Carol-Entrepreneurship-Self Assessment

Week 1 - Revenue Streams: July 15 - July 23

Overview of Things Learned:

Technical Area:

  1. Types of revenue streams
  2. Types of pricing, how market type affects it
  3. Business model canvas
  4. Revenue stream validation

Tools:

  1. G-Suite
  2. Trello
  3. GroupMe

Soft Skills:

  1. Global collaboration
  2. Team building through ice breakers
  3. Punctuality at team and subteam meetings
  4. Public speaking

Meetings Attended:

  1. 7/15 Team Meeting 1 (Introduction)
  2. 7/16 Team Meeting 2 (Revenue Model)
  3. 7/18 Team Meeting 3 (Trello)
  4. 7/20 Subteam Meeting 1
  5. 7/22 Subteam Meeting 2
  6. 7/23 Revenue Streams Presentation

Tasks Done:

  1. Set-up Trello account and got acquainted with software
  2. Organized subteam meetings via GroupMe + added to calendar
  • Hurdle: subteam members are across 3 different time zones and have different scheduling conflicts
  • Resolution: Sent out a when2meet to organize regular meeting times (subject to change if needed)
  1. Determined value proposition and maintenance of customer relationships for our chosen revenue stream (shown below)
  • Hurdle: Because we divided the sections of our business model canvas amongst subteam members, we became experts in our assigned sections and not others
  • Resolution: After completing our respective sections, we scheduled another meeting to go over the work we did and ask each other questions, ensuring that each member understands/agrees with the work done by other members
  1. Synthesized work with team members’ to create full business model canvas
  2. Created presentation template to be used for all deliverables (development of personal subteam brand)
  3. Presented revenue stream proposal to full team and Stephanie

Achievement Highlights:

  1. Coordinated subteam meetings considering each member’s time zone and scheduling conflicts
  2. Pitched revenue stream idea to subteam, which was ultimately used and expanded on in our all future deliverables
  3. Awarded most concise and organized presentation by team leads

Goals for Upcoming Week:

  1. Understand tools used in competitive analysis
  2. Apply competitive analysis tools to STEM-Away and chosen competitors
  3. Present information to team and Stephanie
  4. Be comfortable with asking questions about material as they arise

Week 2 - Competitive Analysis : July 24 - August 1

Overview of Things Learned:

Technical Area:

  1. Identifying competitors
  2. Competitive analysis tools
  • SWOT analysis
  • PEST analysis
  • Position map

Tools:

  1. G-Suite
  2. Trello
  3. GroupMe
  4. SCRUM

Soft Skills:

  1. Project management
  2. Effective communication
  • Active listening to team member findings/concerns with material
  • Asking questions to subteam members and team leads as necessary
  • Quick response rate
  1. Punctuality at team and subteam meetings
  2. Research
  • Understanding STEM-Away’s product, strengths, weaknesses, business model
  • Understanding competitors’ product, strengths, weaknesses, business model and how they compare to STEM-Away’s
  1. Adaptability
  2. Public speaking

Meetings Attended:

  1. 7/25 Team Meeting 4 (Competitive Analysis)
  2. 7/27 Subteam Meeting 3
  3. 7/28 Subteam Meeting 4
  4. 7/30 Subteam Meeting 5
  5. 7/31 Subteam Meeting 6
  6. 8/1 Competitive Analysis Presentation

Tasks Done:

  1. Organized subteam meetings + added to calendar
  2. Ensure that all subteam members are on the same page at the start of each meeting
  3. Laid out agenda at the start of each subteam meeting, ensuring that team members agree with prioritization of tasks
  4. Asked subteam members and team leads questions about technical content as they arose
  5. Performed SWOT analysis on STEM-Away based on current product and proposed revenue stream
  6. Researched and performed SWOT analysis on competitor, the Intern Group (shown below)
  7. Created summary table with team showing comparison of STEM-Away and each subteam member’s chosen competitor
  • Hurdle: Due to scheduling conflicts, not all team members’ individual competitive analyses were completed by the time we wanted to consolidate our findings
  • Resolution: For future deliverables, the team set more definitive deadlines on when tasks should be completed and also encouraged each other to communicate any barriers to task completion
  1. Presented competitive analysis to full team and Stephanie
  • Hurdle: While the majority of our presentation was practiced, there were miscommunications on how certain slides would be presented
  • Resolution: While this was a great lesson in quickly adapting to a situation, we devoted time prior to the each of our future deliverables to go over what would be said

