janechristianenot

[janechristianenot]

Before the Holiday

It's almost Christmas, but instead of joy, our minds are clouded with fear and worry. Not for us, but for our relatives who haven't evacuated yet, despite the fact that the water level is rapidly approaching their second floor. What concerns me the most is the safety of my young cousin because my Tito was dead drunk. Fortunately, they were unharmed, and the water did not reach their second floor. If only I could pull Tito's hair out of worry.

Praying for the Bagyong Odette survivors and victims.

[janechristianenot]

Corporate and Strategic Entrepreneurship

According to this week's lecture, corporate entrepreneurship is the process of developing new businesses, products, services, or processes within an existing corporation, whereas strategic entrepreneurship is all about gaining a competitive advantage over the competition.

This week, our team is continuing to validate our ideas for how to improve our product, which will undoubtedly benefit our target customers. We also considered what features and services to include to give us an advantage over our competitors; this is critical because it will undoubtedly be the path to success for our product.

[janechristianenot]

Entrepreneurial finance and Venture capital

The professors this week addressed entrepreneurial finance and venture capital. I learnt that entrepreneurial finance is the study of value and resource allocation applied to new ventures, whereas venture capital is a sort of private equity and funding provided by investors to startup companies and small businesses that are seen to have long-term development potential. Venture money is often provided by wealthy investors, investment banks, and other financial organizations. It does not, however, necessarily take monetary form; it might also take the shape of technical or management skills. It was both rewarding and enjoyable to attend the lecture since I learnt a lot of things that I needed to know if I want to be an entrepreneur someday.

For our project's progress, we created our Minimum Viable Product, completed the Bullseye Framework, and created a landing page where we tracked our traction data for the first week. In addition, we created a prototype for our product, Queue-mission. I found that reaching out to potential buyers to get our product recognized was not a simple task.

[janechristianenot]

MVP and Traction

Creating an MVP was not a simple process. Why? Because, even if it is only an introduction to the goods we want to offer, it is the cornerstone of our business. What I mean is that the MVP is a tool for determining whether or not a business/product will succeed. The primary purpose of MVP is to provide the minimum functionality that will fulfill the users' key demands and successfully address a given problem. That is why, even if it is still a prototype (a form of MVP), it is essential. The initial impression is permanent. We must ensure that our prototype has all of the features and solutions that the consumer desires and requires. MVP provides various advantages, including cost efficiency, reduced risks, product clarity, and more. It is also critical to decide where to publicize the mentioned MVP. We must ensure that our primary clients are located in that sort of traction channel. Vtubers are the primary customers for our product, and we should avoid using Offline Ads (a form of traction channel) since Vtubers are more likely engaged on social media. To obtain strong traction, we must select the correct type of MVP and traction channels.

[janechristianenot]

Business Model Canvas

Customers, in my opinion, are a company's most precious asset. They are the ones that drive income; without them, the company would cease to exist. We must satisfy our consumers. We must be able to offer them with what they most badly desire and want. In this manner, people will remain loyal to you and your company. Using the Business Model Canvas, we may identify and address areas that can be changed to better fulfill the needs of our customers. BMC is a strategic management tool that allows you to see and evaluate your business concept or idea. It assists us in explaining to clients why they should do business with us. It can also assist us in more effectively communicating our goals and strategies to our staff. It helps to focus on what our company does and how it will continue to do it well in the future.

[janechristianenot]

Customer and Market Validation

At first, I assumed that determining our market size was just a technique to determine whether or not we could profit from our product. I just lately discovered that it is also a method of determining whether or not there is a market demand for our goods. If this product appeals to the customer's requirements and desires. In contrast to VPC, we spent a significant amount of time on this one since we had difficulty determining how many percent of potential consumers are present, particularly in the TAM section. We've also discovered our rivals. I discovered that there are a large number of people whose demands are met by the services provided by our product.

[janechristianenot]

Value Proposition Canvas

When attempting to address a problem, creating a value proposition canvas is a must. This allows you to learn what the customer often does, what problems the client confronts, and what the customer wishes or attempts to achieve. With the use of this canvas, we can now try to access what we can do to satisfy the clients after learning about their occupations, needs, and issues. What I enjoy best about this canvas is that it is simple to use and comprehend, and it helps you learn a lot about your consumer and what you can do to aid them. My teams had little trouble accomplishing this task during the creation of our VPC because we were already familiar with it and had interviewed our target consumers. Also, while creating VPC, I've learnt that we should be brief and to the point, especially when it comes to products and services. As a result, everybody can grasp it. I sincerely hope that everything we include in our gain makers and pain relievers would truly assist and gratify our clients.

[janechristianenot]

Team Formation

To create success, a team should be one. Everyone should be present and cooperative in every meeting, and everyone should stay professional with each other. However, due to this pandemic, is not easy to meet with my teammates since everyone has different schedules and free time. Fortunately, we were able to meet and discuss our ideas. It is really true that no man is an island and having four brains is better than one. Compare to the week that I am formulating ideas that can solve a problem, it is much easier to brainstorm ideas with my teammates. It’s easy to pinpoint every advantage and disadvantage to the ideas we formulate. It is easy to tell if this idea is efficient and effective. Even if, we have different ideas we were able to communicate well since everyone is open to their ideas and professionally agreeing and disagreeing with each of the ideas we come up with. Truly, it’s not just important to have a team rather the team should work as a team to make ideas work with success.

