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The Last Blow
Reminiscing those times when we had our first meeting in our subject Technopreneurship. It was quite interesting since, we’ve been instructed and told by Engr. Bronson Mabulay to explore and test ourselves if we really belong to the field of entrepreneurship or remained as simple students. That’s when we formed a group for the formation of our start-up. Along the way, we have experienced so much more in the field of business. Through those experiences we garnered, we have realized that starting a business is like investing all your time and effort in such no assurance of success. Therefore, sacrifices are always present in business.
This week we had our Final Demo day held at USTP – Performing Arts Theatre last October 11, 2017. The night before that day, all of my co-fellow 5th year classmates were waiting for the list of teams that would be qualified to the Top 7 Finalists to compete for the Final Demo. It seemed like we were waiting on the winners of the Miss Universe. The excitement and tension were present in everyone. And fortunately, our team was one of the Top 7 Finalists. We were so nervous because we haven’t prepared so much for the big day. But since, we are one of the Top 7 Finalist, we still face the crowd with confidence with no high hopes of getting the top rather to exposed ourselves to show our very best.
During the Final Demo day, our team was the fourth presenter. Due to the lack of preparation, we just redo what we did in our last presentation during the elimination. So, we don’t expect too much high. We just grabbed the chance to present in front of the investors since, it’s once in a blue moon opportunity. The investors had so much critiques on our start-up. Right then we realized that our start-up is not that ready to be implemented in the real world. Yes, we are aware that we chose an interesting topic for start-up but it requires a lot of time and effort in completing its essence and effectiveness. Thus, if we are about to pursue our start-up, we must exert a lot of perseverance in the making of our start-up. Maybe were not just fully equipped with knowledge and strategies in meeting the necessities of our start-up. Yet, we are thankful because all of our hardships were acknowledged because we have been given a privilege to present in front of big people.
Overall, our experiences and learning we had along the journey of our Technopreneurship are irreplaceable. We were so lucky that we tend to experienced such opportunity. We had validated ourselves that we have the qualities of being entrepreneurs. We have faced challenges that strengthen our relationship among ourselves. This one of a kind opportunity created a big impact among of us 5th year students. It awakens our inner selves that we must start to face the reality of world. By this, we can rest assured that we have goals to attain to be successful.
To our ever-supportive instructor, Engr. Bronson G. Mabulay, thank you for all the undying support and determination in mentoring us to fulfill our start-up. Your guidance helped us a lot to achieve and secure goals for our future. We will truly treasure the knowledge and advices you have bestowed upon us. You will be our inspiration in our future endeavor. The memories you had with us will remain in us forever.
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Pitching Competition – Elimination Round
This week, we had our Technopreneurship Pitching Competition – Elimination Round. The pitching competition held last October 5, 2017 was the first step to be taken in order to proceed for the final demo day which would be held this coming October 11, 2017. Whoever team that may be qualified to proceed for the final demo day will have chance to pitch in front of the entrepreneurs that may turn into as prospect investors. In my own view, I thought of our start-up as an advantage to catch entrepreneur’s or investor’s interest, since, the concept of our start-up generally addressed on the common problem being face by people even nowadays and that is the queueing system. Which seems to be very hassle and if not, may be the queueing system existing now lacks something that made it not enough to solve the problem aroused. Our team would like to take this opportunity to share what our creative minds ideas to solve or contribute for the sake and progress of our queueing system that may be one of the reason for the slow transactions.
During that day, me and my team had butterflies in our stomachs since, we haven’t much prepared for the pitching due to hectic schedules. And since only me and Niña pitched in front of the four respective judges, the tension of the situation was more focused on both us. So, during the presentation of other teams and while we were on our chairs, we practiced our script and thought of possible questions that the four judges may asked on us and prepared some sort of answers. And when our team was called to present, the chills just can’t be helped but triggered us to be nervous. Yet, we remained calmed and confident in front even though we felt like we just want to be swallowed by the floor. Especially, when I almost forgot my line which was purposely to lure the attention of the judges. I really made a messed right that part but I was startled by the reaction of the crowd specifically, the judges because they laughed. I guess they won’t catch the idea of what I was trying to convey there because I felt that the momentum was broken. But, somehow, I felt like I was still understood by them though it may be a late reaction. Actually, we didn’t expect that the crowd applauded at the end of our pitching may be because of our ear catchy tagline. Fortunately, we managed to deliver the concept of our start-up vividly to the panel of judges. And we were looking forward to adapt the judges’ suggestions regarding our revenues. Still, we won’t be expecting too much of the result yet, we remain positive on it. At least we have given a chance to share what our start-up is. But, if we would be given a chance to proceed on the final demo, then it would be a great privilege for each one of us.
