Our journey: "It's just nowhere, and now we're here"

Hypothesis Definition

Since it's the last week before the final venture pitching, the following week was definitely a wonderful hustle for us. Our new concept was somewhat labor-intensive, and we had just recently come up with it. Starting from scratch, we had to work out again on our BMC model canvas, further and more rigorous validations and a draft of our prototype. Due to the simplicity and plainness of our proposal, we had so many doubts on whether we could pull off our idea or not. The sustainability of the business' potential to thrive, the moral character of our employees, and the administration of the company are just a few of the many factors we have had to take into account thus far. This is because we are still students and must put our studies first.

Hypothesis Testing

To test the ventures’ sustainability we had work more on the validation of our target customers which are the CMU students. We had conducted an online survey through google forms and imbedded there are the relevant questions which could help us conclude on whether our proposed business could sustain in the long run. We also browse for similar businesses and business proposals and there we find that there are already existing schools, universities and even communities who had ventured out this kind of business.  To ensure our employees honesty, we had decided to work on with its management on our free times during the day and will monitor it every 4 hours as possible.

Team Decision

It was intriguing to generate a positive response when we collected the data from the survey responses. As the final day draws near, our uncertainties gradually fade and our optimism builds. Despite the fact that our enterprise was relatively straightforward, we were confident it could be executed.  The team chooses to investigate the idea further and discover more flaws in order to be able to immediately refute it when we offered the idea. It was an in-depth conversation that made us value our endeavor more.

Teams Options

The team had no choice but to work toward a successful end with regard to the venture's viability over the final week. Up to the final presentation, we had done the best we could throughout the last week. The need to stand up for what we believe in and share the beauty of what we see made it necessary, not an option or a choice, to defend our business plan with brilliance.

Lessons

In this week we spent most of our time to brainstorm for the revision of our pitch deck proposals with respect to the corrections of our panel from the previous pitch deck session. We added informations and some upgrade on our product through the feedbacks we gathered from our individual interviews. This time we made sure that all the suggestions and informations we had were being properly applied for the betterment of our start up business.

This week we continued to conduct few interviews to finalize our products and summarizing some inputs we gathered from the feedbacks of our interviewees in preparation to our up coming pitching. We prepare as much as we could to improve our concept by making our product feasible to the panel and brainstorm on how we will be able to compete to the market.