#teambangan

Time management is really important. We need to manage our time in order to finish all of the requirements given to us. It is very useful not just for us students but also to other people specially those businessman. In business world, time is very important. Every second counts. You need to make every second valuable and never waste time with those things that are not important. Part of that time management is having time with yourself, work, friends, and family and most especially to God. That’s why we Teambangan practiced to manage our time.

 Since we don’t want to waste time that’s why we really consume the available or free time that we have. For this week we’ve done a lot of thing like making prototype, interview to another potential customers for the additional data and we also made the activity given to us which is the PowerPoint presentation for next week. I will explain all of the things we did in details:

First, the materials needed for the prototype and the prototyping

Ø We as a team did a meeting in order to talk about the activity we needed to accomplish for this week. Then we first talk about the materials that we needed to finish our prototype. We do a list of the materials and started to do canvassing in different electronic stores in Cagayan De Oro. Since, we were not be able to buy all of the materials because it is not available here in Cagayan de Oro we need to order online. Then, we order it online but until now some of the materials we ordered were not delivered. We don’t want to waste time because we have a lot of things to do aside from this subject. So, our hacker finalize the codes or program needed for our system and the remaining two member made a house needed for the demonstration of our product. We buy some of the materials here in CDO so we install those available materials in our prototype house but it is not fully done because we wait for the other materials. But, we do our best to finish it next week.

Second, interviewing potential customer and channel partners

Ø We continued interviewing to our potential customers to ask some questions needed for our new idea which is the subscription. We already interview about it last week but we just continue it for this week in order to have more information or more suggestions from our potential customers since customer’s suggestion is very important. And for now we come up with an additional idea suggested by our customers which we find a very good idea. Then we also interviewed channel partners.

Third, the PowerPoint presentation

Ø For this week, we updated our BMC and change some of the information like the Customer relationship. Wherein we add the get, keep and grow. Then we also add some info in our customer segments. Since our instructor, Engr. Mabulay give some corrections in our value proposition, we work for it and change some data. Then, we also solve the Customer acquisition cost and the lifetime Value of the customers.

Lastly, we as a team conducted a meeting in order to talk about the final pitching and the remaining activity that we will going to comply for this subject. Well, we decided to divide the task needed. Our hacker is responsible for the codes or programs of our system, the hustler is assigned in interviewing more potential customers and the designer is for the design of the product. Then all of us will unite in making the video presentation and making the final pitching. We divided the works needed in order to accomplish the requirements on time.

 I’ve learn a lot of thing for this week. Especially about the time management. Then, part of my learnings is that we people should not be scared asking suggestions and ideas to other people because those people around you is the key for your success. Those people will give you more information and can advise you in everything. Then lastly, I learned that if all of you in a group are working together task will be easy and requirements will be done on time.

According to bill gates,”To win Big, You sometimes have to take risk.” We Teambangan have already sacrifices a lot come at this point. A point where we are now working for our success .Though we are far from that, we all know that we are really coming. Time will come that we will be able to say the word SUCCESS. Every week that we presented our reports, pitch, and data are part of our success and I’m happy to say that we really did great as a team. I am lucky being part of this team and having this right people. A right people who are really passionate and willing to take risk.

I will explain and narrate all of the things that we did this week. First, we have a forum, we as a team talk about the things that we will going to do for this week. Well, we continue memorizing our pitch and put some corrections in our slide. We try to practice talking or doing our pitch in order to know if we are really ready for the pitch this Monday. We try if our pitch really suit for 4 minutes presentation. And I think we got it. We cannot say that our presentation this coming Monday will be great, but we will do our best to have better.

