Top Posts Tagged with #entreprenurialminds

Blog 4: Demo day & pitching experience |GEE 16 course takeaways

The professors of the GEC 16 classes organized a demo pitching, which was an honor to be able to attend. It was incredible to see the participants, coming from a variety of classes, present their bright ideas regarding different businesses. After some reflection, I came to the conclusion that it is indeed the case that our generation possesses creative minds. There is a great deal more that we can contribute to society in a variety of spheres of life. The whole thing was incredible, and I couldn't be happier because our section came in sixth overall. One of the most important things that I've learned from this class is that having an entrepreneurial mindset is important and necessary in today's world. It has the potential to present you with many chances and help you discover new interests and directions in your life. This class is fun to learn. The activity that stands out in my mind is the one in which we have to construct a tower out of sticks and scotch tape as part of a group project. I also particularly like the activity in which we work in pairs. Because it was not an easy game, it demanded that players collaborate and think creatively. It instructs us to pay attention, work together, be observant, place our trust in others, and even accept things as they are. I am aware of the challenging nature of this topic, yet, fortunately for us, we have an instructor who is not only understanding but also beautiful, fashionable, and compassionate. Thank you, ma'am! We are really grateful for the courtesy, concern, time, and effort that you have extended to us. You are in God's eternal blessing, amen.

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Blog 3: Insights from the Series Lecture Program 2023

Personally, the purpose of the Lecture Series Program 2023 that took place on April 19, 2022, at the University Convention Center at CMU and aimed to improve students' educations by teaching us to be tenacious, creative, problem-solving, and collaborative in order to recognize and address challenges was accomplished. The first person to speak on this topic is Dr. Gamaleila A. Dumancas, who discusses intellectual property rights and technology transfer. This refers to the process by which one entrepreneur systematically transfers to another entrepreneur the knowledge required for the production of a product, the execution of a process, or the provision of a service. This knowledge transfer may involve the assignment, licensing, or transfer of intellectual property rights. To put it simply, with the help of the manufacturers, we will be able to materialize the inventive company ideas that we have. Prof. Sheila C. Poonon, the second lecturer, provided additional information on the subject of startup incubation chances, which, as far as I can recall, are a technique of preparing individuals who aspire to launch their own enterprises for the commercial success of those businesses. Attending one of the weekly seminars that they host is a great opportunity for anyone interested in learning more about establishing a business as well as the resources that are accessible to them. The third and last lecture about the startup ecosystem was discussed by Ms. Keren Happuch Lacadin, whose story moved my heart and showed me that it is totally acceptable to fail at business. It is important to have patience, determination, tenacity, and hard work if you want to be successful, since these characteristics will get you closer and closer to your goals over time.

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Blog 2: Validating the hypothesis

• Define your hypothesis The survey's objective is to gather information that will help validate the proposed product that the team has come up with, which is the Nail UV Light. The team's combined hypothesis was that the product is popular, important, and needs to be improved so that it can do what it was made to do. It can help solve problems that people in the target market are having and could be shared with people in the larger market.

• How hypotheses were tested and their results An interview was conducted with all ten of the respondents in order to test the hypotheses. They were questioned in five different categories, including what they see, what they say, what they do, what they hear, and what they think and feel. Through the aggregated responses of the individuals who were interviewed, it was discovered that the manufacturing process for the item, nail UV light, might actually be feasible through the collaboration of specialists, particularly those working in the mechanical and electrical departments. However, they had significant reservations about the viability of the product due to the fact that there are only a handful of beauty salons in the region, and students, who are one of the product's target markets, might not be all that interested in the product because it does not really provide for their day-to-day requirements. Although it can help them and encourage them to have sidelines and businesses that will help them with their daily expenses, the reality is that it is not really a necessity for them to have these things. We are confident that the product is capable of accomplishing its goal.

• What are your team's options and discussions? It is very important to listen to the market, and we came up with the idea that we change the product to one that is more feasible and will be able to address the needs of a larger target market. Some of the team members suggested pushing through the production of the startup product, while others suggested listening to the market. In the end, we all agreed that we needed to make some changes to the product that we were selling as a startup.

• What are the lessons learned by the team?

Being knowledgeable about one's product is of the utmost importance. We should innovate products that are currently popular and cutting-edge in order to gain a competitive advantage in a market where there is a high demand for advancement. In addition, it is essential to the success of the business to pay attention to and carefully take note of the wants and requirements of the target market. The concept is feasible, but before developing a business plan, there are a number of considerations that need to be made.

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Things I have learned so far

As 21st century learners, we have been labeled as innovative, creative, advanced, and operative in this new era. Young adults are capable of starting their own businesses that are feasible for success. The subject of entrepreneurial minds is a subject that helps students cultivate and forge the ability to think realistically and practically in the business world. The developing skills of the students can be a tool for being the catalyst for positive change that can make the industry more thriving.

Entrepreneurship is the process of creating or seizing an opportunity and pursuing it regardless of available resources. The products produced in the market have their own various branding and uniqueness depending on their purpose. Given the existing products and data for specific services, products, apps, etc., there is always room for improvement. To attain such, we, the entrepreneurs, must first have an idea generator process so that we can point out the problems, solutions, business models, and how they would be more advantageous to the customers. One highlight idea I could remember is the distinction between customers and consumers. We can call a customer if he is someone who purchased it regardless of who used it, while the consumer is the one who used it regardless of who bought it.

It would be advantageous to think idealistically in this industry. As time changes, the products that we use today should be improved according to our liking and accessibility. The modern era provides students with a platform to contribute and be entrepreneurs. I find this subject interesting and essential, and I look forward to acquiring more knowledgeable information in this second semester.

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