Below you’ll find an overview of your current value proposition, seen from the eyes of the customer. Also, you will find an Expert Review of your proposition based on 6 different specifications. These product specifications are a direct results of your VP-decisions. Also, 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.
1. change of strategy: – we focused more on credibility by decreasing our point in Value Proposition and increasing in the Customer Segments. We also focused more on obtaining finances by choosing the profits that work with our product and results. 2. sources of finances: we increased more sources of finances as our R&D and other cost are relatively high. We focuses on increasing our sources of finance through bank loans and angel investments as we have a good sales pipeline, good knowledge, a very good attitude and good skills. 3. Evaluation: – Our group worked a lot on team working as we had a lot of conflicting ideas and hat to settle on the majority of decisions in a diplomatic way. Each rounds we evaluated areas that are lacking in and tailor made our product to our persona.
1. Did you make any changes to your strategy in this round? If yes, why? For this round we focused more on affordability in the value proposition because our affordability rate was very low, and we tried to implement the feedback we received. 2. Did you try to attract one or more sources of finance? Why (not)? Yes, we chose an angel investment in order to receive guidance from a more experienced venture and amount of money that is needed for a start-up like ours. 3. 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? • Teamwork • Entrepreneurial skills • Hands-on experience, practical and useful • We realized that the amount that’s needs to be allocated and encountered is bigger than expected • The adaptation of strategies in different situation • Competitive behavior in the market, which is essential to be considered in the business world.
• No we didn’t changed the strategy and stayed with the stragey of the previous round which is to totally concentrate on the persona. Why ? Because it worked, we’re now, for this round, top 1 in the Heart beat • Yes, we’ll try to attract investors be putting credits in Angel. Because our product is already existing but we need to improve the premiumness of our product • 3. The Game was surely very challenging and sometimes exhausting..Our team saw both highs and low which was a good learning experience as in real life we will have days of ups and downs. We had differences intially to work together but at the final day of the game, we can say we wouldn’t have asked for a better team. o Our team learned to: o 1. Work under pressure o 2. Coordinate the differences of the team o 3. Perseverance o 4. Decision making o 5. Calculated risk taking
Did you make any changes to your strategy in this round? If yes, why? We changed our strategy to increase value proposition investments. We also changed which customer segments we were investing in and increased investments in certain areas. We didn’t have to invest in the team resources as we have reached 100%. Did you try to attract one or more sources of finance? Why (not)? Yes, we did attempt to attract multiple sources of finance. The four we selected were: acquiring personal funds, acquiring funds from FFF, acquire a bank loan, and acquire venture capital. We selected each of these since we have high product market fit, top 50% of attitude, and affordability. We didn’t choose to invest in the angel investment since they take heartbeats… 🙁 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? The game was fun. It also was confusing and challenging at times. We learned to evaluate at each stage and pivot strategies. That it’s ok to change up your strategy if it’s not working. We learned that in entrepreneurship we will need to carefully evaluate financing. Value proposition is very important as well as research of your customer segments. You can have good product market fit but this does not always mean you will have high revenue.
What is your strategy for the last two rounds? Our strategy is to invest more into customer relationships and channels. We are going to invest the right amount in marketing & sales. We will focus more on direct marketing than online marketing because our target group is not really familiar with technology. Besides that, we will invest more in the relationships, partners and resources because these are our strong assets. Is your strategy internally consistent? In other words: are there team members who believe a different approach might also work? In general we are internally consistent with our strategy. Although, after a few rounds we decided to change our product idea a bit so we could focus more on our specific target group. Describe your marketing strategy. What is your prognosis for sales? We are focusing in spreading press in the hope that conventional media will pick it up. It helps our business get its story in front of the people who are most likely to write about it. Besides that, we are focusing on affiliate marketing and sponsorships. With affiliate marketing, we can basically “sell” our service via other websites. Sponsorships are also important for us, because our company is all about connections. We have to look for interesting people who want to sponsor our service. What growth strategy would you like to use? How are you going to scale up? We want to start with offering a small range of destinations, and if our target group/community responds well, we can offer a wider range of destinations. What are your current unfair advantages compared to the other teams? Why do you believe they are unfair advantages? Our current unfair advantages compared to the other teams is that as a travel agency we really focus on the inner growth of our customers. We truly care about our customers. Our competitors do not focus as much on this aspect as we do. They care more about the design and affordability of the products, while we are focusing on researching our customers. What are their needs and wishes? and how can we adapt on these?
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.