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ES302: Technopreneurship (Weekly Blog)

FINAL TERM Week 7: Business Model Canvas

During this week, our topic instructor tasked us with presenting an assignment that we had completed the previous week. Due to our team's proactive approach and early preparation, we were the first group to present during the team presentation.

Presentation

In the realm of manufacturing, custom gear-making services are integral in supplying businesses with bespoke gears that meet their specific needs. Gears are crucial components that enable the smooth operation of various machinery and equipment. In this blog post, we will explore the Business Model Canvas (BMC) of a hypothetical custom gear-making company. By examining each element of the BMC, we will investigate how such a business can create value, generate revenue, and thrive in a competitive market.

1 Customer Segments The initial step in developing a successful business model is identifying and understanding the target customer segments. A custom gear-making service typically serves a range of industries, including automotive, aerospace, machinery, and manufacturing. The company may focus on catering to businesses seeking unique gear solutions, such as prototypes, replacement parts, or specialized machinery gears.

2 Value Proposition The value proposition of a custom gear-making service lies in its ability to deliver high-quality, precision-engineered gears that precisely match customer requirements. This encompasses expertise in gear design, material selection, and manufacturing techniques. By providing customized solutions, the company can help clients enhance efficiency, minimize downtime, and optimize machinery performance.

3 Channels Effectively reaching and engaging customers necessitates a multi-channel approach. This may involve leveraging online platforms, such as a user-friendly website showcasing the company's capabilities, a digital catalog of gear options, and an online quoting system. Additionally, forging strategic partnerships with equipment manufacturers, distributors, and industry trade shows can expand the company's reach and visibility.

4 Customer Relationships Establishing strong customer relationships is vital for long-term success. This can involve offering personalized customer support, providing expert guidance throughout the gear-making process, and ensuring timely delivery. Regular communication and feedback mechanisms contribute to understanding customer needs and enhancing the service based on their requirements.

5 Revenue Streams Revenue streams for a custom gear-making service may originate from various sources. This could include income from the sale of custom gears, pricing based on gear complexity and quantity, rush order charges, and fees for additional services such as gear maintenance, repair, and upgrading. Exploring subscription models or maintenance contracts could provide additional recurring revenue opportunities.

6 Key Activities The key activities of a custom gear-making service revolve around design, prototyping, manufacturing, and quality control. Investing in cutting-edge design software and manufacturing equipment is necessary to ensure precision and efficiency. Collaborations with material suppliers and employing skilled personnel are critical for delivering high-quality gears.

7 Key Resources The key resources required for a custom gear-making service include a skilled workforce with expertise in gear design and manufacturing, advanced machinery, and a comprehensive inventory of gear materials. Developing strong supplier relationships is crucial for sourcing quality materials at competitive prices. Intellectual property, such as unique gear designs or manufacturing techniques, can also be a valuable resource.

8 Key Partnerships Collaborations and partnerships can enhance the capabilities and reach of a custom gear-making service. This may involve working closely with equipment manufacturers to integrate custom gears into their machinery, establishing strategic alliances with complementary businesses in the supply chain, or partnering with research institutions to stay ahead of industry advancements.

9 Cost Structure The cost structure of a custom gear-making service consists of various components. These may include expenses related to personnel salaries, machinery maintenance and upgrades, raw material procurement, marketing and advertising efforts, and overhead costs such as utilities and rent. Striking a balance between cost efficiency and delivering high-quality gears is crucial for sustainable profitability.

The Business Model Canvas offers a comprehensive framework for analyzing the key aspects of a custom gear-making service.

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ES302: Technopreneurship (Weekly Blog)

FINAL TERM Week 6: Game 8-10 Activities

This week, our instructor instructed us to continue working on Games 8–10 as a team. Additionally, he encouraged us to step out of our comfort zones and tackle tasks that stretch our critical thinking abilities. The purpose of this advice is to foster personal growth, acquire new skills, challenge our limits, boost confidence, explore new opportunities, and develop resilience. Following his guidance, my teammates and I found a serene and relaxing environment where we could freely share our thoughts and opinions on the assigned tasks.

