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Entrepreneurial Mind Experience

Kent Jasser L. Durias

If there is two words that comes into my mind when I reminisce the lecture series it is probably the word listen and learn. "Listen" the ability of an individual to hear something with thoughtful attention. "Learn" on the other hand, is to gain or acquire knowledge or skill through listening and experience. In both listening and learning we can all become an entrepreneur; an entrepreneur equiped with the knowledge needed. I am Kent, although I am not ready yet, but I have listened and for sure have learned... A lot.

Engr. Bronson Mabulay, the first speaker in the lecture series, addresses the importance of start-ups in the business ecosystem. Start-ups are the growth catalyst and engine. When innovation and entrepreneurship are combined, a concept can grow into something larger, thus as entrepreneurs, it is beneficial to find government and non-government sectors that can assist our start-ups in terms of investment. Mr. Mabulay highlighted that there are government entities that can assist us in funding our start-ups as well as legalizing and operating the ideas for start-ups.

Furthermore, the second speaker, Mr. Arnel Areglo, emphasizes the importance of having a positive mindset when starting a company. His presentation has helped me visualize the competitiveness of the real corporate world, which is extremely beneficial to me as a student who lacks experience in both the business sector and as an entrepreneur. This lecture emphasizes that "as a response to society's increasing need for entrepreneurs, citizens should be trained to start businesses."

Moreover, the third speaker reinforces the need of intellectual property protection. Because start-ups are new or enhanced concepts of society, it is critical to initially file for patents, copyrights, trademarks, and other rights to ensure that the idea is credited to people who created it. This presentation also highlighted the distribution of commercialization benefits, where it teaches us the numbers on how to divide the economic gains in the commercial exploitation of start-ups as early as today.

In addition, the experience of pitching our own start-up idea to my classmates is somewhat worthwhile. On the demo day, however, the River level detector team did an excellent job of representing the section. I acquired insights and had a good experience listening to other sections' startup ideas.

In conclusion, I have learnt to listen in this experience, and with this experience it provides me knowledge and I hope to apply it anytime soon in the future as a real entrepreneur. I am thankful for a semester filled with fun, learning and experience.

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Compare prices with ComPrice

Kent Jasser L. Durias

Following the completion of our idea with our start-up, the team completed a series of activities to ensure that the market will patronize and use our application. The team has encountered challenges as we validate our market, but we believe that we have done enough interaction with the target market to ensure that we can do the necessary things, such as doing surveys and interviews, sending emails to some local retailers, and developing our prototype.

For the surveys and interviews, we asked several respondents and allowed them to answer a series of questions about whether they have felt the effects of rising commodity prices and whether they are willing to make more informed decisions. Fortunately for us, the majority of respondents have had this experience. Commodity prices are simply too high for them to bear. After reviewing the responses, the team determined that we could create a premium product.

Furthermore, the group issued a letter of request to all small, medium, and large businesses in Bukidnon. We tried to email them to see if they would be willing to provide some information regarding the prices of their items; while we did not obtain any responses from large corporations, we did receive favorable responses from a handful of stores we contacted.

Another project we completed was the digital prototype; it was difficult, time consuming, and a little stressful, but it was a worthwhile experience. We were able to put our editing talents to the test while also showcasing our creativity in developing the prototype. It was quite rewarding, and I had a lot of fun doing it.

In conclusion, the market has a wide range of needs from which we might draw inspiration. However whether the market is willing to utilize the solution we made for them, is up to the hands of the entrepreneurs to work hard and earn the validation of the market. Overall it was a great experience for me and observation about the market never stops.

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DURIAS, Kent Jasser L

HYPOTHESIS:

Inflation has causes great distressed to many consumers. With the increasing value of dollar and weakening value of peso; prices of goods and services are immensely affected. With this incident, many families and individuals have been affected, disabling them to access as many options as possible when buying. In line with this situation, businesses are also harmed by this predicament, leaving them with no choice except to sell at a significantly higher price than before. But what if consumers could download an app that monitors and compares the prices of goods and services from local businesses near them? Customers can choose whatever retailer they want to buy their necessities from. Furthermore businesses can also utilize an opportunity to market and feature their store in our app.

HYPOTHESIS TESTED:

Our group has interviewed a total of forty (40) respondents who provide us information we needed to develop an idea and a solution to their problems. common problems they said to us include the increasing cost of products, proper waste disposal, poverty and more. We asked about problems they usually encounter and asked them if they would download and use an application that can help them lessen their expenses and monitor prices of products in different establishments. We also asked if they are willing to pay for an application like this. Their helpful responses has for sure made us realize an idea.