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Tactics
This week, we had our last class in Technopreneurship. In our last meeting, we presented about the Revenue Model and Customer Relations of our start-up. Engr. Bronson Mabulay commented on our pricing tactics, according to him our monthly subscription cost too much for a certain system. So, we decided to talk to our prospect early adopter to verify if they would be willing to take the price of our system. As a result, we depreciated the price in accordance to the worth of our system. But, in order to attract more customers, we decided to offer free 1-month subscription that will serve as testing phase for our customers for us to know that our start-up is marketable. We also identified the qualities we must have in order to get, keep and grow customers. We realized that those things are very essential in the development and success of our company.
During our consultation, Engr. Bronson Mabulay highlighted regarding on acquiring the PSA to be our early adopter. And actually, we are working hard to gain their approval of this matter. We are still on the process of proposing our system to them. Yet, it’s our advantage since during our last appointment to PSA, we already been given a chance to implement our system to them only that we are going to abide the necessities required in accordance to the functionalities of our system to their daily company activities. We also explained thoroughly to Engr. Bronson what our start-up is meant for. Its scope and limitations to clearly emphasize the functionalities and capabilities of our system.
To sum up our week, understanding the core of our start-up would lead us to a more vivid outcome. It is necessary to fully understand the flow from point to point of our system in order to attain the success we are aiming for.
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A Week of Bounty Business Knowledge
This week, we had a seminar regarding on the Acquisition Cost and Customer Lifetime Value. The speaker is EnP Rolan F. Literatus. He is a superb in his field for he has a lot of work experience right then and now. The speaker enlightened us on the essential points of starting a business.
One of it was the Customer Acquisition Cost in which he emphasized that a company must determine effectively its CAC in order to achieve the expected sales in the market. He also cited several key points in improving company CAC, the financial forecasting for a technology company and the Customers Lifetime Value. The ability of the speaker to deliver the topic lively made us internalized the essence of managing a business. Aside from that, after the seminar we had General Assembly for Computer Engineering students and we had a short discussion about the Industry 4.0 which was discussed to us by Engr. Bronson G. Mabulay. During the discussion, we were amazed of what would be the future of the industry in the years to come when technology advance to its highest level. Sir inculcated the importance of having the skills in developing software technologies such as the application of Artificial Intelligence which involves machine learning that is the main ingredient of the Industry 4.0.
He also differentiated the Industry 3.0 and Industry 4.0. And the two types of Industry have a gap in between them because the Industry 3.0 is composed of machinery but without the application of Artificial Intelligence whereas, the Industry 4.0 involves high technology machinery with IOT and application of Artificial Intelligence that would lessen the human workforce.
In addition, we, the 5th year CPE students have met again our speaker during the seminar for the Start-up Ecosystem held last June 21-22, 2017. He is Mr. Paulino Llido, a linguist from foreign country and at the same time a Filipino business man with a lot of knowledge on latest technologies and knows how to code machines. Right then and now he still follow-up us on the progress of our start-ups. He seemed to be very determined in helping us to pursue our start-ups with no hesitancy.
The fact that he’s been imparting his knowledge to us about start-up businesses for free is what made us realized how much effort he’s been exerted to. He made us feel very special even though we are still students. We got chills because he believes in our capabilities. It’s just very heart-warming to know that there is someone professional who is willing to help us so we can succeed and excel in the field of technology business.
Indeed, this week was a memorable week with full of business related knowledge. These experiences we had would remain as treasures in our whole life. The opportunity to listen and talk to professional business experts is an honor. I would keep those memoirs of them as inspiration for it may lead us, the Computer Engineering students to succeed in the near future.
