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Final Pitching Experience & The Entrepreneurial Mind Journey
Proposing a start-up, a reverse vending machine, was an exciting venture that combines creativity and sustainability as we embark on our journey on this subject. The blog contains the journey, starting with interviewing people about the difficulty or issue they're facing or experiencing around campus, the first basic task that my team had to complete on our journey. To a detailed pitch, emphasizing the difficulties and learnings we encountered along the way.
As we already received their responses, each of them brought different unique perspectives. Our team brainstormed their answers to think of what start-up we could propose. The interviewees' answers served as our compass that guided us toward our proposed start-up, the reverse vending machine. When it comes to group projects, decision-making is essential to determining how a team will proceed. The interview's outcome was thoroughly discussed by the team. After navigating the challenges of decision-making, the group did come up with what we’re working on during our final term. That’s how we came up with our start-up, a reverse vending machine.
The concept of our reverse vending machine is to address how we can make recycling more efficient and accessible for everyone. The Eco Bro team did a lot of research to understand how reverse vending machines work. The team did research on the machine’s design, features, and the different models already in use around the world for us to compare and make our reverse vending machine have its own unique feature. In building our prototype with the features we have mentioned, During the process of making prototypes, it‘s quite challenging. We had sleepless nights and worries about whether our prototype would work just like we wanted it to. We made our prototype out of scratch; no programming or wiring happened—just our own DIY reverse vending machine. Through the team’s hard work and teamwork, we managed to make our own DIY reverse vending machine. And it's a success. In our final pitch, presenting our project to the new sets of panelists was the most crucial moment, as it was the last step of our journey. During the final pitch, it’s not just about presenting the project; it's also about being able to effectively communicate its value proposition. like highlighting the benefits and pros of our project. It is also involved in preparing to address any potential concerns and objections about the project. And lastly, to be able to show the panelists our prototype and how it works. After presenting it, we got good feedback, and we got compliments on our presentation. And that’s a success.
But, of course, there’s no journey without challenges; everything has its ups and downs. During the interview, some felt intimidated. In brainstorming the ideas, each of us has a different perspective, and there's a communication barrier. During the first proposal, our first idea was rejected, so we need to come up with other solutions. In midterm pitching, the feedback of the panelists is not that good; there are a lot of changes we made. They want money, but we want sustainability. During the customer validation, different feedback was gathered, both positive and negative. We didn't let those challenges bring us down, so instead, we made it our lesson to do more and to give our best. And that’s what we did.
Lecture Series
During the lecture series, I'd be honest, I really didn't get to understand everything in our seats. The University Convention Center was full of students, and we didn't have the chance to sit in our designated seats. However, I can say that the lecture was indeed informative and indeed gave us insights about the business world. What caught my attention was when the speaker discussed the dynamic of the start-up. It was mentioned that startups, which convert creative ideas into workable solutions, are becoming more and more significant to the world economy.
The speaker also discussed personal examples that demonstrate how entrepreneurs seize chances and overcome obstacles. Learn how entrepreneurs use copyrights, trademarks, and patents to safeguard their innovations. I was unable to hear the majority of what the speaker was saying when they discussed copyright legislation during the lecture.
If we're talking about experience, ever since I was in elementary school, we owned a grocery store. During the lecture series, I also learned that a grocery store is not a start-up. It's funny, yes. A start-up is a newly established business venture that is in the early stages of its development. In summary, a start-up is an enterprise that aims to achieve large growth and market influence by leveraging innovation, scaling rapidly, and managing substantial risks. It goes beyond simply being a new business.
It was fun. 😊
Thank you, Sir.
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CLOSING THE JOURNEY
Final Pitching Experience & The Entrepreneurial Mind Journey
Proposing a start-up, a reverse vending machine, was an exciting venture that combines creativity and sustainability as we embark on our journey on this subject. The blog contains the journey, starting with interviewing people about the difficulty or issue they're facing or experiencing around campus, the first basic task that my team had to complete on our journey. To a detailed pitch, emphasizing the difficulties and learnings we encountered along the way.
As we already received their responses, each of them brought different unique perspectives. Our team brainstormed their answers to think of what start-up we could propose. The interviewees' answers served as our compass that guided us toward our proposed start-up, the reverse vending machine. When it comes to group projects, decision-making is essential to determining how a team will proceed. The interview's outcome was thoroughly discussed by the team. After navigating the challenges of decision-making, the group did come up with what we’re working on during our final term. That’s how we came up with our start-up, a reverse vending machine.
