#BAMM2B

[kentjasserdurias]

Entrepreneurial Mind Experience

Kent Jasser L. Durias

If there is two words that comes into my mind when I reminisce the lecture series it is probably the word listen and learn. "Listen" the ability of an individual to hear something with thoughtful attention. "Learn" on the other hand, is to gain or acquire knowledge or skill through listening and experience. In both listening and learning we can all become an entrepreneur; an entrepreneur equiped with the knowledge needed. I am Kent, although I am not ready yet, but I have listened and for sure have learned... A lot.

Engr. Bronson Mabulay, the first speaker in the lecture series, addresses the importance of start-ups in the business ecosystem. Start-ups are the growth catalyst and engine. When innovation and entrepreneurship are combined, a concept can grow into something larger, thus as entrepreneurs, it is beneficial to find government and non-government sectors that can assist our start-ups in terms of investment. Mr. Mabulay highlighted that there are government entities that can assist us in funding our start-ups as well as legalizing and operating the ideas for start-ups.

Furthermore, the second speaker, Mr. Arnel Areglo, emphasizes the importance of having a positive mindset when starting a company. His presentation has helped me visualize the competitiveness of the real corporate world, which is extremely beneficial to me as a student who lacks experience in both the business sector and as an entrepreneur. This lecture emphasizes that "as a response to society's increasing need for entrepreneurs, citizens should be trained to start businesses."

Moreover, the third speaker reinforces the need of intellectual property protection. Because start-ups are new or enhanced concepts of society, it is critical to initially file for patents, copyrights, trademarks, and other rights to ensure that the idea is credited to people who created it. This presentation also highlighted the distribution of commercialization benefits, where it teaches us the numbers on how to divide the economic gains in the commercial exploitation of start-ups as early as today.

In addition, the experience of pitching our own start-up idea to my classmates is somewhat worthwhile. On the demo day, however, the River level detector team did an excellent job of representing the section. I acquired insights and had a good experience listening to other sections' startup ideas.

In conclusion, I have learnt to listen in this experience, and with this experience it provides me knowledge and I hope to apply it anytime soon in the future as a real entrepreneur. I am thankful for a semester filled with fun, learning and experience.

[franzenehazel]

BLOG NO. 4

Franzene Hazel Y. BAMM2b       Entrepreneurial Mind     November 23, 2022, was the first day of the lecture series, we, students enrolled in GEE 16 Entrepreneurial Mind are encouraged to attend the said event. We as a group attend the event hoping that we can get lessons and apply them to our own venture idea since the topic tackled in the event is all about starting up a business. Also, the speakers who are invited to give talks and share their experiences are people who are professionals and know a lot about entrepreneurship and shared their own experiences. Thus, it was indeed interesting and we got a lot of ideas that we have applied to our pitching proposal which happened to be the day after the first day of the lecture series that is why I think it is really beneficial for our part since we could edit those parts in which we are not sure of and improve our venture.

On November 24, 2022, our pitching day we were nervous since no one wants to present first and we are not that confident about our product although we have done and improved what was said to us during the BMC and we also applied what we have learned in the lecture series. Although we are not the ones chosen to present during the demo day last November 25, 2022, we are still thankful for all the learnings we have learned during those 2 days of the lecture series. The learnings and the experiences that these subject has given us is really helpful for our future.

[franzenehazel]

BLOG NO. 3

Franzene Hazel Y. Tirado  BAMM2b       Entrepreneurial Mind            

Market Validation

ComPrice is an app that will help you to compare prices of the same goods from various establishments. Will help not just the students at Central Mindanao University but also everyone who has an interest or those who are having a hard time in deciding which one and where to buy their necessities that would be cheaper for them and could help them save. Saves your time, and money is convenient and can be accessed digitally. That is what our team can offer the market.

Competition in the market is inevitable, especially if we are just a start-up and are still going to introduce the business in the market in which those competitors are already present. ePresyo, IPrice, PriceMe, CamelCamelCamel, and BizRate are just a few of our app’s competitors in the market both in national and international aspects. Thus, we can say that it is hard to enter the market when you know that there is a lot of competition. What we did is we tried to find something that they don’t offer and put it on our app’s features like it can show establishments and physical stores near your location. Rewards are given. Focuses on goods and other products needed at home. Lastly, it is completely FREE……

