Emery Entrepreneurship – Project 1 (Part 2)

I was pretty disappointed with the results of the first project. To read the assignment, check out the post written a couple weeks ago.

A few teams dropped out and did not complete the project.  One very noticeable, constant problem was that students were afraid to execute. Ideas are cheap… implementation is not! The people that execute and actually make things happen are the ones who go far in the world. 

Here are what the teams did:

1) bought a pack of gum with their $5 and resold each piece

2) sewed/made and sold socks.  

3) sold personalized business cards

4) contacted the Astros foundation for two autographed baseballs to resell at a little league baseball game 

These teams did not move beyond the standard response and challenge traditional assumptions. I was hoping the teams would realize that the $5 was simply an unneeded resource.  Focusing on the money frames the problem too lightly.  

The most common lesson learned was that marketing is extremely important.  In order to sell a product, you need people not only present but also aware of what you are offering. 

Team 4 made the most money.  All of the money was donated to the Astros Foundation.

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