Gillian Stanleys Individual Blog / Reflection Essay

Personal Reflection Essay

Over the last three months I have been in the class, Venture Launch. We were allowed to make groups within the class and work on a specific business idea and understand how to scale it and make it grow. Within my team there were things that worked well and ended up being huge “ah ha” moments. There were also things as we went along that we could have done better and I would have done differently if I were to do it all over again.

One thing that I found our team did really well was brainstorm and bounce ideas off of each other. I had a pretty set idea of what I wanted the business to be (gluten free diner) as it is what I want to do when I finish school. It was nice that right away I had people approach me to be in the group and I didn’t have to work on it alone. I wouldn’t have gained as much as I did if I was working on the whole project by myself. I am so used to doing everything myself, or redoing other peoples work that it was nice to challenge myself to support them without changing their views. We all came from different experiences, from me being celiac, while others had no idea what it was even about. The difference of opinions allowed me to know what the current market knows and thinks about gluten free products and enabled us to get a ton of valuable research about what the customer wants and how that business could be successful. By the end of the semester I feel that I am so much clearer on how I can create and deliver value to the customer. The most important thing about any startup is what value are you adding to the current customer? Why would they pick you over someone else? Having a group to work with and a range of opinions greatly helped me understand this.

Another thing that I feel I did really well was leading the group and bring a sense of passion and direction. Since this is the business that I actually want to start it meant a lot more to me then just a school project. It was neat as the semester went on to see how the other group members also became quite passionate about it and recognized that there is a market and demand for the diner. My history with the idea and knowledge on the market greatly helped with direction and focus. This allowed us to not have to do much research as it was already done; it was more a matter of me teaching the group. The front stage of the BMC is so important and it is where I was lacking, most of the back stage I already had a pretty good understand and grasp on so it really helped us focus on the front end. When we met with the advisory board I felt that my

One thing that I would definitely do differently if I had the chance to do the whole project over again would be to focus on the financials and cash management. My weakness is with accounting and the “books” of the business and I felt that the tools given in this class were so complex I didn’t want to put the time into trying to understand them fully. If I were to do it again it would be great to focus on that area, or even get someone in my group with experience in that area. It is an absolute fundamental for a business to run smoothly and I still feel that I need more knowledge with the financials and how they work. I feel that I could definitely gain further experience if I get in contact with some outside mentors, that are currently running their own restaurant and would show me the cash side and how things run.

Another thing that I would do differently next time would be to make sure that the group works on all the different assignments together. Some exercises given were split up and it caused some group members to not even look them over, while others worked on the whole thing. The one page project manager was given to work on, and none of us really understood it. Even when we met there wasn’t much direction or desire to understand it. I should have directed the group and made sure there was some sense of understanding and to know that at least we tried to do the exercise. I read up about it and how to apply it to your idea, but I still feel completely lost on the timing section of the page. I feel that the tool could have been helpful but there wasn’t much reflection or follow up to see if everyone understood it. The group looked at this project as just another thing towards their degree, and for me it was so much more. This gave me the place to empower them and to get them to be passionate about the venture.

I loved the idea of the MVP hypothesis and how are you going to test the market using the least amount of resources. Just recognizing this and actually testing the market and understanding what they want allowed us to test if there was an actual market for the diner, and if it was growing, saturated, or declining. This was a very valuable lesson and experience for me because it allowed me to see that there is a difference between what you think the customer wants (your assumptions) and what the market/customer actually wants. It is important to understand what hypothesis you are testing; growth, value, production, scalability, customer arch-type, or technical. As I learnt with the hypothesis we had you need to make sure you aren’t testing the same area of the market with all of your hypothesis.

One huge lesson I learned about scaling a venture is how much value it can add to your business in the current market. Even if you never plan to grow the venture it is a great way to recognize that it could be possible and it shows potential investors that you have thought about the future of the business and not just the single location. It is great to understand the difference between a venture and a startup; is it scalable and sustainable? Knowing this has changed my entrepreneurial mindset and how I look at a potential business, it has become much more long-term and growth driven instead of just one small single location or idea. 

The MVP loop is a great, simple tool that is easy to understand and use. I will use it with any future endeavor that I have.