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Gaining More Customers
This week, we have been taught by Engr. Bronson on how to gain customers’ trust and loyalty. The first thing to do is to check on their feedbacks based on the pricing of the product. If the price of the product is cost-effective or not. It is important to know that because customers might find it very costly if the price range of the product is beyond the product’s capabilities. And customers might look for another product that is more affordable than that of existing product. This only means that entrepreneurs must carefully observe not just for the effectiveness of the product but also on the effect of pricing the products. Since, even if there is already assurance of high product sales, there is still tendency that customers might look for another product that are more affordable and cost-effective products. Engr. Bronson also highlighted on how to do pricing on our products. It is simply determining our costs and revenues. Do careful calculations that will not affect the company’s sales and most especially, the company’s profit.
As a result of the discussion, we have realized that we must do background checking on our customers to verify their feedbacks based on the pricing of our product. We must have a clear agreement with papers. And we must know our customers’ side on the product’s capability to supply or cope up with their daily necessities so that we will know if our product is worthy of the price. As a matter of fact, knowing the side of the customers helps a lot in developing the effectiveness of our product. It will also help us to lure more customers that will patronize our product. By that, advertising our product will not need extra effort anymore because our customers will be the one advertising our product to their fellow customers.
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Feedbacks from Three Judges
This week, we presented a pitch deck for the second time around. But this time was different, since, we have three panel of judges from different departments. We were so nervous that time and very conscious of the words to utter. But we must do our best and deliver our pitch clearly to them to gain positive feedbacks. So, we presented with all our might to please them.
After we presented, the tension got worse because they have been asking numerous questions concerning the essence of our concept in our start-up. And it was the queueing system that we are planning to implement. To our dismay, the panel of judges observed that what we are planning to implement is not the concept of real queueing system that acquires real-time update of current number being served and would notify the client/customer the estimated time of arrival before serving their respective priority number. And of course, that may sound impossible since, we can’t easily manage and allocate specific estimated time of arrival of the client/customer. And we don’t even know how long and how much time a current client/customer being served will get done in their appointments.
Engr. Mary Ann Telen, one of the judges, highlighted that what we must do in order to achieve our goal was to focus on the appointment system. Since, what our wireframe shown was all about the freedom of the user to choose when will be their convenient time and day to visit and have their appointments.
Actually, I thought we already stick to the concept of appointment system, but my team decided to try to push through the concept of queueing system. Because we considered the concept of appointment as similar to queueing system since, the user will choose among the given time schedules available and if a particular schedule was chosen, then it cannot be reserved or be chosen anymore. Well, I guess the panel of judges just don’t get what we are trying to emphasize. Maybe we are lacked of convincing explanations that time that’s why our concept was quite disturbing and not enough to supply the solution to the problem we mentioned. As a result, my team and I decided to take their suggestion to change our concept into more specific idea and that is to pursue the appointment system instead of queueing system.
The feedbacks of the judges truly influenced us. At least we have realized more ideas in order to fulfill our goals and to see things brighter than the yesterday.
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Key Channels and Economics
This week, we presented our key channels and economics of our start-up to the class. And Engr. Bronson Mabulay made us realized that our economics is not that effective, since, the price of our product is not that much realistic compared to the present price range of existing queueing system nowadays. But even so, we just thought of how much we can do to cope up with the amount invested by our investor. We are also corrected regarding on one of our key channels which is the newsletters. Well, our team believed that even though majority of the people right now are not use to reading newspapers but instead relying on the televisions, radios and social media, there are still those people especially senior citizen that are still comfortable on reading newspapers rather those other means of delivering information to people. But, Engr. Mabulay enlightened us that our start-up is really meant for those people who are techy and exposed to advanced technologies, so, we decided to eradicate the newsletters as means of advertising our product. Our team already settled for the appointment typed queueing system and we are making revisions on some of its functionalities to achieve the objectives of our start-up. The presentation this week somehow gave us an idea on how to pursue and improve our start-up to be more efficient and useful to users. We also be able to deepen our understanding in business pricing to make our product to be economically affordable and to be reasonably priced in order for our customers to acknowledge and be contented on our product.
