#TheEntrepreneurialMind

[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!

[katydy]

on the blog

BLOG #4: REFLECTION OF THE LECTURE SERIES

ABOUT THE SERIES: The enlightening lecture series delves into two realms of today's dynamic business landscape. The series, featuring esteemed speakers, aims to unravel the complexities surrounding Intellectual Property Rights and Technology Transfer, while also exploring the intricacies of the startup ecosystem, and the inspiring journey of a socially impactful startup.

LECTURE 1: INTELLECTUAL PROPERTY RIGHTS AND TECHNOLOGY TRANSFER Resource Speaker: Dr. Gamaliela A. Dumancas

Dr. Dumancas kickstarts the series by delving into the legal foundations of Intellectual Property Rights and Technology transfer. Her talk consisted of three parts: Legal basis, Intellectual Property rights, and the Process of Technology Transfer. She sheds light on the Intellectual Property Code of the Philippines (RA 8293) and the Technology Transfer Act 2009 (RA 1055).

Understanding the 'how' is crucial. It plays a big role when you start transforming an idea into a tangible thing. Dr. Dumancas explained the importance of transforming ideas into tangible products, emphasizing the "First to file" basis. She expounded the nine categories of Intellectual designs, trademarks and service marks, copyright and related rights, layout designs, geographic indications, undisclosed information, and new plant variants.

Ms. Hebra's talk gave me an enlightenment on how property rights give the owner or right holder the ability to do with the property what they choose.

LESSON 2: STARTUP ECOSYSTEM Resource Speaker: Ms. Keren Happuch A. Lacadin

Ms. Lacadin took the spotlight to talk about the Startup Ecosystem. She defines it as a collective of individuals playing varied roles, interacting, and collaborating to nurture and propel startups.

Ms. Tumaroy explored the essential question: Why do startups need the ecosystem? The answer lies in the multifaceted support it provides, ranging from infrastructure and funding to the invaluable aspects of networking and staying updated with the latest trends. For those aspiring to take the journey on the entrepreneurial field, Ms. Lacadin provided insights into how one can take advantage of the startup ecosystem, creating a symbiotic relationship that fosters growth and success.

LECTURE 3: INCUBATION PROGRAM AND OPPURTUNITIES Resource Speacker: Ms. Glyrhiz Marheil A. Tabamo

Ms. Tabamo's specific focus will be generally provide support to early-stage business. These programs offer resources like mentorship, training, networking opportunities, and sometimes even office space to help participating businesses grow and become successful. Ms. Sarausa might be discussing the benefits of these programs for entrepreneurs and the opportunities they provide to turn ideas into reality.

LECTURE 4: START-UP JOURNEY Resources Speaker: Mr. John Ryan Loyloy

In the final leg of the series, Mr. John Ryan Loyloy shares the inspiring journey of Virtualan. This innovative company has a mission: matching companies to people with disabilities through a business model that uplifts individuals out of proverty.

Ms. Canete-Mamugay unfolds the narrative of virtualahan's commitment to social impact, demonstrating how entrepreneurship can be a force for positive change.

[sanciapasok]

INKPRINT VENDOPRO: IT'S A WRAP!

Like how autumn and relationships come to end in this approaching winter, this business venture journey comes to a close; to face another season ahead.

The last few weeks have not been easy. It was the weeks of revision, multiple product validation, and application of the things we learned from our Entrepreneurial Mind subject so far. In our final pitching, we produced the best that we can to give an output that would be qualified and substantial enough to call a ‘business venture’. Yet, the turn of events was never smooth at all. We faced multiple questions, errors, with nothing but embarrassment because we feel like we've never done it right, even after all the weeks and months of effort.

We were slammed with questions we've got no answers to. We came in confident and came out weary. However, we’ve learned from that experience how important it is to mindfully create the financial statements, to surely validate the feasibility of the business as well as the costs, and most importantly, to listen and apply suggestions and advice from mentors.

With those final moments, we've experienced a new type of feeling, but something we will never call ‘failing’. With all the sleepless nights, with all the struggles to make the ends meet, and to face our fears to speak in front of the panelists, makes the frightening final pitching a memorable and worthwhile experience.

It is due to ma'am Lovely being a responsible instructor that we learned how to cope with the aftermaths of our business venture. She, from the very start, has already reminded us how a start-up business requires strong will, determination, and multiple back-up plans until we’re left with nothing. She has taught us what it means to be humble, to persevere, and most importantly the essence of a business that does not only benefit the entrepreneurs but that it should have an impact and should benefit its community. She's a woman of empathy and compassion. We wouldn't have made it this far without her guidance.

Moreover, we believe that in this, we've put our utmost best. It was never as smooth as a marble countertop, and it was not always rainbows and sunshines. We don't always agree with each other’s opinions and ideas, but we have unitedly come to support each other hand in hand, from the crafting of the business title, to the making of PowerPoint presentations. Even in a short span of time, we learned a lot from each other. We learned how to be extra patient, to be understanding of the situations of others, to be open-minded to ideas, and to be cooperative. A goal would be hard to achieve when it's only a hand working. But with the group working together, we are able. It was never easy, but with people you know who got your back, everything feels light and bearable.

