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As a Filipino fashion brand focusing on handmade accessories, Aranaz has been able to establish a Filipino presence in the international market.
Its target stakeholders are lifestyle/fashion women focusing on “little pretty products” intended to spark people’s day, with their main product line being handbags.
The pandemic has caused the international retail world to struggle therefore, Aranaz has shifted its focus towards the local Filipino market.
By developing houseware products, Aranaz intends to offer their customers a resort lifestyle experience at home.
Aranaz has many potential ideas for product development, but they need a way to determine which products and product lines will be advantageous for them
Jhe and Ian Gomez are OFWs based in Abu Dhabi who are on their first entrepreneurial venture, a project they call Bizkids.
Bizkids started out as workshops for children that provided an environment for learning, innovating, and developing their creative ideas.
Based on their mantra of “Play, Learn, and Earn” Bizkids also developed a board game that taught children the basic concepts related to business (i.e. capital, loans, profit, etc.)
The pandemic has driven Bizkids to combine both workshops and games into a singular digital platform where kids can continue to hone their business skills during the pandemic. This transition is still in development:
The most immediate breakthrough for Bizkids is to gain enough recognition in order to receive government approval. Recognition and government approval increases the opportunities and avenues for Bizkids to grow and further validate its mission by reaching more kids.
There is power in intimately understanding your power users and being able to co-create with them.
Greed vs Generosity… When choosing our stakeholders, let’s keep it real! We need to focus on who to serve. Greed is when we attempt to serve everyone all at once. Thus, sacrificing the opportunity to be generous — in giving the best of the best of our brand, product, solutions so that its value may be unparalleled. Expand, diversify when it’s time.
What really struck me the most is the idea of co-creating with target stakeholders. Most often than not, businesses tend to think on behalf of their customers. While it’s a good exercise, nobody can answer the questions better than the actual customers.
Age is never a parameter or barrier for creativity and innovation. Kids have unique and fresh perspectives that adults may not have. In fact, I think the simplistic thinking and creativity of children and teenagers would be refreshing in the business world full of complexity. And they’re always eager to work as a team, they enjoy the aspect of community – don’t we learn better with others rather than alone?
Because there is always this gap between what people say, think, do and feel, it is best to observe your stakeholders as they engage with your solution and take note of inconsistencies with what they say and what they actually do. These are great points of conversations that lead to relevant stories and insights.
There is a commonality in that one starting point for innovation is in focusing on POWER USERS, meaning those who are in love with your solution and the problems you are addressing. It’s easy to see where your openings are through your power users. After all, the target opportunity always starts with the target stakeholder and target impact – which pains and needs of theirs are you gonna target? When you determine your power users it becomes easier to accelerate and sprint through your hurdles. But if you don’t identify and focus on those power users, you’re going to struggle understanding the needs and wants of your customer.
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