by Kriti Mishra (Singapore)
Entrepreneurship is a challenge. 13 weeks ago, reading the course outline for Prof. Pamela Lim’s course I would not have imagined that in this short period, I too could be a business owner (and earn revenue no less). More unfathomable was the idea that five random strangers could come together to form a business. Our fateful like-mindedness definitely aided the process.
There was a wide variety of technical expertise ranging from logistics to finance and marketing to communications, and everyone had at least one common goal-to enjoy the last term doing something fulfilling, but not extravagant.
Our initial plan of remaining a small scale business helped us have a successful run because the team put their best feet forward. For me the challenge was coping with all the technology. Between website creation, order forms, and Facebook promotions, the challenges were diverse. Even with the incredible Web 2.0 tools that have redefined communication, and by extension all business models, the most important thing is to have that incredible idea.
Ours was simple-to organize a massive shopping spree. As a group mate astutely put it in the business plan, “Spree Republic aims to be the premier online shopping space for savvy shoppers through the exploitation of economies of scale and from this collusion of purchases from several networked parties, Spree Republic can leverage on the cheaper shipping rates from the online stores around the world.”
Though we only got to hold one spree, we learnt many valuable lessons, which will help streamline the business further should one consider continuing it. The most important of the lessons was far softer-that entrepreneurship is about the spirit. The willingness, the passion (the synonyms are varied) is what will get you through.