The concept of our reverse vending machine is to address how we can make recycling more efficient and accessible for everyone. The Eco Bro team did a lot of research to understand how reverse vending machines work. The team did research on the machine’s design, features, and the different models already in use around the world for us to compare and make our reverse vending machine have its own unique feature. In building our prototype with the features we have mentioned, During the process of making prototypes, it‘s quite challenging. We had sleepless nights and worries about whether our prototype would work just like we wanted it to. We made our prototype out of scratch; no programming or wiring happened—just our own DIY reverse vending machine. Through the team’s hard work and teamwork, we managed to make our own DIY reverse vending machine. And it's a success. In our final pitch, presenting our project to the new sets of panelists was the most crucial moment, as it was the last step of our journey. During the final pitch, it’s not just about presenting the project; it's also about being able to effectively communicate its value proposition. like highlighting the benefits and pros of our project. It is also involved in preparing to address any potential concerns and objections about the project. And lastly, to be able to show the panelists our prototype and how it works. After presenting it, we got good feedback, and we got compliments on our presentation. And that’s a success.
But, of course, there’s no journey without challenges; everything has its ups and downs. During the interview, some felt intimidated. In brainstorming the ideas, each of us has a different perspective, and there's a communication barrier. During the first proposal, our first idea was rejected, so we need to come up with other solutions. In midterm pitching, the feedback of the panelists is not that good; there are a lot of changes we made. They want money, but we want sustainability. During the customer validation, different feedback was gathered, both positive and negative. We didn't let those challenges bring us down, so instead, we made it our lesson to do more and to give our best. And that’s what we did.
Lecture Series
During the lecture series, I'd be honest, I really didn't get to understand everything in our seats. The University Convention Center was full of students, and we didn't have the chance to sit in our designated seats. However, I can say that the lecture was indeed informative and indeed gave us insights about the business world. What caught my attention was when the speaker discussed the dynamic of the start-up. It was mentioned that startups, which convert creative ideas into workable solutions, are becoming more and more significant to the world economy.
The speaker also discussed personal examples that demonstrate how entrepreneurs seize chances and overcome obstacles. Learn how entrepreneurs use copyrights, trademarks, and patents to safeguard their innovations. I was unable to hear the majority of what the speaker was saying when they discussed copyright legislation during the lecture.
If we're talking about experience, ever since I was in elementary school, we owned a grocery store. During the lecture series, I also learned that a grocery store is not a start-up. It's funny, yes. A start-up is a newly established business venture that is in the early stages of its development. In summary, a start-up is an enterprise that aims to achieve large growth and market influence by leveraging innovation, scaling rapidly, and managing substantial risks. It goes beyond simply being a new business.
It was fun. 😊
Thank you, Sir.
0 notes
Text
EcoBro- Reverse Vending Machine: 1st Final Blog-Journey After Pitching
At the beginning of every journey, there is a destination. An outline of the purpose, goals, and anticipated results should also be included in the opening of a venture proposal. Beyond a set of procedures, the venture proposal is a life-changing experience that puts our abilities, fortitude, tenacity, and self-assurance to the test.
When we last conducted interviews, we asked students at Central Mindanao University for customer validation for our product. Our product is a machine designed to collect empty plastic bottles and cans in exchange for coupons or money as a reward and will make use of the collected plastics.
We utilized the activity to get people's opinions on our proposed project and find out if they plan to use the machine when it is introduced on campus. We gathered data and made use of the collected data to work on our business model canvas for our midterm pitching. Prior to the proposal, we generate ideas by analyzing our target market, soliciting advice and comments from others, and enumerating the benefits and drawbacks of our offering. As we worked to align the project goals, teamwork and communication were very productive during the planning and preparation of our proposal.
A crucial step in the process was showing the panelists our goods during the pitching. Presenting the project's details was necessary, but so was clearly conveying its value proposition. In order to prepare for any possible worries or objections regarding our product, this meant emphasizing the advantages and strengths of our machine. During the pitch, our position was not favorable. They stated that our startup would not be profitable for both parties if we planned to sell the entire machine. When we proposed running the machine ourselves as our business model instead of direct selling, they replied that it's not a lucrative startup. They mentioned that it would require a high initial investment, that maintenance costs would be significant, and that it's not a money-making business.
We attempted to defend ourselves, but all they could say was that you should focus on making more money in business. Even our instructor helped us defend our pitching. Our first initiative in this journey involves interviewing people about the issues they are having on campus and then coming up with a start-up solution based on our findings. Our intention is to provide our projects to academic institutions and the government in order to reduce plastic waste and ensure that plastic and cans are disposed of appropriately. Yes, we considered our profits, and yes, we are aware that running this kind of business has many drawbacks due to the large initial investment and ongoing maintenance needed because we prioritize the sustainability of our product, which is what a civil engineer would do, not as a business-minded person.
