#entreprenurse

During our validation in the CMU-Office of Student Affairs (CMU-OSA), we were granted the opportunity to interview one of the staffs regarding our start-up. From there, we were able to gather important information that served as the primary basis of the key features that we included in our app called “Nomads”— a home finder app.

However, despite the comprehensive information gathered from our interviewee, she had to refer us to the Housing Committee of the university administration for further clarification regarding some of our queries. She also stated that it is impossible to make appointment to the Housing Committee heads as of that moment since the faculty and staff were out of the country for an important business together with the university president.

Furthermore, we are still grateful for the opportunity to interview one of the heads from the OSA. We were able to confirm that indeed, one of the primary concerns of the students is the difficulty in finding a suitable place to stay. Even the staffs at the OSA are also receiving various feedbacks regarding the student-housing system of the university.

Our “trip” to OSA led us to include the e-payment feature on our app in which students don’t have to line for hours in the cashier just to pay for their rent. This was also the key to sustainable app usage. Since students will be able to utilize the app, not just during boarding in, but as well as monthly for their rent payment. In conclusion, our validation in the OSA had immensely improved our understanding towards the problem we are trying to solve, as well as broaden our perspective in developing the envisioned solution for a better CMU.

Lecture Series 2022

“The use of teams and collaboration expectations have been consistently rising,” says Dr. Scott Tannenbaum, a researcher and president of the Group for Organizational Effectiveness. “And when I say teams, I’m talking about all types of teams, whether it’s stable work teams [or] whether it’s teams that now, in the current environment, are operating virtually."

One of the things that I learned in our journey for our business proposal is about teamwork. Teamwork is essential in achieving our goals and to achieve our successful presentation of "Metacarpus" our business proposal. We are very glad and nervous at the same time when we are chosen for the final pitching. All of our hard work and brainstorming pays off. 

During our final pitching in the UCC  we presented our business proposal along with the other presenters from different courses. I learned so many things about business and the way the panel gave suggestions and questions to each presenter. For our final project it was very fun because I had the opportunity to experience advertising a business even though it was tiring because of the script, the editing etc. But it was very worth it. 

As a group of student entrepreNURSE, this week and the previous week have been a hectic period for the team. Especially because of the preparation for the final examination and the final project. Despite this, the team still did not forget their responsibilities for the startup. In fact, during the previous weeks, the team has been busy validating their business hypothesis and did the necessary steps in preparation for the launch of the startup. After all the preparation, the STUD CAFE team step up to find an investor that would support the business. Because of this, the team hypothesized that adhering to the 3 Cs strategy of business pitching would be an effective way to introduce the startup to investors and gain the necessary startup capital.

During the day of the final pitching, the team tested the 3 Cs strategy which is clear, concise, and compelling. Due to the limited time given for each team to present, our team did as best as we could to keep our presentation as clear and concise as possible. The team presented all necessary information and excluded all the irrelevant information that would divert the attention of our possible investors. By making the presentation and team compelling, it would captivate the attention of investors and would leave a mark that could guarantee the investment needed to launch the business.

The team decided as a group to eliminate all unnecessary words and make our pitch as brief as possible. Nonetheless, include everything an investor needs to know about our proposal. We also considered the 10/20/30 rule. That our pitch deck will consist of only 10 slides, 20 words, and a font size of 30. Why? This is done to prevent investors from becoming bored with unnecessary elements and wasting their time listening to another round of potential investments. This is also to ensure that they stand out from the words crammed into a small font in the presentation versus what we are saying.

We also had to decide whether to stick with the original plan or create a new one. Of course, developing a new plan would be preferable because it would take into account many new factors that have emerged. However, it would be more expensive and there is no guarantee that it would work. In comparison to the original plan, which works as is and, if realized, would be less expensive. Furthermore, when the business is already established, new innovations may emerge. This explains why we never deviated from our original plan as a group.

We learned as a team that when pitching, it is critical to not only convince the investors with words but also visuals. Investors would be too bored to look at or listen to numbers on a screen. It would simply slip past their ears. However, if visualized and graphed, perhaps, especially when it comes to the asking price. The investors would be aware of where their money is going. Which resources consume the greater portion of the half? In our case, we were able to break down our prices if investors were interested. Except there are no visuals. This makes it difficult for an investor to be convinced of the product.

Finally, we have learned more about our fictitious company as a result of this subject. We believe we will be able to create something profitable and fruitful from this in the future. Being able to share in this journey has led us to believe that, in addition to attending nursing school, having entrepreneurship on campus will shape our other personalities and, of course, help us learn new things we haven't learned before.

"Started from the bottom, now we're here." is what my mind speaks as I write this fourth and last blog. It was indeed challenging for me to set foot in a world I am not fond of. Up until now, I consider entrepreneurship a difficult context because maybe I'm not starting a business now, which means I can't relate somehow. However, it doesn't mean I'm not interested in learning more about it since I have learned so much along the way, including the utilization of the Business Model Canvas so that one's startup plans and objectives are organized, clear, and concise. Also determining the usage and usability, and many more that require creative thinking in each opportunity presented because "Creativity is the process of having original ideas that have Value" - Sir Ken Robinson.

