What have I learnt?

by : NURUL SYIFA BINTI ABDUL RAZAK                  EEE110106

FIRSTLY, 

Okay, so what have I learnt in these past 5 weeks?
Before we start off any business, we must ask ourselves what is the problem facing in the industries.

A "PROBLEM"

- WHY THE PROBLEM

-PROBLEM HISTORY

-WHAT IS THE PROBLEM IN THE INDUSTRY

-WHO HAS THIS PROBLEM 

-WHY DOES THIS PROBLEM EXISTS

and try to find ourselves A POSSIBLE SOLUTION  to solve the problems using technologies
innovation.

Like what Bernard had mentioned in the lecture, "LENSE as EXAMPLE".

Earlier, in the past decades, humans are using these kind of lenses.

The first eyeglasses were made in Italy at about 1286, according to a sermon delivered on February 23, 1306 by the Dominican friar Giordano da Pisa (ca. 1255–1311): "It is not yet twenty years since there was found the art of making eyeglasses, which make for good vision... And it is so short a time that this new art, never before extant, was discovered... I saw the one who first discovered and practiced it, and I talked to him.

Then, human started to create eyeglasses with frame because humans have problems when it comes to

hold the eyeglasses. This is where the problem come, and human started to create something to ease themselves and make it more convenient.

Then, as time passes by, there are various of glasses with frames to choose.

But then, there are some people told that wearing glasses with frame makes us look ugly.

Therefore, human created something new which are "Contact lenses".

A contact lens, or simply contact, is a lens placed on the eye. Contact lenses are considered medical devices and can be worn to correct vision, forcosmetic or therapeutic reasons.

Now, since the contact lenses users have some problems with their lenses because when they sleep,
their contact lenses will be dry, and it will irritates their eyes.
Therefore, now, Scientists are inventing new solutions that have "lense power in it" which if
we put 2/3 drops of that solution into our eyes, we'll have perfect vision for 2-3 hours, then the
power will fade and we'll add another drops and our vision will be perfect again.

SO, in my conclusion of writing this post about lenses is that, we as an entrepreneur must make sure
what are the problems facing by the humans or industries and we must find a possible solution to that problem.

SECONDLY,

We must work as a team. "OUR AWESOME MATES"

Simple idea and Awesome people. 

WORK IN PROGRESS.

What we thought

What we did

What we found

What we  are going to do next

THIRDLY,

OUR BUSINESS MODEL

We MUST have our business idea. 

Our Problem Statement.

and the most CRUCIAL PART : 9 BUILDING BLOCKS CANVAS.

which is divided into :

1. Customer Segments – This building block defines the different groups of people or organizations an enterprise aims to reach and serve. Who is our  customers? Age? Demography?

2. Value Propositions – This block describes the bundle of products and services that create value for a specific customer segment. Value propositions are delivered to customers through communication, distribution and sales channels. What are the benefits does our customers gain from our product?

3. Channels – This block describes how a company communicates with and reaches its customer segments to deliver value propositions. How can we reach our final product to our customers? Advertising? 

4. Customer Relationships – Customer relationships are established and maintained with each customer segment. This block describes the types of relationships a company establishes with specific customer segments.

5. Revenue Streams – Revenue streams result from value propositions successfully offered to customers. This block represents the cash a company generates from each customer segment – costs must be subtracted from revenues to create earnings. How much is the additional revenue could we make from our products?

6. Key Resources – Key resources are the assets required to make a business model work. It requires physical, intellectual, human and financial. Which the physical consist of physical assets.

7 Key Activities – These work by performing a number of key activities. This block describes the most important things a company must do to make its business model work.

8. Key Partnerships – Some activities are outsourced and some resources are acquired outside the enterprise. This block describes the network of suppliers and partners that make the business model work. For example, credit card companies? courier services? social networks?

9. Cost Structure – The business model elements result in the cost structure. Cost driven and Value driven, which if we are using the cost driven, we are minimizing at the lowest cost.

• EASY ILLUSTRATE HOW IT MAKES FINANCIAL SENSE
• SHOW ALL PROJECT MEMBERS IN THIS VISUAL WAY BOTH THE BIG PICTURE, (THEIR IMPORTANT OWN ROLES IN IT) AND THEIR INTER-DEPENDENCIES. 
• TRANSLATE BUSINESS PLANS TO BUSINESS PROCESS
• REALITY CHECK
• REMINDS THE TEAM TO THINK HOLISTICALLY BOUT THEIR BUSINESS AND PREVENTS FROM GETTING STUCK ON DETAILS.
• ESTABLISH A COMMON LANGUAGE AND FRAMEWORK WITH COLLEAGUES.