Second thing we do is we conduct interview to our potential customers for additional information or data for the presentation. We try to ask household owners in subdivision if they are willing to pay for our product. And some of them say that they are but some are not. While doing our interview we first introduce our product and that is by trying to explain our product like we are doing pitch in order for them to understand what are our product and what problem are we addressing. We are using lay mans’ term in order for them to relate. Doing those interview is also a way for us in practicing our pitch. Then after introducing our product we ask them some questions. Well, some of them suggesting what are the best thing that we are going to do. Though we are already done calculating the cost of the product, we are still accepting suggestions for the improvement of our product because we all know we are not perfect. It is also important that there are those suggestions of our potential customers because they are the one who knows what they want and what are the things that need to be improve base on what they see or observe from the existing product they have or they see. I am happy that some of our interviewee are really amaze with our product and that made us more determined to continue this.

Lastly, we as a team talk about what are our plans not just this week but throughout our journey. We Think if how are we going to end up.If this product will be successful or not . We think of the possibilities. Then we also plan on where are we going to interview next week.

I am very thankful that we are given a much longer time to prepare for our pitch this week. Because of this time given to us, we became more prepared for our presentation and we are confident with it since we have a lot of time practicing. Because of this time we collected more helpful data for our presentation.

David Rockefeller said “ Success in business requires training ,discipline and hardwork. ” That quote made me think that all the things we did from the previous week is really part of our success as a group .I know that we are far from what they said success but we as a team are determined that for the near future we will be one of the successful entrepreneur in the world.

         For this week, we made a slides for our pitching for the next meeting and we really find it hard, since you have to think what is the best thing to do in order to attract investors and also customers. We need to consider a lot of things like making catchy phrases and most importantly making a whole slides that can fit for just a limited time. And we as a team exchange ideas on how we can accomplish that task. We are not just doing a slides for pitching but we also did a computation for our cost, revenue and profit. And for me it is very hard because you are not just computing it directly you have consider the price of the materials that you are going to use, the expenses for making the product and think for your possible profit . You need to consider those things because you are not just doing this business to lost money, you are doing this to make money out of it. But, the most important thing we did for this week was finalizing the circuit, the features and its functionality.

         We are instructed to interview some of the resellers in order for us to get some ideas:

Question 1: How they handle customers?

Answer: They said that in talking to customers you need to control yourself, avoid arguing to them because you may lost your potential customers. Let the customers talk and show some respect to them and show them that you really care. And most importantly don’t make promises that you can’t keep.

Question 2:  How they introduce their product to their customers?

Answer: They don’t introduce your product directly you need to build connections with your customer first. And if your talk got more interesting that’s the time that you are going to introduce the product. But, there are instances that they introduce the product first and do some back up phrases to convince them buy the product.

Question 3: What are their strategies on making their customers buy their product?

Answer: there are lot of strategies they do like making your product more interesting. Doing a best pitching to convince the customers well. Assure that the product really solve the problem they have. And by showing to them the features of the product.

Question 4: How they overcome failure?

Answer: Mistakes will happen, things will spiral out of your control, and deadlines will be missed. Yes, it will hurt, and yes, you’re allowed to be sad, but that doesn’t mean it’s the end of the world. You are not going to fail all the time, sometimes you just need to put a greater effort in order to succeed. They are just always positive.

Question 5: How hard it is doing that kind of job?

Answer: According to them it is really hard since they meet different kind of customers like angry customers and you need to make some strategy to make them buy the product. But the most important thing to convince customer is by building good relationship with them.

Question 6: What are the advantages they get with that type of channel among others?

Answer: They can introduce the product and explain the product well. You are going to meet them personally and get to know their interest since it is very important considering you are going to target first the interest of the person and after that start thinking of an idea on how you are going to sell the product to them

 Through our interview with those resellers we conclude that it is not really easy doing their jobs since you are going to encounter different kind of customers and there are lot of challenges doing that kind of job. Like what Steve Jobs said that “ Customers don’t measure how hard you tried. They measure you on what you deliver “, that is why we really do our best to deliver a product with a good quality and a product that is really effective in terms of resolving the problem we addresses. And we hope as a team that we can do that job successfully through learning from those people we interviewed.

