Venture

"Forming a team with distinctive abilities is seen to be formidable as every member suffices the lacking given that each have different area of specialization."

The team shared insights as to what approach is highly appropriate upon imposing satisfactory product or service to the target market. Several hypotheses speculated but only one thought was focused on; students in Central Mindanao University needed innovative products or services that will help them ease their daily endeavour. In order to test this, a survey was disseminated to the students of the said institution. Questions were open ended and part of it were further elaboration of their struggles for a more particular point of view. The goal was to affirm the feasibility of proposing certain products. The result stated top three problems students prominently encounter within the school premise. (1)Hectic class schedules resulting to no lunch breaks, (2) inconvenient note-taking, and (3) costly boarding houses as well as additional payment for appliances particularly flat iron. With these, the team have decided to come up with whether a product or service that corresponds to these problems without compromising the essence of a student-friendly costs. The team had decided to opt for another survey but with a more specified choices this time. In line with the top three problems, three products were also suggested; (1) a delivery app that has a variety of food choices, (2) a water and crease proof paper, and (3) a wireless, rechargeable, solar flat iron, all of which were based solely on the ability and capability of the team to provide. The survey asked its respondents to choose the most beneficial and the prevailing choice was subjected to a venture proposal. It was ensured that all the decision-making were based solely on the choices, insights, and preference of the target market and no data privacy was compromised.

Generally, upon witnessing how a venture proposal works, the pressure and uncertainty of pleasing the target market and how the product will be exposed to public scrutiny even before actually making it, realisations occurred; an entrepreneur is in another level of being able to accept criticisms both constructive and destructive. Congruence and connection between members of the team is fundamental to restrain possible failure due to miscommunication. The ability of an entrepreneur to tell a story is a great factor upon luring wide-range of consumers. Furthermore, it would also be beneficial having vision for innovation, passion, adaptability, and resilience whenever faced with ordeals all in all.