Hence, for almost four good months, this Entrepreneurial journey has come to an end. Thank you so much! To God be the Glory.

Insights:

With this journey coming to an end, I have come to realize the things that I should have given more attention to and matters that should be put to a pause to give more attention to more significant situations. We lackednlot of things that we should have knowledge about as business students. We learned that the hard way, unfortunately. But, as students we had a lot of things to do as we also have several subjects to take so maybe we were not able to divide our time equally to be able to cater all our activities as needed. Indeed, time management is essential in our lives, personally or professionally. Regardless of the results, I am proud of our team because despite being clueless of what to do in the beginning of this journey, as most groups, we were able to come this far. Them being understanding and cooperative helped a lot in building our chemistry as a group and supporting each whenever one needs it. Lastly, to our block mates that became our comfort as we are experiencing the same, whether in criticism or compliments from our instructor/s, I am also thankful to them for just simply being there and lifting up the spirit of others whenever they need every end of our presentations. We started this journey with a lot of worry as we are clueless of what to do but we are ending it with a lot of lessons and we thank our instructor for that, Ms. Lovely Tecson, for her guidance and patience towards us until the end. This has been a rough journey with a bit of cupcakes and rainbows but it was definitely worth it. This is Sancia Z. Pasok of InkPrint VendoPro, now signing off.

[iamambitious]

Scanting is the Answer

Most of the students, professors, and owners/managers of SMEs the team spoke with concur that this idea is highly doable. One SME manager I directly spoke with thinks it would be better if there were an app that was comparable to other POS devices but less expensive and easier to use, and we believe Scanting might be the answer. Scanning significantly cuts down on time-consuming, repetitive procedures, and eliminates huge potential for human error. a mobile program that incorporates inventory management software and can scan barcodes. Users can save time and effort by utilizing this functionality. Users can utilize the program to access real-time inventory data and make informed stock management decisions and also it has a special feature that gives professional accounting advice-which most SMEs would love.

Scanting aims to make the inventory management process more efficient and straightforward. This app will correctly count inventory using cutting-edge barcode scanning technology and store information in a database, delivering real-time statistics on stock levels, product movement, and other inventory-related variables. The application will also cut down on the time and effort needed for manual data entry, freeing up staff to concentrate on other tasks. For those SMEs who would want to try out and examine the features and compatibility of the stated program but with restricted functionality, Scanting app offers a 7-day free trial. They can choose to access it with all features after a seven-day trial.

The team is completely aware of the needs of the Small and Medium-sized Enterprises as a result of getting thus far. We all eventually learn the lesson that prior knowledge of our own desires is necessary in order to properly understand what others seek. When you pay attention to what other people have to say, you'll gain a fresh perspective on events that will make you reevaluate your choices and unquestionably direct you toward more wise ones. 

[l-barrientos135]

Hatod Motorela — Revolutionizing Campus Mobility: Our Journey from Problem-Solving to Success

Barrientos Business

Meet and Greet the Person Behind the Business

Lyka Zuluaga Barrientos

Co-Founder, BARRIENTOS Transportation and Firm Industry

How the Business Started:

Title: Unveiling the Journey: My First Business Venture with the Retracting Plant Tent

Introduction: Greetings, fellow readers! Today, I am thrilled to share with you the remarkable journey of my first business venture as a student entrepreneur in the Philippines. In this blog, I will delve into how it all started, our team's hypotheses and goals, the insightful results of surveys and interviews conducted with the target market (farmers in Bukidnon), and the invaluable lessons we learned throughout this entrepreneurial experience.

Chapter 1: Inception and Ideation It all began in the captivating classroom of GEE 16: The Entrepreneurial Mind. With a passion for innovation and a desire to make a positive impact on the farming community, our team set out to address a crucial challenge faced by farmers – protecting their crops from unpredictable weather conditions. We conceptualized the idea of a retracting plant tent, a revolutionary solution that could shield crops from excessive rain, scorching sun, and other adverse elements.

Chapter 2: Hypotheses and Goals Driven by curiosity and a determination to understand our target market, we formulated several hypotheses. Our primary goal was to design a plant tent that would be both practical and affordable for farmers. We hypothesized that by providing an efficient and cost-effective solution, we could enhance crop yields, reduce losses, and ultimately improve the livelihoods of farmers in Bukidnon.

Chapter 3: Surveys and Interviews with Farmers To validate our hypotheses, we embarked on a journey of data collection, conducting surveys and interviews with farmers across Bukidnon. These interactions proved to be invaluable, as they shed light on the challenges faced by these hardworking individuals. We discovered that farmers in the region were often at the mercy of unpredictable weather patterns, leading to significant crop damage and financial losses.