         Overall the class and project has taught me a great amount about ventures and how to make them scalable, therefore more valuable and of greater interest to potential investors. I have learnt about grants and loans that I can apply for to help me start up the diner which would be a huge help. I have even gained some knowledge about franchising and the potential opportunity, which was something I would have never looked at before doing this class. The biggest thing is to have an idea, test the market to make sure it’s viable, and then go with it, don’t wait!

"Get out of the Office and Validate"

The hypothesis I chose was; "That non celiac will eat GF products and not know the difference."
This hypothesis relates to the, "Key Activities" on the BMC. By testing this I am finding out about the market and what they are willing to buy. There must be consistency with the products that we are supplying to the customers, and they must enjoy the products and prefer them from somewhere else, regardless if they are GF or not.
To test this hypothesis and do a MVP test, I decided to make some muffins and bring them into my work. I work in a restaurant so I thought there would be a good variety of people from the FOH and BOH. There would be a wide variety of experience with baking and what they consider, "good". I made 20 muffins (Blueberry) and got one of my coworkers (Angela) to hand them out so that they didn't associate them with me and know that they were GF. She just said she made everyone muffins and not that it was a test or for any particular reason. After everyone ate them I went around and asked each of them a series of questions. There were 14 muffins handed out in total, 6 to the BOH and 8 to the FOH staff.

They were:
1) On a rating of 1-10 how would you rate the muffins?
2) What did you think of the consistency and texture of the muffins?
3) What flour or flour combination do you think they were made of?

Here is a summary of the results I got. (Confirmable data points)

1) The Average rating was 7.5
2) Moist (4) - might have been because of the blueberries?, spongy (3), a little too much like cake for me, like an angel food cake sorta?, airy (2), light (4)
3) wheat (4), a rice flour combination (3), corn flour maybe, maybe a tapioca and rice mix, a corn and rice flour mix, maybe a mix of coconut, rice and quinoa, no idea (3)

Findings:

After completing the questionnaire there were some obvious connections. The staff that worked in the kitchen had a much higher level of knowledge about flours and how they bake, so they were the ones that knew it wasn't a wheat muffin. Some of them were red seal chefs and knew some rice combinations that it could be, and others thought corn or rice. The FOH staff said wheat, I think because it was the first thing that came to their minds, or they had no idea, they knew it wasn't wheat but wasn't sure what it was, and then one of the FOH staff said it was some sort of rice flour combination.
Once I told the FOH staff that they were GF, some were actually quite surprised and said that they were the best GF product (not just muffin) that they have ever tried. It started an interesting conversation about how many of them will not try GF products now because they did 3-5 years ago and they were horrible and dry.
The BOH staff all knew that the muffins were GF once they tried them but still said they enjoyed them just as much as a wheat product, if not more. They wanted me to make more and they would make some with wheat flour and we could do a taste test. They said that they would buy the muffins at a store, but not because they were GF. This was interesting to me, because it gave me some raw data that labelling GF is not necessarily a good thing.

My recommendations for the BMC and as we move forwards would be:

1) Do not label the diner as 100% GF first, keep it secondary in the name and branding.
2) Create a menu with products and items that are delicious and preferred by any customer, from Celiac sufferers to non Celiac sufferers. This is the most important thing for the diner! If we are able to create a menu that stands on its own, is different, healthy, full flavour, and preferred by customers regardless of their dietary needs, then it wont matter that all the products are 100% gluten free. The GF aspect can still be an important part of the diner, so that we are still letting the Celiac's know that it is a 100% GF kitchen. Our products and menu will be competitive with the non GF diners around town, and even preferred by those seeking something healthier.
3) Even though many of the individuals that tested the muffins knew they were GF, still enjoyed the product and would purchase them. Some individuals didn't know the difference between the muffins handed out and a full wheat one, but this could just be because they don't care or think of what the muffins are made of and have never had a dietary concerns to deal with.

Overall, it is most important that we create a menu with items that are preferred by the customer, regardless if they are Celiac or not. The GF pancakes must be better then wheat ones, and the waffles must be more fluffy. As long as we can keep the products consistent and the quality up we will create repeat customers. Through repeat customers the business will grow and the diner will become more and more popular, to Celiacs, people with intolerances, and to your everyday glutinous eater.