Game 8, known as the Flip It game, emphasizes the importance of perceiving challenges as opportunities for progress. Instead of settling for existing solutions without improvement, the game encourages team members to approach obstacles with an open mindset and propose viable suggestions for problem-solving. By embracing this positive outlook, the team can cultivate innovative solutions and actively seek areas for enhancement. Taking a proactive stance empowers us to identify areas of improvement and propose practical strategies to overcome hurdles.

In contrast, game 9 focuses on an opening game that aims to uncover concealed attitudes and behaviors. The concept of using an opening game to reveal hidden information about attitudes and behaviors is captivating. Games and interactive activities can serve as valuable instruments for researchers to delve into different facets of human behavior and attitudes. By implementing a structured game or activity at the onset of a research study, researchers can observe participants' involvement and collect data on their reactions. These responses offer insights into underlying attitudes, beliefs, and behavioral patterns that may not be readily observable through conventional survey methods or direct inquiries.

Finally, we have game 10, Graphic Jam, which supports the team's logo development and serves as a tool for visualizing concepts and project designs for copyrighting or protecting intellectual resources. The game "Graphic Jam" presents itself as an intriguing and potentially valuable resource for the team's logo creation and conceptual visualization. It appears to facilitate collaboration within the team, allowing for the creation and refinement of visual elements. This collaborative platform can prove advantageous in various scenarios, including logo design and project development. Moreover, the game's mention of copyrighting and intellectual resource protection implies that it offers a means to document and safeguard the design process. This aspect becomes particularly important in establishing ownership and protecting intellectual property rights. The game has the potential to serve as a visual record of the creative journey, which can be valuable for copyright registration or as evidence in the event of any disputes.

Overall, Graphic Jam appears to offer a collaborative and visual platform for logo development and concept visualization within a team. By facilitating creative collaboration and potentially assisting with documenting the design process, it can be a valuable tool in fostering innovation and protecting intellectual resources.

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ES302: Technopreneurship (Weekly Blog)

FINAL TERM Week 5: Campus Intramurals Week

The university has decided to concurrently celebrate a Wellness Week from May 22 to May 26, 2023, in response to the approved request from the University Student Government-USTP CDO to organize a Campus Intramurals event. During this period, students and professors are expected to temporarily set aside their academic responsibilities, leading to a suspension of synchronous, asynchronous, or face-to-face activities.

Campus Intramurals week is a highly anticipated event for students and holds great significance within educational institutions. It entails a series of athletic competitions and recreational activities that take place within the school or college community. This event fosters team spirit among students, promoting unity and camaraderie. It brings together individuals from diverse backgrounds and interests to collaborate and compete as a team. This team spirit has a positive impact on the overall school atmosphere and contributes to a sense of belonging.

Moreover, the Intramurals week provides a much-needed respite from academic pursuits. It offers students a refreshing break from their usual academic routine, allowing them to unwind and engage in recreational activities. This break can help alleviate stress and enhance overall well-being, resulting in a more balanced and holistic educational experience.

Lastly, Intramurals week celebrates diversity and inclusivity. It typically includes a wide range of sports and activities that cater to different interests and abilities. This inclusive approach encourages participation from students with varying skill levels and backgrounds. It promotes diversity and fosters an environment where everyone feels welcomed and valued.

Overall, the concurrent celebration of Wellness Week and Campus Intramurals serves as a means to prioritize student well-being, nurture team spirit, provide a break from academics, and promote diversity and inclusivity within the university community.

Overall, Campus Intramurals week is a highly anticipated event that offers numerous benefits for students. It combines physical activity, teamwork, and friendly competition to create an enjoyable and enriching experience within the school community.

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ES302: Technopreneurship (Weekly Blog)

FINAL TERM Week 4: Presentation of 3rd Major Presentation

This week marked a significant milestone as we completed our third major presentation for the course. Engineer Jael, our instructor, instructed us to finalize our presentation using any platform of our choice, such as PowerPoint or Canva. During brainstorming sessions, my team and I gathered relevant information related to our topic: custom gear-making services.

As Team 9, we were the last team to present, and Engineer Jael posed random questions related to our topic during the presentation. Our team's presentation encompassed the following key aspects:

Market Size Identification and Sizing: We conducted thorough research to identify and understand the potential market for custom gear-making services. Our presentation included data, statistics, and market trends that support the viability and growth potential of this market. We aimed to demonstrate the substantial customer demand for our services.