[janechristianenot]

How to talk to users and validate your ideas

This week, I learned two things. First, customer interview is a very crucial part of every business/company. During the interview, you will learn every specific details that your products should possess. Like in every problem the customer had, how the customer tried to solve it. Through this, you’ll have an idea of what features your product should have that will be able to help the customer. You will gain more knowledge on how you will be able to create a product that is efficient to the customer. Second, interviewing customers is not an easy task. Before the interview, you should have a specific list of questions to ask the customer/user that will help you to come up with ideas to improve your products. You should have a clear goal on what information you need to extract from the interviewee. Also, it’s important to create a casual and friendly environment so the interview feels comfortable talking to the interviewer. To extract more needed information, the question should be open-ended question and easy to understand so the interviewee won’t have a hard time answering the questions. Most importantly, the interviewer should know what type of user/customer to interview. In my part, interviewing someone is difficult, because I don’t feel comfortable or feel confident talking to other people especially strangers. Though I know that I should step up my game and be more confident, not just for myself but also for my interviewee. Since the interviewee might be uncomfortable with me due to my behavior and the interview might not be a success. Being more confident and being professional is very important in our daily lives not just in business, isn’t it?

[janechristianenot]

Self Assessment

Hello. My name is Jane Christian Enot, just call me Jane. I am 20 years old in the body of a 15 year old girl. I love sweets! My day wouldn’t be complete without eating one. I’m pretty reserved and a private person but I tend to be talkative with my important people. I prefer to stay home and chill, but I still go out with my friends and family since I consider them my true home. Even if I’m 20 I think I’m still ignorant, that’s why I want to continue to learn something. I like it when people gently point out my mistakes in private, it makes me feel important. It made me feel that they want to help me change to be a better person. Though, I still have a long way to go since I still get insecure about those people ahead of me. That’s why I am constantly reminding myself, you should too, that every wing grows at a different pace. Be patient and persistent. Ad meliora!

Personality

Today, I took a personality test today and it took me 5 times before I decided to stop. Out of my 5 results, 3 is virtuoso(istp) and 2 is logistician(istj). I took me 5 test before I stop because the I don’t feel confident with the introduction of the result. Both them describes me but at the same time not. Anyway, let’s focus in with the final result. I get virtuoso(istp-t) and my first reaction is “Eh? But I prefer to stay at home and I’m comfortable if I’m surrounded with people I know.  And what’s with this interesting challenges”. I’m really shocked with my result and I find it funny. However, the more I asked myself “Am I really like this? In what area?” the more I slightly accept the result. Unconsciously, I might like interesting challenges and create some changes in my life. I just remember how it made me excites just the idea of riding extremes rides with my friends, and mind you I haven’t experience any type of ride in my whole life. I want to earn and save a lot of money. I wanna be rich and spoil my family and friends. I want to us to do bungee jumping in China and try the 90 degrees at 63 meters roller coaster in South Korea. Go to a thrift store in South Korea, China and Japan. I hope I can make this happen together with them. It says that people with this personality type are natural makers. Makers of what, story? Lol. I can’t even finished my crochet wallet. Though I like to make foods if I can sell it. Though I agree when it says that people with this personality type often be seen as tomboys, I can still remember my brother often ask me this “What are you, a boy?” though I forgot the reasons. Then when I read the strength and weakness part, I was surprised that most of it is accurate especially in the part where it says that virtuoso people got easily bored. Most of my hobbies is still in the beginners phase because if I found something interesting then goodbye old hobbies. It will take a long time to try those hobbies again. I really hate this attitude, this is this the very reason why I don’t excel in anything. Also, I dislike commitment and being a private and reserved type of people made me lose a lot of good person in my life. It’s very regrettable. As much as possible, I don’t want to experienced again. That’s why I’ve try to change, little by little, opening myself to those people important to me, letting strangers get to know me and letting them enter my life, taking risk even if it might hurt me in the end. Regret over pain. Since the most painful thing you can experience in life is regret. I don’t want to regret not changing and making the same mistakes again.

Innovation Mindset

I also took the Berkeley Innovation Index Test and the result that came up matched my expectation. I’m the type of person who loves my comfort zone and as much as possible I want to stay here as long as I can. I prefer to be alone or be surrounded with those people I let into my life. Perhaps, my comfort zone is the reason why I don’t trust people easily because I only trust people inside my comfort zone which are only few. I don’t have a wide comfort zone and I don’t want to change it since changing your own comfort zone is the same as going out of that comfort zone. However, various situations make me bend my own comfort zone. It made me realize that  not all those people I let inside my comfort zone can be with me 24/7 since they have their own life too. They can’t help all the time and I can’t help them all the time since I don’t have all the knowledge and skills that we need to survive in this world. Which is why there are things that can’t be done alone. I really thought before that my family and few friends are enough, that I can learn all the things this world can offer through them but it’s not and I can’t give that to them too. My knowledge and experiences are very limited, since I always stay at home. There are things that you will only learn by mingling with other people. Every time I ask about something, for example about programming, my family can’t answer me and there’s a chance my friends can’t either. Even google can’t help me all the time. So, my only option is to ask an expert and initiate a conversation even if it’s hard for me to do.  That’s why little by little, I try to change. Time to time I get out of my comfort zone. During activities, even if I don’t trust that person and even if I don’t personally trust that person I still work with them because there’s a chance that they think of me that way too but they still stay professional. It’s really hard to collaborate and talk with people especially if you don’t have the same area of interest but it’s not impossible. In terms of trust in the workplace, there’s a chance that I might not trust them as a person but I might trust their capabilities and the will to do their job successfully. I still have a long way to mend my mistakes and change for the better but at least I’m on my way there.