Reflection (July 06, 2015)
Last July 6, 2015, we had our third meeting in our
Technopreneurship class. I and my classmates are already inside the IC Lab 1.
That day, pitching scheduled was settled. We are all excited to present our
unique and new ideas. Later on, our facilitator, Dr. Randy S. Gamboa showed up
and we are starting to get nervous as we look upon the face of our facilitator.
We thought that it was our first day of pitching but our facilitator, Dr. Randy
S. Gamboa, noticed that no one is ready to present because we are still making
our presentation. So he planned to use our time for lecture and
discussions. The schedule of our pitching was postponed to another day because
of what happened. Every one of us didn’t think ahead the requirements for
presenting or even ask our facilitator ahead of time. We thought that our
facilitator would be mad because we didn’t prepare our slides for presentation
of our ideas.
Dr. Randy S. Gamboa started his discussed with different
picture. We just had a lecture in continuation on what we’ve discussed last
meeting. All of the images were all connected on what’s happening in our
society. His lecture was very inspiring, educational and motivating. Our
topics were focused on our future job and on how are we going to handle it. Dr.
Randy S. Gamboa also taught us how to become a successful Technopreneur soon as
we go on our lives. Many of us are wondering on what will be the discussion of
our facilitator.
What
I liked most?
First, we discussed about the
Technopreneurship Ecosystem, the upcoming startup competition and the business model
canvass. Our facilitator, Dr. Randy S. Gamboa, first discussed about the
Technoprenuership Ecosystem and he gave us three different kinds of situations.
The first situation shown was a girl who cooked a food, the second was
constructing a “Bahay Kubo” or Nipa Hut and the last situation shown was a
person who was repairing his computer. As I perceived in the situations that
were shown to us, it were all about doing their tasks that should be done.
Before doing such things, we should have money to complete the ingredients,
materials, and tools as well as manpower to accomplish our work. It is just
like in venturing into business or should I say Technopreneurial ventures, we
should have the required prerequisite like resources, environment and support for
us to establish, to develop and to accomplish something in our business. Our
facilitator, Dr. Randy S. Gamboa, stressed out that H.E.L.F is one of the key
to be a successful Technopreneur. HELF is part of the Technopreneurship
Ecosystem. H in HELF stands for Human Resources. Human Resources includes
the researchers who thinks and generate ideas, innovators, developers that
develops and implements, technical individuals, marketing individuals, finance
individuals, and etc. In any kind of business it is really needed to have human
resources to run a business. The letter E in HELF means Environment Component.
Environment like an Incubator Center, PSI some Academic Institutions where
doing some research and development centers can be done, Internet Access, Geographic
Accessibility, Communication and many more services.
Environment component is very much important because
it will help us to foster our abilities and idea through science parks,
incubation centers and academic institutions. The letter L in HELF stands for
Laws and Policies. As what I have understood when I heard about laws and
policies, it is all about the legal services and rights that should be followed
and implemented in a venture and in all kinds of services. And the last letter
in the word HELF is no other than the letter F which it is stands for Financial
Component. In financial component, it comprises of a venture capitalists,
investors, business sectors and funding agencies. As our facilitator, Dr. Randy
S. Gamboa, said, idea alone does not make any money but instead we should
convert it into business, and because of that, financial components will really
help us. They are very much important when we engage in a business ventures
because they are the one who will support us in our ideas. When putting up a
business venture, it is not always a success that you will encounter. It is not
always pleasures and congratulations you will receive. There were always
difficulties you will meet along the way. All difficulties and troubles are not
that disadvantageous to us. In fact, these troubles will make us stronger and
braver. It will make us find ourselves who we really are when facing problems.
To be able to be an effective techonopreneur, we should know how to dream
because our journey of being a successful one will always start through
dreaming and aiming. If we want to achieve the success that we really aim for,
then we should be willing to move forward and take the opportunity. We should
not be afraid to fail because through failure will motivate us and it will make
us grow. Also, it will make us to strive hard and make us inspire to do the
things to avoid failure.
