Middle school was a weird time where everyone was so clueless about what they wanted to do and would giveaway their money so frivolously. I remember a fad called "Silly bands" were super popular and they were like bracelets you could wear but when you take them off they would form an animal or something cool like a car. The most popular of the silly bands to my school were the ones that were colored like a rainbow just because if you wore a bunch your arm you would look cool and be top dog. Me and one of my friends had decided to capitalize on this fad and bought over 200 different rainbow bracelets because we wanted to save up and buy a new video game. We bought the bracelets for like 20 bucks and when we brought them to school we would each sell of the bracelets for like a dollar a piece because other kids just wanted them now and wouldn't think about ordering off online like we had. Plus they were the rainbow ones so they were the best and we would always act like we were running out when we weren't. We ended up making way over the amount for the video game by selling off over 150 of the bracelets at a dollar a piece. Unfortunately by selling so many of the rainbow bracelets they became less popular and people didn't want them as much anymore. We banked out and were able to make more than enough for each of us to be able to buy the new Call of Duty but we ended up almost killing the fad in less than a week. This was one of the times I felt like entrepreneur because nobody else at our school offered this type of service and we met the crazy need for a week long fad.
I enrolled in this class to meet my requirements for my minor in business and I wanted to learn more about the processes for how to take risks in the hope of profit. I find this subject very interesting and hope to be able to discuss thoroughly the topics in this class with other students, the TA/TA's and Dr. Pryor.
Christian, I like your story. It shows you embraced the concept of entrepreneurship and ceased the moment. It is interesting you were able to learn about the investment right away when your product became popular and people lost interest in it. I believe each business goes through the same and it is important to keep adapting with new strategies to such events. Wish you all the best in future ventures
ReplyDeleteChristian, thank you for sharing such an interesting and personal experience. I’m really impressed with your post because I was in middle school at the time Silly Bands were famous. Many kids would just ask their parents to go to the store to buy some to fit in, but you looked at this as an opportunity. You created your own business and were able to make money that exceeded your expectations and that’s what I appreciate. I can’t wait to hear more about the things you do in the near future!
ReplyDeleteHello Christian,
ReplyDeleteI had a similar type of experiences that I took advantage of in 5th grade. We use to make book markers for science class. This was such a hot commodity we could sell them for 5 Dollars each with 0 dollars invested due to the free school supplies (mischievous kids). We would take 2 or 3 Crayola markers, a bottle of Elmer’s glue, and a plastic pencil box used as a mold. The mold would create a perfect 2x4 rectangle book marker with the Crayola logo etched in it. We gave it custom colors by using various colored markers. These were "made to order" and lasted as a fad for about a yearlong due to the custom nature of the product.