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Proposal Presentation to PSA
This week, we prepared a proposal presentation for the Philippine Statistics Authority. So, we decided to present a pitch deck. We gathered each other's idea as one, in order to make our preasentation appealing to our prospect early adopter. We also improved our pitch deck presentation that we used during our midterm pitching presentation last July 17, 2017. We made alterations on it and made it more catchy in the eyes of the customers. Due to the numerous suggestions of the companies we've interviewed, we decided to take some of their suggestion. And that is to make our start - up sounds like more possible, according to them, we must make our queueing system as an appointment system. It would still be a queueing system since, the user will make or book an appointment in accordance to the available time slots remained. So, the essence of queueing is still there. We made brainstorming so that we can make an effective proposal to PSA and I am glad that my team are very cooperative and understanding. Each slide of our presentation was made meticulously. Each of us has role when presenting our proposal. We also did a mock pitching so, we can present our proposal more understandle and appealing to our future early adopter. Indeed, this week was a very busy week. But me and my team managed to handle it despite of our hectic schedules. I'm hoping this bond of ours will continue to make things brighter for our future business together.
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The Pitching
The preparation for the pitching lasted for almost 2 days. Me and my team poured a lot of effort in fulfilling the preparations for the pitch. We planned first on what will be the contents of our pitch. We did brainstorming in every detail to assessed the effectiveness of our pitch’s content. Each of us has its own part in making our presentation. We also did a mock pitching to practice each part of the presentation. All of those efforts that we did was not just subject for completion, rather an experience to fulfill for the betterment of our future pitching presentation.
During our pitch deck presentation, we were very nervous. It was like we are already presenting in front of crowd even though we were just inside our classroom. We just can’t deny the fact that each team has their own strategy on how to deliver their pitch effectively. We were very conscious of the time, since, there was a time limit of 7 minutes. Our presentation was partially incomplete due to the information content of our target market which are the TAM, SAM, and SOM. We thought of targeting only the Philippine Statistics Authority but to our dismay, our target market should be covering all companies and payment centers that cater 100 to 200 people a day. We also learned how pitching should be delivered effectively in front of our prospect investors. To sum up our presentation, it was not perfectly delivered but at least with traces of our efforts that we did our best for the success of our presentation and that we are looking forward for the next pitching presentation where we will be facing real business people.
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A Visit to CEPALCO Main Building
“Hello. This is Miss Doreen, the HR of CEPALCO. We have received your letter of intent. When are you going to conduct the interview?”
Upon hearing those words from the call, my team and I were delighted. After two weeks of waiting, they already respond to our request. So, we agreed on the date and time of our visit.
Then the day has arrived. We rush on the main building of CEPALCO located at Upper Balulang, Cagayan de Oro City, right after our class. Upon arriving at the area, we were amazed by the structure of the building and its neat and clean environment. The security is very strict in there. No one can get inside their premises unless you already have booked your appointment ahead of time. You cannot take pictures inside their premises except if you asked for their permission.
The head of the security entertained us. So, we signed their log book and exchanged our IDs to their visitors’ IDs. We were instructed to the location of their Human Resource Department and we were turned over to their supervisors of I.T. Department whom our target interviewees.
Then our interview session with their IT Department Supervisors has started. After introducing ourselves to them, they also introduced themselves to us. Sir Ian told us the overview of their company. While sir Alex supplemented to what sir Ian has been sharing to us. And we learned a lot from the background of their company. Then, as we already started to talk to them and ask them questions regarding our start-up, we’ve noticed that they were listening attentively. Seemed like they are interested with our idea. After discussing with them our start-up, they gave their feedbacks. Sir Ian said that our idea is good but when it comes to implementation, that would be our challenge. According to him, our system should be paired with the existing automated queueing system of a certain company. And since, CEPALCO has no automation of their queueing system, it would be difficult to implement it. On the other hand, Sir Alex agreed to what sir Ian has told to us. He was emphasizing the constraint on how to sync our system in accordance to the existing system. Because what if our online queueing system served queue number 16, and their manual queueing system also served number 16, then that would be the start of the conflict. But they said that our idea is still possible to be used by their company, only that if their company will designate some personnel to entertained online queueing system reservation to avoid misconception and conflicts among customers and employees. They also suggested us that how about if our system will not be meant for queueing but in terms of appointment in which customers can choose their preferred time and date of their appointment and that would ensure them that they will be entertained.
Based on their comments and suggestions, I guess they are still confused with our proposed start-up but they are interested with our idea. Maybe we should show sample of our interactive system so that, they will understand how our system works. So, in our next interviews, we will be going to present a sample of our system to further explain how and what our start-up should be. And we are looking forward for our proposal presentation to our prospect early adopter which is the Philippine Statistics Authority (PSA) and also, we will also try to conduct interview to companies that already have existing automated queueing systems like NBI and see if our system is appealing to them.