Blogs:

 Jan 28 - Feb 4

So far our team has managed to get a good idea of what the diner will be focused on and what it could look like longterm. Its challenging to think about what social value could be added to the business but it is also important to look at. Investors will be more interested if you can show that you have thought about the business longterm and how it can potentially grow.
I have already stumbled upon one big issue, and that is if there is a big enough gluten free market in Calgary to open a diner specifically catering to these individuals. Another question is if these small niches of people with allergies or intolerance are willing to go out and pay for their meals, or do they usually stay at home and cook? Another concern is how we can target those individuals that don't have any intolerances and just say that gluten free doesn't taste very good. How can we change this perception? I think that we will be limiting ourselves too much if we say that we don't want to cater to people that eat gluten on a daily basis.
What we are going to work on this week is the storyboard for Thursday's presentation, fine tuning our values and principles, and thinking about how we can narrow down our MVP and the tests we could do.
Our team seems to be working well together and we have an interesting dynamic and range of views and experiences.

Blog for February 4th - 10th:

This past week we worked on fine turning our MVP and the hypothesis. We created the storyboard and presented it on Thursday. The storyboard really helped with understanding the need that our diner would be filling and recognizing how the hypothesis could be tested. The advisors we had created a good discussion around the idea of the diner being completely gluten free. The conclusion after some debate was that being 100% gluten free would be a good differentiator for the diner and also make it a new idea, not just another diner. Another issue that came up was if there is really a strong market longterm for gluten free or is it just going to be a "fad" that will fade out eventually. 
One issue that we really need to look at is what will our menu look like? What will we be known for? And we need to test the market for price and taste. 
This week I will be working on our next project which is the video. It will be interesting to see how it compares to the original storyboard. 
Our team is still working really well together and dividing up work load doesn't seem to be a problem

Feb  18th - Feb 24

This week is reading week so I don't think I will work on much towards the project. I will think about video ideas, and how we could film our storyboard. 

I feel like we have more direction knowing that we want a 100% GF diner. This will be an easy way to differentiate ourselves, and not get lost with all the other diners in Calgary.

Its interesting to think about how we want to brand our Diner; either just a healthy diner, or a 100% gluten free diner. We need to test the "GF" idea with customers and see what stigmas are associated with it and if they are positive or negative. After talking with the advisory board we also need to look at if GF is just a fad? And if is it how long will it last? Can the diner change down the road at the market changes with respect to allergies, and other intolerances, like lactose and dairy. 

As the diner grows over time should we have a mobile truck? possibly a food truck? what direction could it take down the road and what could we sell?

Meeting with the advisory was very helpful with direction for the diner, and also the feedback given from Evan. If there are 4 people going out for breakfast and only one is GF why would they go to the diner? How can we make the menu that delicious that people want to go there no matter what, not simply for the GF factor? How can we change peoples misconceptions about GF products? How can we target the non celiac community and in what way.

Feb 25 - March 3

Last week I didn't work much on the project since it was reading week. 

This week we need to work on our second advisory board meeting and put together a new MVP and hypothesis. This needs to be around branding, as I said before and what ideas GF bring into peoples minds. We need to test the market to figure out if we want to be called a !00% GF diner, or just a healthy delicious one. The information gained from doing these tests would be critical when branding the diner, from marketing, to what the name should be. Should GF even be in the name? 

Im a little confused if we need to make a new MVP or just add on to what we have since we haven't changed that much. I think we just need to add a new hypothesis to test the image and branding. This would also relate to promotions for the diner before it opens, because based on how we want people to perceive us we would target different trade shows or market segments. 

As a group we really need to meet and get started on the video of our storyboard. I don't think it will be too complicated but we cant leave the editing till the end. 

I think I may make some product and do a little mini test in class with labelling GF and not. Since the class is already aware of our idea we could also make non GF products to compare to and see if they can tell the difference.

