We’ve had over a hundred Gr 9 students set up businesses since the start of the year. A term later, we’ve asked them what this workshop has taught them about entrepreneurship.
Being a small business owner teaches you that time really is of the essence. If you snooze you lose…
A fair number of the small businesses chose to institute an order system for their customers to purchase their products. They all learnt very quickly that if an order is placed (with payment due on delivery) and not delivered fairly promptly, customers lose interest and often change their minds about their order. They miss out on the business from these customers that they had worked so hard to secure.
A similar lesson was learnt whenever customers responded to an advert. If the business owners failed jump on the inquiry and be attentive to their prospective customer, they lost out.
Being professional, prompt, and having a quick turnaround time are essential to making money off any type of business venture.
Having first-hand experience of losing your own customers this way, is a sure way to learn this lesson and never forget it.