Chapter 4: The Situation of Farmers in Bukidnon Through our interviews, we learned about the unique struggles faced by farmers in Bukidnon. Limited access to financial resources, lack of modern agricultural technologies, and a dearth of affordable crop protection solutions were among the key challenges. We gained a deep appreciation for the resilience and determination displayed by these farmers, despite the numerous obstacles they encountered.

Chapter 5: Insights and Learnings As our research progressed, we encountered valuable insights that transformed our understanding of the problem at hand. We realized that beyond designing an effective retracting plant tent, our venture needed to address the systemic issues faced by farmers in Bukidnon. Financial inclusion, technological accessibility, and educational support emerged as vital components for sustainable agricultural development.

Chapter 6: Conclusion and Next Steps Our entrepreneurial journey in GEE 16 taught us invaluable lessons about empathy, problem-solving, and the significance of community engagement. While our initial hypothesis focused on the retracting plant tent, we discovered that our mission extended far beyond a single product. Our next steps involve collaborating with local stakeholders, government agencies, and NGOs to create a holistic support system for farmers in Bukidnon.

In conclusion, our first business venture was not merely about developing a retracting plant tent, but rather a transformative experience that opened our eyes to the realities faced by farmers in Bukidnon. Armed with newfound knowledge, we are committed to making a lasting impact and contributing to the sustainable growth of the agricultural sector in the Philippines.

Thank you for joining me on this journey, and I invite you to stay tuned for updates as we embark on future entrepreneurial endeavors, fueled by passion, knowledge, and an unwavering commitment to creating positive change.

Author: Lyka Zuluaga Barrientos Date: February 4, 2023

[charlenemaebiolata]

BLOG #2

The past few weeks of February were a rollercoaster ride. Through interviews, the team was able to identify the rampant problems that CMU students had. These prompted the group to have a vision of startup businesses primarily in printing services or in developing a sustainable product for university litters. Nonetheless, the team first suggested the “Tabang” website intervention during the presentation of venture proposals to alleviate the significant student concern of inadequate allowances. Upon taking into account the panel's feedback, the team has firmly decided to switch to a different venture.

In this time and age, the face-to-face conduct of classes has continued. Students from different locations have opted to avail a boarding house or a dormitory for their needed accommodation as they enroll themselves in Central Mindanao University. Despite the comfort of the provided accommodation, the team took the initiative to assess some residents for timely and relevant concerns that they are currently experiencing.

With the team’s passionate attempt of brainstorming ideas from the gathered responses, an idea for another startup business emerged. It is a generated idea of a product that, as a group, we have believed and thought as much more specific, more practical and feasible to venture for the renting students of Central Mindanao University. Upon the conduct of the brainstorming session among the members of this group, we have envisioned paying attention to the prevalent mosquito issue in boarding houses and some college dormitories, as the interviewed renting students of this prestigious university claimed this to be a recurring matter that they experience during their stay.

To validate the to-be-proposed product from our target market, the team has endeavored to conduct another face-to-face interview among the renting students of the university. Prior to the interview, we have hypothesized that all residents in the dormitories and boarding residences around the university experience mosquito-related issues. Another hypothesis made by the team is that all boarding student residents are willing to avail the mosquito trapper product that the group will propose.

The team was able to have a conversation this week through interviews with 28 boarding students who concurred that there is a prevailing existence of mosquitoes in dorms and some boarding residences, which is such a distraction for their studying and most significantly at risk, their health. In line with this, 2 students, particularly from the Mahogany dormitory, hesitated to be potential customers. This enlightened the group that not all dormitories have frequent encounters with mosquitoes, given that windows of some dormitories are enclosed with mesh screens. Nevertheless, 26 of the interviewees, mostly coming from the College Park and Field 1 Residence, have given the affirmation of interest and willingness in purchasing the product as long as it is affordable and true to its claims.

As a result, the team has agreed to push and propose a model that will not use fire and will not emit smoke. It will be a portable, rechargeable mosquito trapper through its suction-capability. The display of a red-orange hue light that researches have tested to be effective in attracting mosquitoes will be its prime feature. The device will attract mosquitoes, which will then be captured for the product’s tray to die. The team also thought of an option in associating the mosquito trapper with a solar power panel to make use of the renewable energy from the sun in times of recharging. Indeed, this will make the product become sustainable, compared to when electricity is the only main source of power. In addition, it is crucial to consider that "katol" may be powerful in eliminating these mosquitoes, however, it is not permitted to be used inside the dorms or boarding residences because once it is left unattended, it could start a fire.

Our previous venture proposal has made us realize that in starting a startup, we should consider different factors. The team should focus on one specific issue that we want to address. Our previous proposal was quite broad and general, therefore we should be more specific. Secondly, we should consider our own limitations and capabilities as students. We discovered that as students, we are constrained and incapable of providing as much because creating something is expensive, and we are not yet competent to do so. Hence, the team must always bear in mind that we need to come up with a startup, which is a rich idea that something small yet scalable at the same time.