Business ventures were the one who has a big contribution in
terms of financial aspect. So these are the some important factors in setting
the goal. So the question is Why Techno? The very simple answer is that
Technopreneurship gives an opportunity to all who wants to have a business and
be an employer. In our generation, technologies have big impact in our lives in
fact it makes our lives worth easier. But how it will take long? There are
things that should be considered. First, is to construct an idea. There are
different ways in getting an idea like active search for a problem, or by
chance even with the experience we can make it. After gathering or
brainstorming of an idea, the best way to do it is to showcase it through
joining different competition and this is called the triggering event. It has
to be implemented and it will grow as follow. Basically, idea alone is not
enough; it needs to be on market. And idea alone cannot make money. It needs
dedication and hard work.
Second, our facilitator, Dr. Randy S. Gamboa,
discussed the business model canvass. According to Steve Blank, “It’s
basically a visual template that allows you to create a shared language and it
gets your idea out of your head onto the poster or a piece of paper to make it
crystal-clear. … You capture the idea, you tell the story very quickly on one
piece of paper. Then the Lean Startup comes in … you take this one piece of
paper and then immediately go test it out. You start rough, you test quickly
and you refine only when you have more evidence from the market that your idea
could work.”
As I have understood about business model canvas, it is really a big help for
those people who will establish their own business through their ideas. It is a
kind of startup template that could direct us on the things that we should do
in starting up a business. It has also a nine building blocks and each of the
building blocks has its own business functions. So this business model canvass
lets us analyze and scrutinize every distinct component of our business and it
allows us to evaluate the strong and the weak points of the business. In
addition, we can assess the development of the business. If ever I will have
the opportunity to establish my own business someday, I will definitely apply
this kind of tool because as I have understood on this tool, we must go through
the first building block before we will proceed to other building blocks or in
other words, we must take it step by step. Everything in the business model
canvass is a hypothesis, and if we take it gradually, we can formulate our
ideas and thoughts into reality.
Third, the part of the sharing that
I liked most is the business model. It is the one that gives me an idea that I
can be a creator of something new in the world. By the way do know what is
business model? Business model is a company creates value itself while
delivering products or service for customers. Also it has 9 components
which are the customer relationship, customer segments, channel, cost
structure, revenue dreams, key resources, key partners, and key activities. We
talk about the customer relationship. It is how we interact or engage with our
customers, and how are we going to make bond with them to build trust and
loyalty. It will be a helpful strategy to gain customers and make them want
your products again and again. Customers segment is one of the factors that we
need to focus. For example: You are selling luxurious cars and then you are
displaying it to a rural places and who is going to buy that expensive car?
That illustrates the meaning of customers segment in my own words. Next, is the
channel—it is how we are going to make those people know your products and how
it can benefit them. Cost structure is the one that balance your money and your
business.
A business model is the conceptual structure supporting the
viability of a business, including its purpose, its goals and its ongoing plans
for achieving them. At its simplest, a business model is a specification
describing how an organization fulfills its purpose. All business processes and
policies are part of that model. According to management expert Peter Drucker,
a business model answers the following questions: Who is your customer, what
does the customer value and how do you deliver value at an appropriate cost? A
business model is similar to a business plan in its makeup and
content. However, a business plan specifies all the elements required to
demonstrate the feasibility of a prospective business, while a business model
demonstrates the elements that make an existing business work successfully. The
benefits of business model documentation include maintaining a focus on
corporate goals, reviewing operational practices and ensuring that the two are
congruent. A representation of a company's business model can be incorporated
into public relations material and is useful to share with customers and
partners. A mission statement or vision statement may be
included in a business model. Traditionally, financial goals have been the main
focus of such models but business sustainability and corporate culture have
become increasingly integral to business plans in recent years.
The owners must estimate the cost of business that
they are going to take up or what business they can do with an amount of money
they have. Revenue stream is one who represents how to get or generate money
from your products. The ways that will generate money from your product like
selling t-shirts that have the photo of your products and many more ways that
we can make to have or produce money in a legal way not in an illegal way. Key
resources are the key to make the business model work and ready to sell. What
is the purpose of those peripherals that you spread if you do not have the
product to sell to the customers, right? Then, key partners are the one who
make the company moving and rolling to generate revenue. It also stands as the
function of the business to work properly with no hassle. Lastly, key
activities are the task that the company needed to succeed.
