At our mock presentation in class I experienced how our product, FLUSHIES, presentation would be at the Dragon’s Den. Prior to the presentation was the preparation which involved time management and team organisation. In a team, time managements to arrange meet ups was a challenging factor as myself and my team members have jobs or other responsibilities. Consequently, excellent communication and coordination was required. We used different mediums such as WhatsApp group chat or Skype to communicate off campus, arrange meet ups or add further ideas/comments. Particularly from the presentation, I liked assessing my confidence and comfortability of presenting if front of a crowed. Although I have had many presentations throughout my education, it always feels like the first time to me where I have so much adrenaline and nervosity flowing through my body. What I always look for after a presentation is the reception of the audience as well as constructive criticism or praise. My group and I were able to arrange a scalable mock product idea which was positively received by the spectators. However, I and my group members were advised to enact better at presentations as it helps the audience understand more. Subsequently, I was very positive and confident about our upcoming product presentation at the Dragon’s Den.
Furthermore, we were presented the Lean Canvas Model by Ash Maurya, a different adaptation from the original Business Model Canvas by Alex Osterwalder for entrepreneurs throughout the start-up lifecycle. This model is more problem and customer relationship focused. Every start-up business product dedicated to a direct customer relationship should identify appropriate paths of finding a solution for the customer segment (Maurya, 2012). As the lean canvas is slightly different from the business model canvas, key partnership is not a priority if we are a start-up in the early stages, as displayed in figure 1 below.
Moreover, we looked at the Value Proposition Canvas which allowed us to examine FLUSHIES’s value proposition to our customers to capture their attention. In order to find out if our product is problem solving we analysed customer’s wants, needs and fears. Additionally, we considered the benefits, feature and experience our product will evoke in our customers. FLUSHIES is a new product of a start-up business, therefore we examined ‘’essential features’’ needed for product take off and ‘’nice to have’’ features when we are established in the long run. See figure 2 below.
Our key metrics is to provide a hygienic product which is environmental friendly and sustainable whilst using the WC for comfortability.
I learnt through the process of mock presentation that preparation is vital for success, whether for a presentation or meetings. Excellent communication is required for an efficacious coordination. Therefore for my futures self as an entrepreneur I will make sure to always prepare ahead and incorporate excellent communication skills for a fruitful outcome.
‘’ Why Lean Canvas vs Business Model Canvas?’’
‘’ Time management for teams’’
Maurya, A. (2012). Why Lean Canvas vs Business Model Canvas? – Love the Problem. [online] Love the Problem. Available at: https://blog.leanstack.com/why-lean-canvas-vs-business-model-canvas-af62c0f250f0 [Accessed 10 Dec. 2017].