March 4 - 10

This week we will be working on the video for our MVP. We need to show that the customer can come to the GF diner and have an enjoyable experience. I feel like we should try and get a space to use at a restaurant so that we can create a more "real" experience. I don't want to leave it till the last minute because we have to edit it and make sure it is long enough. I feel a bit confused about why we would be doing the exact same thing as the storyboard but in a video format? I feel like we have already proved that the customer can have a positive experience from eating at the diner and that there is a demand for it within the market.
I didn't have time to do a mini test, but I think I will still have a chance to test product with the MVP test when we have a week off.

March 11-17

Last week we worked on the video and made it. It was hard because we didn't have a real space to work with. Ideally we should have contacted a restaurant or diner to do the filming, just to create a better scene and overall story.
The group is still working really well together, and we are all having different ideas and contributing. As the project and idea becomes more in depth we all have slightly different ideas on what it should look like. It would be interesting if I were to actually open the diner to get everyones opinions and ideas.
I have been trying to work on the OPPM template, but am feeling lost and confused! WIsh I didn't miss that class. The whole idea I am confused about, if we are supposed to be planning for before we open, or after, or during operations. I hope we can clear this all up in class Tuesday.
Next week we need to work on our sales forecasting and cash management. Im excited to test the field a bit with GF and non GF products and understand if there is a stigma around branding and labelling.

March 18-24

We worked on the OPPM template as a group, but it doesn't seem to be looking much better. We need to figure this out and get a better understanding of the timing part of the sheet and what it means. I think that because we are doing a restaurant.
This week there is no classes. We are going to meet as a group to work on the financials of the project. I don't understand the cash management forecasting or the financial sheets. I feel like we need a different layout because we are a restaurant and not selling a product?... need to figure that out next week when we have a meeting.
I am going to work on my hypothesis, "That non celiac sufferers will eat gf and not know the difference." I am going to make some GF muffins and take them into work. I am not going to say that they are GF or label them and I will get someone else to hand them out so that they don't have any association with them coming from me. 


March 25- March 31

Last week we met as a group and tried to work on some financials for the project. I feel like we weren't very successful! I have no idea about the investment that each of us should put in, or how we are supposed to get a lot of the numbers. We will need to talk about this in the meeting that we have this week.
I worked on the "get out of the office and validate" assignment last week. I felt it was very successful. I got some interesting responses about the product and some direct information that can be used for the diner. The main thing is that we need to make the menu, regardless if it is GF or not, delicious. It needs to be creative and different but the products (baked goods) must just be preferred overall, regardless of what they are made of. If we can do this, and create a menu that is different, healthy, and delicious, people will come to the diner regardless of if they have any intolerance or allergy to gluten.
Next week we need to work on our final project and the financials. I hope we can get some understanding on the cash part of the project because at the moment I am feeling pretty lost, and no one in our group really knows what it should look like.

April 1 - April 7

Our group is working really well on everything as we come to the en of the semester. Our financials are a bit confusing and I need to e-email Evan about a few questions I have. 

On Tuesday we are going to have a group meeting to figure out what we are going to say for the presentation, and on Thursday we will have a practice run. 

It is nice to get the experience with writing pitches and getting some feedback from the class and other teachers.

I was looking for some hard evidence about statistics and numbers around Celiac disease and how common it is, and it is really making our idea even more viable! There are things like the "gluten free expo" across Canada. There are so many gluten free markets and stores across Calgary, which also backs up the idea that gluten free market exists and is growing with demand. 

April 8 - April 14

Last week we did a dry run of our pitch. We need to rewrite our pitch so that we aren't repeating ourselves and it flows better. Im excited to pitch our idea and get some feedback about it. I am totally confused about our ask and what it should be. I feel like our financials aren't right either, and that we are missing something (I think that it is the income, it should take into account the expenses) I will figure that out before we present. I am also a little confused about what our ask should be, what is realistic? what interest should be given? What terms?... so many questions.

I feel like everything else with our project and group is going really well, we have all contributed equally, and even the first writing of the pitch we all worked on together.

This week after we present we need to work on our financials a bit more for the final package, and figure out our cash flow for the 5 years. I feel that I am still a bit lost with some of the sheets!! And I have no idea what we are supposed to put in some of the cells. 

We need to make a website too, and do our final BMC writeup, we will have a group meeting on Thursday to work on the rest of the stuff that is due, and then all I need to work on is the reflection.