Meetings with endless plans solely for the final pitching to be ideal and qualified; empathizing, validating, and being criticized were I believe the words that best described and summed up our journey until the final pitching. The team has contemplated and justified the needs and wants of our target market to determine which needs to be prioritized, validated to the legitimate business store owners, and criticized for the shortcomings of our startups while also acknowledging our strengths. This was a reminder and will always be: "It is necessary to be wrong sometimes. Plan to experiment, plan to fail. Analyze, adapt, and repeat. The smarter you think you are the harder this is going to be." I suppose I have to continue to be down to earth and allow other people to help me because connecting with people that I don't normally do is a way for me to grow, but we must choose the right people, the trustworthy and reliable people.

On the other hand, promoting our startup project named "CHOOSE 2 GO", is a good way to showcase the products and services it offers and how it actually operates. Even before, our team already believed that we could change the world because change began with us being empathetic, by validating, and being criticized.

In our current new normal setting, most of the classes in universities are held back through physical interaction resulting in a surge of a new set of tired, hungry, in-tight budget college students. These college students like me are in desperate need of Cafes where they can relax and recharge their energy after a tiring day of class. Although there are undeniable numbers of good and popular Cafes within and in proximity to the university, nothing can still compare to the convenience that we can offer. Due to this, the team came up with the following hypothesis to work on and achieve in order to launch our startup: 

The start-up will be recognized in the market if the team will utilize strong marketing   channels such as social media platforms. 

To gain start-up capital and attract potential investors, the team will be considering the location and the cost of building the physical store.

First, our target market commonly uses social media such as Facebook and Instagram. As these platforms continue to grow and weave themselves into the daily patterns of our target market’s lives, these social platforms will influence their purchasing decisions. Therefore, engagement on social media is a crucial part of business marketing, especially for a start-up business. Signing up and creating a page is easy and free, and it is not stressful to manage. With its aid, the team can provide support to potential customers & help the start-up grow affordably.  Thus, by creating a strong social media presence and branding the business will attract and convert customers.  The team has opted to choose from various platforms such as Facebook, Instagram, and Twitter since these three platforms are the most convenient and prominent to use. Thus, the group made the decision to sign up for these platforms as we started to view them as a wonderful opportunity to gain public recognition. 

Second, raising start-up capital is an important part of developing the startup business as it is the fuel that feeds the fire and every business needs capital. Entrepreneurs must take into consideration a variety of various aspects as they work to launch their startups and that includes funding. Startups frequently use venture capitalists or their personal networks (e.g. family & friends) to raise money. As discussed in the lecture series, Angel investors are also key players in launching a startup business; they are wealthy individuals that lend money to entrepreneurs or small businesses in exchange for equity in the business. The location of the business is often one of the most important considerations for entrepreneurs starting up in the business world. As for THE STUD CAFE, it requires a physical store and the team considered a location that is accessible, visible and has a lot of foot traffic to entice investors. Another important factor is the cost needed for launching the startup. The team explored options for material that is cost-effective and sustainable to decrease the startup costs and speed up the return on investment, which can in turn build the trust of potential investors. The team considered different locations, including Dologon, inside the University, and at the University's Main Gate. Yet, the team decided to locate the cafe at the University's Main Gate, due to its proximity to the different colleges and it has a lot of foot traffic mainly because it is where vehicles unload passengers. Then, for the cost of materials, we are considering using sustainable materials such as refurbished chairs and tables, and for our building structure, we decided to use shipping containers due to their affordability and also to reduce waste. 

Besides this, another important event that happened during these past couple of weeks, The Business Management Department hosted a lecture series in conjunction with the course GEE 16: The Entrepreneurial Mind.  For Lecture Series 1, the topic of the Startup Ecosystem was talked about by Engr. Bronson Mabulay, Director of Innovation and Technology Solutions Division of USTP-CDO. For Lecture Series 2, the topic of the Startup Journey was talked about by Mr. Arnel Arreglado, CEO and Manager of GeoPindot.  The Lecture Series provided avenues for instructors and students to learn about various important topics.  This event was extremely beneficial to my entrepreneurial endeavors. The speakers made several points. Starting with the start-up ecosystem, which is a network of people, businesses, research organizations, service providers, and even universities. All of these are for the formation of new start-up businesses.

Furthermore, the start-up journey presented during the lecture was eye-opening to realize that the entrepreneurial world is just as systemic as any other system out there. He also talked about how failure will be an important aspect of the journey because it will not only show you your weaknesses, but it will also give you a chance to improve in various aspects. When failure strikes, it is important to remember why you started - your purpose and vision. Along the way, it's also critical to invest in and develop your passions and skills. Your surroundings will also play a role because they matter, which is why you should surround yourself with people who support and believe in you. People that you can trust that won’t leave you at your lowest point and won’t envy nor betray you when you reach success. 

