Business Plan Presentation
In the blink of an eye, we have completed the Business Plan Presentation for EcoTumble. It was indeed a great day of fun and learning, as we saw all the groups coming out with novel ideas for their businesses. It finally came to our turn to present what took a lot of ideation and planning to achieve.
15 minutes was a very brief moment to display all our ideas on the business plan. We believe we performed well. Nevertheless we are humbled to receive feedback from our classmates. Our product might not have a considerable comparative advantage and we might need to tweak this a bit. Mr Roderick mentioned a minimum order quantity which we could look into too. A classmate also mentioned that we might have too much marketing and we might want to streamline our marketing efforts so we will not be spending an overly substantial amount of our time just doing marketing.
Mr Roderick ended the session with an inspirational quote which we feel should be included here to serve as a strong reminder to us:
" When a business does well it may be due to luck if it does badly it is always due to you!"
That said, we decided that it is time to take action!
Therefore we have the next week well packed to push ourselves to let this business really succeed.
- NTU's startup homecoming - For us to discover what businesses out there are doing so we can also learn.
- Meeting up with Suppliers - For a business dealing with product, procurement is essential and we hope to do it as fast as we could.
- Website set up - For people to know where to reach us.
- Social Media Instagram was already created - we might want to focus on the quality of posts for now.
- Registration of LLP