One way to improve our startup community is to share the learnings. We’re happy because we’re given a chance to share our learnings from Hack2Hatch to a group of startups headed by Markjeee, Dave and Tins.
Ademar shared what Codetoki learned from h2H.
Hack2hatch Learnings Summary
The main point we highlighted was how important the business plan is. We’re not referring to the traditional business plan. What we’re talking about is that you have to be prepared on defending the viability of your proposed solution through research and figures.
Elevator Pitch - A short summary about your product and its value proposition.
Market Validation - Determine the market size and target market. Can also include your research / survey on what your target customers think about your product.
Problem - A clear explanation on what you are trying to solve since you are proposing for a solution to a problem, not a solution looking for a problem.
Solution - Explanation on what your product is all about and how it will help solve the problem.
Revenue Model - What is your price structure. How would you price your service offering.
Financial Projections - Revenue forecast for 3 to 5 years. (Don’t get intimidated with figures. You may check your market size and from there, forecast how many would use your product.)
Market Opportunity - An identified need, want, trend or demand that opens an opportunity for you to grab and exploit.
Differentiation - What makes your product/service stand out among your competitors. Explanation on the unique value you give to your customers.
(Disclaimer: These were based from the things we understood. Feel free to correct us if we’re wrong. Also, feel free to share what you learned too so more people can benefit from this discussion. Thank you!)
Here’s a group photo of BSFounders Club.
Mark of Caresharing
Dave of Sym.ph
Tins of Techtalks.ph
Wes of Mynimo.com
Mark and Johanna of Happy Garaje
Jerome and Daryl of Luto.co
Albert and Nicole of Spelldial
Janessa of WaitKnowMore
Ian and Patrick of Schoolabs, Tropa.ph
Me and Ademar of Bootyard Inc.
(P.S. Mark is also calling out all startup founders out there. If you’re interested to be part of the tech circle in Cebu, feel free to email me at honee[at]bootyard.com so I can introduce you to the group.)