Lastly, the discussion was all about the start-up
business. Start-up is a temporary organization designed to search for a
repeatable and scalable business model. And business model is part of the
strategy. It describes and classifies the business or the product that includes
the value propositions, customer segments, channels, partners and etc. And that
is the business model search is the basis of the rest of the class. These are
some important tips for those people who want to build their own business. To
have an excellent marketing, it should have the timing. The basic understanding
of the start-up business and business model helps the individuals to consider the
possible output of their business.
Start-up is a company that is in the first stage of its
operations. These companies are often initially bank rolled by their
Technopreneurial founders as they attempt to capitalize on developing a product
or service for which they believe there is a demand. Due to limited revenue or
high costs, most of these small scale operations are not sustainable in the
long term without additional funding from venture Technopreneurs.
Also, our facilitator told us about the advantages and
disadvantages about startup companies and existing companies. A startup company
begins with a series of unknowns. They need to research to make their company
grow. Existing companies deals with execution of known usually if they have the
idea and sees it unique they will execute it or built it to make it their
products.
Many people have a vision of starting and running their own
businesses during their life-times. For many people, creating a product or
service that is enjoyed or utilized by customers will provide a very satisfying
sense of accomplishment. This feeling cannot be met at a job in which they work
for someone else. Nearly one million individuals start their own business every
year. Starting a business takes more than an idea. It takes certain kinds of
people and proper planning. It takes financial funding and hard work. I will
describe what it takes to be an Technopreneur and making the decision to be a
business owner for a career is a big decision. Before a person even attempts to
start a business, a person should decide whether or not he or she has the kind
of personality and skills to be a successful Technopreneur.
According to The Complete Idiot’s Guide to Starting
Your Own Business, If you like the stability of working 9 to 5, well stop that
because owning your own business means that you don’t have set hours because
you’ll be working close to 24 hours a day to get things going. This is a true
statement. Starting and running a business may very well take more work than
the average job of being an employee. The welfare of an Technopreneur will
depend on the success of the business. He or she will have to work hard to keep
it other than being a hard-worker, another trait a person should have is
passionate about their business. If you do not care about what you are
creating, you will probably not be successful.
I can’t imagine devoting so much time and effort
to something they don’t like. Obviously, a person better go into a business you
have a personal interest in and care about. Not only will that business owner
probably be unsuccessful, but they may end up making themselves miserable in
the process. Most business owners are also risk-takers who can make confident
decisions. Just starting a business is a calculated risk. During their first
few years, many businesses fold due to bankruptcy or poor planning. However,
you will not want to be the same kind of risk-taker as an impulsive gambler.
An Technopreneur must be able to take calculated risks and
only make decisions after they have studied and weighed all the choices.
Obviously, making hasty decisions for a business could end up putting a person
in the poor-house. So an Technopreneur needs to be a confident person who can
make good decisions. A person must have confidence because he or she will be
making many decisions regarding their business every day. Those decisions
include forming strategy for future success. According to Sue Anderson, You
should have vision. A person should need to know what they want to do with
their business and then find out how to get there.
Lastly, a technopreneur should have a solid foundation
in every major aspect of business management. A person who does not know
anything about business or business management will not be able to be a
successful Technopreneur. As Sue Anderson states, I also think a successful
business owner will most likely sell their products to the customers with
love.
Succeeding as an Technopreneur takes hard work and
persistence because, unfortunately, there is no business-startup fairy who
magically bestows success on small businesses and their owners. Most successful
Technopreneurs follow comparable
patterns and share similar basic characteristics. Hundreds of online articles and
published books claim to know the secret of success in business, but for the
most part, they boil down to the same major points.
Passion, perseverance and a positive attitude tend to
set successful technopreneurs apart.
What
I liked least?
