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The First Step

posted 21 Oct 2015, 21:38 by Lakhotia Suyash   [ updated 1 Nov 2015, 06:54 ]
"Why climb the corporate ladder when you can build an elevator in your own building?"

The time has finally come. After spending a month of summer on four of the most interesting modules I've taken at NTU, it's finally time to apply all the knowledge that we have learned about entrepreneurship in a venture of our own.

The business idea that we have decided to explore is something that we have been working on since mid-August. It is an online platform that allows local students to put up short trips/events for exchange students in order to provide them with a more authentic, local experience. However, our venture is more than just an online platform. What we intend to create here is a movement that changes the way students interact with each other in Singaporean universities in the hopes of a much more cohesive environment. After a lot of discussion about our company's core qualities and the terms we want associated with our platform, we decided to call our company on the 19th of August.

Over the past week, the team has been working hard ironing out the details needed for our business plan and conducting a feasibility study with the help of surveys as well as a mock event. We are now in the midst of writing our business plan and will be creating our deck for the business plan presentation as soon as the team agrees on the content for the business plan everyone has come up with according to their respective roles.

Apart from the formalities needed for the course, we are also working hard on building a realistic timeline for the company, which we will use to keep a check on our progress. We are also deciding on our branding material as this will define how our marketing materials and online platform will eventually look. It is very important that we choose a logo that reflects the qualities we want this company to represent as well as be something that our customers can easily recognise and relate to. While our initial logo (attached to this post) reflects the purpose of the company well, the key qualities of the company are not effectively portrayed. Thus, Ernest is now working on a new logo for our company and I'm excited to see what he has in store for us.

Alright, time to get back to work on the business plan. As Robert Frost famously said, "I have promises to keep, and miles to go before I sleep".
Lakhotia Suyash,
21 Oct 2015, 21:51