The funding system was also briefly but thoroughly explained, and I realized how important the money cycle is as a result. I learned why start-ups need to raise funds, how start-up funding works, and the sources of funds, among other things, as well as the concept of business pitching, including its various types. The question, "Why raise money?" was posed, and the speakers effortlessly answered it. I was astounded by how knowledgeable the speakers were during the lecture, and I also noticed their humility.

Third blog: living the life as an entrepreNURSE

We've already determined that we've solved our previous problem, a lack of school supplies, some medical supplies, and printing services, after a series of sessions, brainstorming, meetings, and countless validations.

Because of those problems—the lack of school supplies, some medical supplies, and a printing service—we already polished our venture proposal in its greater form; the business model canvas was already submitted, presented, and defended; and lastly, pitching and fundraising were executed well.

It was a roller coaster of emotions. We shared many happy moments, laughter, frustrations, and exhaustions while creating our BMC, or business model canvas, but our bond grew stronger overall. Pitching and fundraising, our emotions and feelings at that time really played us well; at some point, based on experience, I really wanted to vomit because of nervousness, but during the presentation, it was fun, and we, as a group, learned a lot.

One time, when I visited our google link, in the part that asked, "What problems have you encountered within the community that are related to the demand and supply of products or services?" someone answered in this part, "Wala kaayo’y gaadto nga mga relas sa among boarding houses, which causes us to have a distant walk from our boarding house to our college," verbalized one of our responders.

With that problem, we really had a hard time figuring out on how to resolve it since the rela services doesn’t have an exact time or schedule upon roaming around inside the campus. An addition to that is if we offer service that "ali" of relas in that particular area, we risk wasting the drivers’ time since we don’t know exactly as to when they will go to their respective colleges.

In the previous weeks the team decided to change our first product which is a decaf corn coffee to a modified sleek stick with comb, there were several options the team suggested and these are the following: first is the 3 in 1 highlighter where in you can change the color of your highlighter without opening another color then the second was an umbrella where you can change the hood of the umbrella into a darker one or a transparent one by pressing a button in the handle and also depending on the weather then the third option was the sleek stick with a comb and thus the team decided to pick the third option to modify this existing product for we see that this is the most feasible and thus will help a lot of people who have the same existing hair problems other than the people we specify.

Now the following narratives of my interview validation of our product from a 2 different persons.

At first I interviewed a female student through an online platform (Messenger) that was an Advance/Aspirant ROTC officer she states that it is really important for them to keep their hair especially when they are doing their morning routine activities. And also she said that their seniors were really strict when it comes to their hair, especially for the cadets, it's really important that no baby hair falls out and made sure that the bun is tight enough but not enough to make a cause of a headache. "We are advice to use hair gel to make the hair a little shiny because it's cool to see if the brunette's hair is shiny or you can also use hair pens as long as you don't use spray net". And according to her it is very hassle that she always buy a 5 peso hair gel because for her it's kind of waste of money also after that, when they quickly line up as she said, sometimes she forgets to put her comb in her bag, so sometimes she only puts it in her pocket, and we cannot omit that there are instances that the comb will fall and that's the reason why sometimes we are getting scolded by our seniors she stated. She says that she dislikes using the hair gel especially it is very sticky to the hand. As for her, who has a very sweaty hands and there is a very big tendency that she can wipe her hands in her shirt which will cause a mess. And she wishes that there is a product or a hair gel that has a less grease. And even though it's not like the gel that we have, but she wishes that it's somewhat a hair polisher type that's handy and affordable. And that's is easily available and accessible in any stores especially in various stores.

For the second person, I interviewed a 2nd year student nurse she complains about her baby hair keeps sticking out and tired of how to style her hair without bringing her comb saying It's very troublesome because her baby hairs keep standing up and she utters that she really like her hair to be well kept and the she remarked that she's getting tired of bring a hair gel because it's too big and she sometimes doesn't like to use it because her hair is will be very stiff and hard to comb as for her who had a very curly hair. She also says that its really hard especially when they are on duty like after removing their OR head caps their baby hairs are already sticking out because of sweat and it is very hassle to go back to their bags just to get another gel and a comb to fix their hair especially that their somewhat like locker room where they put their bags are really far. And she also mentioned that using a hair gel is very sticky to the hand and probably if they don't wash their hands thoroughly it can possibly contaminate a sterile field in the OR. Thus, she wishes that there were somewhat like a very innovative hair gel that is very handy and pocket size where she cannot bring a comb anymore because it has already in the hair gel itself thus saving her a time in coming back and forth to her bag just to get a gel and a comb.

We have 3 learnings as a team first we learned that we have to accept the fact the we fail on our first venture proposal as this is part of our journey and so we gotta have to think of a new product to present. Second, we learn and reflected from our mistakes. And lastly we learn that we should really believe and trust ourselves in order for us to present this venture proposal successfully.