My first exposure to the concept of entrepreneurship was when I was in the 6th grade. I went to the Sam's Club with my parents and I remember seeing a big box of chocolate that was on sale for about 30 dollars. I quickly examined the box and read that inside the box came 52 full size chocolate bars. I thought to myself that at any regular store each chocolate would sell for a dollar each or possibly even more, then and only then I knew I could make a profit if I could sell the chocolate. The next day I went to school with the box of chocolate and started asking people if they wanted to buy a chocolate bar for a dollar, and as expected they did. Before the end of the day I had sold the entire box of chocolate and I just stared at the 52 dollars with disbelief that there was this much demand for chocolate. Fast forward to about a month later I was the 'go to guy' for people who wanted to buy snacks in school. I had it all: chocolate, chips, gum, fruit snacks, etc. Unfortunately I did not grow my "company" any bigger than that because a kid went to the school administration and told them I was selling things to other kids. I was called in and told it was illegal to sell anything inside of school, my snacks were confiscated but luckily I was given a warning. I stopped selling snacks for about a month but the entrepreneur in me couldn't stay away, I came back on a smaller scale until I realized it wasn't worth my time nor the risk.
I enrolled in ENT3003 because I wanted more exposure to how the world of business operates and how entrepreneurs think and make decisions. I know that luck has a part in being a successful entrepreneur but I believe if you are prepared and ready to take an opportunity and risk you can benefit and make the most of it.
Hey Jorge!
ReplyDeleteThat is an awesome story, absolutely made me laugh- I would have bought a full size chocolate bar from you as well if i went to the same school at the same time as you. But I think that was a pretty good idea for a 6th grader to come up with- you must have been good at convincing the other kids at school I reckon?
I also agree about your opinion about how to become a succesful entrepreneur :)
Hi Jorge,
ReplyDeleteThat is a really cool story! Good for you for realizing that you can make a profit through buying a product from a supplier and then selling it to a consumer at a higher price. Even if it was something as simple as reselling chocolate bars at school, it's still an introduction to selling a product and dealing with a customer base. I am also interested in learning how entrepreneurs think and make decisions. I hope that we learn a lot this semester!
Jorge! Hahahaha
ReplyDeleteI did the same thing in highschool when I had to fundraise for certain societies or clubs. These boxes were truly a money maker because everyone wanted candy during school and best of all, I was allowed to sell them at school. I quickly realized that I could keep selling when there is no demand from the societies or clubs. This is when I realized that I was making a looot of money for the clubs because I was now keeping all profits to myself. It was a good time, and I pretty much made over $200 in a couple months. Luck is important, but we are here increasing the odds.