Oct 2, 2024
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TECHNOPRENUERSHIP
I THANK TECHNOPRENEURSHIP SUBJECT AND TO MS. ANGELIE BETE FOR HER PATIENCE IN ANSWERING TO OUR QUERIES. I'VE LEARNED A LOT THESE PAST 15 WEEKS. THESE LESSONS WILL FOREVER BE EMBEDDED DOWN IN MY BUSINESS CORE ATTITUDE AND SKILLS. <3
Bagahe Padala App [Week 15: Perspectives]
Week 15. The last week for TECHNOPRENUERSHIP and the DEMO day.
This week is presenting the start-up to 3 experts of the start-up field. I can say I am quite nervous when presenting but I was able to shake off those nerves.
This is how the pitch went.
"
I started my pitch with a TRUE story AND SITUATION of an OFW named EMMA SALAN who wanted to surprise her family on arrival from abroad but opted not to because she is afraid of bringing a big bulk of baggage all by herself. So instead of surprising her family, she called her husband to come to pick her up and spoiled her surprise welcome home.
Is it really a problem? Yes, EMMA AND WE SHARE SAME PROBLEM OF LIFTING HEAVY BAGGAGE ALL BY ourselves to the point of we felt like our arms and hand would fall off.
Now, knowing this kind of problem of heavy baggage with no help and with no public transportation at hand. The team discovers solution to the problem.
A ride hailing cab that is available 24/7 where users can choose the riders, hails at the nearest available rider, with hassle free because users can get extra help from the riders. Users will experience safe ride, THAT CAN book anytime anywhere. An app that books today, delivers today.
The BAGAHE PADALA APP and services where users can choose 2 services. Either the book today, delivers today service or the scheduled pickup.
Users can know the rider's location if they chose the delivery. Users’ loved ones can know the user's location by sharing their location using the Global Positioning System.
Riders are part of this start up too. Riders have different user interface that targets easy access. Lists the available bookings and the job offers.
So as the start up is on its formative years, the application will target the people that mostly needed this application for they bring heavy baggage, items and purchases on a regular basis and everyday life cycles. These are the OFW, balikbayans. Travellers and vacationers and the sari-sari store owners.
As we looked into the numbers of the potential market for this app the team sees a great potential for potential users. With a total number of (TAM) these numbers are of the total for the three target customers.
The TAM: 491,925,000 POTENTIAL CUSTOMERS IN THE WHOLE PHILIPPINES
The SAM156,839,466 POTENTIAL CUSTOMERS IN MINDANAO
The SOM: 42,307,608 POTENTIAL CUSTOMERS IN CAGAYAN DE ORO CITY
Seeing the numbers uplifts the team to hope for a chance to make the BAGAHE PADALA APPLICATION survive in the competitive market of ride hailing cab business.
That’s why the team decided to focus the traction : Viral marketing as social media viral stories can hit millions of users in a minute. ZMDC will build a good reputation toward its customers by giving them cheap, hassle free and safe service of transportation that can generate profit to sustain and maintain the start up.
The application is based on the commission revenue model in which the free application will get commission rates of 3 % in every transaction which is the cheapest among the competition. Advertisements following the CPC, CPM, CPV and CPA methods will rack up some profit that will generate Revenue Streams of money.
Now, the greatest competitor we have is the GRAB, because they are already established but we can outdo them by offering riders and customers with cheapest transportation fee with the state of the art app programming and development.
The team is capable of running this start up , employing best programmers that can create the app that the team is hoping for.
ZMDC A dynamic and strategic team with complimentary skills set that will always value customer’s wants over self-indulgence.
If we can have the capital and investment we ask for, in the next 5 years, BAGAHE PADALA APP and services can compete with the other leading competitor. Users tend to value cheap price more. This app will offer cheap, safe yet state of the art service.
As we always go back to the vision of the Team which is valuing the customers above all. Me together with my team will impress the users and customers by an An application that offers transportation with hassle-free ,cheap, and safe transportation ride for all in need.
DROP OFF HEAVY ITEMS AT YOUR DOORSTEP. BOOKS TODAY, DELIVERS TODAY.-- BAGAHE PADALA APPLICATION
"
Update: The comment of the panelist who was assigned to us was to further research and regulate how our app will work. This is a very much appreciated comment as the team wants to proceed with the application development and distribution to the market.
Bagahe Padala App [Week 11: Perspectives]
Math and numbers.
These two words are the main stars for this week. This week we crafted the Bagahe Padala App`s Revenue Model.
Along the process, the team has done a lot of revisions to come up with the perfect revenue model that fits the start up.
