Name: Nguyen Thi Kim Ngan

Student ID: 11214218

The topic that we were learnt today was about identifying opportunity. First, in
order to identify entrepreneurial opportunity, we have to know what others want
and what we can do. I was taught about opportunity screenings, considering
those factors, we can make informed decisions about which opportunities to
pursue and which ones to abandon. And for each of the screenings, there will be
some skills and things we have to do, for example, considering the market size,
we have to do research to know who the customers are, what do they care about,
and are they growing. One thing is that I have learnt some modules that required
me to do research, and it is important for me to learn research methods when
I’m studying in university because it is used a lot not only in school but also
when I go to work. When open a business, we have to know where the profit is
and where the growth is, they are called competitive advantage and unmet
demand. So we have to find something the competitor do not have and
something customer want but nobody has. Moreover, the lean startup
methodology, and minimum viable product are all related to low risk, low cost,
high learning. And answer the question: How do we get something without
spending a lot of our money?
After learning this lesson, I would like to read more about the lean startup,
because as a person who want to start business and is not a risky one, I’d like to
have a methodology that help me learn more without costing too much. I will
learn more about how to do good research, that will help me when I analyze the
market. I see myself that I do not read a lot, because when the teacher
mentioned about a latest news or a popular man in business, I cannot think of
any. So I set myself a goal that from now on, I will read at least one news every
morning, when I read the book Atomic Habits, it said that you can do small
habits every day, but the result of it will be very big.
From the first lesson to this lesson, although there are many things that I think I
need to improve, but as the time goes, I have changed a lot. I have gradually
build many good habits, like reading, always think of problems and try to find a
way to solve it, and also I have wrote reflection every evening to know how was
my day, what I achieved and what I want to improve the next day.