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Startup Journey

Welcome to the world of entrepreneurs!

Let’s evaluate the learning that I learn in two weeks.

Doing things that don’t scale,

I learned about establishing the minimum viable product which a version of a product with just enough features to be usable by early customers who can then provide feedback for future product development,  build- measure- learn loop a technique that helps you to realize when you've got things wrong, before it's too late to turn initial failure into eventual success, collect validated learning for problem-solution fit, it starts off with exploring the customer segments, validating there is a real problem and deciding on a solution. The second phase starts with validating this solution offer and optimize this into something that a lot of people will actually use, and more importantly, pay for.

About Pitching and Fundraising.

If you’re raising money for your business, having an impressive pitch deck is a key component of your fundraising toolkit. A great pitch deck gets potential investors excited about your idea and engages them in a conversation about your business, hopefully leading to an investment.

For pitching, must find a co-founder and the share pitching idea that cope in mind. Usually who pitching is the family and friends to support the activity that makes? Pitching is something like pitching the idea. It has three ways to pitch, the elevator pitch which pitch to investors in one to two minute, short form pitch which has 3 to 10 minute pitching, and long form pitch that has formal pitching that tells the investors everything they need to know about5 the business, it was for about 20 minutes.

I also learned about pitching deck components, first is the problem which identified if the startup that made can cause a problem or solve the problem. I think the startup that my groupmates make can solve the problem. Next is the solution, which questions on what is the solution of our problem for example our problem is the depression and well-being of a person and our solution is the business that we made which is a tea that can reduce stressed and depression. Third is the product, how does it work and the secret to grow it larger. Fourth is the target market, need to show that your startup is a big market that places value on the solution.

I learned why startup need to raise funds because startup needs to raise funds for success. The reason is to rent an office for their startup, purchase some equipment and office supplies, and for hiring a staff to help. The most important reason why a startup needs to raise funds is to grow fast. The sources of funds first are the founders which are the one who builds the startup. In the founders bootstrapping are some of the elements which mean that came from the owner. An individual is said to be bootstrapping when they attempt to found and build a company from personal finances or the operating revenues of the new company. Bootstrapping also describes a procedure used to calculate the zero-coupon yield curve from market figures. The second is family, friends, and fools. The third is the angel investors, examples are individual’s people that have money. An example is a retired doctor who has a pension, in short, individual investors that have money on their own. Fourth, is the venture capitalist, a group of investors which fund greater than angel investor because they are a group of people who share their funds? Fifth, the public investor or the stock market.

Founders should stop seeing their product as their babies rather focus on goal. To gain most amount of validated learning in the shortest amount of time.

What do investors on? It is for traction which is the customer adoption, for big market size which is the opportunity and product-market fit, and for the team which is the founder’s story and reputation.

As for the startup that made by our team, it is kind of hard because we made it through online because we cannot be in face to face. The first step in our startup journey is to find the right idea. Once we have figured out what we want to do, research the market and the opportunities for growth is a must. The next step is to validate idea and test the assumptions. Depending on the outcome of validation either we continue in the same direction. I hope our startup continue and grow fast.  

[timelymanner]

ENTREP JOURNEY- STARTUP

Welcome to the world of entrepreneurs!

I used to adopt the things that made me more knowledgeable about the business world.  And here I am discussing what I’ve learned in the two lecture series.

For series 1, which is all about “The Startup Ecosystem in the Philippines and Why Do You Need to Start Now”.  I learned that we need to have a constant idea and have the ability to understand what is startups or business ideas. A startup is an early-stage business and has a level of uncertainty behind it is a product or service that immediately solves a known problem through new ways. So as we think about a startup, it is new and then tries to create a business out of it.  I learned that if you want to create a startup, you have to think of other ways if what is common or not a normal way to create a business. Technically startups can change lives and it can disrupt our ways of life. Some perfect examples of startups would be the grab and spaceX which have an initial public offering. And when the founders have stopped offering,  the product has been sold, and the company has offered a portion to the public, it is the scenario if the startup stops becoming a startup. I also learned that a startup can fail it was not good. Creating a startup need too much capital and pose an uncertain risk. Startup ecosystem some of this was anchored toward several institutions and provides some talents, they just need some support to make it out.

For series 2, which is all about “The Technological Business Incubation in which promising teams and Startup ventures can get into and prepare themselves for the world, and the startup journey”.  The meet was all about the startup journey, first is the startup journey of “Ehatid” and it was going well. They just have the idea of a concept of grocery startup, which they partnering in different stores only in Cagayan de Oro City. In his journey, he starts with his curiosity and a prior idea. His journey was not going well until he and his staff were tried their best to make their business went well and it was kind of successful. I learned that making your startup is not easy, we must have a strong determination and vision to make it possible. Take a risk and make it calculated. Don’t be afraid to fail, you must be afraid if you won't try.

The next is a TBI, which is a technology business incubator focused on supporting startups that use modern technologies as the primary means of innovation and business development services are provided. For would-be technology entrepreneurs and start-ups, DOST-funded TBIs offer office space as well as technical services and facilities to get their business established.. There are 30 TBI in the Philippines and one of them is a CDO B.I.T.E.S. A lot of startups are made every day and a lot of them are also fail just because they have no proper idea, making a product that does not solve anything, and have bad teams particularly if you and your teams are not in the same vision.  I learned that TBI makes a newcomer startup to be ready for their ideas.

The market is very into tech and has a large local market that is yet to be tapped because we are western minded. Anyone is capable of creating a startup.

“Don’t worry about failure; you only have to be right once.”

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Captions some the following respondents via messenger. Their response if they prefer drinking a tea or not.  

