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My Journey in Entrepreneurship

Maria discusses her experience implementing a business plan as an entrepreneurship student. She found it challenging but a valuable learning experience, especially in marketing and financial management. Being part of a group of young entrepreneurs allowed them to develop a product idea and gain knowledge from each other's perspectives. The process of making their product, a brittle, from raw materials taught her new skills. A school activity gave them an opportunity to sell their product and handle customers, which helped develop their business and communication skills despite rejections. The whole experience helped bring out her entrepreneurial spirit and provided lifelong lessons.

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Maria Miguel
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180 views2 pages

My Journey in Entrepreneurship

Maria discusses her experience implementing a business plan as an entrepreneurship student. She found it challenging but a valuable learning experience, especially in marketing and financial management. Being part of a group of young entrepreneurs allowed them to develop a product idea and gain knowledge from each other's perspectives. The process of making their product, a brittle, from raw materials taught her new skills. A school activity gave them an opportunity to sell their product and handle customers, which helped develop their business and communication skills despite rejections. The whole experience helped bring out her entrepreneurial spirit and provided lifelong lessons.

Uploaded by

Maria Miguel
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Maria Victoria B.

Miguel
BSE 4A
BMENT 4

My Business Plan Implementation Story

As a student of Entrepreneurship, it was by far one of my interesting experience I’ve ever done.
It is not easy like you read it until you really undergo with it. It was like a testing ground for me
to apply all the knowledge I learnt in my 3 years in college. The learnings guide me all
throughout the process. The marketing and financial management were the major subjects which
put into test in the business.

Hearing successful entrepreneurs’ words always motivate me especially the way they started
their business. But having the experience to own a business motivate me more to do my best and
to do a business model canva. Business model canva for any business will help you be guided in
this business journey as its give you the summary of the plan you have built from the beginning.

Being part of the group of young entrepreneurs was added as an advantage to the business. As
everybody has a good vision and it was an opportunity to see an idea transforming into a product
and becoming reality. Apart from that this experience, I gained more knowledge through sharing
each ideas and business experience. I think each of the group blends well to develop the
business. As one of the important parts of having a business is to learn to work with different
people, with different perspectives. The people around the business will help you through the
success and lack of resources. With the money collected with your group mates, the business will
make out of it.

Making your own product from the scratch is another new experience I gained. I never had this
experience before starting from purchasing raw materials up to the packaging and selling.
Purchasing raw materials was the most crucial for me as pandemic happened all the materials
needed were quite pricey mostly the sugar and pumpkin seed, and it is the main ingredients that
needed to complete our product which is the brittle. However, during the cooking process is the
fun part, as we get to taste the products we cooked and critiquing our products until we get the
best and delicious brittle that ready to be packed and sell. Also, the taste testing is a good
opportunity for us, it helps us to improve the products.

The best part is the activity conducted by the school. The said activity is for us young
entrepreneurs to implement our business where we can show our products in the entire school.
As for us participating in this kind if activity is a big opportunity, it apply what I learn which is
the Personal Entrepreneurial Competencies. Through this , we were be able to handled the
massive buyers, test our skills in communication, giving the best services and products to the
customers, and by the constant rejection of the customers helps us mold into a mush stronger
personality the we shouldn’t take this rejection as a failure but make it a motivation to become
better. Through this activity our business mind has awaken and we decided to keep going and
creates more quality products. It has so much impact for us as we run into so much changes in
that week like changing our product into much more affordable for the student.

This whole lot of experience brought the entrepreneur in me. Apart from the experience I gained
it is also a lesson for me for a lifetime and would like to thank the people who helped me in this
journey. And probably someday I will be one of the future leaders.

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The pandemic presented real-world constraints that significantly affected the entrepreneurial process, particularly in terms of the cost and availability of raw materials. It forced the entrepreneurs to adapt by finding ways to manage inflated prices, specifically for key ingredients like sugar and pumpkin seeds. These constraints required strategic decision-making, focusing on cost management and resource allocation amidst limited supplies .

Participating in entrepreneurial activities helped the student view rejection not as a setback but as motivation to improve and become better. It fostered a stronger personality by conditioning them to handle constant customer rejection positively, shaping their mindset to see such experiences as learning opportunities rather than failures .

Taste testing was a critical component of the product development phase, ensuring that the product met customer expectations in terms of taste and quality. It served as an iterative feedback mechanism, allowing the team to fine-tune the recipe and make necessary adjustments based on critiques until the optimal product quality was achieved. This process was crucial in developing a product ready for market that was both delicious and desirable to customers .

Creating a product from scratch contributed to the entrepreneurial learning experience by providing practical insights into the complexities of product development, including raw material sourcing, production processes, and quality control. This hands-on approach offered invaluable lessons in managing the intricacies of business operations, and translating conceptual knowledge into practical outcomes, ultimately enhancing the understanding of end-to-end business processes .

The entrepreneurial activities provided learning experiences that emphasized the importance of customer interaction and feedback. These experiences were applied in enhancing communication skills, adapting the product to customer needs, and improving customer service. Skills gained were used to handle large volumes of buyers and refine the product based on taste tests and critiques, ensuring the delivery of quality products and services .

The entrepreneurial experience deeply influenced the student's future aspirations and self-perception by reinforcing their belief in their capabilities as a potential leader and entrepreneur. The challenges encountered and successes achieved instilled a sense of confidence and motivation to strive for more significant accomplishments, fostering a vision of themselves as future leaders in business .

The school-organized entrepreneurial activity had a profound impact on the student's business journey by providing a platform for practical application of learned theoretical concepts such as Personal Entrepreneurial Competencies. This experience enabled the student to handle real-time challenges like managing high volumes of buyers and refining communication skills, leading to personal growth and enhanced confidence, ultimately igniting a deeper entrepreneurial spirit .

The Business Model Canva served as a guiding tool for implementing the business plan by summarizing the entire plan from inception, keeping the entrepreneur focused on the key elements of their strategy. It helps in visualizing the business's potential and allows for constant refining and improving of the business model. It also aids in organizing and blending different ideas and skills within the group, creating a comprehensive blueprint for the business development process .

Working within a group of young entrepreneurs contributed significantly to the business development by fostering a collaborative environment where different perspectives and ideas were shared and harmonized. This collaboration allowed for the pooling of resources and diverse skill sets, which were instrumental in the creation and improvement of the product. It also provided a support system, enabling the group to overcome challenges together .

Personal Entrepreneurial Competencies played a pivotal role in transforming the student's approach to entrepreneurship by equipping them with essential skills in communication, customer service, and adaptability. These competencies enabled the student to effectively manage business operations, overcome challenges, and respond flexibly to changing circumstances. They supported the development of a proactive mindset that is essential for entrepreneurial success, underscoring the importance of resilience and continuous improvement .

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