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[macelbacs]

FOURTH BLOG

As I'm writing this, we have already presented our final pitch and we are now at the end of an era. But before that, I'll share what I've learned during our lecture series.

Intellectual Property Rights and Technology Transfer Speaker: Dr. Gamaliela A. Dumancas

Intellectual Property Rights give creators exclusive rights to their concepts. It safeguards unique ideas to give credit to whom credit is due.

2. Start-Up Ecosystem Speaker: Keren Happuch A. Lacadin

Not every single business can be called a start-up. A start-up is scalable, disrupts the current market, and has growth potential. Many remarkable companies started as start-ups such as Meta and Google. In the Philippines, the Department of Information and Communications Technology (DICT) gives funding to start-ups that has the potential to grow.

3. Incubation Programs and Opportunities Speaker: Glyrhiz Marhiel A. Tabamo

In reality, not all start-ups succeed. That is why we need an incubation period for those unique ideas to be polished and thoroughly examine the strengths and weaknesses of the proposed start-up. But the thing is, we should not be afraid of the incubation period. Because the best thing we can do with our unique ideas is to make them into something potentially useful. Indeed, it doesn't matter if we fail; the important thing is that we tried.

4. Start-Up Journey Speaker: John Ryan Loyloy

We always hear the words "sa simula lang yan mahirap" but in the world of start-ups, it is not. The journey itself is hard and it will always be. One problem comes after the other and it will seem like there's no end in sight but as entrepreneurs, we have to move forward and push through. We have to recognize that problems are not just there to block us from achieving what we want rather, they exist because we have to learn things the hard way to strengthen us.

Overall, the lecture series opened up a lot of topics both old and new. It was very helpful in guiding us in understanding what it takes to actually build a start-up from the ground up.

Now it's time to address the elephant in the room. This will be my last blog for The Entrepreneurial Mind. It has been an amazing journey and I have learned a lot of things throughout the semester. I realized that I am actually capable of doing something good through our proposed startup. I hope we get to realize that dream with the ultimate goal of helping other people especially students like us. Thank you for being with me in this journey and I do hope you learned something from reading my blogs. Thank you everyone! Macelbacs, out!

[macelbacs]

Hi! It's me again. We have already completed our BMC Presentation and as of today, we already have a prototype for the app. So this is what happened last week:

Customer Narratives, Hypothesis Tested, and Results Found

Hypothesis Tested: The customers will be delighted with the existence of an app for their orders. The Facebook page will serve as the customer feedback channel for faster and more convenient communication with the customers. The utilization of a Facebook page will be beneficial for both parties since it is an already established form of communication and it is commonly used by the target market.

Customer Narratives:

Customer 1: Nice na naay app and hopefully dali ra siya gamiton and accesible siya para sa tanan. Unta ma push jud ninyo kay for me as someone na galisod ug mata ug sayo, lisod najud kaayo mamahaw pero kung naa siguro koy groceries naa siguro koy makaon before musulod sa klase.

Customer 2: Okay ra ang app na feature pero suggest lang nako na ma connect ninyo ang app sa inyong page para bisan naa ka sa app, if naa kay gusto i feedback regarding sa imong order kay mahimo nimo siya without manually exiting sa app. Other than that, nice jud inyong idea. Unta madayon ni.

Customer 3: Diba naa moy app as you stated ganina, pero what if mag error? Dili na lugar maka order? Sayang pud sa inyo if maka encounter ug ingon ana. Pero other than that wala naman koy maingon. Padayon lang mo kay dako siyag tabang if ma push na ninyo.

Customer 4: Maayo na naa moy app pero have you considered na additional expense siya if ever need ninyo mag maintenance run? Need na ninyo i consider.

Results Found:

The customers were delighted with the fact that an app would be launched together with the start-up. However, they still have initial concerns about the usability of the app, the convenience of making feedback, the app maintenance, and costing.

2. Team's Decision:

The app will be the only channel for order placements. Feedback on the app will only cater technical concerns, not on the order itself. The Facebook page will be used for promotions, announcements, event information if there are any, and order concerns for customer service.

3. Team's Options:

a. Only utilize the app for orders

Pro: The team is focused on one thing since only one channel will be utilized for the orders.

Cons: No immediate customer feedback through the app, no backup in case the app encounters technical difficulties

b. Utilize a Facebook Page for those who cannot access the app

Pros: More accessible for others who are still learning to use the app, immediate customer feedback through direct message

Con: Additional task for the team since we will be monitoring two channels for the orders.

4. Lessons Learned:

With the things that we did for the past week/s, I learned that adding features to your start-up is not an easy feat. More features may also mean more maintenance costs. However, this does not mean that we should not add those features for us to lower maintenance costs. We just have to assess whether or not the upgrade is worth the money. As for our app, I do think it is worth the shot. With the rise of technology, I am confident that we can make it as user-friendly as possible for the convenience of our customers. Moreover, I have also learned that customer feedback is vital. As the start-up team, we may not see issues since we sometimes cannot see the whole picture. This is where customer feedback and validation come into play. These people can recognize possible challenges of the features designed for them that we sometimes cannot see. Thus, we should consider their opinions on this matter.

