Seven o'clock in the evening, November 24, 2023. At Catherine's penthouse.
"So how did the assessment exam go?" Catherine asked, leaning forward with genuine curiosity, her eyes reflecting her eagerness to know.
"I passed it," Michael replied simply, his voice carrying a hint of pride. He was busy arranging the handouts for their lesson, but he couldn't help but smile at Catherine's reaction.
"Whoa… congrats!" Catherine exclaimed, her hands coming together in an enthusiastic clap. "That's amazing, Michael! I knew you could do it. You're like, super smart."
"Thanks," Michael said, feeling a warm sense of accomplishment. He appreciated Catherine's support, finding it encouraging and uplifting. "But enough about the exam, let's focus on today's lesson. I've prepared some new materials that I think will really help with the upcoming topics in your course. You said your next topic will be about the Bernoulli differential equation?"
"Yeah…my professor mentioned it's a challenging topic," Catherine admitted, looking slightly apprehensive.
"It can be tricky, but I'll break it down for you. It's all about understanding the process," Michael reassured her. He started explaining the basics, using simple examples to illustrate the principles of Bernoulli's equation.
Catherine listened intently, occasionally asking questions. Michael's explanations were clear and concise, making the complex topic more accessible. As the session progressed, Catherine's understanding deepened, and her initial apprehension was replaced by a growing confidence.
Michael could see the progress in Catherine's problem-solving skills and her ability to grasp the concepts. Tutoring her was becoming more than just a job; it was rewarding to see her improve and gain confidence.
As they wrapped up, Catherine looked relieved and more confident about handling the topic. "Thanks, Michael. I feel much better about Bernoulli's equation now."
"No problem, Catherine. Just keep practicing, and you'll master it," Michael encouraged her.
With the lesson over, Michael prepared to leave, but Catherine spoke.
"How's your plan on building a business going?"
The moment she asked that the system notification suddenly popped up.
[New Mission: Business Foundation Strategy - Building a successful business from scratch requires a strategic approach. Your first objective is to develop a comprehensive business plan. This includes market research, financial projections, and a clear roadmap for technology development and implementation. Secure initial funding of 10,000,000 pesos through calculated financial strategies, including but not limited to, stock trading, gambling, seeking potential investors, or exploring grant opportunities. This capital will serve as a seed investment for setting up your business infrastructure, including acquiring a suitable property for office and factory operations.]
[Rewards: 20,000 System Points, 1x Spin in the Wheel of Fortune, a chance to level up one core science of your choice.]
Reading the mission and the rewards, Michael began to realize that from this day onward, it was going to be serious. He nodded to himself and closed the notification.
"Well, I have the technology, I just don't have a business plan. But I'll work on it later when I get home."
"Hmm…you know my family has a lot of business right, and as their daughter and the future heiress, I was taught privately how to run a business when I was a teen. So, this solar panel of yours you are planning to introduce, what makes the people want to buy it instead of the solar panels built by reputable companies or companies that have been making solar panels."
"Well, my solar panel technology has an efficiency rate of 60 percent, while commercial panels only offer about 15 to 25 percent efficiency. It's more advanced and cutting-edge," Michael explained, enthusiastic about his project's potential.
Catherine, however, shook her head. "Michael, simply saying your technology is 'cooler' than others won't convince people to buy it. First, you're a college student. How can you claim your solar panel is more advanced than those developed by experienced engineers in big companies? Second, that's not an effective marketing approach. You need a solid business strategy."
Michael paused, realizing the validity of her points. "I see your point, Catherine. So, what should I focus on?"
"Consider this," Catherine began, assuming the role of a business advisor. "Highlight the unique benefits of your technology. How does it solve a problem that existing products don't? Maybe it's more cost-effective in the long run or has a smaller environmental footprint. And you need a strong business plan that shows how you'll bring this product to market, the costs involved, your target audience, and how you'll scale."
She continued. "Also, think about partnerships or certifications that could lend credibility to your product. You need to establish trust, especially in a market dominated by established players," she added.
"I don't know what you are talking about…certifications…partnerships…where do I get all that?" Michael said, visibly confused.
"Certifications are official endorsements that validate the quality and efficiency of your product. You can get them from various standardization organizations. For partnerships, look for companies or entities that complement your technology. These could be suppliers, distributors, or even research institutions. They can help in scaling your product and providing it with the necessary credibility."
"I still don't understand…" Michael said, chuckling embarrassingly.
"Okay…let's stop going deeper into that aspect first. How about you show me your prototype?" Catherine said, changing the topic.
"I have the prototype but I can't show you just yet. To do that, I'll need a factory where I can set up the equipment needed to produce the solar panel I'm talking about," Michael said.
"Okay, so you need a factory? They typically cost around 2 to 10 million pesos, depending on their size and location. How much have you raised so far?"
Michael hesitated for a moment before replying, "I've managed to raise about 100,000 pesos through stock trading. I'm planning to gamble a bit to try and triple or quadruple that amount."
Catherine's expression changed to one of concern. "Stock trading? I'm surprised you're into that, but please, Michael, reconsider gambling as a means to raise funds. It's risky and unpredictable. You could end up losing what you've already earned."
Michael looked thoughtful, considering her words. "I thought it might be a quick way to increase my capital," he admitted.
"It's not just about quick money," Catherine explained. "Building a business needs a solid foundation, and gambling isn't it. You should focus on more stable and reliable methods of funding. What about approaching angel investors or applying for grants, especially those aimed at supporting green technology?"
"If only I knew one," Michael said, chuckling.
"Well, how about this?" Catherine said, facing him, her facial expression turning serious. "You said you are going to make a business plan right? Then make one and show it to me. Also bring a sample of your solar panel, a portable one would do. If you pass, I'll give you a chance to meet investors who might look into your technology."
Michael's eyes widened. "You can do that?"
Catherine nodded confidently. "My family has a lot of connections in the business world. If your plan and product are solid, I can definitely arrange meetings for you. But remember, these investors are seasoned professionals. They'll want to see a well-thought-out plan and a viable product. After all, those investors don't care if your technology is the best, they care if they are going to profit from it."
Hearing that, Michael felt a surge of determination course through him. "I'll get to work on the business plan and the prototype right away. Thank you for this opportunity, Catherine."
Catherine simply nodded, hoping that Michael was not just an all-talk-no-bark individual. Though the thought of him making the best solar panels is ridiculous for a college student like him, she felt an iota of excitement at the possibility.