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Closer to Success
Cooperation and strong determination are the fuel of our team. These are the factors that strive us to continue in the development of our start-up to achieve our desired goals. We may hear down sides of our start-up, but these are always partnered with positivity that our start-up is feasible and could be a great impact to the business world.
Last week, we’ve interviewed one of our prospect early adopters, it is the Philippine Statistics Authority. We have talked to their head of I.T. Department, Engr. Roy Difunturom, a licensed Electronics Engineer. During our interview, Engr. Roy was relieved upon hearing the concept of our start-up, since it obviously addresses the problem arising in the condition of their current queueing system. The problem is that some of their clients, don’t have mobile phones. And that’s one major disadvantage of our start-up according to him. But we’ve told him that our start-up is preferably for busy people, such as business men and etc., so we presumed that they are knowledgeable with gadgets. Engr. Roy said that our start-up is possible and for that reason, we must present our start-up to their Regional Director for further discussions. He also mentioned that there is also a possibility that our start-up will be approved by their head.
Right now, we can sense already that our start-up is closer to success. But of course, we are aware already that, the more closer we are to success, the more closer we are to success.
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Focus on Positive
“The only reason your business exists is because you create value for some group of people who are willing to pay for it.” – Rich Schefren
Searching for our prospect customers is never an easy task. Aside from the truth that we’re still students and that some companies do not rely on our explanation since, they need to contact with our superior, in order to book us an appointment for us to conduct an interview. And yes, we understand that. Apart from that, we are still in hesitant when approaching a certain company because we assume that when they hear our concept of start-up, they will certainly love the idea but the implementation is what the problem is. Some companies we’ve interviewed told us that their server is controlled from their main office and that no matter what how indulging our idea is, still the implementation is hard because it needs to undergo due process and the result may take long time. In contrast with what we have heard during our interviews, our team is boosting with positivity. We still be able to laugh and smile even in the verge of tiring long walks and irritating sun’s heat just to arrive to our destination. All of us have eagerness to continue to prosper our start-up and we hope that someday, all our hard works will get positive results.
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Words to Ponder from Entrepreneurs
As young entrepreneurs, we are not yet fully aware on the different whereabouts and ways of handling a start-up. That’s why guidance from experts in business, will truly help us. Realizations do come in our minds on what are the ways to make our start-up be effective and someday succeed.
This week was a privileged for all of us because we have a guest who is Mr. McCorkle, a foreign business man, to listen to us during our presentation. At first, we thought he would not be delighted by the concept of our start-up, but we were surprised because he said we have a brilliant idea and we must talk to him right after our class to discuss more on our start-up. He also said that our idea was a solution to the problem in inconveniency of falling in line in order to get priority numbers on some institution and companies that lack proper queueing system. He suggested some revisions and additions on the features of our start-up. The facial expressions made and words said by Mr. McCorkle somewhat awaken us to continue and do more exploration to build the foundation of our future business.
This week was also our first ever consultation to our mentor and also an entrepreneur, Mr. Bronson. During our consultation, he told us to focus on companies or institutions that don’t have any queueing system to make an impact on our start-up whenever we introduce our product to them. Mr. Bronson also cleared to us our responsibilities to each of our specific roles in our team in order to achieve the outcome we desired for. By that, we are urge to do more and discover ways to fully succeed our start-up.
Words from entrepreneurs provide us guidance in making our start-up be possible. As of now, our team are still on the process on searching ways to improve our system and gather information thru surveying and interviewing companies and institutions that soon to be our future customers.
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Status: “It's Complicated”
The progress of the start-up depends on the people behind it. Convincing your prospect customers is quite hard and challenging. It is simply the reality that people right now won’t get easily be lured. Some may not be contented and get easily discouraged when the proposed project does not meet their expectations. This week was quite challenging for us. We have tried to explain the core of our start-up to the people we interviewed but it seemed like it wasn’t enough. Some said the concept of our start-up is good but in terms of some factors especially the internet, is quite the problem. Since, the Philippines has poor quality of internet. Some also said that our project is good, only that it may cost us much because of some additional factors like we have to include biometrics in order to avoid redundancy in reservations of priority numbers and also include machine learning in order to implement scheduling in queueing in order to notify the user whenever the time of appointment is yet to come. There are positive feedbacks that uplift us but there are also negative feedbacks that somewhat made us worry if what we could do to covered up those lacking factors of our start-up. But there was this certain businessman that we interviewed that aroused our weary spirits. The line he said was “If you’re about to sell that idea of yours, I guess the price would be about millions because the fact that ideas couldn’t be paid”. Upon hearing those words, we seemed shocked and surprised. We were delighted. We realized that even though the concept of our start-up has several factors to consider, the fact that it may cost us much, and may lead to disapproval, there’s still positive outcome that we look forward to.
