Bhavya Jha

  • A way to gain popularity is to first promote it in your family, the extended, then a few friends, etc.
  • Even your worst product will resonate with someone in the world
  • Every once in a while, a new technology, an old problem, and a big idea turn into an innovation…

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Fundraiser

  1. Why
  2. Why now
  3. Why you
  • Read a lot of pitches - find the most attractive features
  • Find simple, powerful pictures, instead of using many words throughout the slide
  • Think of awesome punch lines
  • Rehearse your pitch deck a lot
  • Be charismatic

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Lessons I learned:

  1. Train your mind to do difficult things. It is important to learn to do hard things now so you get used to it and it doesn’t become overwhelming later on.
  2. Go all in. You need to understand that being an entrepreneur is extremely challenging and it can have a huge impact on you and your relationships. Once you start, don’t ever give up.
  3. Learn from your mistakes. Keep improving your product. Don’t get disheartened by ‘no’s. They will help understand your flaws and will take the product one step closer to success.
  4. Every day will be uncertain. Get used to it.
  5. Learning to communicate efficiently is crucial.
  6. Start your pitch with Why. Why do you want to do it?
  7. An MVP is the simplest idea to represent your product.
  8. Start with a base and make sure each improved prototype is independently useful.

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Business Model - a basic structure of the business. It gives you an idea of what the business needs to start and why customers should care about the product.

Components of a Business Model

  1. Customer segment
  2. Customer relationship
  3. Channels
  4. Value propositions
  5. Key activities
  6. Key resources
  7. Key partners
  8. Cost structures
  9. Revenue streams

I realised that just interviewing people based on age groups wouldn’t be the best move what I should do instead is to see how many people who actually use pen and paper would…

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Importance of Market Research:

  1. To understand if your product is useful
  2. To make a product that is more attractive for consumers
  3. To understand more about your competitors

Types of research:

  1. Primary - collecting data yourself
  2. Secondary - collecting data that has already been published

Types of primary data:

  1. Surveys - largest sample size
  2. Interviews - most empathy, easier understanding
  3. Focus groups…

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