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Our team option in my last blog is the clitoria ternatea or most commonly known as blue ternate. Peso wifi vending machine is very costly, so we proposed another business the Biotea, a tea for life.

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Many said that starting a business is hard and many businesses won’t get off the ground. And many won’t be profitability for years.

While discussing in my team about what is the profitable business that we can build during this pandemic, the wifi vending machine is the one that they suggested. Though it can help to the student through the fast access to the internet, it also have a negative impact. We have a potential target customers that we interviewed, and most of them majority answered yes. The said interviewed can be seen in the pictures.

It’s much harder than you could have imagined. It pushes you to dig deeper and deal with failure along the way, but it helps you grow in other areas of your life. Dealing with the struggle teaches you how to get through the harder things you’ll face in life. Focus on why started a busines, and figure out a way to make things work.

[timelymanner]

Welcome to the world of entrepreneurs!

I used to be silly, I want to be successful and make my own money. Building my own business may been grueling, exciting, inspiring, and exhausting. To adopt this characters, I used to remember why I started.

The entrepreneurial mind taught me to be a better entrepreneur someday who starts a business and is willing to risk a loss to make money. They taught the most trend type of entrepreneurship nowadays, which is the technopreneurship. Technopreneurship is combined with growth and global entrepreneurship. When it comes to trading, technopreneurship improved the process by allowing companies to provide better means to buy and sell their product, services, and information. As far as business processes go, they allowed companies to run their business process electronically through the internet. We cannot deny the fact that this kind of business is already a trend in the Philippines and also to the other country. And people love it because the process may be faster and relaxing as well. Some of the examples that most people access are shopee, which I love because of the nature that it has, Lazada,  grab, etc. It is someone who perceives an opportunity and creates an organization to pursue it. They also tackled the small business and mainstream type of entrepreneurship, however this is not the key point of the topic. They said that I can also use this kind of business but not in a broadway. I can be an entrepreneur, who organizes and operates a business venture and assumes much of the associated risk while I can also be a technopreneur an entrepreneur which used technology for business.    

My mind is aching, I cannot choose the right path that I want, I want to be a successful businesswoman if ever I cannot proceed to medicine. I want to build my own business. What would be the right path? What should I choose?

And now, my mind is relaxing because they taught me the choices between being an intrapreneur and entrepreneur. I can be an intrapreneur, who works on developing new ideas and products within the confines of the business that they already work at. It should be more appealing because I can allow myself to form new ideas, products, and business goals without taking on the risk. I can also be an entrepreneur, who designs, launches, and manages a new business that almost starts as a small business. It is too risky, I create my designs and launch a business take on the majority that maybe it would fail, but there is no easy way in this word, so maybe let me try this one. If ever it will be successful in the market, I will consider myself as an innovator.

As I read some magazines about the business world, to become successful in your business you must have this trait: leadership, adaptability, and intelligence.

Success in entrepreneurship isn’t just about your idea or your money. Plenty of people have interesting ideas or a lot of cash to throw around and they never quite manage to find success in their venture. And I hope that I can be one of them someday.

Let’s go back to the topic that taught. They said that it cannot be taught prescriptively like other subjects, maybe this field is hard as I thought. But I am more thankful and blessed.    

[timelymanner]

Welcome to the world of entrepreneurs!

I used to be silly, I want to be successful and make my own money. Building my own business may been grueling, exciting, inspiring, and exhausting. To adopt this characters, I used to remember why I started.

The entrepreneurial mind taught me to be a better entrepreneur someday who starts a business and is willing to risk a loss to make money. They taught the most trend type of entrepreneurship nowadays, which is the technopreneurship. Technopreneurship is combined with growth and global entrepreneurship. When it comes to trading, technopreneurship improved the process by allowing companies to provide better means to buy and sell their product, services, and information. As far as business processes go, they allowed companies to run their business process electronically through the internet. We cannot deny the fact that this kind of business is already a trend in the Philippines and also to the other country. And people love it because the process may be faster and relaxing as well. Some of the examples that most people access are shopee, which I love because of the nature that it has, Lazada,  grab, etc. It is someone who perceives an opportunity and creates an organization to pursue it. They also tackled the small business and mainstream type of entrepreneurship, however this is not the key point of the topic. They said that I can also use this kind of business but not in a broadway. I can be an entrepreneur, who organizes and operates a business venture and assumes much of the associated risk while I can also be a technopreneur an entrepreneur which used technology for business.    

My mind is aching, I cannot choose the right path that I want, I want to be a successful businesswoman if ever I cannot proceed to medicine. I want to build my own business. What would be the right path? What should I choose?

 And now, my mind is relaxing because they taught me the choices between being an intrapreneur and entrepreneur. I can be an intrapreneur, who works on developing new ideas and products within the confines of the business that they already work at. It should be more appealing because I can allow myself to form new ideas, products, and business goals without taking on the risk. I can also be an entrepreneur, who designs, launches, and manages a new business that almost starts as a small business. It is too risky, I create my designs and launch a business take on the majority that maybe it would fail, but there is no easy way in this word, so maybe let me try this one. If ever it will be successful in the market, I will consider myself as an innovator.

As I read some magazines about the business world, to become successful in your business you must have this trait: leadership, adaptability, and intelligence.

Success in entrepreneurship isn’t just about your idea or your money. Plenty of people have interesting ideas or a lot of cash to throw around and they never quite manage to find success in their venture. And I hope that I can be one of them someday.

Let’s go back to the topic that taught. They said that it cannot be taught prescriptively like other subjects, maybe this field is hard as I thought. But I am more thankful and blessed.