techtalkswithdonnah

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💰Pitch Perfect: Mastering the Art of Fundraising in Business

When starting a business, lacking funds can make it impossible to get things running, no matter how promising or great the business idea is. One of the most important things to consider is ensuring that you have enough funds to make it happen. This is why pitching and fundraising are essential keys to starting your business journey. However, pitching and fundraising are not easy. You need to learn and develop strong communication and persuasive skills to succeed. This is because you must capture the attention—and the "golden buzzer"—of investors. Additionally, you must have a solid business plan to ensure that your efforts do not go to waste. Pitching is not just about explaining your product; it also requires you to tell a story. To truly capture the attention of investors, you need to present your idea in a way that eliminates their doubts and makes it hard for them to say no. When pitching, you must answer key questions: Why should investors trust and support your business? How will it generate revenue? And what problem does the product solve? Of course, a great pitch alone is not enough. Fundraising is an entirely different challenge. There are many ways to raise capital, including bootstrapping, angel investors, venture capital, crowdfunding, and even government grants. Each option has its own advantages and risks. For example, bootstrapping gives full control of the business but may limit growth due to a lack of funds. On the other hand, getting investors means giving up some level of ownership but gaining access to valuable resources and networks. Investors don’t invest just because they like the product. They are people who carefully ensure that their investments are worth it and will benefit them. They invest in people. They will evaluate how skilled, knowledgeable, and committed you are, as well as your dedication and passion for starting a business. This is why, pitching and fundraising should be well-prepared. At the end of the day, pitching and fundraising are more than just formal business processes. They test the entrepreneur’s ability to communicate, strategize, and build relationships. Securing funding is tough, and rejection is part of the process. But those who learn from feedback, improve their pitches, and refine their business models increase their chances of success. This is something I find very valuable in technopreneurship—not just having an idea, but having the ability to sell that idea and make it a reality.

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Why Businesses Fail: The Truth Behind Success and Survival in the Market

Did many of you observe why so many businesses fail and wonder about the reason? Or maybe most of us assume that their business is going bankrupt or collapsing. That might be true. But what could be the real reason behind it? Well, I don’t think the products are necessarily bad enough to cause a business to shut down completely. Instead, I believe it’s because business owners don’t take the time to truly understand what consumers want and need, especially in the long run. This is why, in technopreneurship, customer and market validation are crucial. They help entrepreneurs ensure that their business idea is relevant and sustainable before making significant investments. Thanks to Engr. Miriam Bergado for discussing this topic in a YouTube video I watched. I gained valuable insights from it, and I’d like to share some of them with you. I also learned that not everyone will be my customer because not everyone will buy my products. Therefore, I need to have a target market—a specific group of people to whom I will sell my products. It’s important to define the customers’ needs, who they are, and whether the product fits into their lives. This ensures that the business can run successfully for a long time. Other businesses also follow this approach, but they make sure to clearly specify their target audience because it helps them become profitable. However, this can also be risky, especially if the audience is too small. Additionally, some customers may like my product but are not actually willing to buy it. That’s why it’s important to filter out these kinds of people, as relying on their feedback might be misleading. To properly validate your customers, you need to engage with them directly. This means conducting surveys, interviews, or even testing a Minimum Viable Product (MVP)—a basic version of your product that allows you to get real feedback before a full launch. Many businesses fail because they Competition is another major factor. No matter how unique your idea seems, there will always be competitors—direct or indirect. Some businesses succeed not because they have the best product, but because they know how to position themselves effectively in the market. That’s why market validation is more than just proving your idea works—it’s about making sure it can survive and thrive. Competition is another major factor. No matter how unique your idea seems, there will always be competitors—direct or indirect. Some businesses succeed not because they have the best product, but because they know how to position themselves effectively in the market. That’s why market validation is more than just proving your idea works—it’s about making sure it can survive and thrive. From everything I’ve learned, I now understand that technopreneurship is not just about coming up with an idea—it’s about solving a real problem and proving that people will pay for the solution. By researching, testing, and refining the approach, You can reduce risks and increase your chances of building a successful business.

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From Ideas to Impact: The Power of a Strong Value Proposition

No matter how great and big your idea is, if it only stops just like that. It is not enough and it become nonsense. Having an Idea is important but most importantly is what will you do about it, in order to become valuable? this is where value proposition comes in the way.

A value proposition is the unique benefit that a product or service provides to its target customers. It explains why people should choose a particular solution over existing alternatives. For technopreneurs, crafting a strong value proposition is crucial because it helps define their business direction, attract customers, and ensure long-term success.