Achievement Highlights:

  1. Led team in creating a completely visuals-based presentation by providing chart templates and showing example of how to present competitor data
  2. Synchronously performed SWOT analysis on STEM-Away with team, allowing us to be clear on which parts of STEM-Away we want to emphasize when comparing with competitors
  3. Regularly updated personal daily standup on subteam Trello board and reminded team members to do the same to ensure team leads and subteam members are aware of each other’s progress

Goals for Upcoming Week:

  1. Understand different marketing techniques based on target audience
  2. Create a marketing piece that is geared towards university administrators
  3. Collaborate with team to develop monthly social media calendar for STEM-Away, taking into consideration how audience demographic changes based on social media platform
  4. Ensure all team members are on the same page regarding our plans for our deliverables

Week 3 - Marketing: August 2 - August 7

Overview of Things Learned:

Technical Area:

  1. Product-market fit
  2. Market size, choosing audience to market to
  3. Go-to market strategy
  4. Marketing calendar

Tools:

  1. G-Suite
  2. Trello
  3. GroupMe
  4. SCRUM
  5. Canva

Soft Skills:

  1. Project management
  2. Effective communication
  • Active listening to team member findings/concerns
  • Asking questions to subteam members and team leads as necessary
  • Quick response rate
  1. Adaptability - ability to change plan to complete deliverables based on team members’ schedules outside of internship
  2. Research
  • Which platforms should be used to market to particular customer segments?
  • How do different customer segments interact with these platforms (e.g. time of day, types of posts most likely to be engaged with)?
  1. Strategic Thinking - Develop ideas for marketing pieces and structure of posts for social media calendar based on research done for each customer segment
  2. Creativity - Each subteam member created a different type of marketing piece intended for a different customer segment
  3. Growth mindset - taking constructive feedback and using it to improve
  4. Public speaking

Meetings Attended:

  1. 8/2 Team Meeting 5 (Marketing)
  2. 8/4 Marketing Talk w/ Katie
  3. 8/5 Subteam Meeting 7
  4. 8/6 Subteam Meeting 8
  5. 8/7 Marketing Presentation

Tasks Done:

  1. Organized subteam meetings + added to calendar
  2. Ensure that all subteam members are on the same page at the start of each meeting
  3. Laid out agenda at the start of each subteam meeting, ensuring that team members agree with prioritization of tasks
  4. Created email newsletter for university administrators including overview of STEM-Away (with words from Debalenna), student testimonials, upcoming events/ways to get involved, and a method for contact (shown below, select pages)
  5. Developed 7 different marketing ideas intended for university administrators for social media calendar, carefully considering when university administrators would most likely be looking at their email, LinkedIn, etc.
  6. Presented marketing strategy, including marketing pieces and social media calendar to full team and Stephanie

Achievement Highlights:

  1. Learned how to use Canva
  2. Created email newsletter about STEM-Away for university administrators using real testimonials (from Debaleena and past interns)
  3. Completed personal sections for deliverable in a timely manner despite having deadlines for projects outside of STEM-Away this week

Goals for Upcoming Week:

  1. Create a LinkedIn ad
  2. Come up with SEO strategy for STEM-Away
  3. Put together customer survey for current STEM-Away students to understand their experiences and further validate our revenue stream proposal

Week 4 - Marketing II: August 8 - August 14

Overview of Things Learned:

Technical Area:

  1. SEO
  2. Keyword planning
  3. LinkedIn marketing
  4. Conducting customer surveys

Tools:

  1. G-Suite
  2. Trello
  3. GroupMe
  4. SCRUM
  5. Google Keyword Planner
  6. Google Trends

Soft Skills:

  1. Employing entrepreneurial mindset
  2. Project management
  3. Effective communication
  • Active listening to team member findings/concerns
  • Asking questions to subteam members and team leads as necessary
  • Quick response rate
  1. Strategic Thinking/Prioritization - As there are infinitely many keywords that can be used in our keyword strategy, we thought about which would give us the greatest reach for the lowest price and observed trends (e.g. more students taking a gap year due to COVID-19)
  2. Public speaking

Meetings Attended:

  1. 8/8 Team Meeting 6 (Marketing II)
  2. 8/11 Subteam Meeting 9
  3. 8/12 Subteam Meeting 10
  4. 8/13 Keyword Planning Overview
  5. 8/14 Marketing II Presentation

Tasks Done:

  1. Organized subteam meetings + added to calendar
  2. Ensure that all subteam members are on the same page at the start of each meeting
  3. Laid out agenda at the start of each subteam meeting, ensuring that team members agree with prioritization of tasks
  4. Created text-only LinkedIn ad for students, highlighting STEM-Away value proposition and a means to learn more about how to get involved (shown below)
  5. Brainstormed customer survey questions with team
  6. Compiled list of keywords to use for Google Keyword Planning sheet
  • Hurdle: Unable to create account without entering payment information
  • Resolution: Initially explored other free keyword planning tools but ultimately sent list of keywords to Vrinda to be used in Google Keyword Planning since other tools were not as exhaustive
  1. Created SEO strategy for STEM-Away with team, taking responsibility for: meta-description, URL structure and backlinks (shown below)
  2. Presented SEO strategy, LinkedIn marketing pieces, non-conventional platforms that STEM-Away can use to market to full team and Stephanie

image




Achievement Highlights:

  1. Ability to explain different SEO strategies and their benefits to subteam members as questions arose
  2. Learned about different keyword planning tools and how to determine which keywords to actually use
  3. Created solution-oriented SEO strategy showing what STEM-Away currently does vs. how it can be improved (e.g. showing current URL structure and showing how it can be reorganized to optimize for website scrapers and user experience)

Goals for the Upcoming Week:

  1. Concisely summarize our internship experience in pitch deck
  2. Create elevator pitch for STEM-Away
  3. Analyze findings from customer survey

Week 5 - Pitching: August 15 - August 23

Overview of Things Learned:

Technical Area:

  1. Pitching (pitch deck, elevator pitch)
  2. Ideation strategies
  3. Business development
  4. Customer survey response analysis

Tools:

  1. G-Suite
  2. Trello
  3. GroupMe
  4. SCRUM

Soft Skills:

  1. Effective communication
  • Active listening to team member findings/concerns
  • Asking questions to subteam members and team leads as necessary
  • Quick response rate
  1. Creativity - creation of story-based pitch deck
  2. Delegation through dividing pitch deck components to different team members
  3. Conflict resolution
  4. Public speaking

Meetings Attended:

  1. 8/15 Team Meeting 7 (Pitching/Final Week Logistics)
  2. 8/18 Ideation Webinar w/ Vrinda
  3. 8/18 Marketing Talk w/ Katie
  4. 8/19 Starting a Startup Webinar w/ Vrinda
  5. 8/19 LinkedIn Talk w/ Stephanie
  6. 8/20 Subteam Meeting 11
  7. 8/22 Subteam Meeting 12
  8. 8/23 Final Presentation

Tasks Done:

  1. Organized subteam meetings + added to calendar
  2. Ensure that all subteam members are on the same page at the start of each meeting
  3. Laid out agenda at the start of each subteam meeting, ensuring that team members agree with prioritization of tasks
  4. Analyzed customer survey results with team
  5. Worked with team to develop different STEM-Away customer personas, allowing us to tell a story of how STEM-Away would benefit each of these personas during our pitch
  6. Practiced presentation with subteam and team leads
  7. Presented pitch deck and elevator pitch to full team and Stephanie

Achievement Highlights:

  1. Worked with subteam to overcome disagreements on most effective way to present personas, ensuring all members are happy with contents of our pitch deck
  2. Summarized learnings from the internship in a 15-minute story-based pitch for STEM-Away
  3. As someone who is interested in founding a startup, one of my biggest roadblocks has been ideation. Thanks to the strategies provided by Vrinda in her webinar, I now feel confident that I have the tools and ability to develop my own business ideas!