ZDMC decided to use the Commission Revenue Model.
Below is our business model. This a linear business model that reaches the goal of generating profit through cheap charging fee and advertisements methods.
A user is charged a fee for each transaction in the commission model. It is by far the most common business strategy for an online marketplace. The marketplace receives a percentage or a fixed fee for its services when the client pays the provider. Either the customer or the consumer might be charged by the platform.
For now, Bagahe Padala App will operate free of charge and we will profit the business by taking commission rates every transaction.
We take 3% commission rate from every transaction which is the cheapest rate among the competitors. Our lowest commission rate could be our competitive advantage among the competing business.
Revenue Streams
We can profit Bagahe Padala App by taking other businesses` advertisements following the CPA, CPV, CPC, and CPM advertisement method. Each click could amount to a corresponding rate.
OUR VARIOUS COMPUTATIONS
TOTAL REVENUE FOR THE ADVERTISEMENT METHODS
We get the total revenue of APP ads by using this formula EX: ₱11.55 (ADS RATES) * 10 est. No of ads = ₱115.50 : ₱1,055.108 (overall total of rates) * 30 (days Fee for Advertisement) = ₱31,653.00
Computation for transportation revenue
Since our computed TAM is 1,000,000 customers, we can assume that number to compute the commission revenue and net revenue.
1,000,000.00(Frequency of customers) * ₱547.66 (riders transportation payment)= ₱547,660,000.00
Computation for founders commission revenue
1,000,000.00(Frequency of customers) * ₱16.94(Founders commission)= ₱16,938,000.00
Computation for Net revenue
₱564,631,653 + ₱31,653,000,000 = ₱564,631,653 - ₱6,502.81 (fees we need to pay)
Total Net Revenue =₱564,635,533.71
LIFETIME AVERAGE OF THE CUSTOMER
LIFETIME CUSTOMER VALUE= AVERAGE VALUE OF SALES * NUMBER OF TRANSACTIONS * LIFETIME /COURSE OF YEARS
LIFETIME CUSTOMER VALUE= 564.00 (Estimated minimum charging fee from Laguindingan to CDO proper ) * 5 (Average number of travel/arrival per year ( Interviewed 10 persons Travellers and OFW)) * 5
LIFETIME CUSTOMER VALUE= Php 14,100
ESTIMATED MINIMUM COST OF TRANSPORTATION FEE FROM LAGUINDINGAN AIRPORT TO CDO PROPER= 564.00
NUMBER OF TRANSACTION PER YEAR BASED LATEST SURVEY = 5 PER YEAR
Average time a customer remains active before they drop off and go “dormant= 5 years
Bagahe Padala App [Week 10: Perspectives]
This week we defined our target customers, its description, how we can address customers' pains, and how we can take advantage of their problems.
Description of the Target Customers
Our inspiration for this start up idea are the OFW's who have been enduring the pains of hauling their heavy baggage and items all alone when they are departing or arriving in their hometowns. My Auntie is an OFW and has been in and out of the country for almost 15 years. One time I asked her if she ever thought of surprising her family of her arrival, she said 'DILI KO KAY KAPOY AKO RA HAKOT SA AKO DALHONON' (' I won't do it because I have to lift all my balikbayan boxes all by myself.')
My conversation with my Aunt made me think, if there is a convenient, safe and cheap ride hailing cab will my Auntie surprise her family? Hence, BAGAHE PADALA APP AND SERVICES will create the way so that my Auntie can finally surprise her family for her next arrival by the year 2024.
The target market of Bagahe Padala App and Services are the OFW/balikbayans, vacationers/travelers and sari-sari store owners who share the same pain of lifting heavy baggage all by themselves with no available public transportations at hand. As we conducted our different rounds of interviews to our potential customers, the customers demanded a cheap, safe, and hassle free transportation experience.
This week is about crafting our start-up competitive advantages among the other competitors. Leverages against other competitors is like our start-up's express ticket to success. It will also make our product the queen of the crop and rack up customers.
Our Competitors are Grab Taxi, Maxim, and Padyak.
Grab is our greatest competitor. The Grab taxi is an established brand and product and has been racking millions of dollars per month including loyal customers. Now the question is, how can we convince our potential customers to use Bagahe Padala App instead of Grab Taxi, Maxim, Padyak.
I've learned a lot this week. This week was like scavenging other competitors' mess and errors and feed from it.
EDGE OF BAGAHE PADALA APP AMONG OTHERS
After we decode what could be done on our App, we thought of ways how we can win our potential customers. Hence, the competitive advantages.