As mentioned , as a student we are not really capable of producing a product in terms of financing all the costs covered, however we can provide or generate an idea or a start up plan wherein not only addresses the problems of students but also we as young entrepreneurs can gain profit. Throughout our journey in Entrepreneurship we have encountered challenges and one of them was our first venture proposal was the same with the other group so as a team we decided to change our proposal and came up a portable, rechargeable mosquito trapper through its suction-capability. With that situation I have learned that being flexible and can adjust to any circumstances that may come is essential in making a venture proposal. The fact that , in a short period of time , I was amazed that we manage to switch our proposal from the service called "tabang" to a product named "mosquito trapper". Along the way, I also realized that conducting a face to face interview for validation is much better than interviews done through Google docs and working together can make the work more faster and productive.

DOCUMENTATION

[heyitskiandave]

Fourth is the Last: The Beginning of an End

Upon embarking this journey towards being an entrepreneur, it was always a constant battle between understanding the needs of the people and having the sufficient resources to be able to compensate to these needs the people wants. As an aspirant, one must realize the responsibility an entrepreneur plays in the society which is not being a contributor to the local economy, but also a responder to the pleads of the people.

While approaching the Final Pitching, a series of emotions had surge within us, which mainly includes excitement and anxiety simultaneously. Upon reviewing the comments with our initial pitching and proposal, it was a great reminder for us that we still have a lot to work on. Some of the comments were directed to our finances should be broken down properly, how much profit we should set as a goal to attain within the end of every month, how the product should be advertised, and lastly, how to ensure that the advertisement means that were to be used are to be effective especially in the long run for the business.

With thorough reflection and understanding of these words coming from the panellists, the group once again huddled together and recalibrated new ideas up to the board. Moving on, we talked about what we need to change, improve, and remove in the initial plan for the start-up business. To begin with the final planning of the start-up, the team decided to meet up and assign each one with tasks so that the minimum amount of time for improvisation is attained.

To further elaborate the decided plan, the team had concluded to continue with the variety of foods that were to be provided, the means of the product would be produced, the ingredients that are to be used, and the key resources/partners involved within the start-up. The things that were improved would include the delivery methods that are to be utilized (which is instead of delivering it via walking, we would be using a bicycle to be able to deliver around the campus), the price of the product in generating greater income (where instead of Php 25.00, the price would be set to Php 30.00 to compensate proper ratio of profit to capital), the scope of the business (where instead of covering only the CMU-CON and University Hospital, but also for nearby colleges to cover larger population for possible customers) and the advertisement means (which is to include physical verbal advertisement and not only limited to posters and flyers, and online/ social media). These are the hypothesis definitions that the group has deduced upon total consideration of the deliberation with the panellists.

To test the hypothesis that were raised, the Final Pitching had been looked upon, the team had prepared their intellect, their materials, and their wit to answer the questions possibly thrown by the panellists. At a glance, the product may seem overly used but little do they know they are about to witness something that the university needs; an answer to a problem that each of one overlooks. Here, we presented the totality of our product, from target areas and ingredients to be used to the finances and expenses that are to be taken. Upon assessment, the panellists were thrilled and gave us the validation we need. In this way, hypothesis testing, in its own means, was approved and attained.

With the options that were in the line for the team as well as the decisions that had come along with these options, the team was able to break it down to what the start-up business was meant to be. Each of the team members were very glad and contented with how it all came about. By hearing the pleas and opinions of each, we are able to sum it up to a collective whole. We know, in some little way, we are able to leave something to the panellists and co-aspiring entrepreneurs which is to really be vigilant in looking out for problems, and responsive to those alarming ones especially those who could have a significant effect in the long run. With all of these, the team has finally envisioned to entirety of the business through laying out all the possible options, and picking out the best ones.  

Furthermore, this is not the end. We still had one task to go. This task was the finishing touch to what we’ve worked for in GEE-16, although could be a disguised beginning for an opportunity for us if we are all willing to partake. Upon deciding the theme and overall outcome of the video that we would like to present for our product promotion, we had come back to our roots, where the start-up all began, thus we decided to come up with a heart-warming, mouth-watering, and reality-reflecting video in doing our final project. Here, we showcase our product, its ingredients, its benefits, and its allocation in the university. It shows how our product could play a big role in the university and its people. The complete concept of the video was agreed fairly by the team thus executed was well and properly.  

While the conclusion of our GEE-16 journey almost comes to a close, I have come to realize the true essence of what entrepreneurship really means. It’s not just all about the business nor having a money generator but it is a commitment of a craft made for the benefit and betterment of the community. It is a calling to improvise ideas, provide products, and guide aspirants to become one the future. This is the main reason why deliberation is very vital; to be able to hear the thoughts of the experts and to be able to reflect on what they think needs to be done. Together, consequently, with our passion and drive, a successful business is not far from reach rather it is within the tip of the finger. A dream is never impossible once we put hard work and determination. One just got to believe that he or she is capable of anything, even in the world of entrepreneurs.

