Thursday, December 8, 2011

Getting Rich Cheap

Be Your Own Boss.

This is the slogan of the business accelerator program at the School of Management (SOM) in Ateneo. It is a yearlong program for seniors to start their own businesses, wherein actual registration with the Securities and Exchange Commission is required. They are given a workspace as their office, which also has a conference room for meetings with clients or suppliers, and a telephone line. Groups of students only need to submit proposals of their workable business ideas and the top six groups are accepted. This program has spawned a variety of business concept such as packaged squeezed kalamansi (with no seeds!), bottled fruit and vegetable drink, and fiber-rich longganisa

Yes, this program encourages students to think like and actually be entrepreneurs even before graduating and it’s open to all SOM seniors. But there is a prerequisite that is unmentioned but understood: capital. In order to go into production and be in full operation, all these students must contribute a certain amount of money to get their businesses to take off. The kalamansi will not squeeze itself. You can’t be cheap if you want to get rich. Or can you?

Shopping at the push of a key

In this era of online shopping, anyone can be an entrepreneur. All one needs is a computer, an Internet connection and whatever good or service you would like to offer. It’s as simple as signing up for an account on e-Bay, or even Multiply. Of course, there is the initial shelling out of cash that’s required of any start-up but the amount is considerably lesser than setting up a brick-and-mortar store—no licensing or registration fees, no costs for the renovation or layout, and no rent expenses. Plus (or is it less?) there is no cause for headaches worrying about inventory management and human relations policies. Your warehouse is your room (or whatever space is available) and your staff is you. There is no issue of logistics (meeting up and exchanging the good for the money), as you only have to fit the meet-ups with your schedule. By simply sitting in front of your computer, you can make a profit. Being your own boss can be just that simple and cheap.

Candice See, Entry #2

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