Lesson Learned — Hero 11/15

by Patrick Bresnahan | Nov 15, 2019 | Conversation, Feedback

On Friday, we listened to several teams present their project. After the presentation, teams fielded questions and gave their responses. I want to make sure that everyone fully understands the importance of using questions and the responses to make changes to your startup.

Using the Hero presentation as an example, here are some important insights gained:

Here proposed that they would sell snack foods to build awareness of human trafficking by having youth people go to their website and read about the problem. Based on student responses, it seems that many students would not read about the problem. This was an assumption that the group held and obviously, if users are unwilling to read webpages, then a change must be made.

After talking with the team, it seems that they will rely more on social media to build awareness of the human trafficking problem as well as direct potential customers to the website.

In addition, if students are unwilling to read information from a website, then sales must come through another channel (BMC word). Here the team is considering alternative customer segment (BMC word) schools through fund rising efforts. This would give the team an opportunity to talk to students about human trafficking as a means of motiving students to raise money for their schools.

This highlights the need to have passion to toward a mission. Otherwise, it is much easer to give up. Without passion, entrepreneurial ventures will fail.

Key Term

Pivot refers to: changing some fundamental aspect of your business, whether it’s the product, the target market or your style of execution.