[nmdg23]

BLOG 2: STUDYING, ANALYZING, & VALIDATING THE NICHE MARKET

During the past few weeks, the team conducted an initial Market Survey to analyze and investigate potential target markets. This initial Market Survey conducted through a google form is a tool for gathering direct feedback from the identified Target Market to understand better their characteristics, expectations, needs, and requirements. Market Surveys are vital to creating efficient and successful strategies that will be beneficial to develop momentum and launch our start-up, namely' "THE STUD CAFE."

A Target Market or Niche Market is a group of prospective customers to whom our team intends to sell our products and services. As the team identified, they are mainly Central Mindanao University students and staff. However, they are sub-categorized to those that are renting and commuting, especially those that are book lovers and coffee lovers. The team gathered essential data for our target markets by asking them close-ended and open-ended questions. Through the process of synthesizing these answers, the team was able to discover start-up options and formulate important venture decisions. The following are the objective data, selected questions, and narrative responses from a small segment of our target market that the team has interviewed. 

During the initial Market Survey, 95% of the respondents are CMU students, and 5% are school employees. 40% of students are pursuing a doctorate in Veterinary Medicine. 30% of the students are pursuing a bachelor's degree in Nursing. 10% of students are majoring in Biology. 5% of students are pursuing bachelor's degrees in Nutrition and Dietetics. 5% of students are pursuing a BS in Civil Engineering. 5% are BS Finance and Management students. Finally, 5% of the respondents are school staff working as SPMU clerks.

Moreover, the team interviewed respondents ranging from 17 to 40 years old. Respondents aged 17, 18, and 46 years old are only at 1%. While 19-year-old respondents were 15%, 21 years old 20%, and 20 years old at 50%.

90% of the respondents are women, and 10% are men, with an estimated family income ranging from Php 10,000 to Php 50,000 a month. 85% are commuters, and the remaining 15% stay in boarding houses or pad rentals with weekly allowances ranging from Php 700 to Php 3,000.

The demographic data, such as age and gender groups of the target market, are essential to be considered logically because different age and gender groups have different spending habits, product interests, and values. Age and gender segmentation is also integral for the start-up to manufacture products specific to each group. At the same time, the data on estimated family income and a weekly allowance of the target market aids the team in deciding the pricing trends and brainstorming potential products to be added to the initial menu listing. Forecasting the pricing trends will enable the company to calculate estimated prices that are feasible for the consumers and could still generate income revenue for the start-up. Additionally, creating a simple product to outsource and produce based on the preferences of the possible clients is the top priority to maintain customer relationships and sustain the business in the long run.  

In addition, the team asked whether the respondents have any problems finding a safe and comfortable place to study during their vacant time. Out of 20 respondents, 13, or 65%, answered "Yes," while 7, or 35%, responded "No." Most of the respondents answered that they have a problem finding an inclusive place where they can concentrate on studying. This result proves that there is a problem that exists within these areas. A problem that the team's venture wanted to solve. 

When asked whether they had any problems studying in their boarding houses or pad rentals, 11 or 55% of respondents answered "Yes," then the remaining 9 or 45% of respondents answered "No." This result signifies that the student still has problems learning and studying even in their accommodation. Thus, it is crucial to have a separate study area that helps sharpen the mind and improves the concentration of these students. Having a particular study area is preferable to using a bedroom, where they cannot be distracted by external factors, including their roommates and bed.

The team also asked the respondents if they are experiencing problems with the internet connectivity inside the campus, the majority of the respondents which is 18 or 90% percent of the total respondents answered "Yes," and only 2 or 10% answered "No." A massive gap indicates a real problem inside the university regarding internet connectivity. Therefore, not all students have access to a good internet connection. 

However, when the respondents were asked if they wished to have a budget-friendly and convenient space to relax, study and do work, all respondents answered "Yes," giving 100%. This result validated that this business idea is needed in the market. This validation means that when the business launches, potential customers will purchase the products and services that the start-up will offer. 

Lastly, when the respondents are asked what they think of an affordable, student-friendly study hub or cafe near the university's main gate and whether it is a good idea, their answers motivated the team to pursue the business idea. The succeeding statements are the narrative responses of the segment of our target market:

"Yes it would be a good idea, only that internet connectivity and electric power interruptions would prevail. Furthermore, a cubicle type of set up for study hub would be nice to have that conducive place to study and focus."

"I think a study hub is a good idea for students but i think i would change the location to a more appropriate area inside the campus."

"It's a good idea because it might help the students to have a good place to unwind or a place to study where it's quiet."

"I think it was a nice idea so that students will have a comfortable place to study."

"I think it is. As long as it helps the students focus on their studies with a condusive environment."

"Yes, because we need places that allows students to study without any noise disturbances and away from our beds.😴😴😴"

"Yes, it offers comfortable and convenient place for me to study."