We got the lowest grade in our pitching. It hurts, actually, with all the efforts we provide for this project. It hurts to see everyone in our group have regrets and feel bad saying that they didn't do their best. I know we really did our best to interview people in our free time, spend sleepless nights brainstorming ideas, providing solutions, and doing research about our project. But we can't do anything about it anymore, so we chose to move and promised ourselves to do better in finals.
Our instructor and the panelists provided us with feedback on how to improve our business model. After pitching, our instructor asked us to revise and improve our business model. Then, interview at least 10 people again for customer validation. Setting out on an interview is like entering someone else's universe; it's an exploration and learning process. In order to learn more and comprehend our project better, the trip begins with the first stirrings of curiosity and the need to hear other people's perspectives. It is incredibly beneficial to us that each interviewee has unique perspectives and thoughts. By adjusting to other personalities and communication styles, we develop our empathy and listening abilities. We are deeply affected by the interviewee because they provide a distinct viewpoint.
We got to interview 15 people, and 13 of them did say that they'd definitely use our product and give us positive opinion, and 2 of them disagreed with our ideas. This person is concerned about us, saying that it is not a profitable business since it needs a high initial investment and maintenance cost, just like what the panelist told us.
When we inquire about their opinions of our initiative, some of them provide us with constructive feedback. "One issue that worries us as prospective engineers is sustainability. Your inclusion of an eco-report is commendable. It's a good concept. If this is put into practice, I will definitely utilize it since I will feel responsible for making sure that my trash is being correctly separated. Furthermore, getting coupons or cash in return is a great way to encourage people to recycle more. You may sell your recyclables without having to visit stores or waste shops, and it also benefits you to be aware of what you throw away."
Although someone made a negative remark, it makes sense what he said. We benefited from it since we discovered our project's weaknesses with this method. We identified our areas for improvement. Because of the high expenses associated with labor transportation, electricity, and maintenance, a reverse vending machine at CMU would not be profitable. The vending machine is not able to make much money on its own because recyclers purchase the bottles. To obtain additional profit, the business should consider manufacturing a new product utilizing the resources gained from the vending machine, which would be marketed to the public.
The data we collected is somewhat similar to the first customer validation interview we last conducted. We received the same feedback as our start-up. We evaluate our performance and make necessary improvements to deliver a high-caliber product in light of their responses. We have broadened our perspectives and gained a deeper understanding of our reverse vending machine project overall, making the voyage a life-changing experience.
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EcoBro- Reverse Vending Machine: 2nd Blog-Journey After Venture Proposal.
Every journey starts with a destination in mind. Similarly, a venture proposal begins with a clear statement of its aim, objectives, and projected outcomes. The venture proposal is more than just a series of steps, it is a transformative journey that tests our skills, resilience, determination, and confidence.
Last time, we interviewed people around Central Mindanao University about the issues they faced on campus. We gathered data and made use of the collected data to decide on a project for our start-up. The project we decided on was a reverse vending machine. The machine is designed to collect empty plastic bottles and cans in exchange for coupons or money as a reward and will make use of the collected plastics.
We also used the collected data in our venture proposal presentation. Before the proposal, we brainstorm our ideas by understanding our customers, asking for suggestions and opinions from other individuals, and listing the pros and cons of our product. In the planning and preparation of our proposal, collaboration and communication with the team were very effective as we worked to align the project goals. Unfortunately, we lost someone from our team. It is so sudden, but we were so excited for the coming proposal to prove our point and our idea together with her. But we did not think of it as an end. Her loss and the hard work she put into our project won’t be in vain, we will continue to move forward and work on it until we reach our goal.
Public speaking is really not my thing. I always get nervous, and I even had a panic attack before, when I’m talking in front of everyone. So, I volunteered to make a PowerPoint presentation to be presented on the proposal, and I will continue to work behind them like a shadow. I don’t care if others think that I have no use or that my team took all the credit, because I like it that way. My team agreed, and they supported my decision.
During the proposal, presenting the proposal to our instructor was a pivotal moment in the journey. It required not only presenting the project details but also effectively communicating its value proposition. This involved highlighting the benefits and pros of our machine while preparing to address any potential concerns or objections about our product. We got good feedback, and we got compliments on our presentation. However, we are questioned about whether we can really build a prototype with the features we have mentioned. Yes, it‘s quite challenging, but we believe that through hard work and teamwork, we can do it.
After the proposal, we are tasked with interviewing individuals for customer validation. In this task, we are going to ask individuals about their insights on our proposed project and ask them if they will use the machine when this project is implemented on campus.