It is not just about having a product; it is about solving a real problem. Customers will only pay for something if it truly addresses their needs or pain points. For example, many startups fail because they focus too much on the product features rather than the actual value it provides to customers. If a product does not make people’s lives easier, more efficient, or more enjoyable, then it will struggle to gain traction in the market.

There are several key elements to a strong value proposition. First, it must clearly identify the problem that needs to be solved. Second, it should explain the unique solution that the product or service offers. Third, it must highlight the benefits that customers will gain from using it. Lastly, it should communicate why this solution is better than competitors. Without these elements, customers may not fully understand why they should choose a particular product over others.

In technopreneurship, a good value proposition is essential in attracting investors, gaining customers, and building a brand. When launching a startup, having a clear and compelling value proposition makes it easier to explain the business idea to potential backers. Investors want to support businesses that have real potential for growth and can address genuine market needs. Likewise, customers are more likely to support a product if they see its true value.

Understanding value proposition has made me realize that innovation alone is not enough. Even the most advanced technology will fail if it does not serve a purpose. A well-crafted value proposition ensures that a business stays relevant, meets customer needs, and stands out from the competition. As a future entrepreneur, I have learned that success is not just about having an idea—it is about delivering real value to the people who need it most.

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The Power of Talking to Users: Turning Ideas into Impact

It all started with communication, which is the key to determining the issue, finding the answers, and discovering the long-awaited solutions. Communication helps in seeking answers to problems. I am going to share with you what I have understood based on what I’ve watched, entitled "How to Talk to Users and Validating Your Ideas" by Ms. Cherish Delight Mahinay. This will provide ideas for those who aspire to become entrepreneurs or business professionals someday. Talking to users really helps us gain insights and feedback that can be useful in refining our ideas. However, not all answers from users are necessarily helpful, as some might not be entirely honest. Therefore, we need a process or technique to obtain accurate and reliable information based on users' experiences. This ensures we understand real demand and avoid creating products that nobody wants. This is my first time learning about the Mom Test, and I find it extremely helpful for those starting a business. The idea behind this framework is that even your mom cannot lie when you ask the right questions. By conducting interviews properly, we avoid misleading results. Secondly, the video also teaches us five great questions to ask in every user interview. These questions serve as a guide to uncover the real needs of consumers. Thirdly, since we are conducting interviews, we must also be mindful of how we do them. Talking less and listening more, taking notes, asking open-ended questions, avoiding asking for opinions, and following up with why—these are some important tips to remember. Fourth, constructing a value hypothesis is crucial. If our value hypothesis is correct, consumers will seek and pay for our solution; otherwise, it will lead to an opposite result. Fifth, this is where we validate our ideas by following a structured process. It begins with identifying the problem, finding the target market, asking the right questions to target users, analyzing feedback, proposing a solution, testing it with real users, and finally, improving the solution based on real-world data. While this may sound simple, we all know that challenges will arise along the way. However, I am confident that, in the end, taking the risk will be worth it. To put it simply, it is a process with no shortcuts. We must communicate effectively and remember these tips to succeed in our goals. By doing so, we can develop solutions that may turn into innovations that solve real-world problems. Let us not forget that our ideas have the potential to create a significant impact, improving society and benefiting many people.

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Behind Every Innovation is a Great Team

Have you ever questioned why some teams do not work out? And what is the key to why other teams are successful? This is why it is very important to have team formation. If you cannot do it all alone, don't forget that you can make a team. It makes work easier, much faster, and less stressful. Find the right people to join your team and start creating an idea that will make you unstoppable. Team formation plays a vital role in the world of innovation. It is the way of working together, consisting of different individuals with different skills and backgrounds. Formation can lead to a well-structured and organized team, bringing together the creativity of ideas from each person in the team, effective collaboration, a smooth communication process, and problem-solving strategies, ultimately transforming ideas into impactful solutions. In the video, Ms. Rhea Suzette Haguisan tackled team formation, using the Korean drama "Start-Up" as an example to make it easier to understand and much clearer. I could easily relate to the discussion since I had already watched Start-Up. It is about a woman with entrepreneurial dreams and her love story. Ms. Rhea did a great job using this example, as it perfectly fits the topic of team formation. Ms. Rhea shared how to start a team formation. First, you need to define the goal and objective for the team to work towards. Second, you need to get the best people. Take note: don't just hire randomly. Instead, go into the crowd and find the best people whom you feel are fit for the role and whose attitudes can be managed well. Once you find them, keep them. Moreover, team chemistry is important. Third, execution—this is where the implementation of ideas begins. One important factor is having a CEO in the team. The CEO must meet, or at least come close to meeting, the role requirements. He/She must be focused and have the intensity to drive and motivate the team toward a successful journey. After forming the team, the next step is to start building a great product, developing personal connections, fostering a competitive dynamic, and being persistent because persistence leads to great results. In conclusion, the video guides us on how to form a good team because it is the key to creating innovations that help lessen community problems and meet consumer needs. Identifying opportunities and analyzing needs also contribute to positive outcomes.

