STREET FOODS WITH KAKANIN

The owner of this Small business is Charlotte Mapa. She is 31 years old. She started to sell street foods on year 2019. she have many customer aside her foods are delicious its also very affordable. It's perfect for a snack that's why she have a many customer.

For my 8th week in my Technopreneurship class, sir Mabulay discussed about Value proposition. It solves a problem or a need. It’s about satisfying customer’s needs. He said that the two most important things included in the BMC are value proposition and customer segments. These two should fit and coincide to achieve product market fit. Inside the minimum viable product (MVP) are three 3 important things you should include: pain, key solution and gain. Pain relievers should eliminate risks, produce savings, make customers feel better and etc. We should rank the pain the customers felt according to their intensity and frequency. Gain creators should make the customers happy, make the job or life easier, create positive consequences and etc. In order to build the MVP, you should get out of the building and build something. Sir Mabulay said that what should be presented in the MVP is the low fidelity part of the application we are working with and not necessarily the high fidelity part which contains all of the coding details. We need to build the low fidelity to gain the customer’s feedback. Sir recommended to use wireframe for this. He said that we should avoid having a feature in someone else’s product. Yes, it is nice to have in the development of our application but it’s only a feature based one another product. One thing he said that struck my mind was “entrepreneurship can be learned. Once learned, you teach about entrepreneurship.” Like Sir Mabulay did, after what he learned and experienced about being an entrepreneur, he taught his students of it. That was all the things I learned during the class. Then, sir reminded us to update our BMC and present our MVP by next meeting. He gave us an assignment of listing out the pain relievers and gain creators based on our startup.

Our midterm exams started on Wednesday so we were all busy studying and preparing for the exams. Sir Mabulay posted in Slack and announced that we will present our updated BMC together with our assignment by Saturday on our scheduled time for the midterm exam. So, our team had a meeting to discuss about our BMC update and the assignment sir gave us last time. We started listing our pain relievers to our customers. During our meeting, we had two different understanding of what gain creators are. We either thought of it as the gain we can get from the customers or the gain to be the opposite of what are pain relievers are. For me, here are what I corrected of what our pain and gain is. Or pain relievers are: buyers and sellers can organize their parcels and less manpower; and time for both sellers and buyers. Our gain creators are the following: the buyers can save on shipping fees and for the sellers, they can save time and effort to ship out their buyers items in the logistics branch. We also, discussed about our MVP. We clarified a few things and Muznah listed what should she add to our user interface. We tested out the user interface she made through invis.io. Though, she didn’t use wireframe. It was similar to wire frame where the buttons and text forms, images can just be dragged and dropped.  Then, we talked about updating our BMC. We agreed to remove the “connect with other sellers” from our value proposition because it wasn’t part of our value proposition after all. Next, we corrected our “lessen shipping fees” to be color blue instead of pink to link with our outside CdO buyers. After our meeting, we contacted our outside CdO buyers through a phone call for more intervews. Muznah said she will also be the one to make the PowerPoint presentation for our assignment.

On Saturday was our scheduled time to meet in presenting our BMC and the assignment but sir Mabulay said that there are still some proposals that were not approved, so he postponed our presentation. Instead, he lectured about pitching. Fundraising is the reason why startups pitch. He explained on how a startup funding works. It started out in the idea stage where we are still in, followed by the co-founder stage, family & friends, seed round, Series A and lastly the highest level of funding is the IPO or the other term for this is stock market. This stage already involves the public. Fundraising is done solely because startups can raise money to invest for equipment, office rent and to hire staff. The sources of fundraising are family&friends , the “angels” and I forgot to write down the third source. As sir Mabulay discussed, these “angels” are the kind-hearted investors who wants to pay it forward and help startups on how they will start. There are three kind s of investor pitching. These are elevator pitch, short-form pitch and long form pitch. Sir said that what we will be doing is a short-form pitch. He also said that by the end of the semester, we will submit a video pitch. The pitch deck has a 10/20/30 rule. There should be only 10 slides or less to present that explains your business. It should have no more than 20 words per slide. It also should have a bigger font size of 30.

For this week, since midterm week is approaching, we were informed that instead of having a written exam, each team will do the pitching for our midterm activity.

Our team gathered and prepared the necessary things needed. Then we made our slide decks which comprises of the problem, solution, how does our application works, the business model, competitive landscape, then finally our title with the tag line.