Embarking on a journey through the realm of interviewing someone is akin to stepping into their world—a voyage of discovery and understanding. The journey starts with the initial sparks of curiosity and the desire to know others insights about our project so we can gain knowledge and understand more about it. Each interviewee has different insights and opinions, which is really helpful for us. We learn to adapt to different personalities and communication styles, honing our listening skills and empathy along the way. The interviewee leaves a lasting impression on us, as they offer a unique perspective.
As we ask them about what they can say about our project, some give us positive insights. “As aspiring engineers, one thing that we are concerned about is sustainability. It is a good thing that you incorporate an eco-report. The concept is nice. And if this is implemented, surely I will use it because I will feel accountable for ensuring that I'm properly segregating my trash. Plus, being able to receive coupons or money as a reward is a nice incentive to recycle more. There is no need to go to junk shops or stores to sell your recyclables; at the same time, it helps you to be mindful of your trash.”
There’s someone who commented negatively, but what he said makes sense. It is an advantage to us because, in that way, we learned about the shortcomings of our project. We discovered where we are going to improve.
“A reverse vending machine in CMU would not be profitable due to the high costs of maintenance, electricity, and worker transportation. The vending machine alone cannot generate much profit as the bottles are sold to recyclers. To gain more profit, the business should consider creating a new product using the materials gained from the vending machine, which would be sold to the public. This would provide more profit than a vending machine that only collects bottles.”
As to his answer, we would like to add that our reverse vending machine is not just a machine that collects plastics. The collected plastics will surely be used to create another product like a plastic monoblock chair, and we could partner with the group whose product is a cement-plastic waste bench.
Based on their answers, we reflect on our shortcomings and will do better to improve and provide a good-quality product. Overall, the journey is a transformative experience that expands our horizons and deepens our understanding of our reverse vending machine project.
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GreenBro's Journey- 1st Blog
Embarking on the journey of entrepreneurship is akin to settling into uncharted waters. It is a thrilling adventure filled with excitement, challenges, and opportunities. In this blog, the team embarks on a journey of discovery, seeking out the perspective and experience of others as to what problems they have encountered or experienced to gain a deeper understanding that is helpful to starting a venture.
As the interviewing begins, each person the team encounters brings a unique viewpoint shaped by their background, beliefs, and experiences. Others enjoyed giving their answers, saying they have a lot on their minds; some can’t think of a problem they have encountered or experienced around the campus. What the team asks them is a compass guiding towards a deeper understanding they can use for a start-up. Unexpected anecdotes and moments of laughter and introspection punctuate the conversion. Of course, no adventure is without challenges. Some might feel intimidated as to why the team approach them. Though the team interviewed random people around the campus, they explained their motive and asked for permission to conduct the interview.
As the team gathered everything, the team collected different answers and insights into the question, “What issue(s) do you have or have experienced or encountered here on the campus? ”. Among everything that the team has gathered, the top two concerns the interviewee is raising are transportation issues and trash-related concerns. Transportation also has the most concerns among the students. On campus, students have the term “world tour” because they can tour almost every building before they arrive at their destination, which can also lead to them being late for class. And there’s no rela when students need them the most. On the other hand, trash-related concerns are the top-most concern among the interviewees on campus. Some answer, “Due to a lack of trashcans, others just throw trash anywhere. Some answered, “There’s no proper segregation of the trash," etc. We can't make the trash disappear forever; it exists long ago, in today's society, and in the future too. However, we can make solutions to lessen the waste and prevent waste pollution because any kind of waste can be harmful to the environment and to all living organisms that exist on earth.
In the realm of collaborative endeavors, decision-making plays a vital role in shaping the trajectory of a team’s effort. The team underwent a thorough discussion about the outcome of the interview. The team navigates the complexities of decision-making to arrive at a mutually agreed-upon topic to focus on, which is trash-related issues. Each team member provides their perspective and any solutions they can think of to address the issue that the team can use as a start-up. It's amazing how creative the team is, debating the pros and cons of the possible start-up they have in mind. The start-up they have in mind is Ecosorter, an app with wonderful features. When the team asks for consultation, it received a good response, and the team received a compliment. However, the problem is that who’s willing to take a risk to purchase the product? The team missed the idea of earning profit. The team proposed another idea for a start-up: the reverse vending machine. It is a device that accepts used or empty plastic bottles or cans and provides a reward or incentive in exchange for recycling them. It provides a convenient and rewarding way for individuals to dispose of their trash.
What the team learnt on this journey is that when starting a business, it is critical to consider alternatives that might deliver the same or even higher advantages for the service or commodity they are offering while spending less. They should go on a wide-ranging exploration to see what they missed.
In the end, interviewing them is more than just a task, it’s an adventure, a journey of discovery, connection, and understanding.
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