Bagahe Padala is the perfect solution to address the pains of our target customers. Thus, the customers will have a stress-free and baggage-free experience through Bagahe Padala.
• Accurate Map location ( Grab Taxi , Maxim and Padyak users have been complaining about how inaccurate their maps are. Users have been telling these apps for months yet the errors are still persisting. We went to Grab Taxis playstore reviews and there are a lot of instances where customers' addresses are not the one they are inputted. Like-- how this particular customer has to wait for hours for an available transportation. Like-- instead of Taguig , the drop off point for one customer is Pasig. Reading these comments signify that the app is experiencing system glitch. )
• Cheap price for safe and fast delivery ( Maxim users have been complaining about ridiculous charges.Though the price was calculated before the transaction, the users have been feeling the app is overcharging. The users also have been complaining about the verbally abusive riders and the unending error of map location.)
• App translation for Non-english speakers ( This will be our advantage since competitors app
Since one of our target customers are
• Bagahe Padala App follows the Freemium and Premium Model
We can market our product with our value proposition and convenient service for everybody. We can make an appeal by promoting it to social media accounts like Facebook , INSTAGRAM , etc and garner investments by doing pitches to potential partners.
CUSTOMER PROJECTED SALES ( NEXT 5 YEARS)
We dont have the projected sales as we are on the first stage of crafting the app.
But according to our TAM, SAM, AND SOM if ALL OF THE POTENTIAL CUSTOMERS WILL BUY AND USE OUR PRODUCT WE COULD ACCUMULATE AN ESTIMATE Estimated Market = 42,307,608.
PRICING COMPARISON
Our pricing is the cheapest out of the competitors. This could be one of our competitive advantages with Php 42 base fee for 1KM + Php 12 succeeding kilometers. Grab, Maxim and Padyak range their base fee from 44-60 with 14-15 in the succeeding kilometers.
CUSTOMER RATINGS
We can only hypothesize for now because we haven't really launched our start up.
7 out 10 would buy and use Bagahe Padala app and Services according to our surveys. While our competitors which are follows:
According to our random sampling of 10 of Grab users’ reviews, 7 out 10 users are not happy with the application.They said the app USED TO BE GOOD but nowadays it's full of bugs, map location problems, and sometimes does not have available riders, etc.
We conducted a random sampling of 10 of Maxim’s users where 9 out 10 of its users have problems. The users have been complaining about the ridiculously charges, verbally abusive riders, map problems , etc.
According to the App’s reviews, 7 out 10 users have been complaining about the unresponsiveness of the users’ queries and it doesn’t have ‘Tracking' like how the company advertises it, etc.
BAGAHE PADALA APP – “DROP OFF HEAVY ITEMS AND BAGGAGES AT YOUR DOORSTEP. BOOK TODAY, DELIVER TODAY”
Week 7: Perspectives
This week is about storytelling and also getting feedback from our potential market. Feedbacks from customers are important. As an entrepreneur, we wanted to know if we are still on the course of being the solution to the customers' pain. On week 6, ZMDC created an MVP through a video inspired by DropBox MVP. This week we've presented it to people and gathered some essential data.
MVP
We asked these questions after they are done watching the MVP video. What did you understand in the video?
Is it Minimum?
Does our service/app offer minimum service?
Is it Viable?
Is it Pre-mediated or a product?
Does our app is a solution to our customers' problems?
What are your suggestions for the betterment of our app?
We've interviewed three individuals, and gladly those three said that they are willing to use our product if it will come out on the play store. Getting these kinds of words of anticipation is really motivating and keeps from moving. These comments and suggestions will help us craft a well-done prototype and MVP.
Feedback is essential and is a tool that may be used to assist us and also assess our work, as well as how they are seen by others. While employees and students require feedback, it is equally critical for leaders who believe in growth to solicit input, set an example, and serve as an inspiration to others.