1.Customer Discovery: We shared the valuable insights and findings from our customer discovery process. Specifically, we highlighted the specific needs and pain points of customers that our custom gear-making services effectively address. To showcase the value and benefits of our services, we provided examples of customer feedback or testimonials.

2.Traction Channels: We explained the Bullseye Framework and how we utilized it to identify our top five important traction channels. Each channel was described in detail, including the rationale behind selecting them and the strategies we plan to implement. It was crucial for us to align these traction channels with our target market and customer personas.

3.Custom-Gear Making Services: We clearly communicated the distinguishing factors of our custom gear-making services that set us apart from competitors. Emphasizing our unique value proposition, such as high-quality craftsmanship, customization options, quick turnaround time, or competitive pricing, was essential. Visuals or samples were used to illustrate the quality of our work and showcase successful projects we have completed.

Overall, this presentation served as a comprehensive showcase of our expertise in custom gear-making services, presenting our market research, customer insights, traction channels, and the unique qualities of our services.

Overall, after the presentation of our team, Sir Jael complimented our presentation for the job well done and, of course, the efforts of my team as well.

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ES302: Technopreneurship (Weekly Blog)

FINAL TERM Week 3: Preparation of 3rd Major Presentation

In celebration of the College of Engineering and Architecture days, Engineer Jael, our instructor, assigned us an asynchronous activity for this week. The activity revolves around preparing our third major presentation for this particular subject. The tasks involved in the activity include identifying and sizing the market for our project, conducting customer discovery, and selecting the first five important traction channels using the bullseye framework.

Our team specializes in offering custom gear-making services that encompass a range of solutions. This includes the design and manufacturing of gear-making machines tailored to the specific needs of our customers. We also excel in high precision gear production, along with providing services for machine installation, training, and ongoing maintenance and support. Our target market primarily consists of manufacturing companies and individuals involved in the production of high-precision gears for industrial applications.

During our customer discovery process, our team gained valuable insights. One of the prominent findings was that the challenge of finding the right and precise gear is a significant issue in machinery, particularly in the field of maintenance and repair. This problem affects a large number of individuals, prompting us to further develop our technology to address their needs.

For market identification and sizing

In our implementation of the Bullseye Framework, our team carefully selected three key traction channels. Firstly, speaking engagements were chosen as an effective way to establish our gear-making services as industry experts and thought leaders. By consistently delivering high-quality content that addresses the pain points and challenges of potential customers, we can build trust, credibility, and increase brand awareness. Additionally, valuable content is likely to be shared, extending the reach and visibility of our gear-making services.

The second important traction channel we identified is content marketing. By delivering informative and engaging presentations, we position ourselves as authorities in the field of gear manufacturing. Speaking engagements offer valuable opportunities to educate the audience about the latest advancements, best practices, and innovative approaches in gear production. Moreover, they facilitate networking with key individuals and have the potential to attract new clients or forge partnerships.

Lastly, engineering as marketing was selected as another traction channel. By offering valuable engineering tools for free or as part of a lead generation strategy, we can effectively showcase our expertise and capabilities. These tools not only provide practical value to our target audience but also serve as a means of increasing brand exposure. Users who find these resources helpful are more likely to engage further with our gear-making services, such as by requesting quotes or consulting for their specific gear requirements.

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ES302: Technopreneurship (Weekly Blog)

FINAL TERM Week 2: Consultation of Midterm's Output Presentation

During this week, our team had a consultation with our instructor as part of our assigned task. Since we are Team 9, we were the last team to consult with our adviser. During the consultation, Sir Marberth provided valuable advice on improving our customized gear-making services. It was emphasized that we needed to enhance our efforts in order to achieve satisfactory output. Additionally, it was suggested that we conduct more interviews with individuals who have expertise in this field to gather relevant insights.

Consequently, our company's focus is on delivering a range of services related to customized gear-making. This includes designing and manufacturing gear-making machines tailored to the specific needs of our customers. We also specialize in high precision gear production, offering machine installation, training, and ongoing maintenance and support. The main issue addressed by our custom gear-making services is the provision of specialized gears that cannot be found in standard gear catalogs. Our services cater to customers' unique requirements, such as specific dimensions, materials, or performance criteria.

Furthermore, during the consultation, our team presented our marketing and sales strategy. We have developed a comprehensive plan that encompasses targeted online advertising, search engine optimization, and social media marketing. Additionally, we have established partnerships with key players in the industry to expand our market reach and enhance our visibility.