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Think. Innovate. Create. – My Tech101 Takeaways

What if the key to success is determining what the real problem is and solving it? Just like most successful businessmen and entrepreneurs do, they focus on what needs to be solved. What's the problem that is still ongoing, and what might be the answer to this? This does not only help the businessperson lead to success, but it can also contribute to lessening or getting rid of the problems in our society.

The video that I watched discusses two main topics: opportunity recognition and needs analysis by Mr. Jirby Laniton and starting up in real life: transforming my idea into innovation by Ms. Geisha Gituaban. These concepts help in starting a business and guide entrepreneurs in turning their ideas into innovation.

Part of the first topic that has been discussed is opportunity recognition. It says that it is a process to identify problems that need a solution, emerging trends, and gaps in the market. For example, inside the college, there is no one selling barbecue that is still fresh and hot, and that is why you decided to put this idea into action to fill the gap. This means that as you recognize the opportunity, you will try to study and go for it if there is a higher chance that it will truly solve the problem.

Next is the needs analysis. It is defined as a process of understanding what the customer truly wants. This is where gathering feedback happens—researching customers' pain points and proposing an effective solution to meet their needs. Let's say that in school, students are struggling to find a space or area where they can sleep or take a nap while waiting for their next class because their schedule is separated. So, after collecting the data, the next step is to analyze the findings and propose a solution. Then, we see if it works or not by implementing and evaluating the results. This is how the needs analysis works.

Another topic that has been discussed is startups in real life: transforming ideas into innovation. Well, it is not impossible if we try to do it. Having an idea is not enough because it might go to waste and cannot be retained. By implementing it, we can see the progress and might add some ideas to improve it further. By monitoring and evaluating the result, the possibilities might work. The best thing that could happen is that it will turn into an innovation. Both opportunity recognition and needs analysis can help in starting up a business aimed at success.

It was inspiring to hear those testimonies, as they helped me realize that even simple or crazy ideas can be a good solution to a common problem that people face and can be turned into a business—if we just dive deeper into it, don’t doubt ourselves, and focus on positivity and possibilities. Additionally, there are already agencies here in Cagayan de Oro City that support those who want to start their own businesses.

In conclusion, if you believe that your idea can be helpful, then don't just stop there. Try, implement, monitor, and evaluate the result. Focus on improving it, and don't forget that it is important not just to focus on the services/products themselves but also to understand what the customer truly needs. Recognize the opportunity, analyze the needs of the consumer, and if you already have a full package for your startup business, then go for it. Don't be afraid to take risks—after all, living in this world is already a risk.

[techtalkswithdonnah]

Innovation & Me: A Self-Discovery Journey

Have you ever wondered how innovative you are and what kind of personality you have? What if I told you that you could take an online assessment to find the answers you're looking for? I’m going to share with you two types of tests that I recently took: the Berkeley Innovation Index Test and the 16 Personalities Test. Both of these contribute to self-growth and helped me reflect on myself—what I can improve and what more I can do. These tests enlightened me about myself and even surprised me with the results.

The Berkeley Innovation Index measures a person’s ability to think creatively, take risks, and adapt to change. My Personal Innovation Mindset Level is currently 61.56 out of 100. As I analyzed the results, I found them accurate because my top three highest components are belief, resilience, and diversity, while my lowest component is trust. This made me reflect on my leadership, community work, and personal growth.

Whereas my 16 Personalities Test result shows that I am a Debater type of person. I have always believed that every day is an opportunity and that the world is a playground of possibilities. It may be true that, most of the time, I am ready to challenge ideas and push boundaries.

I do agree with the results, as I know myself to be a positive person who always believes in what I do. I also realized that this may be because I am an independent woman, which explains my strong attitude. Yet, I am still diverse. The only challenge I continue to face is trusting others. Therefore, I want to practice relying on others and building trust, especially when working on project tasks. I also aim to apply my strengths in leadership, particularly as I serve as an SK Chairperson in our barangay.

Overall, this has helped me answer some of my "why's" about myself, especially in understanding how my mind works. It is true that, at times, we may feel not good enough or doubt ourselves. However, these assessments have encouraged me to push forward and strive to do better—with goodness and confidence.