3A – Your Entrepreneurship Story

My Entrepreneurship Story

What drives me towards entrepreneurship as a course of study is the idea that entrepreneurship is the key to motivation as in order for you to be considered an entrepreneur you need action/commitment. To be an entrepreneur you need to have a goal in mind with a problem and solution that you can accomplish. In order to reach these goals, you must take the necessary steps in order to reach each step and eventually helps you achieve your goal; which in turns to motives you into creating a new goal.

Even though my experience as an entrepreneur is limited, the closest thing I have in terms of starting my own business was back in high school when I sold candy to fundraise money for my many wrestling camps. Even though this sounds fairly basic and even trivial, in order to make this profitable, I had to do a lot of planning. This planning included restocking/inventory management, tracking sales, and responding to the demands of the consumer base. I had to do these things on the daily as if I didn’t I would underprepared for the next day and most times meant I would sell out before the end of the day, losing out on many potential sales. Sales were essential in terms of maximizing profits as a buy one get one would save me anyone from 10$ to over 100$. I also had to mindful of competition and had to arm myself with the goods they could not provide. Even though I kept my prices along the universal school standard of 1$, by keeping my prices consistent I was able to obtain regular customers while as being able to undersell many competitors as they eventually rose their prices to 1.25$ and the inevitable 1.50$ price rise. Within 6 months of selling candy, I was to accumulate over 1000$ of revenue.




Another example of my of entrepreneurial experience would be soap drive I conducted my senior of high school to which was a fundraising event to bring soap to children in need. Even though this originally wasn’t my idea I quickly became one the main organizer for the project. As I had to manage the other group members and helped design incentives to encourage both the student body to participant in the event.




The main reason why I chose to take ENT3003: Principles of Entrepreneurship was further improve my entrepreneurial skills. Even though I don’t plan on opening my own business I personally feel having these type of skills on the ready will prepare for anything life has to throw at me.