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ES302: Technopreneurship (Weekly Blog)

FINAL TERM Week 1: Presentation of the Midterm's Output Progress

Team Genk is a group of young and ambitious individuals who are dedicated to revolutionizing Custom Gear-Making services. In our recent presentation, we shared the advancements we have made in our innovative product/service with our instructor. We began by identifying the key needs of our customers, which include precise, durable, and customized high-quality gears that cater to specific requirements. Additionally, we conducted a thorough analysis of the competitive landscape and pinpointed areas where we can differentiate ourselves by leveraging advanced technology, ensuring quick turnaround times, and delivering exceptional customer service.

Regarding our progress in developing new technologies, we have achieved significant milestones in designing and developing a novel gear manufacturing process. This process incorporates cutting-edge 3D printing and CAD/CAM software, enabling us to produce highly precise gears that can be tailored to meet the exact demands of our customers. Moreover, this approach streamlines production by reducing lead times and overall costs.

Overall, we are making impressive strides in innovating custom gear making services. We have full confidence that our investments in new technology, equipment, and marketing will set us apart in the market and offer exceptional value to our customers. We appreciate your attention, and we will continue to provide regular updates on our progress.

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WEEK 6

This week's lecture series was centered around UI and UX design, delivered by a professional designer named Mr. Chris Torregosa. The lecture highlighted the differences between UI and UX design and emphasized the traits required to create a unique design.

I gained insights into how UI and UX design are closely related but separate fields in the digital design domain. User Interface (UI) refers to the visual and interactive components of a digital product or website that a user interacts with, including layout, typography, color scheme, and the product's overall visual design. The primary objective of UI design is to create aesthetically pleasing and functional user interfaces.

On the other hand, User Experience (UX) pertains to the overall experience that a user has while interacting with a digital product or website, encompassing everything from the product's usability and usefulness to the user's sentiments and emotions while using it. The aim of UX design is to ensure that the product is user-friendly, intuitive, and meets the user's needs and expectations, creating a positive user experience.

Thus, the success of digital products hinges on the effective integration of both UI and UX design. While UX design ensures that the product is practical, user-friendly, and satisfies the user's needs, UI design ensures that the product is visually appealing and easy to use. A successful digital product should strike a balance between both UI and UX design to create a product that users will appreciate and find useful.

Business Thesis Template

To meet the needs of the target market for custom gear-making services, the group developed a business plan. The group members will utilize a business thesis template to effectively identify and approach the target market. This will help them achieve their objective of satisfying the target market's needs for such a service.

A business thesis can be an effective tool for businesses to gather valuable information and make informed decisions based on actual data. The business thesis template is somewhat similar to the Value Proposition Canvas, which was created in previous weeks. By utilizing the template, the group has identified the target customers for their desired service, which are the Manufacturers, and Repair and Maintenance Providers. The customers' needs and pains have been identified, which is the group's primary objective to address. As service providers, the group's services and solutions to alleviate customers' pain points are presented in the template, outlining how they can meet the needs of their potential customers.

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Week 5- Interviewing Potential Users & Performing Game 5

This week, our instructor is absent, and we haven't had any face-to-face or online interactions with him. Nonetheless, he has assigned us a task to interview potential users or customers regarding the idea discussed in the previous meeting. Our responsibility is to spend time conversing with them, paying attention to how we communicate with them.

To communicate effectively during an interview, it's crucial to have a sympathetic, respectful, and unbiased attitude. The following are some pointers for communicating efficiently with your interviewee:

Begin with an introduction: Introduce yourself, explain the purpose of the interview, and provide some background information about yourself and your organization.

Be friendly and approachable: Make your interviewee feel comfortable by being friendly and approachable. Smile, maintain eye contact, and use a warm tone of voice.

Ask open-ended questions: Ask open-ended questions that encourage your interviewee to share their thoughts and feelings. Avoid asking leading questions that might influence their responses.

Listen actively: Listen carefully to what your interviewee is saying. Pay attention to their body language and nonverbal cues, as well as their words.

Clarify and follow up: If you don't understand something your interviewee has said, ask for clarification. Follow up on their responses by asking additional questions or asking them to elaborate.

Be respectful: Treat your interviewee with respect and avoid judgmental or confrontational language.

