Embedded Files
Business Proposal
Pre-logo
Pre-proposal #StrategisingTime
Pre-proposal #StrategisingTime
10 October 2021 - 15 October 2021
To start off our project, we split our roles to different sections to finish up on our proposal. I have been tasked to complete the Marketing aspect (Marketing Segmentation, Competitor Analysis, Marketing Plan and Project Roadmap).
As I'm taking a module on Marketing Innovation right now, I've incorporated the theories learnt (e.g., Positioning-Differentiation Triangle) to help with our Marketing. Really thankful for this course as a lot of it is relevant to my Marketing role! Since I specialise in Risk Management, I volunteered to do up a Risk Management portion so that we get a better picture on what the potential issues are and how to mitigate those risks. As for our site, the About Us, Marketing Segmentation, Project Roadmap and Risk Management portion. I also tried to do up our logo and Kelvin helped to improve it further by adding a Terrarium to it!
Overall, it was pretty enjoyable planning for a feasible business idea. The late nights (or mornings as we've all stayed up till 6/7AM trying to juggle our tests and planning for the presentation with limited time) brought together a more united team as we bonded over other topics while working towards this presentation. I'm thankful for my teammates' contributions and comments into making this business venture a successful one, and look forward to the weeks ahead!
Presentation day!
Presentation day!
16 October 2021
Today was the Business idea presentation for all the respective teams, and we woke up early to prepare for it.
I noted down feedback that my team got and developed several pointers to propose after our presentation when we had a group meeting.
I learnt a lot from other group's presentations and took note of their key takeaways as well. Also, I asked questions to help evaluate the feasibility of their idea and provided feedback and ideas.
My team spent the past week (and a lot of late night calls) to make sure that we will be well prepared for this presentation. Mr Roderick gave us some comments after our presentation too. Namely, to ensure that: 1) we understand well on how our Terrarium can help with mental wellbeing, and 2) we are well-equipped in this field so that there won't be any issues when executing.
As I've been looking through projects from past MiE batches, I tried to incorporate relevant issues to our Risk Management section. That being said, there are more problems that can be identified but I've decided to incorporate only the ones which I felt were our main issues due to page limitation and at the same time keep track on all our other issues identified and make sure that they will not be repeated. For instance, if our suppliers send raw materials which are of lower quality than promised, we can mitigate this by sourcing from credible ones, and have order samples to make sure that the product is on par with our projected quality.
After our presentation ended, we decided to have a team meeting to look at how we can progress. I'll be working on doing more market research to get more insight on our product with our target audience.
Some challenges faced was 1) not knowing which type of plant to use for our standard terrarium, and 2) ensuring that whatever was planned out was executable by all of us during the respective months.
For the first challenge, I'll do more market research on it to find out more about the type of plant people prefer and share it with my team members.
For the second challenge, I made sure to take into account our exam dates and plan accordingly. For instance, sourcing for suppliers this month so that there will be enough time for us incase anything goes wrong while also taking into account things like our exam dates or the supply crunch in China.
A snippet of what I did!
A snippet of what I did!
Business Action Plan
Beyond ET9135
Beyond ET9135
TLDR: Takeaway is to embrace a guerrilla marketing mindset and the principles of effectual thinking.
Apart from learning how to build and navigate strong teams, I believe that the skills we will attain from this project will enable us to take what we're learning outside of class.
Even with my specialisation in Risk Management and background in Information Technology, through all of this, I'm able to understand for instance the logistics process of starting a venture. This, paired with my background, allows me to give my inputs to a little of everything. After this project, when I eventually start my own business, I'll be more confident in knowing that I know enough and that I'm able to continue to learn.
I will end this post with the following quote:
"None of us is as smart as all of us"
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