The Journey of Discovery: Envzn and NC State Students Explore New Business Opportunities
Envzn joined forces with students from NC State's Management and Innovation Entrepreneurship (MIE) Business Opportunity Analysis class (MIE 410). Together, they embarked on a project to conduct a comprehensive business opportunity analysis for Envzn, assessing its feasibility and potential for success
Envzn, a new company launched in January 2023, recognized the need for new customers and saw an opportunity for customer discovery. Partnering with students from NC State’s Management and Innovation/Entrepreneurship's Business Opportunity Analysis class, Envzn embarked on a collaborative venture that proved mutually beneficial. The students, including Jacob Koontz, Marina O'Hara, Rayan Chaudhry, Connor Wayman, and Marc Molite, briefly joined the Envzn team during their Spring 2023 semester at NC State.
The primary objective of this collaboration was to conduct a comprehensive business opportunity analysis for Envzn, assessing its feasibility as a business and determining its potential for achieving desired goals. O'Hara, one of the Business Administration students, explained, "Our team worked closely with the founders of Envzn to determine the feasibility and desirability of the company by performing a voice of the customer analysis."
From the outset, the students' genuine passion for assisting others fueled their interest in the project. While the main goal was to provide a business opportunity analysis, the founders of Envzn wanted to create an open learning environment for the students. Throughout the project, the students gained a wealth of knowledge and experiences. They learned to work effectively as a team towards a common objective and how to assess a company's potential. Additionally, they developed essential research skills, such as conducting a voice of the customer analysis. The project also exposed them to the intricacies of entrepreneurship, including the various challenges faced when launching a business and strategies to overcome those obstacles.
Wayman, an Electrical and Computer Engineering student, shared a memorable experience from the project. "I believe the most memorable moment was landing an interview, the interview falling through, and realizing a pivot needed to be made," he recalled. This realization emphasized the importance of having backup plans and being prepared to adapt quickly when unforeseen circumstances arise.
The project gave the students invaluable insights into entrepreneurship and customer-centric design, establishing a solid foundation for their future academic and professional pursuits. "Throughout this project, I have learned that there are a lot of uncertainties in the business field, and being able to be flexible and adapt to new circumstances is the key to success," O'Hara reflected. These adaptable skills extend beyond academic and professional pursuits, encompassing all aspects of life. Wayman recognized the significance of customer discovery in future projects, emphasizing the need to assess the market demand for an idea. He expressed, "My only focus won't be on whether or not this is a good idea, but if there is a want/need for this idea that is strong enough for it to be successful," he stated.
The collaboration between Envzn and NC State students exemplifies the power of interdisciplinary partnerships. Their project journey highlights the importance of customer-centric design, adaptability, effective communication, and continuous learning. Armed with their newfound knowledge and experiences, the students are prepared to contribute meaningfully to their future academic and professional pursuits. Meanwhile, Envzn now possesses a tangible business opportunity analysis, furthering its path towards success.
MIE Students after presenting the Envzn business opportunity analysis.