Take notes: Take notes during the interview so you can refer back to them later. This will also show your interviewee that you value their input.

Thank them for their time: At the end of the interview, thank your interviewee for their time and insights. Let them know how their input will be used and how they can follow up with you if necessary.

To conduct a fruitful interview, it's essential to come prepared, display empathy, and show respect towards the interviewee. Adhering to these guidelines can lead to a positive and productive discussion that can provide valuable insights for the project.

In addition, our instructor assigned us a new game to interact with our groupmates, building on the prior games we played. The "Business Thesis Template" that we will present at our upcoming meeting is a culmination of the information we have collected from both our team and users.

Throughout the week, our team collaborated and supported each other to complete the assigned tasks, brainstorming as a group. I had no trouble communicating with my groupmates as we worked on our individual parts. Based on my observation, our group successfully achieved our instructor's objectives as a team.

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WEEK 4

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WEEK 3

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WEEK 1

Edward Susa Jr.

Bachelor Science in Mechanical Engineering

The only way to start something is to start it. I took the Myers-Briggs type indicator (MBTI) test which is a tool which is frequently used to help individuals understand their own communication preference and how they interact with others. Based on the test I am the entertainer and I'm happy that I confirmed it since I am always the type of person who loves to joke around with my peers and loved ones. I am not surprised that I fall under ESFP-T or spontaneous, energetic and enthusiastic personality cause I get a lot of feedback that I am a very energetic and fun loving person. I am the type of person who is loud and very attracted to crowds, I love mingling with people and interacting with them so I guess the test was just a confirmation of the personality I already know. I also took the Berkley Innovation Index (BII) which is tool to measure an individual’s innovative mindset level. BII results showed that my personal innovative mindset level is 64.54 out of 100 which can be interpreted that there are still rooms for me to improve and develop some areas of concern. Taking the test helps me a lot in understanding my capability as a person in a field where innovative thinking is an asset.

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Two crucial steps to start a new business or project are recognizing potential opportunities and assembling a competent team. Although both steps are necessary for success, they require distinct skill sets and approaches. This piece will cover how to identify opportunities, the process of spotting them, and how to create a successful team to leverage those opportunities.

Opportunity Recognition

Opportunity recognition is a process utilized by entrepreneurs and business owners to identify potential opportunities for creating new ventures or improving existing ones. This process allows business owners to continuously generate fresh and innovative ideas while also enhancing their products and services through continuous improvement. Entrepreneurs with strong opportunity recognition skills can create new products that cater to current market demands, and this is a critical entrepreneurial trait that allows someone to identify a market gap, solve a problem, and generate profits. Due to their success and continued relevance in the economy, entrepreneurs with strong opportunity recognition skills are highly sought after.

The first step in opportunity recognition is to identify a market issue or an unmet need. This involves identifying gaps in the market that can be addressed or problems that a new product or service can solve. Consider changes in consumer behavior, industry regulations, or advancements in technology that may present new business opportunities. Once you have identified a potential opportunity, conduct research to validate your assumptions. This may involve studying market data, engaging with potential customers or business partners, and evaluating competitors. The goal is to find a market for your idea and identify any potential barriers to entry.

Team Formation

The process of assembling a team to launch a new business has a significant impact on both the team's effectiveness and the success of the venture. Although there is an increasing body of knowledge about entrepreneurial team development, it is currently fragmented and at a crossroads. After identifying an opportunity, the next step is to build a team that can help you bring your idea to life. However, it is not enough to simply find team members with the appropriate knowledge and expertise. It requires a thorough understanding of team dynamics and the ability to bring people with different backgrounds and perspectives together.

Start by identifying the critical positions that need to be filled to execute your business plan. These positions could include technical, marketing, operational, and financial responsibilities, among others. Look for people who share your vision and values and who have a diverse range of talents and experiences to contribute. When creating a team, it is important to establish clear roles and responsibilities, communication channels, and decision-making processes. Build a culture that values accountability, transparency, and collaboration. Continuously evaluate team dynamics and make adjustments as necessary to ensure everyone is working well together.

The strategy of the Students

The students were given the assignment to improve their understanding of the topic. In week 2, several teams consisting of up to four members were formed to complete various activities aimed at building stronger relationships with new group members and increasing trust and confidence among the team members.