TEAM'S DECISION:

The team has faced debacle since we found out that our initial idea is not feasible. However our team has regrouped and managed to come up with a better idea that could help consumers lessen their burden in the increasing cost of basic goods they purchase. We decided to launch a mobile application that could help consumers buy their needs and wants in the most cheapest way possible. They just have to download the application and set up an account with an address on it and every time a consumer desires to purchase something they just have to search the name of the product they wanted and with just one click they can have an information in which they can use to compare and make a decision on to which store they want to buy their desired product.

TEAM'S OPTIONS:

The team first decided to pursue a business that would adhere to a rampant environmental issue which is the disposal of plastic materials like water bottles and cellophanes among others. We thought that by converting this plastic into wearable material like T-shirts, socks, face masks, tote bags and more could lessen the plastic waste in the environment and re-purpose it to help make a greener environment. However, upon the pursuit of this endeavor we found out that it is impossible for us to purchase an expensive machine that could convert plastics into fabrics more so in creating our own proto type of a machine that could do the same work. So we decided to let go of this idea since we have faced difficulties in our pricing, and could hinder us from gaining a profit since the cost of realizing this endeavor is something our team cannot afford.

On the contrary, an idea that could help minimize the burden of the most common problems our respondents encounter - the inflation or the increasing cost of goods and services - is much more feasible than the intial idea. We decided to pursue an application that provides consumers the information in which they can use to compare the prices of retailers around their locality. So the team has decided to pursue the second idea since it is achievable and helpful for consumers to overcome this massive increases to basic goods and services.

LESSONS LEARNED:

This activity has given me a better understanding of how opportunities can come from the concerns and problems we face on a daily basis. I've realized that everyone around us is dealing with a problem that an idea can come up and can help us survive on a daily basis. Moreover I have noticed that great entrepreneurs are outstanding observers, critical thinkers, storytellers, and always look at the broader picture. Entrepreneurs work with others, set a good example, communicate in detail, and listen to everyone. And just because we have a concept does not mean it is feasible; it takes substantial research and hard work to completely execute an idea.

DOCUMENTATION:

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KENT JASSER L. DURIAS

PRINTeREST

HYPOTHESIS:

Students with tight schedules are having difficulty adhering to their printed requirements; the only option available is a time-consuming solution of going to the campus market. PRINTeREST is a printing service that provides students, visitors, and everyone else in school with the most convenient printing services while they are resting. Students and everyone at school can upload their files to the internet and choose the time that is most convenient for them to pick up their documents or have them delivered to their respective colleges. There's no need to go to the market, spend a penny on tricycle fare, or walk under the sun on your way to the market, or wait in line and be late for the class just PRINTeREST.

HYPOTHESIS TESTED:

Our group interviewed a total of forty (40) respondents, who provided responses to a variety of problems. We asked them about common problems they face on a daily basis, and they responded with the most common issues they face: tight schedules, difficulty printing documents, long distances between buildings, and time management.

TEAM'S DECISION:

After hearing our interviewees' responses, the group discussed the problems they encountered, and we agreed to come up with an idea that will benefit both our respondents and everyone in the community. So we decided to propose PRINTeREST because, as students, we had difficulty finding a printing business that would provide us with the most convenient, time-saving printing services that we desired. One that will have no lines, no walking, and no need for students to wait for long period of time.

TEAM'S OPTION:

After the interview, the team came up with  two (2) ideas…

The first is PRINTeREST, an online printing service that aims to provide students and others with printing services that allow them to choose when they want to pick up their printed documents or have them delivered to their colleges.

The second is PasaBUY, a food delivery service that delivers food and other items to everyone at school. Many of our respondents found it inconvenient to go to the market and buy food or school supplies. As a result, we devised an idea that serves the best interests of everyone, though it was never pursued by the group because we cannot guarantee that we can buy everything they need because we do not have a flexible schedule as well.

LESSON'S LEARNED:

This activity taught me that opportunities are always around the corner. We only need to ask questions and observe other people in order to create our own opportunity to start a business. Also, rejection occurs frequently; we simply have to allow ourselves to learn and persevere even more. This activity gave me the belief that one day I'd be able to possess a great entrepreneurial mind.

DOCUMENTATION:

#EntrepMind