Another long blog entry for this week haha. It's been hectic but we live to fight another day. That's all guys! I hope you also learned something from reading my blog. Byeee!

[macelbacs]

Hi! It's me again. Last week, we were tasked to perform market validation for our customers and future business partners. 1. Hypothesis Definition The customers will be happy with the ease of the delivery service because they will receive their groceries in the comfort of their own homes. As for the business partners, the proposed business conditions are favorable to them because of the following reasons: 1. For the establishment/s who will be our main supplier for the groceries, it means more income for them since they are sure that we will purchase goods from them. 2. For the delivery manpower (CMU Students who wish to work), it is favorable for them since it will mean additional allowance for their expenses here at Central Mindanao University. 2. Hypothesis Testing For the last week, I asked two customers, one student who wants to be a delivery rider, and one supplier from outside CMU (refer to the attached picture). Customer 1: "Ganahan ko sa concept kay dili na bitaw hassle na magpalit pa ug ginagmay sa market tas magbalik balik pa. Ma plan napud nako ahead of time akong lutuon sa akong meals since makapalit man ko ug pang one week na budget kay ideliver na man siya." Customer 2: "Convenient siya for me as someone na hectic kaayo ang schedule kay dili nako mabalaka na mahutdan ko ug groceries sa boarding house. Unta apilan sad ug food and medicine if ever para isahan rasad nag palit tanan hehe." Delivery Rider: "Actually nice siya na concept kay makatabang siya sa students na gusto mag part time while ga skwela. I suggest lang na makahimo namo ug guidelines sa kung unsa ang requirement para ma hire ninyo, ang share per delivery, ug lain na mga butang na need ninyo sad iconsider para sa safety sa rider pero overall nice jud ang concept unta mahimo ninyo ni kay dako ni nga tabang sa uban." Supplier: "Okay lang ginahatod man ka namo sa CMU kada monday dalahon nalang nato ang stocks. Sa presyo, lower than SRP nako ihatag since direct man ta sa distributors mas gamay lang akong patong since in bulk man sad ninyo paliton. Pagsaba lang daan unsa na stocks imong kuhaon para mapalit sad sa distributors inig schedule nila. Okay rasad kay sure na nga naay mahalin sa stocks haha strictly cash sa imoha hahaha. Mayra sad nga nakahuna huna ka ana. Ayaw lang kalimot mag inventory para dili ka malugi haha." In summary, our hypothesis was accepted and it was deemed favorable for all parties involved.

3. Team Decision 1. Craft a partnership contract with the suppliers as a form of agreement to purchase goods in bulk lower than SRP. 2. Craft guidelines on how delivery riders will be paid and their benefits as business partners. 3. Look for more suppliers outside CMU for lower prices. 4. Take advantage of close connections in purchasing goods at supplier prices (family businesses). 5. Take into account buyers' suggestions like including pasabuy on food deliveries and other necessities aside from groceries. 4. Team's Options 1. Purchase groceries in bulk from CMU Market Pros: Accessible, Close to Campus Cons: Higher prices since they already bought it from somewhere else 2. Purchase groceries in bulk from close connections Pros: Lower than SRP since we will be given a special price, easy negotiations and agreements Con: A bit far from CMU 5. Lessons During our market validation, I have learned that starting a business is more than just thinking about the money that we will be using for the startup. There are a lot of things to consider aside from the capital fund for the business. Market Validation is very important in creating an insight on how people will react to your business. It will also give you an idea on how your business will impact other people's lives, it's impact to the current market, and the ways that you can do to sustain the business. I have also learned that being in the business world is more than just finding customers. As a businesswoman, I also need to form partnerships with suppliers and gain their trust that I can also help their business thrive while taking care of mine. What a long blog entry for this week haha. That's all guys! I hope you also learned something form reading my blog. See you in my next blog! Byeee!

[macelbacs]

First Blog for The Entrepreneurial Mind

Hey guys! I'm Maria Cecilia D. Bacod, a 1st year BSIT Student. I created this blog to document my journey as an aspiring young entrepreneur. For my first blog, I will share what I have learned in this course.

First of all, I have learned that new businesses can alter or disrupt the status quo in the business world. It is because they can promote change and introduce innovation that can make the lives of consumers easier. They can serve as a competition for existing businesses which can drive owners to also innovate and improve their products and services to keep up with the competition and retain their existing customers.

Second, I have learned that entrepreneurs are one of the most creative people on the planet. They are able to recognize a need in a seemingly perfect environment in the business world. They launch ventures for the government, business, or consumers which can either be product-centric or service centric.

Lastly, I have learned about the 4-step process in generating ideas for a product which are identifying the point of pain in a target market, innovating a product or a service, testing the business model, and exploring how to acquire customers. This 4-step process ensures that a business idea is feasible, unique, and has the capability to thrive in a specific area with a specific target market and its specific needs.

That's all for today's blog! See you next time! Ciao!