In summary, after interviewing our possible clients, the team decided to continue with the original business idea presented during the venture proposal. The team still thinks this would be an excellent business opportunity as a start-up. However, the team reconsidered a few things regarding where the business would be located. The team chose between situating it in Dologon, Maramag Bukidnon, or sticking to the original plan to locate it on the Main Gate. A suggestion also came from our target market, suggesting to find it in an appropriate area inside the campus. Yet, the team still decided to establish it at the Main Gate of the university, considering the foot traffic in the area and its proximity to the national highway. The team also started discussing the infrastructure, the ways to gather investments, strategies to build partnerships, and, more importantly, recognizing requirements and qualifications needed for legal matters (e.g., business permits, accreditations, and building permits) for the upcoming Business Model Canvas Presentation and Pitching. Overall, the team learned how necessary it is to validate business ideas to build strategies and ensure that the business would sell and be successful. This way, the risks would be mitigated and give the start-up business a stronger foundation. 

Nicksen Marc D. Galecia, BSN2B

[ariellevia]

blog 1. the entrepreneurial mind week one ♡

Introduction

We started off the first week of our midyear classes learning about entrepreneurship. Our teacher discussed and defined it as the process of creating an opportunity and pursuing it regardless of the resources available and resources controlled. She also discussed the types of startups in the market today and the different misconceptions we encounter as students with no background in entrepreneurship.

Honestly, I don't exert much on minor subjects because I feel I like I have to prioritize my Accounting subjects or else I'll fail. Surprisingly, this subject piqued my interest even though I initially had no plans in engaging things related to business and entrepreneurship because I know it takes a lot of brainstorming to do so. As I listened to my teacher, I proved myself right when I realized that entrepreneurship is undoubtedly challenging. People learn only when they actually try to do it. This field is not a linear path. It takes a lot of trial and errors. You don't become successful in just one go. And it's a lot more complex that I thought.

Still, I'm starting to like this subject and I certainly like the way it challenges me.

– arielle gurrea, accy2 ♡

[lawly-23]

V A L I D A T I O N

CONFIDENCE BOOSTED!😍✨

A long and tiring week! What a week!😵‍💫

In this blog, I would like to emphasize the hard work and determination of my group for the successful interviews with certain individuals from the campus and their participation.  

Although it was a tiring week, we still have to persevere in order for our product to improve. And by this, we selected certain individuals from the campus, specifically the students of Central Mindanao University. In order to get validation from potential customers for our website that caters to services, We interviewed them thoroughly. My team constructed an hypothesis, and that is "We reckon majority of the students in this institution struggles financially." And fortunately, the majority of them struggle financially; some of them are willing to make use of their talents and skills in order to meet their financial needs. We have gained a lot of insights about their problems, perceptions, and struggles. So, we came up with an idea to strengthen our service with some of their insights.  🧠🤯

And as a team, we ask ourselves, We need to decide if we should continue with our product or not, because in the previous week there were uncertainties that we faced, such as switching our service to the banana wax or persisting with the latter. But our faith was strong, and our passion was burning ablaze. So we continue to proceed and improve our service website. 😌♥️

There were a lot of options that we assessed, and for each option that we grasped, we should have an intensive evaluation that should be met. Options that need to be assessed one after the other. Until we come up with the option of making our service both user-friendly and engaging. We incorporate monetary and service into our website, and we also include the students' talents and skills in the making. To provide each of these features, we brainstormed and fabricated ideas to build a stronger foundation to make our service website productive. 🤯✨

There were many lessons that we learned during the span of a week.

We learned that tenacity amidst adversity really has impacted our faith and determination, driven by the passion that is burning inside our hearts.

We also learned that we shouldn't focus more on the product than the customer itself. Because what is a good product without a customer? We are really in great gratitude for the insights of the others and also for the realizations that we have made during this activity, "customer validation." It was truly a grateful experience, grateful beyond words!🫶🏻✨

#Blog2

#TheEntrepreneurialMind

[rashaojy]

Something Unforgettable

This lesson taught me a lot from defining opportunities to generating ideas that could expand my knowledge in starting a business. I learned how to simply identify which is more effective, assuring and useful in sustaining ideas from different perspectives.

I learned that there are essential qualities of an opportunity namely; attractive, timely, durable and can add value to buyers and end users which I can use as someone who wants to enhance her entrepreneurial mind and most specifically as an office administration student. I realized that it's a must to know those things so I wouldn't waste my time in taking risks for uncertain matters especially in running a business.

Aside from that, I also learned the ways on how to identify an opportunity which are observing trends, solving problems and finding gaps in the marketplace. Observing trends is significant because it guides us to the opportunities that we can pursue in improving our business. And in terms of generating ideas into reality, I learned that we have to make sure that our product could solve a relevant problem. It must contribute change and usefulness to our community and to the whole world in general. Lastly, I learned that aside from those two approaches, we also need to find the gaps in the marketplace to create our own uniqueness against our competitors.

As someone who practices entrepreneurial mind, it's a must to build your own product so that no one can beat nor compete with your business in the marketplace. 

Moreover, Teacher Mary clearly taught me that shyness will bring nothing to us. We can't prosper in life if we keep on allowing ourselves not to go out of the shell. Hence, the personal characteristics of an entrepreneur truly gave an impact into the perception that I used to adopt.

