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Most formative experience:
It is difficult to select just one formative experience- there were so many! To narrow it down, I’ll mention three assignments that left an impression with me.
- Your ventures unfair advantage: this assignment really humbled me and me realize that there are not many inimitable, no-substitutable resources. I also appreciated reflecting on my experience and reflecting over the previous years of my career
- Creating a customer avatar: I really liked how this exercise made the customer more real and brought conceptual thoughts closer to reality and made it easier to relate.
- Testing hypothesis: this was especially helpful and made me really focus on what the customer needs really are and what their relative priority was for them.
Overall, I will remember to always focus on the customers unmet need and challenge myself to validate its an idea worth pursuing using the VRIN framework. Most importantly, I am prepared to fail frequently and swiftly iterate ideas to progressively improve them.
Most joyous experience:
Completing the Venture Concept assignment was the most rewarding for me. Pulling it all together and feeling like I had a great concept that may actually be viable and was admired by professionals in the industry made me feel very proud.
Closer to developing an entrepreneurial mindset?
This class taught me to take failure and turn it into learnings by constantly seeking feedback and talking to prospective customers, competitors and networks associated with my offering. The power of my networks can help solve problems and propel the awareness of my offering and customers will hel p me stay laser focused on what’s critical and valuable to them.
Recommendation to the students who are going to journey down this path:
For new students, I recommend paying attention to detailed instructions and staying ahead of the due dates. This class has many assignments and will keep you very busy. Once you appreciate the parallels to entrepreneurship about half way through the class, it will all make sense. This class is tremendously valuable and relative to entrepreneurship.
Hello Mario,
ReplyDeleteWe share the same joyous experience where we both are incredibly proud of raising our concept from the unmet need that we identified around us, and developing into this complex and cohesive concept of a legit business. Also, the concept of failure is something that this class gave me a new perspective at as well. I hope your vision as well as your business continues to flourish.
Hello Mario,
ReplyDeleteIt's been a joy seeing your ideas come together into a realistic and well-thought out plan for reality. I agree that staying ahead of due dates is important. Managing one's schedule and not leaving things off to the last minute is important. Emergencies can happen at any time - whether serious or trivial ones - and no matter what, work must still be done and completed on time. As such, it's best to get things done as early as possible as to prepare for any circumstances that may arise. This translates not into how we worked in this class but how we will continue to work in our businesses in the future.
Hey Mario,
ReplyDeleteThroughout this summer, you have been quite a great peer to review. Your assignments were always very well done and gave me a lot of information to contemplate and sift through. Your last point is definitely a vital piece of info for new students, since those pesky due dates and small details might be what ruins someone's chance of getting the A. Also, this class is extremely valuable to any aspiring entrepreneur, since it shows you how to properly think like a successful entrepreneur.