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How To Start A Company With $5 of Seed Funding and Two Hours

Discussion in 'General Business and Entrepreneurship' started by Mr.Trep, Apr 8, 2015.

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  1. Mr.Trep

    Mr.Trep Member

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    A teacher at Stanford named Tina Seelig had a genius idea while asked to teach a week of entrepreneurship to a class. She decided to put each group of students to a test. She gave each group or “company” $5 of seed funding with a few conditions. They could plan all they wanted, but once the envelope of seed money was opened, they had a total of two hours to generate as much money as possible.

    What would you do if you could only spend $5 and had a limited amount of time to generate the maximum amount of profits?

    To make this challenge easier and more realistic, what if you only had $20 and 24 hours to beat another startup team…

    Mrs. Seelig was amazed by the ideas generated in such a short time and successfully pulled off by the students. She found the most successful students weren’t even using the seed funding. One group solved a local problem that plagued their college town. Long lines at their favorite dining locations gave them the idea to place as many reservations as possible and then sell them to people waiting in line at the reserved time. The team was able to charge up to $20 per reservation.

    The most successful team made it even easier on themselves. Instead of trying to solve some problem they realized what they had access to. They were required to give a three minute presentation at the end of the challenge which meant an audience of college students. They reached out to as many businesses as possible and sold the time slot as an advertising space. Instead of giving a presentation, the group made a three minute commercial and shared it with the class, earning the group $600 in profits.


    The Challenge - All successful students were able to generate a few hundred dollars within a few hours time. As a challenge to everyone and myself, how much revenue could you generate within 24 hours with only spending $20?
     
    Jessica Danes and K like this.

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