The number of downloads and the number of people who are already aware of the features and how the products of the competitors work, it really put us at a disadvantage. But we know there is something we can offer. You are not an entrepreneur if you will be afraid of risks and failure, we would like to take the risk and learn from the lessons that can help us to improve our product and our business.

~~~~~ End of BLOG NO. 1 ~~~~~

[franzenehazel]

BLOG NO. 2

Franzene Hazel Y. Tirado                                              BAMM2b  Entrepreneurial Mind                                                                              ��                 

Hypothesis:

This kind of business will help not just the students at Central Mindanao University but also everyone who has an interest or those who are having a hard time in deciding which one to buy and where to buy their necessities that would also help them save money because it is the much cheaper from the same product on a different establishment. An app that would do you a favor in comparing the other products from various establishments is convenient for everyone. Imagine it, you do not have to go to different establishments and to canvas which establishment would help you save money, and it could save your time.   You just have to download and subscribe to the app and input your location. It would show you different establishments in that specific location, showing you the different prices of the same product, you are planning to purchase.

Hypothesis Tested:

            Our interviewees supported the hypothesis we’ve come up with. Seeing how almost everyone we have interviewed pointed out the problem of the sudden price increase in the necessities, and them trying to find an alternative without losing the quality. Of course, establishments sell the same product of the same brand but have different prices. Compose of 5 in our group and each one of us interviewed 8 people primarily students who are part of our target market, we have interviewed 40 individuals in total, excluding the last 40 students that were interviewed from the previous weeks.

Team’s Decision:

            Our team was having trouble deciding which of the concerns raised by our interviewees we should try to focus on and propose a solution for. Still, at the end of those interviews, after hearing from over 40 people, we chose to pursue the idea of providing an app that compares the different prices of different goods of different establishments. As students, we struggle to fit in our weekly or monthly allowance, but we also have our necessities. Almost our interviewees would try to find an alternative establishment in which they sell much cheaper but with the same product they find. So, we just settle on the idea of an app that could show them the different prices of the goods.

Team’s Option:

            An app is one, time convenient, helps you find an alternative establishment who offers a cheaper price of the same product by showing you the different prices.

            Goods made of plastics or recyclable materials were our second option. We would collect recyclable materials and buy a machine to convert the plastic materials into fabrics. What made this product impossible is that aside from we would be having a hard time how could we collect enough recyclables to convert them into fabric, it is also very pricey. The machine is one, it is expensive and the petroleum that is needed for that machine to work. That is why we have disregarded this idea, although we still find it very helpful especially in the environment.

Lesson Learned:

I have learned from the presentation of our first venture proposal was not all ideas were feasible and not all ideas presented will be accepted or get approved. We still need to know a lot of things and not limit our scope in order to meet new problems that we could give our attention to and maybe provide a solution that will be a great help and lead to the betterment of one city or even just in school. There are still problems that we have encountered that are still not given attention to and some are even inevitable that is why we are trying to find an alternative way of helping our community address these problems. We should always have room for improvement in the business. Every problem could be an opportunity for us, to help, to have profit, or better it could boost the economy who knows.

~~~~~~~~~~End of Blog No. 2~~~~~~~~~~~~~~~

[franzenehazel]

BLOG NO. 1

Franzene Hazel Y. Tirado BAMM2b                           

PRINTeREST                      Entrepreneurial Mind

Hypothesis:

This kind of business will help not just the students at Central Mindanao University but also everyone who has an interest or those who are having a hard time finding printing services when they have a tight schedule. Having a printer on the internet is somewhat new for almost everyone. Imagine sending your file online and having to choose when to pick up the documents that you need at your most convenient time OR you could also choose to have it delivered.

Hypothesis Tested:

  Our interviewees supported the hypothesis we’ve come up. Seeing how almost everyone that we have interviewed pointed out the problem of having no printer and a high price printing services that are already present in our community we have come up with this idea. Compose of 5 in our group and each one of us interviewed 8 people mostly students who are really our target market, we have interviewed 40 individuals in total.

Team’s Decision:

   Our team was having trouble deciding which of the concerns raised by our interviewees we should try to focus on and propose a solution for, but at the end of those interviews, after hearing over 40 people, we chose to pursue the idea of PRINTeREST. As students, we also struggle to locate places to print while saving money and waiting for our documents to arrive at the most convenient moment.

Team’s Option:

  PRINTeREST is one, having a printer online where you could send your files and choose when to get it or have it delivered to you.

  PasaBUY was the second option. It is more of a delivery of food. Since almost every student we interviewed also has a problem with how far the market is, we came up with the idea of why not make it a business? Being the one to buy those necessities for them doesn’t limit itself to food. It could be anything else, like school supplies or some cravings, or we could also offer that we would buy it for them regardless of where to buy it. It is more of a service type business. We just disregard this idea because of our own time and convenience. We can’t guarantee having a free time always.

Lesson Learned:

  One of the few things that I have learned in this activity is that there are a lot of concerns and problems us, consumers have but we can only give solution to few of them because there are problems that we can’t give solution to. Just like the target market’s problem with the poor signal and some other problems that I think we, team can’t give solution to. But we can’t just disregard those problems for maybe in the near future we can somehow give solution to those. We shouldn’t also limit our views on a specific place, we should look at every possible or potential business.

Documentation:

~~~~~ End of BLOG NO. 1 ~~~~~