There were things also in the
discussion that somehow I like the least. One of this is the Low Economic of
the Philippines in exporting compared to other Asian countries like Thailand,
Malaysia, Singapore, Hong Kong and Taiwan. As we continue our lecture of some
business tactics and strategy on how can we handle business ideas, we were able
to discuss some things that I really don’t like the most. The things that we
were able to discuss were the situation of some countries and what are their
status in terms of their population and economy. I was shocked when our
facilitator shares the rank of our country that the Philippines had a very
large population and it had only a very small amount of money in terms of
exportations of some good. I was shocked because Singapore had a very small
amount of population but they were able to get the very high rank in exporting
goods. I was amazed because on the situation of our country that the
Philippines must supposed to be one of the greatest exporting countries because
we were able to have a lot of people here that is willing to do the work. But
suddenly I was surprised because of the things that our facilitator that shared
that because of some people that are not contented with the things that they
are doing specially in term of salary distribution. I was upset also because of
the people that were able to have some rally and not be contented on what they
have. I was sad also because of the things I heard in our facilitator that some
of the big business establishments were able to leave the country move out
their business here because of the characteristic of the Filipino people. One
thing that I don’t like also on the sharing of our facilitator is the activity
that we have done in class. The activity was supposed to know if you have the
ability and capacity to become a true technopreneur. We were able to answer all
thirty two question and know if you have what it takes to become a
technopreneur but suddenly I were able to got a neutral result which means I
don’t have the skills and capacity to become a true technopreneur. I was sad
because of the things that I discovered to myself that maybe because of the default
mindset that I have all my life that I were not able to change it and overcome
it. I was sad also because it maybe take a lot of time to become a true
technopreneur and able to become a successful businessman.
According to the Philippine Economic Update, Economic growth
slowed down to 5.3 percent in the third quarter of 2014, due to weak government
spending on the demand side and agricultural production on the supply side.
Government consumption contracted by 2.6 percent while infrastructure spending fell
by 6.2 percent. Contributing to weak government spending are the Supreme Court
decision which found some provisions of the Disbursement Acceleration Program
unconstitutional, budget execution bottlenecks, and slow disbursement for
Typhoon Yolanda reconstruction. Despite the slowdown, more than a million jobs
were created in October 2014, although the quality of jobs remains a challenge.
The 2013 Annual Poverty Indicator Survey (APIS) finds that real income of the
bottom 20 percent grew much faster than the rest of the population. The survey
also confirms that the government’s conditional cash transfer program is
reaching the poor, as reflected in the substantial growth of domestic cash
transfers to the bottom 20 percent. Lower government spending, investment
delays and slowdown, and weaker exports are likely to limit economic growth to
6 percent in 2014 and 6.5 percent in 2015. Provided that government can fully
commit to utilizing the budget as planned, as well as accelerating reforms,
achieving growth of above 6.5 percent can be achieved. Translating higher
growth into inclusive growth can help the government achieve its poverty target
of 18 to 20 percent by 2016. Eradicating poverty requires a commitment to
implement key reforms in the areas of infrastructure, health and education;
enhancing competition to level the playing field; simplifying regulations to
promote job creation; and protecting property rights. Higher investments need
to be supported by tax policy reforms as tax administration reforms are
inadequate to fully fund the investment gap. Worsening port and road congestion
and possible power shortages in 2015 underscore the need to urgently raise
investments. Tax policy reform should aim for a more equitable, efficient
and simpler tax system. Reforms to strengthen tax administration and improve
the transparency and accountability of government are essential to make it a
success. Key reforms include the passage of the Freedom of Information bill,
which institutionalizes open data, enhancing budget reporting, and simplifying
tax procedures and processes. Higher investments in infrastructure, health, and
education need to be complemented by reforms to enhance competition. Essential
reforms include crafting and implementing a clear competition policy,
liberalizing key sectors of the economy to directly benefit poor Filipinos, and
opening up the economy to more foreign competition.