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The First Move
July 7, 2017- Our official team name and as well as the name of our application was established. It is the iQ (internet queueing system). Our app aims to provide easy access in getting priority numbers in a particular service provider company. As we discussed the objectives of our start-up, we design and create our own BMC (Business Model Canvass) based on our team’s perspectives. Now, in order to formulate hypotheses that can be used as our basis in related to our start-up, our team conducted an interview among random people. Our goal is to gather feedback from people regarding the inconvenience of falling in line just to get a priority number. And gather suggestions from them on how to resolve the problem arising.
The interview was conducted at Limketkai Event Center. The people we interviewed were composed of professionals and some ordinary people that happen to experienced lapses of some particular service provider companies in terms of providing priority numbers. There are some of them said that getting a priority number was very hassle and time consuming. So, we introduced to them our start-up. And they said it sounds good and they are looking forward in the implementation of our start-up for it can be of great help for everyone.
The people we interviewed were the first batch of people that we need to be interviewed for the basis of our start-up. By next week, we are looking forward to hear some feedback among the employees of some service provider company. This venture of ours could be very interesting and exciting.
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REJECTIONS (REPOST- June 18,2017)
Rejection is defined as dismissal or refusal of something. Typically, it describes an instance of a person or entity pushing something away. Rejection can occur in variety of circumstances. A person may refuse a gift. A woman may refuse to accept the feelings or confession of a man. A child who has few friends may feel rejected by peers. A job seeker who was declined by a company may also experience feelings of rejection. Those are some chances where rejection occurs and none of us is an exemption.
Rejections are the most common emotional wound we experience in our daily lives. And because humans desire to socialize, rejections are everywhere. Rejection can be painful. Our risk of rejection depends on the amount of our immediate social circle or dating pools. We are vulnerable to serious and more devastating rejections. It is believed that the feeling of rejection developed as an evolutionary tool to alert a certain person from the risk of being criticized and rejection. Those who were able to avoid or adapt further rejection were more likely to survive, while those who were not able to experience the pain cause by rejection may not have been developed and corrected, thus, making them less likely to survive.
Rejection is inevitable. Whether you like it or not, as long as you’re socializing with people, you will experience it. It may be painful. It may lessen your self-esteem. But when you take rejection as a challenge, sooner or later you will find yourself living better. Yes, it’s true that rejection may incite negative aura, but as you take it with positivity, you may overcome the stress and may result to a better you. The best way to boost your self-esteem is to affirm yourself that you are worthy. People may reject you, but they can’t drag you down.
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The Clash of Ideas
Communication is very essential in our day to day living. Good communication builds strong foundation in every aspect in our lives. It is a key to promote a healthy relationship with our fellow men. That’s why our team practices a healthy communication with equality of exchanging of ideas with each other.
As we further discussed our proposed start-up, which is the Queuing System, we formulated hypotheses on the possible outcomes of it. We argued on the terms and limitations of our start-up. There was a clash of ideas and futuristic results that may affect the company or clients’ point of views. Each of us has its own suggestion on how to implement our proposed solution to the problem that may lead to the effectiveness of service of the company to its clients. There are times when we seem to realized that there are some lacking factors to our perspective clients such as the inability of other clients to have the app or access the internet. Since, our proposed start-up can only be accessed over the internet because it is purely an software based project. The team is still on the process of decision making whether to make a prototype hardware or our queuing system or to continue the online queuing system without having any hardware of it.
Balancing of ideas with case to case possible outcomes of our start-up is what we are still discussing as of this moment. To gradually strengthen our sound decision making, the team decided to interact with our possible and prospect clients of our start-up. So, we agreed to conduct an interview and visit to the companies involved in the inconvenience of providing priority numbers to its clients.
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