We are done with our target customers, persona and our value proposition and now we are down to the channel. Before we come up with this different results, we first interview our valued customer segments. Thus, the result is that;

              Our channel is direct selling because when we interviewed different home owners and establishments in subdivision, some of them are really curious about our product, some of them really want to see the product first and want to know its functionality. That is why we want direct selling in order for our product to be exposed to people and in order to demonstrate to them its functionality and also to make them understand its importance and advantage among other security system. We want to have a customer interaction and know their feedback with our product personally in order for us to get some additional ideas on improving such product before we will start to have a bigger company. Direct selling is really effective for us especially that our product is home security system it really needs a personal interaction in order to explain well about our product.

           We also interviewed security guards in a subdivision since our product is connected to the guard house in order to hear some of the information and ideas.  We try to ask them if what are the things they did in order for them to have a better security? Then they said that they do “robing” in the area and they really ask those people who enter the subdivision to have a logbook especially those unusual people, but they said that those things are not enough since most of the “kawatan” are very wise. We also ask them if they have any existing security system in the area? Then, they said that they have a CCTV but mostly they cannot point out or recognize those intruder seen in the camera. They have the same answer with those people we interview last time that CCTV can only record what happen, they want to have a security system that can take an action on or before the crime happened .After that, we introduce to them our product and its features and they find it quite interesting and they want to have that certain product in the subdivision where they work since it is very useful in their area.

           All in all based on our interview, we can say that most of the customer segments are really interested with our product and willing to buy it in near future. And we also try to ask them what are their bases in buying such product and they said that the quality for them is the most important especially with that kind of product. Cost for them is just the secondary bases in buying a product and that is why we change our value proposition to a good quality.

           I learned that you really need to build connections with your customer segment. You need to do something to make them trust you and trust your product. While having a long time talking other about your product, you need to make them believe that your product is really effective and good compared to those existing one. The longer you talk to your customer the greater the chance that you are going to convince them to buy the certain product. When we introduce our product to them, they are really curious to our product. Since we have the same problem with most of our customer segments it’s easy for us to introduce our product and sell this to them. We all know that there are already lot of existing product that address the same problem that we have but did something more which is innovation in order to have a greater advantage among others. Then as a result lot of them say they are interested and that makes us more passionate and willing to finish this project. We also made a channel diagram for this week and base on that we must say that we may get a greater profit for it.

Last year we decided to change our problem and the product then it resulted that we will be having a security system since nowadays, security system is very important in every aspect of our life. Most of the things we use has security like cellphones, laptop, atm and etc. But most of our houses where we tends to stay and relax did'nt have security. That's why our problem is lack of security in our houses and decided to have a project which is the security system using arduino and servo motor. And we validate that through interwiew.

As we interview different people in their respective residences we come up with a result that some of the people did'nt need such product since they have their dogs rhat serves as security, some also says they dont want to buy since they dont have such problem. But there are also people who are willing to buy such product as long as they can afford it and lastly there are those who want to buy as long they can assure that the product is really effective. Those people we interviewed have different status in their life. But we will sell our product to those people who have stable life like they have enough salary and those rich people.

To address the needs of our customer we planned that we will make a product that is cheaper and most of all it is effective security system against intruder. We will also planning to have a free installation

After thinking, brainstorming and presenting our ideas, we validate it to our customer segments. To validate it, we conduct interview. Since our problem is the inconsistent weighing scale reading we try to know if our problem is their problem without mentioning it to them. But, As we interview 8 people we come up with a different answers. They don't have that problem since some of them are comfortable using analog weighing scale and some of them are already using the digital one. Their main problem is the 'puhunan' and their rental fee for the stool. Some of them answers they have problem on how they can gain money. And sometimes they get ' lugi' because of mistakes in giving the change (money) of their customer. In terms of materials they are using, they are already comfortable using it but the problem :(madali lang masira ang mga materials like box, basket and etc) it will not last longer. After interviewing we learn that our problem is not really their problem. They just realize our problem if we will mention it to them.That's why we talk as group and come up that we will change our problem and shift to another project. We will think for another idea that will really bring a great impact to our customer segments.