We can get rid of it by starting to have an innovation from
something fresh and unique ideas, and also by helping our countrymen in
producing and nurturing their abilities when it comes of thinking new ideas and
if then pursued; possibly it could help the economy of our country to boost in
the near future. On the other hand, our instructor discussed also the upcoming
startup competition in which we are required to participate. So before we can
participate in the event, we must present a proposal to our instructor and also
together with my classmates, they will vote for it if they are convinced in our
presented proposals. For me, it is really hard to think of an idea knowing that
Dr. Randy S. Gamboa, is a meticulous type of person. Even if my classmates will
vote yes, still the final judgment is in the hands of our facilitator. As our
facilitator said, we should think of an idea that could give a solution to the
“pain” or to the problems that we are facing in our everyday lives as well as
in our society. The idea should be fresh, unique and has a sense and can solve
the pain that we are dealing nowadays. I felt pressured and nervous if I could
be able to present a proposal that could satisfy the things that our
facilitator, wants. I think all I want to do right now is to focus, to do
serendipity walks and to observe the environment if there were things that
needs changes and improvements. With this, there is a possibility that I could
generate ideas and if I will be given a chance, I could now give a solution to
the pain I want to resolve.
Second discussion I liked least is the presentation of the
business plan. It is not because we are going to make a submission on scheduled
time but I am not sure of my proposal. I know that there are lots of time to
propose the proposal but what if all of my ideas will be rejected and the
deadline will end so what will I do? Wait for another year to finish the
subject and that was the thing I was afraid about. Also preparing a business
model is not simple we need to use all the nine element the business proposal
have and use it one by one. It is because it will not be called a business plan
if the nine elements are not used. A business plan is a written description of
your business's future. That's all there is to it--a document that describes
what you plan to do and how you plan to do it. If you jot down a paragraph on
the back of an envelope describing your business strategy, you've written a
plan, or at least the germ of a plan.
Business plan can help perform a number of tasks for
those who write and read them. They're used by investment-seeking entrepreneurs
to convey their vision to potential investors. They may also be used by firms
that are trying to attract key employees, prospect for new business, deal with
suppliers or simply to understand how to manage their companies better.
So what's included in a business plan, and how do you put
one together? Simply stated, a business plan conveys your business goals, the
strategies you'll use to meet them, potential problems that may confront your
business and ways to solve them, the organizational structure of your business
(including titles and responsibilities), and finally, the amount of capital
required to finance your venture and keep it going until it breaks even.
Sound impressive? It can be, if put together properly. A
good business plan follows generally accepted guidelines for both form and
content. There are three primary parts to a business plan.
The first is the business concept, where you discuss
the industry, your business structure, your particular product or service, and
how you plan to make your business a success. The second is
the marketplace section, in which you describe and analyze potential
customers: who and where they are, what makes them buy and so on. Here, you
also describe the competition and how you'll position yourself to beat it.
Finally, the financial section contains your income and cash flow
statement, balance sheet and other financial ratios, such as break-even
analyses. This part may require help from your accountant and a good
spreadsheet software program.
As what a famous line said “We must have courage to bet on
our ideas, to take the calculated risk, and to act. Everyday living requires
courage if life is to be effective and bring happiness.” –Maxwell Maltz. Every
one of us has the ability to think and to understand things around us. And
every time we think our brain react that causes our mind to think fast and to
understand things. We can get this idea through different manners from our
curiousness, trends and even from our experiences. If we practice ourselves of
thinking then basically, we can easily think of something that can solve the
problem of our society.
Every people in this world are
intelligent. No one is idiot. It will always depend on how we used our
knowledge and where do we use our ideas. Like on what Dr. Randy S. Gamboa said,
it is just like he shares his knowledge on us by doing things that people could
gain. His principle is indeed worth to be praised. He said it to our class that
he does not teach for living, he teaches us because he wants to share his
knowledge upon us and he also wants the lives of his students to flourish. With
his actions, I think and I am sure that every instructor wants also their
students to step out on our cage and face the world. They want us also to learn
and to be wise. For him, he don’t mind if his students are intelligent or not,
beautiful or not so, but what matter most to him is the attitude or the
student’s discipline. It is nonsense if you don’t have a good attitude to act.