Week 6: Perspectives
This week is the crafting of MVP and Low-Fidelity prototypes. This has been the yet most challenging week of technopreneurship. We've done a lot of research and interviews so we could come up with a viable and doable MVP and easy to navigate Low-Fidelity Prototype. LOW-FIDELITY PROTOTYPE
Prototyping is cool and enjoyable to do. Our start-up is an app that needs to be prototyped first to know how it works. Low-fidelity prototypes are frequently made of paper and do not allow users to interact with them. From hand-drawn mock-ups to printouts, there's something for everyone. Low-fidelity sketches should be easier to make in theory. Yes, we've drawn our prototype on paper. Each rectangle (phone frame) is labeled and we also provide legends for clear instructions for those who wanted to see our Low-Fidelity Prototype. We also did the Wireframing that connects each rectangle. It must be done to know the flow or how the navigation works for the app. MVP
Crafting MVP is very tricky because we have to set aside that unnecessary information and just focus on what's important. We've deliberately conducted 2 meetings just to come up with the prototype and MVP. During our research, we read that Dropbox did their very first MVP through a video. Watching their video is fascinating because the computer that the narrator is using was an old version of Microsoft and it wonders me, how do they come up with this solution/service. Though the video is low-quality and doesn't offer a creative presentation, it still provides what the customers needed and what their service could offer. Hence, we felt an overwhelming idea of creating an MVP video. While making the script, we always looked back to these questions: Is it Minimum? Does your service/app offer minimum service? Is it Viable? Is it Pre-mediated or a product? After 3 attempts, we've come up with this script. Our MVP is an animated scene about our customers availing of our Bagahe Padala App. It shows how our app will address the customers' problems.
This is Chrisma, an OFW, This is Jane, an excited traveler. This is Rose, a sari-sari store owner. Chrisma is at the airport waiting for her transportation with a lot of pasalubong. Jane is waiting for her transportation in the terminal carrying a lot of her traveling goods. Rose, is walking to the terminal---bringing her heavy groceries. Chrisma, Jane, and Rose are not friends nor knew each other, but they are experiencing the same pain, and hassle. What is it? It is HEAVY BAGGAGE WITH NO AVAILABLE PUBLIC TRANSPORTATION and they are struggling with it. Thinking about how could escape from this problem. They've got an idea. Chrisma gets her phone and downloaded the Bagahe Padala app, and booked a service. Jane and Rose are also doing the same thing. Jane chose from the available services or courier near her location. and Rose is expecting her transportation in less than 5 minutes. After the transactions and delivery... Chrism arrived at her home 15 minutes early with no hassle. Jane arrived at her exact destination for a cheap payment. Rose and her groceries arrived home in no less than 20 minutes with someone helping her. These three just used the Bagahe Padala app, and yet, they experienced comfort, travel-stress-free, hassle-free transportation at an affordable price. USING BAGAHE PADALA APP IS EASY AS 1 , 2, 3. 1. DOWNLOAD THE APP. 2. REGISTER AS THE CUSTOMER. 3. FILL OUT THE NECESSARY INFORMATION FOR THE JOB ORDER. and. SERVICE IS ON THE WAY, with Less hassle, assist you anytime, and take care of your belongings. BAGAHE PADALA APP AND SERVICES . Dropping off heavy items at your doorstep. Book Today! Deliver Today!
Week3: Perspectives
It is hard to come up with start-up ideas especially ,when there are already tons of start-ups present. But, who knows this startup of ours will boom someday? It was nerve-wracking to be criticized but helpful at the same time. Thanks to the objective inputs from the outside perspective, ZMDC able to pinpoint what start-up idea has the potential in the market and chose BAGAHE PADALA. The comments and suggestions made by ma'am were very effective because we can reassess our ideas. Pondering on which is the best avenue we could take to have a successful start-up is important. I realize that working on something this idealistic offers a lot of stress and brain ransacking. When you are working that addresses something, you should think from the consumers perspective. Like, answer the questions: Is it innovative? How does it address the pain of the customers? How do you take the customers' pain? Will our customers avail this?
ZMDC was able to interview potential target customers of which 100% of the(13) respondents do bulk buying. Only 2 of them have their vehicles to use when buying something. These three words came out when we interviewed the potential target market. HASSLE, HEAVY, and HASSLE.
Hence, here are the consolidated CUSTOMERS' PAIN: H- assle buying in bulk and you don't have own vehicle; A-gony hauling the items on crowded and tight public transportations; S-truggle to go one store to the other; S-ecured place to leave the items unattended is nowhere; L-ifting heavy items with bare hands while shopping; E-xpense triples when you leave items for longer than 1 hour in establishments.
These pains also apply to wholesalers, vacationers, Balikabayans, sari-sari store owners, people who have big things to carry, etc. Identifying the pain of the potential customers enables the team to find ways on addressing the problems. Rather than school compliance, I want this startup would come to be a business in the future. This may sound idealistic but I am hoping that it will survive in the market.
Also, Value Proposition Canva and Business Template: Value Proposition Canva is like the trademark and the identity of the start-up. How our start-up is different from others. Startup like us, can use the Value Proposition Canvas to determine the optimal product-market match. Value Proposition Canvas fosters teamwork by facilitating the knowledge of what additional value is in the eyes of the consumers. Matches between a customer profile and value proposition show a product-market fit, which will boost your odds of success. And, business Template aims to always remind the team its goal and vision.