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What could you do with $100

Discussion in 'Introductions' started by ashton, 24th Jun, 2006.

  1. ashton

    ashton Member

    Joined:
    24th Jun, 2006
    Posts:
    5
    Location:
    Brisbane, QLD
    We've recently challanged a number of young entrepreneurs by giving them $100 cash and 31 days to see how much they can make from it.

    There are a few rules, only the $100 can be used as capital, all records and transactions must be kept, at the end of $31 the amount must be counted in cash.

    We've had a few interesting and very creative ideas with some outstanding results.

    I will add the results at the end of the 31 days.

    In the mean while, I'd be very interested to hear your ideas or past success's at similar contests.

    Regards, Ashton
     
  2. TakeStock

    TakeStock Well-Known Member

    Joined:
    14th Aug, 2005
    Posts:
    140
    Location:
    Sydney
    Hi Ashton,

    Sounds interesting. What's the context of the competition ie are you a teacher at a school or college?

    With only a month, long term investments are out and therefore we need a short term view. A few ideas are trading (shares, options), buying and selling goods on ebay, short term business or gambling. In fact, I think you can still get odds of 80:1 for Australia to win the World Cup. The way we're going, this might not be a bad idea.;)

    What other ideas are out there?

    Cheers
     
  3. ashton

    ashton Member

    Joined:
    24th Jun, 2006
    Posts:
    5
    Location:
    Brisbane, QLD
    Haha you've just reminded me of another thing i'll need to add to the rules - no gambling. not that im against a good ole punt..

    We're running the program for a number of under privledge teenagers who are still attending school. Along with a number of topics, we are trying to teach them personal finance and we are hoping that this project (at the very least) gives them the chance to 'think outside the box' and the oportunity to risk somebody elses money.

    we've run it before and its extremely surprizing how some kids just shine, as always tho - there are a few that have no natural entrepreneural ability.

    In the past we've had, kids purchasing car washing equipment & hard selling their service at peoples doors, purchasing some sausages rolls and sauce for a good ole sizzle at the local bunnings, and we've even had a guy set up a 'door entry fee' party and supplied a few slabs of grog..

    thanks for your ideas
     
  4. TakeStock

    TakeStock Well-Known Member

    Joined:
    14th Aug, 2005
    Posts:
    140
    Location:
    Sydney
    That's great. I hope it's a success.

    BTW, I'm always ready to grasp the opportunity to risk someone else's money as well (especially if I don't have to pay it back!):D

    Cheers