Our attitude will reflect on who we really are and what we really are towards
other people.
Sir Randy taught us also to dream high and to keep our
dreams alive. Not to be contented as an employee but we should aim to own a
company. We should not limit ourselves in constructing different kinds of ideas
and be open minded on everything; thinking the advantages and disadvantages of
doing such things. To go beyond our boundaries and explore new ideas that could
help us in producing innovative ideas soon. We should expand our capacity to
think. I know that he wanted us to take those opportunities that will surely
help us and lead to us to a better future. And I am so lucky and it is also my
privilege having Sir Randy as our instructor because a lot of real talk lessons
from him I already had put on my mind. Although he always make punishments
on my late comer classmates, but still the lesson why he is doing this is to
teach us to be more serious and dedicated when it comes to our study. I could
always see lessons behind all the things he had done to us. I want to follow
his steps in helping the nation by sharing my knowledge to everyone and
pursuing to construct high technology ideas in order to promote
Technopreneurship in Davao, and even outside Mindanao. It is so nice to imagine
if I can also reach the things that Sir Randy has done to his life. I think a
lot of hard works and struggles I will face before I could achieve a bit of the
achievements of Sir Randy. It is funny to imagine that I have a plan to
be like a boy version of Sir Randy. But there is nothing wrong to imagine and
dream. It is just like I am seeking and wanting beyond the boundaries that I
know it is too far to happen from now. And, for me it is good because I have a
goal and perspective in life and I just want to apply the alternative mindset
on everything I will have done in the future.
Sir Randy challenged us to join different competitions. We
are all pressured. As a student, we handle a lot of pressures. Many people
imagine college as a simple time in life for students to be carefree and have
fun. In actuality, the majority of students are bogged down in school work
rushing to meet deadlines and cramming for exams. The school year can be hard
on anyone. Academic stress can build upon self-esteem issues, your family,
friends and even yourself. When not taken care of, your performance suffers,
your morale suffers, and life just suffers. Instead of being on the brink of a
constant freak out, grab life by the horns and get to relaxing. It may be
easier than you think. Therefore, this is normally a highly stressful period for
most people. Students face several pressures as they enter the college realm,
such as peer pressure, self-induced pressure, parental pressure, and economic
pressure. Peer pressure is the most common of these. Fellow classmates, dorm
residents, and friends around campus can be an enormous influence and can
interfere with one’s studies. Persuasion is the key tactic as they manipulate
others to go out with them to have a little fun. Partying and drinking
statistics are high among college individuals. This causes many of them to veer
off the right path and fall behind in school. Failing courses, losing
scholarships, and even worse, losing their self dignity become a few scares and
burdens upon them. Not only do they have to worry about what others may think of
them, but they also tend to worry about themselves. This is commonly known as
self-induced pressure. In our society, we have been taught to become the “best”
among those around us. We learn the importance of competition at an early age,
such as who has the best toys or clothes and who can run faster or climb
higher. We are generally judged predominantly by what we have or how we appear
on paper instead of as individuals. Because of this, students push themselves
to strive harder in order to have the best grades on their transcript, as
discussed by William Zinsser in his essay titled “College Pressures”. He
states, “The transcript has become a sacred document, the passport to
security.” Today, the majority of grad schools determine the best person to accept
by this sheet of paper. To cope up pressure, we need to learn to manage your
time more efficiently. We should also avoid procrastination which will lead us
to cramming.
In the end of the day, I
became more challenged and I was really motivated to pursue my dream to become
a successful Technopreneur. As what our facilitator said, we must not see
things as a problem; instead, we must see it as an opportunity. I guess, it’s
an opportunity for me to learn more about this subject even if I will not
receive the sweetest yes as an approval in the idea that I will present in the
class. It’s also an opportunity to practice myself and to be able to have a
thick face which I will use soon in many situations. And the most important
part of this is that the experience that I will earn which will be treasured in
my trunk of memories.
Reference:
http://www.worldbank.org/en/country/philippines/publication/philippine-economic-update-january-2015
http://www.exampleessays.com/viewpaper/15117.html?page=2
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