The £100 challenge – start a business
Discussion
Pickled said:
I started the £100 challenge last week, bought 5 2nd hand Archos tabs for £18 a piece, and sold on the bay for £60 each, rinse and repeat next week (more units) and have bought a pallet load of xmas wrapping paper for £35 - Delboy route for me i'm afraid 
Good work, get Uncle Albert to knock some out at the Seamen's mission too 
Thought I'd give this a bump to see how everyone is getting on.
I don't have much to report other than my website is now complete and I am in the process of getting in touch with retailers so things should start moving in the next week or so.
Glad we're not accounting for time in the cost of setting things up because learning how to build websites is soooo time consuming. Quite nice to learn something new though.
I don't have much to report other than my website is now complete and I am in the process of getting in touch with retailers so things should start moving in the next week or so.
Glad we're not accounting for time in the cost of setting things up because learning how to build websites is soooo time consuming. Quite nice to learn something new though.
I know what you mean. I've been a bit lazy with the video side of things.
Website took ages to build as I was getting to grips with the detail of WordPress. (It's fine if you are happy to let it do what it does but if you want to really customise things, then it takes a lot of experimenting.)
Website took ages to build as I was getting to grips with the detail of WordPress. (It's fine if you are happy to let it do what it does but if you want to really customise things, then it takes a lot of experimenting.)
Due to the arrival of mini-Laughingman no.2 I've not had a chance to look into this too much. I've got a couple of ideas, but I need something that doesn't require big chunks of time to do work. At the moment I'm thinking of trying drop shipping, although further research has to be done first. Hopefully something will be in place before Christmas.
Laughingman21 said:
Due to the arrival of mini-Laughingman no.2 I've not had a chance to look into this too much. I've got a couple of ideas, but I need something that doesn't require big chunks of time to do work. At the moment I'm thinking of trying drop shipping, although further research has to be done first. Hopefully something will be in place before Christmas.
Videolog of you getting tired every day. Bang it on YT. Retire to St Lucia. (I may have missed a step or two.)WetPaint said:
Ok, I admit it, Since my 'room' pulled out, I haven't really put any effort in to get the cinema going...
The main reason being the £100 capital and the fact I will more than likely have to pay for a premises upfront, rather than afterwards from the profits.
Must try harder.
It's tough, isn't it. I wanted to create a completely new rival to the iPad, with a bespoke OS, apps/software, support hotline, sales people, chain of retail shops and massive TV ad campaigns. But £100 doesn't quite cover it. I just figured if I could spend the profits on everything first...The main reason being the £100 capital and the fact I will more than likely have to pay for a premises upfront, rather than afterwards from the profits.
Must try harder.
Hoofy said:
WetPaint said:
Ok, I admit it, Since my 'room' pulled out, I haven't really put any effort in to get the cinema going...
The main reason being the £100 capital and the fact I will more than likely have to pay for a premises upfront, rather than afterwards from the profits.
Must try harder.
It's tough, isn't it. I wanted to create a completely new rival to the iPad, with a bespoke OS, apps/software, support hotline, sales people, chain of retail shops and massive TV ad campaigns. But £100 doesn't quite cover it. I just figured if I could spend the profits on everything first...The main reason being the £100 capital and the fact I will more than likely have to pay for a premises upfront, rather than afterwards from the profits.
Must try harder.
Laughingman21 said:
Hoofy said:
WetPaint said:
Ok, I admit it, Since my 'room' pulled out, I haven't really put any effort in to get the cinema going...
The main reason being the £100 capital and the fact I will more than likely have to pay for a premises upfront, rather than afterwards from the profits.
Must try harder.
It's tough, isn't it. I wanted to create a completely new rival to the iPad, with a bespoke OS, apps/software, support hotline, sales people, chain of retail shops and massive TV ad campaigns. But £100 doesn't quite cover it. I just figured if I could spend the profits on everything first...The main reason being the £100 capital and the fact I will more than likely have to pay for a premises upfront, rather than afterwards from the profits.
Must try harder.
InertialTooth45 said:
Then it would just be the business challenge - start a business.
Everyone will have access to different levels of credit, whereas everyone has access to £100. Just creates a level playing field, start something pretty much from nothing.
I thought the purpose was to get a business up and running without spending more than £100. If credit is available, surely it'd make good business sense (and demonstrate good cash management) to use it.Everyone will have access to different levels of credit, whereas everyone has access to £100. Just creates a level playing field, start something pretty much from nothing.
slight update
So for the English Business as of today I have not yet started selling to the hotels or started the website- why? I hear you cry!
Well...its because I have been concentrating on getting in a few more private students first. Ive got two more "contracts" (verbal agreement really!).
I'll update properly when I have the time, but so far my ROI on the £100 is actually quite good- if not good enough to live off- just yet!
So for the English Business as of today I have not yet started selling to the hotels or started the website- why? I hear you cry!
Well...its because I have been concentrating on getting in a few more private students first. Ive got two more "contracts" (verbal agreement really!).
I'll update properly when I have the time, but so far my ROI on the £100 is actually quite good- if not good enough to live off- just yet!
My club night starts on Nov 2nd. Until then it’s a case of spend and promote. Groundwork.
Expenditure: £100 dead. Fifty quid deposit to the venue and fifty quid on posters and flyers (by calling in a favour from local printers).
The remaining £50 of the room hire comes out of door take on the night—so I get to squeeze in to the £100 challenge after all.
All this expenditure is split 50/50 with my DJ partner, so I’ve personally only blown £50 on it. Mind you, any profits will be split too …
It’ll be interesting to see how something this part-time and lackadaisical stacks up against a ‘proper’ business by the end of the challenge period.
Expenditure: £100 dead. Fifty quid deposit to the venue and fifty quid on posters and flyers (by calling in a favour from local printers).
The remaining £50 of the room hire comes out of door take on the night—so I get to squeeze in to the £100 challenge after all.
All this expenditure is split 50/50 with my DJ partner, so I’ve personally only blown £50 on it. Mind you, any profits will be split too …
It’ll be interesting to see how something this part-time and lackadaisical stacks up against a ‘proper’ business by the end of the challenge period.
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