Below you’ll find an overview of your current value proposition, seen from the eyes of the customer. The customers are ranking your value proposition on 6 different product specifications. These product specifications are a direct results of your VP-decisions. Moreover, you’ll find your current product-market fit.
Below you’ll find information about your customer segment. The higher your research score, the more you’ll uncover about the customer segment.
20. Did you make any changes to your strategy in this round? If yes, why? Our strategy is still to analyse our weaknesses and lowest scores. And compare them with our previous decisions to improve them. We usually narrow our previous decisions by adjusting the amount of credits and removing some components. In this round, we decided to gain more revenues by choosing a new source of profit “Subscription” in order to easily attract banks. We invested again in research to increase credibility. 21. Did you try to attract one or more sources of finance? Why (not)? As we had nearly 50% everywhere, we decreased some options to invest the remaining points in financial sources, such as “Bank loans” that costs 20! 22. Please evaluate the game experience for yourself and compare it with the learning objectives you had: what did you learn about entrepreneurship and in what way did the game help you in the learning process? This experience was enriching and taught us to work in a team under uncertain conditions. We also understood the entrepreneur’s daily challenges and risks they have to take and the responsibilities that come with it. The game helped us to develop our skills, for instance teamwork skills, oral communication skills during the pitching session which allowed us to have valuable feedback for the future. More importantly it gave us the opportunity to think like co-founders and to practice experiential learning. Overall, we also liked our product idea and we believed our project was reachable. Finally, we managed to agree on all decisions, and we showed great empathy towards each’s others point of view.
Our strategy is to work on our products specification by improving affordability and usability. Our marketing focus is now on making our product more visible and seem more viable. We are also looking to build credibility through the channels we are choosing strategically. Did you try to attract one or more sources of finance? Why (not)? Yes, we attract Angels and Venture Capitalists (VCs). They had different interests in terms of their investment requirements and would expect businesses to be in very different positions if they were to get involved. Angels and VCs are actively working together and forming strong and productive working relationships. Please evaluate the game experience for yourself and compare it with the learning objectives you had: what did you learn about entrepreneurship and in what way did the game help you in the learning process? This game is an incredible experience, which shows how hard it can be to make decisions in the uncertainty. We have learned how to work in a team and how to find a common ground with others. We also obtain knowledge of decision-making under conditions of limited resources and uncertainty. Besides, it was challenging for us to get our persona – and this is a real life thing, because your customers can be difficult to discover.
– Did you make any changes to your strategy in this round? If yes, why? Generally, no but we did make some significant changes to try and improve our risk score. Unfortunately, we have been coming in last place in the Risk and Creditability segments of the game, and in an effort to secure risky funding sources we realized we needed to improve our risk score. In an attempt to improve this aspect, we decided to invest into 2 factors we have never invested into before, which are Longitudinal Analysis and Scenario- Creation, and neglected factors we usually invest in. Longitudinal Analysis and Scenario- Creation are two factors that focus on the long term vision of the customer segment, as opposed to acquiring customers, which we have previously focused on. – Did you try to attract one or more sources of finance? Why (not)? Yes. Given the fact we are leaders in almost every product aspect, with the exception of affordability, we decided to invest in Acquiring Personal Funds, as that would be an almost guaranteed source of heartbeats. Secondly, we invested into Crowd-Funding as the deciding factors for this funding were all things we are leaders in (Design’, ‘Features’, ‘Acquisition’, ‘Attitude’) with the lone exception being credibility but this is only 1 of the 5 factors. Lastly, we decided to try and secure and Angel-Investor with our reasoning being very similar to the Crowd-Funding, we are leaders in Product-Market Fit’, ‘Design’, ‘Performance’, ‘Activation’, ‘Retention’, ‘Experience’, ‘Attitude’, yet lack the risk and credibility but again these are only 2 of the 9 factors. – Please evaluate the game experience for yourself and compare it with the learning objectives you had: what did you learn about entrepreneurship and in what way did the game help you in the learning process? Overall, we believe this game has taught us that being an entrepreneur involves making tough decisions, adapting to your results, and believing in your what you stand for. Although this only a game, we saw this more of an accurate simulation of a day-by-day life of a co-founder in a start-up, much like the learning objective “Experience thinking like a co-founder “. We took each decision very seriously, and although on the surface these small investments seem meaningless, actually each factor has a huge repercussion. Another vital aspect of the game we were able to learn from, was the daily feedback of the results. I truly believe that the learning objective “Give, receive, and assimilate feedback” was met. Being able to talk amongst our team and decide what went well, and what didn’t was good for building our team working skills. Everyday we had the chance to make important decisions that would ultimately impact our success. This also linked to the idea of “Working towards shared goal” as we needed to work as one cohesive team to efficiently and effectively make the right choices. Finally, drafting up written responses to the daily questions really cemented the methodology we had exercised during the game. The fact that we would “Document and record your (apprentice) experience of learning” everyday was a good way to reflect upon the decisions we had previously made and made us think why we chose to do something a certain way. This part of the game really turned it from a simple activity to a simulation.
Throughout the game, you’ll have the chance to increase your expertise on your key resources, activities and partners. The better your performance, the more likely you’ll be to achieve finance in the last round.
Below you’ll find an overview of your sales funnel and capital injections – a direct results of your investments in marketing & sales.
Below, you’ll find some extra awards that are handed out throughout the game and your overall EntrePulse.