to obtain public attention.

Hypothesis 2:

The start-up will gain capital and potential investors by convincing shop owners to be our business partners.

Testing:

Raising start-up capital is the most crucial component of developing a new business because it is what every business need. A startup will not be viable without finance. Entrepreneurs must consider a range of different things as they seek to launch their startups, including funding. Startups commonly raise funds from venture capitalists or their personal networks (e.g., family and friends). Asking or convincing shop owners is an excellent way to discover trustworthy investors.

Team Options:

The team approached many business owners near Central Mindanao University, such as food stalls, pharmacies, laundry shops, and so on. We asked a lot of shop owners who would be our business partners. Upon validation, some of them agreed to become our business partners since they believe it will be more convenient and easier not only for them but also for their consumers who do not have time to travel to the market. Some of them, however, disagreed, claiming that they would pay fees for the service that we would offer.

Team Decision:

Our team decided to offer our services to all businesses around CMU instead of focusing on specific businesses. Those shop owners who agreed will be our business partners/investors.

Lessons/Reflection:

During the lecture series, I have learned that in this area of work, many aspects come into play and ideas must be backed and rethought often in order to be realistic. A business is more than just a bright idea. However, it takes a lot of resources and ongoing preparation with multiple adjustments to get it to function. However, just because it works does not mean that innovation or adaptation ends. Moreover, businesses naturally become more complex as they grow, so it's vital to continuously look for ways to simplify them. Learnings can be used to improve existing projects and their succeeding phases. Education can begin at any stage during the project and does not have to wait until it is completed. Thus, lessons can be found at any stage of the project.

[shannyeool]

After two years of the COVID-19 Pandemic, Central Mindanao University initiated complete face-to-face instruction. However, we cannot deny that there are several issues that students face at the said university. As students in this subject, we saw this as an opportunity to offer potential answers. With that statement, we conducted an online survey to learn about the potential issues that each student encountered. The following were the outcomes:

Internet Connection

Printing Station

Dormitory Hunting

Water Refilling Station

Canteen/Snack Station

The aforementioned issues above are all valid, however the poll revealed that water refilling stations are a major concern for them. The difficulty of finding water to drink, given that the market is far from many colleges/buildings, is a major problem that students have expressed. The students or even the faculty must go to the market to get something to drink, which is inconvenient for them considering the vast land of this university. As a result, we will provide solutions to the suggested problem/concern. Our group has recommended a solution of putting or providing a refilling station in different areas, such as the Social Hall, Fulbright Garden, Graduate School bench, Grandstand, and others. Furthermore, Palaro is approaching, which will be a huge benefit for everyone during this hot weather.

However, after presenting our venture proposal, we discovered that applying this solution would create a conflict or challenge for us. For example, who would fill the gallon if it ran out of water? Simple questions like those are difficult for us to answer because we are nursing students who are preoccupied with our studies and duties. As a result, we formulated and implemented a new concept that would be extremely useful to everyone.

Aside from the University Market, our group acquired more information and found that there are numerous food chains/snack bars spread throughout University Town. However, due to our university's vast land area, students, as well as teachers and staff, are unaware of these. Furthermore, those who have ideas about the existence of these food bars are frequently hesitant to go to the specified location where the foods/goods are served, concluding that their food preferences are not available, the food bar is not yet open to serve customers, or it is too far away from where they are at the time.

We intend to construct a mobile application that incorporates the food bar located at the University Town Market, as well as those located further away. Furthermore, the program will cater to businesses that offer dry products, school supplies, pharmaceuticals, and so on. We feel that we are not only assisting in providing convenience to our target market, but also with the owners of the food stalls/shops. A fee will be taken in exchange for the information that our mobile application will display about their goods.

To recapitulate, our team realized on this voyage that we needed to explore more and be more innovative. Our teamwork and cooperation has resulted in this notion that everyone can benefit from. "A business is merely a concept to improve the lives of others." Thus , we uphold as student nurses in the clinical context to deliver the excellent care that our patients require; this is also synonymous with being an ENTREPRENURSE.

Documentation:

[shannyeool]

"Economic growth starts with people”

That line by economist Joseph Schumpeter piqued my interest. For I too felt that goods and services do not merely exist, but must be generated by people. These people are known as "entrepreneurs," and they create or seize an opportunity and pursue it regardless of the resources they already control. Entrepreneurs establish start-ups, and they are trained to develop and promote a product or service. If that is successful, the economy will grow with the help of individuals/entrepreneurs.

However, according to Ken Singer: "a startup is an act of rebellion". Many disruptors develop a product, service, or manner of doing things that displaces established market leaders and eventually replaces them at the helm of the sector. As a result, each entrepreneur must deal with several conflicts and problems. Disruptors are more concerned with getting the business model right than with getting the product right. When they succeed, their rise from the periphery (the low end of the market or a new sector) to the mainstream erodes the incumbents' market share and then profitability. This process can be lengthy, and incumbents can be highly inventive in defending their established businesses. Disruptors could be a disaster or a benefit to anyone.

Thus, entrepreneurship training is an organized program designed to provide participants with the essential expertise and mindset to develop and establish new company initiatives. As a response, we can prevent common misconceptions, conflicts, and issues in this subject. The government instituted the "Entrepreneurial Mind" course for college students and even high school students in order to teach every student how to encourage innovations that open the door to new businesses, markets, goods, and technology. Hence , everyone should be an entrepreneur as it will open doors to your destiny.