As future entrepreneurs, we should harness our prior experiences for it will teach us how to ponder with our own mistakes. I also learned the significance of social networks and connections in this particular field since a business would only grow if the owner will build good relationships and bond towards other people. Also, an idea could be improved if we develop our cognitive skills or known as the "sixth sense". We have to empower our mind to easily figure out the opportunities that will come. And also, I learned the essence of creativity in all things. Being creative allows us to go beyond what we think is impossible. It gives us a way that could reflect an art into reality which is highly dominant and effective in this generation.

Above all, I'm thankful that I learned not only the topics but also the fact that Teacher Mary and all of us are manifesting one thing at the end of the day and that's to learn and teach something that could empower our entrepreneurial mind. And that's something unforgettable for me.

#secondblog

#opportunityrecognitionandideageneration

#theentrepreneurialmind

[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!

[birthofentrepreneurialmind]

Entrepreneurs really fuels and runs the whole world. They are the focal point why the economy existed at first. This is why to be an entrepreneur is to have a bright and creative mind. Most entrepreneurs are deviants, they think outside the box and defy what is the world is currently doing. Even the meaning of startup is an act of rebellion. Startups are the most common career paths that a developer might take.

As a young developer and a music producer, my path in life is really intertwined of being an entrepreneur. I am currently freelancing and producing for a music home studio, and we are doing our best to make it a legit business. As of now me and my friends are actually thinking of creating a business, building a company, investing in stocks, and buying crypto currency. Thus, the lessons about opportunity recognition are very useful to me and close to my heart like, the idea generation process and target area or markets.

During these past few months, I have learned that being a successful entrepreneur should have certain behavior patterns like, being a good communicator, very trustful to other people, being fair, persistent, being a role model, very social, and most of all having faith in oneself. These aspects make up a good entrepreneur and it is what I aspire to be. Also being very observant and sensitive around your environment is a great asset to be a successful entrepreneur. Like the thing we did on our music home studio, we notice that there are many talented and underrated artist who can write very beautiful songs but don’t have the means to record their songs professionally, leaving them stuck in their craft and unnoticed to world. That is what we did seeking problems and opportunities on our environment is our main goal and solving it to make everyone’s life a little bit more painless.

Now, due to the current situation of the world. Connecting with people in person is not advisable, especially when you’re from different places. Thus, the classes are set online. Discussions and the transactions of getting modules, quizzes, home works, and other class materials are given through the internet.  That is why meeting with my entrepreneurial team is fairly hard because of different schedules and places. We don’t even have an actual discussion or a group photo.

All in all, these new knowledge help give birth to an entrepreneurial mind and it will grow further as I mature and evolve. I find passion through innovation and I like throwing my ideas into the world, this is the only time I feel like my true self. As Kevin Abstract of BROCKHAMPTON fame said, “We find a little bit of ourselves in everything that we like”.

[istelya]

Since the outbreak of COVID 19 in the Philippines or any part of the country, Classes have been suspended and ended online to ensure the safety of the students. As we start our new normal in this pandemic, we also started our 1st semester in my 2nd-year college using online class and its flat form as a new normal to hold classes. Google Classroom & Meet and Facebook were used as a mode of communications we use to send files, assignments, meetings, and many more.

The Course GEE 16 – The Entrepreneurial Mind was the first subject to confirm its schedule of class meetings in google meet and on Facebook live among my other subjects. When there is new, I’m always anticipating because this is my first time I experienced virtual face to face classes using google meet and I’m also afraid at the same time because of what will be the effect of having an online class to our grades and learning.

Theories of entrepreneurship were being discussed. According to Joseph Schumpeter, he explained that economic growth is started by people who called themselves entrepreneurs. They produce goods for everyone and find joy and self-fulfillment in gettings things done and have a strong need for achievement. They serve as the backbone of the economy.

As the world is changing and involving, the kind of entrepreneurship, we will be having is not like the same as we experienced in the senior high school. This course aims for the growth and global that can make or propose a change in traditional businesses. The type of entrepreneurship that thus course want venture is what we called technopreneurship, where science and technology-based, scalable, and can have an impact on the economy since most of us have and use technology. In the second meeting, we were task group ourselves into 5 members and give us an assignment to evaluate our self to know of what type of members we want to group ourselves. She give us the link 👇. We use to test or evaluate ourselves.

Our instructor has given us the task and instructions of what we will do throughout the semester.

As the discussion continued, I learned that being an entrepreneur is easy but difficult in the long run. It always requires the skills, strategies, and much more to come up with a solution to every problem and not be a burden to others. I learned that as an entrepreneur we must find the problem and find the effective and efficient solution to the problem. The solution may make you fail but we mustn’t take ourselves as a failure, but must learn from it. It is the risk that we take as an entrepreneur. I learned that everyone can be an entrepreneur and can propose changes. As an entrepreneur, one must keep innovating and creating new ideas and can start a business as long as they have the resources and ability.

