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.












