#finalpitching

4th Blog: Final Pitching and Final Project

The team have prepared for the pitching for about 1-2 days, it was rough because of things loading up. We were very busy because of the upcoming case presentation of one of our major subjects and most of us didn't get to sleep because of the preparation, thus we spliced our task of one another for the preparation for the pitching.   Some of my team mates didn't get to do their part so I have to cover for it. The team had some disappointments during the pitching. I was confident that everything would be fine, and everyone on the team was prepared. But I was wrong, the team's pushing who is going to report or talk first, thus I talked first and I didn't realize that I was just talking the presentation like reporting it, because I'm so tired, I feel like I was there but not there and also I was nervous and my other group mates were doing nothing. Earlier that day, I help my other 2 group mates to finish our power point quickly, so I multitasked to do our case manuscript as well as to prepare for the final pitching.

Our professor was really disappointed and made comments on our pitching so one of my team mates talk to our professor that hoping she will give us a second chance to redeem our group and he will be the only one who was going to persuade the investors. Successfully, he was able to persuade them but there were errors about our product, the team asked too much money for a start up and didn't calculate the profit if we going to actually sell the product. I was really disappointed of my team and to myself too because I realized that give my very best to pitch our product but its still not enough but also happy at the same time, since it was done. Thus, I learned that it is really important for us to be prepared on time to avoid cramming of activities but still I realized that no matter how much I manage my time there were circumstances that I can't control.

There can be no doubt that transportation is the most critical sector in the economy.

Have you ever wondered? Even if a lot of students are complaining about the transportation issues on Central Mindanao University campus are still not being addressed, and people tend to accept it as normal.

As a student who is taking entrepreneurial mind as one of the midyear class subjects, do not want to let this opportunity pass because I envisioned something in particular and know that there is a user-friendly option.

Together with our team, we created an application that we believe may address the campus mobility problem in the hopes that it will significantly improve the local area. As a result, our team has decided to create an application called "PASAKAY".

For the past few weeks, our team has been conducting interviews with individuals from our target market—students, faculty members, employees, and other users—to validate our application. As many CMU students do not have a midyear class, our team also opted to conduct an online survey using Google Forms. By doing this, we may also ask for their thoughts on the application under consideration. The validation went smoothly thus far. According to the information we obtained, some of the issues facing our target customers include locating a motorcycle or motorela in off-campus locations and the length of time it takes for a motorela to depart as drivers wait for their motorela to be full of passengers. Our team has determined that our proposed application is helpful for the CMU community based on the responses from our respondents.

We asked our respondents about the use of this app during the validation process. Fortunately, the majority of them are excited to use the application when it is released. The people we spoke with claim that having this application will be beneficial for them because it offers ease and enables them to get where they're going more quickly. Regarding thelps our product stand out from the competition. The hypothesis is accepted after a week of validation because there has been a strong correlation between the variables. Because of the application's unique capabilities, which were created specifically to meet the transportation demands within the CMU community, it is true that people are willing to use features of the program, we advise customers that they may be assured of their safety and security because users can view driver information including name, contact information, and licenses. As the CMU community does not have a good internet connection, one of the concerns pointed out by our respondents is that the panel would ask. Given that everyone in the group divided the task, the preparation went smoothly which made it easier for us to finish it.

After gathering all the information, our team made the decision to prepare all the materials needed for our final pitch, including a prototype, PowerPoint presentation, and estimated cash flows in case the panel would ask. Given that everyone in the group divided the task, the preparation went smoothly which made it easier for us to finish it.

We held our last pitching yesterday which our panelists provided feedback and suggestions for improving our application. They also complimented the way our traction was presented, saying that the video was so in-depth that they had few questions because it was clearly explained. They saw that our costs were a little high when they inquired about our planned cash flows, therefore they suggested reducing some expenditures as we have yet to begin developing our application. In conclusion, our final pitching went well, and the panels praised our initiative and commitment to developing the PASAKAY application.