Our instructor said that this may be the difficult course will take but this will be the most fun. I must ready myself to face difficulties and handle the kind of roller-coaster emotions I will have in this course. This is Estella and this is only the start of our technopreneurship journey. I hope everyone is Safe and Godbless. Thank you for reading.

Note:The first 2 image is the screenshot during our live discussions in Facebook and the last image is the result of evaluation.

[sylvester29]

 Entrepreneurship is the process of starting and growing a business, with the goal of bringing something new or improved to the market or organizing the means of production. It is important because it has the potential, not only for entrepreneurs, but also for related companies, to raise living standards and generate wealth. Entrepreneurs also help drive innovation shift, where new and improved products allow the growth of new markets.

I learned that being an entrepreneur is being aware of what is happening around, to know about the current situations that may be positive or negative, that would help to solve a problem, that would lead to an innovation of something good. I also learned that even though I am still a student, I can be an entrepreneur. There is a big opportunity out there, and it’s waiting for me. It is not necessary what course that I am in right now because anyone can be an entrepreneur, YOU CAN BE AN ENTREPRENEUR. Setting goals will help us to be successful someday, but on the other side failure will always be at our side, and it may happen anytime and anywhere. But as what Woody Allen said, I quote “If you're not failing every now and again, it's a sign you're not doing anything very innovative.” 

There are many opportunities of being an entrepreneur. It’s just a matter of mind-set on how to be one.

[charlenemaebiolata]

Blog #1

As the recent global health crises gradually became less intense or severe than before, the advent of returning to traditional learning has been practiced nowadays. Professors in universities have conducted face-to-face classes, and students can now attend to learn and continue their education. In line with this, during the first week, the students belonging to this group decided to divide into two portions with the aim of gathering diverse respondents from the premises of Central Mindanao University, including the students, tricycle drivers, and security guards, for a greater range of the encountered problems. The team conducted eight interviews and distributed online surveys regarding their different personal inconveniences, which garnered 82 responses from the people at CMU.

From the gathered data, several issues have been identified that need to be addressed. The team made a few selections, such as creating a venture that primarily focuses on printing services since their stations are distant from college buildings, making it a problem for students. Another choice was to innovate a sustainable product that could help lessen scattered garbage since trash bins are quite limited around the campus. Nonetheless, it can be indicated that the need for allowances among students remains timely and significant in the present time, given the existing inflation in food prices from various markets. As fellow students, we share the same sentiments, hence understanding them, especially since we have fees to pay, daily food expenses to budget, and school necessities to buy. Due to these circumstances, as a team, we attempted to create an intervention to alleviate this relevant concern of students.

To solve these problems, the team devised a website called "Tabang." Tabang is an accessible website for students, faculties, and any residents of the university. It specifically aims to help students earn money while accepting tasks that are posted by either faculty or other students. Students can work and earn money with jobs that are convenient to their schedules, especially since they also have to prioritize good academic performance. The work to be posted on the website is not limited to cleaning assistance; it also includes delivery orders around the university, printing orders, paperwork assistance, and some additional tasks that do not require a professional license to perform. This website will be tested to see if it will be beneficial to the users in alleviating their problems. When it comes to profit, the team has come up with the idea of giving free trials until one successful transaction is made. After that, for the users to obtain continued access to the website, an accompanying two percentage charge for every transaction that follows will be implemented. The team will ask for 2% of both the so-called employer and employee as compensation for our facilitation service in their every successful transaction. We will only ask for 2% to make it friendlier since the main problem for the student users is allowance.

Furthermore, the entire team learned to work in association with each other for this venture. We realized the value of decision-making as a whole, with a concrete aim of achieving our planned ideas and objectives. Consistent efforts must be exerted in both the minds and actions of the group members. Additionally, we also learned that we need to bear in mind that our acts of brainstorming will always lead to a more productive outcome and a widened perspective, resulting in various possible solutions.

Personally, I find it challenging to ask random people of various ages when conducting interviews, especially in-person ones. I've seen that everyone has their own beliefs and viewpoints, and how they perceive and evaluate their surroundings varies. As students, like the majority of those we interviewed, we attempted to comprehend their situation from their point of view which served as our inspiration for developing a solution. We came up with a strategy and suggested a website service called "Tabang" that tries to discover or finds support and offer help and assistance to individuals in need in order to address their main issue, which is the lack of allowances. The fact that the team came up such an idea I am amazed that even a student has a capability to think objectively or make a start-up that can be beneficial to everyone. Moreover, at the end of the things we have done together such as brainstorming, conducting interviews, planning, presenting, as well as writing this blog together I have observed that an individual both has its weakness and strength in specific fields. Knowing the strengths and weaknesses of my other group members helped me to recognize that both my strengths and weaknesses may be the other person's strengths. Throughout the time we spent together, I have seen that we fill each other's shortcomings. Also, there will be a times that the team will be tested by critics and pressure but if we work as one it will always lead to a productive outcome.

Documentation