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.