I've learned a lot about how to launch a business through this journey of adopting an entrepreneurial mindset. It also taught me that starting a business does not have to be done immediately; rather, it should be carefully evaluated to see if it would be viable and sustainable in the long run. I've developed my creativity and communication abilities as a result of studying this subject. Additionally, without the help and cooperation of my team members, who are sufficiently responsible for every task we complete, our proposed application will not be successful from the beginning of designing it through the final pitching. To our instructor as well, who is constantly available to address our questions and mentor us as we embark on the process of producing this product. An application that we are excited to launch in the future because we know it will be of great use and could help for the betterment of the CMU Community.

Sa serbisyong tinud-anay, diri na ta sa PASAKAY. Sa imong paglakaw, magbalik-balik pa-book ka jud.

PASAKAY: Paadto sa imong padulngan

Pitching plays a significant role in start-up. In pitching, organizations and groups showcase their strengths and weaknesses and how long can the project sustain its usability and what are the measures they need to put in order to fulfill its mission and vision. In my personal journey, it takes a lot of effort in terms of preparing your project and gaining also advices and ideas from the panel. Being open to any changes can also be possible if you want to grow outside your possibilities.

VMEB Solutions have been my bread and butter during this semester, it enables myself to put a heavy courage on how should I lift the project and what possibilities I must need to sustain its validity and how it should flourish in the market if possibly. I felt relief on my end, knowing me and my groupmates have come a long way to fought what we believe is right and just in procuring our possibility could also be your possibility.

-     Aaron Patzer, Mint Founder

As for the lecture in Protection of Intellectual Property Rights, the advice that my memory absorbed the most is that “Transform ideas into tangible products” which is definitely true. How can a business be owned without the actual product or services? This is where the “first to file basis” come to register the founded product or services to the intellectual property office, with the goal to protect one’s business idea. Through the discussion, I have reviewed the intellectual property cycle which are the following: creation, protect, utilization commercialization, and enforcement.

In initial stages of business, startup is the common phase for all entrepreneurs in their first stage of operations. This is developed by offering service and producing products for which they believe there is a demand. Uncertainty and disruptive incidents are common in this phase.

Every ideas or products surely starts from nothing into something. Being wise and creative, people today may innovate things out of anything in order to make a solution for a certain problem. As quoted by Michael Arrington, the TechCrunch founder, “The best startups generally come from somebody needing to scratch an itch”. Because of this principle, some took it as an opportunity in creating a startup business model.

However, failure is always present in the business world and according to the cofounder of Ehatid, similar to other business owners, they also experienced a letdown in their services. Even with their good value proposition, Ehatid still encountered a mistake in their service.

How did this happen?

In reality, some of the big corporations are able to take advantage of small businesses. New entrepreneurs believe that time, effort, fund and resources are essential to successfully launch a product or app. There will be a time where the service can exhaust workforce, fund and also end up not being paid by corporations or organization who asked for the services. According to the speaker, Miss Krystel Nacua, this was their mistake and they took it as a lesson to persevere. She said “pick yourself up from where you were left and move forward”. Subsequently she added “be equipped for opportunities knocking at your door”.

Personally, I think that failure is essential as this provides a way to learn something and improve. After listening to the lecture series, I realized that startup should be worked one at a time. One should prepare plans and formulate backups for some possible setbacks. If mistakes arrive, quitting is the very last thing to do for a true entrepreneur. Our hobbies can be the key for bigger opportunities one day. A good product must be an answer towards convenience, affordable, and useful.

Definitely, success does not happen in an instant. One should work it out and exert a huge amount of time and effort to merit an achievement. As Bob Parsons says, “Anything that is measured and watched, improves”. Upon listening to the lecture series I conclude that time, effort and perseverance are the key to success.

For now, my team is currently drawing out ideas from different resources in preparation for the pitching. We are presently gathering information necessary for the pitching. We seek help from other people who have experienced pitching their ideas. Miss Keren Lacadin, the third speaker for the lecture series, advised us that if we seek for investors, we have to validate our ideas first and get help in creating necessary paper works or complete the due diligence. We are utilizing our time to gradually process our presentation, sharing our ideas, trying, testing and emphasizing teamwork for us to be prepared for our last goal which is to successfully deliver our final pitching no matter what the result will be.

There are lot of things we need to accomplish for the upcoming final pitching. One of it is making a final PowerPoint presentation, prototype, interviewing more potential customers, video presentation, compilation of all the presentation and the CD which is the copy for all the things we did for this subject. And we are now start making that requirements.

 For this week we did another interview to our potential customers. We ask if they are okay with the pricing we set for our product. By the way we have a subscription as our revenue stream and for those who will pay the product fully they will have 5% percent discount. And that price is already validated.Then after interviewing we start to finalize our BMC and our final presentation this coming Thursday. We also work for our prototype wherein we finalize and make sure that it function well. We also add some contents in our PowerPoint for our final pitching which is about the revenue streams. Well, as of now we just continue making those requirements and we are looking forward that we can finish all of this and practice for our final pitching.

To end this blog, I just want to share all of the knowledge I gain for this subject.

We have done a lot of things throughout this semester. We interviewed different types of people, make blogs, done pitching, present ordinary reports, and work as a team. And we cannot deny that with all of the things we did, we experience a lot difficulties and most especially rejection. But because of those experiences we learned a lot of lessons like:

1.     Facing our Fears

Ø I remembered that our first activity was rejection therapy. That activity made us a better person. A person who accept rejection and was never discouraged of being rejected instead she continue to convince that person to do such thing. And that is the character of an entrepreneur wherein she will always do her best to convince the customers to buy the product even there are lot of rejections being faced. She always continue to sell the product to the customers until she became a successful entrepreneur.

2.     Confidence

Ø In every presentations and interviews we did, my confidence grows. The first time we talk to people, we are scared of not being entertained. But at the time that we continue to talk to a lot of people I became more confident. It’s not easy to talk to people especially when you meet the angry people. Well, in terms presenting in front of a crowd, I also gain confidence. And those things we did made me more confident.

3.     Managing time

Ø There are lot of activities with this subject. Because of those activities, we learn to manage our time. We learn the value of time and we did all of our requirements on time.

4.     Critical thinking and creativity

Ø Since we did a lot of activities and assignments. Our critical thinking and creativity is being develop. In a way that when our instructor give us activity especially on thinking the problem that we are going to address and creating a product. We as a team at that time do a brainstorming of ideas on what product are we going to do. In every presentations we did weekly our critical thinking and creativity are practiced.

5.     Accept failures and accept suggestions of other people

Ø In our first idea, we experience failure. Our first idea didn’t work since our problem is not the problem of our customer segments. But instead being down we accept it and continue making a new idea. But that failure didn’t just end in our first idea but we also face it in our second idea. Well, because of the people and most especially to our instructor who encourage us to continue we did it. I learned that people around us are the big help of our success. We just need to listen to them. Accept their suggestion for your improvement. And because of the failures we faced I learned that we don’t need to fear failure but we should embraced it and accept it. It is a big contribution of your life for you to become a better person. We all know that we don’t need perfection because we need failure to make us a better person and learn a lot of things.

6.     Take risk

Ø I am afraid in taking risk especially when I know that it’s not worth risking for. In every idea we did, I am afraid that people and customers may not like our product. But because of this subject I learn to take risk. I learn that we don’t need to be scared presenting our ideas and share it to others. Because that the way for you to be known and successful.

7.     Unique

Ø All of us are afraid to be unique especially in terms of having a different answer among your other classmate. And I accept that weakness. But because of this subject I learn that being unique is your asset. Uniqueness is very important in business world.

 All of those things are the lesson that I learned and the aspects of myself that improved. And I’m happy that this semester is a fruitful one. And I would like to thank our instructor for giving us a wide knowledge and encouraging us to learn. To my groupmates who are always there throughout this semester, to my parents for giving me opportunity to study and most especially to God who always give me strength and knowledge to be able to accomplish all of the things needed to be done.