Join the Allan Gray Orbis Foundation as we harness the platform of the 2014 Global Entrepreneurship Week in November to continue the entrepreneurial revolution in South Africa. We all have the potential to be entrepreneurial and here is your low risk opportunity to prove us right. Take up the “Make a R100” challenge.
The Foundation is gearing up for Global Entrepreneurship Week 2014 and we need your help! Global Entrepreneurship Week (“GEW”) is the world’s largest celebration of the innovators and job creators who launch start-ups that bring ideas to life, drive economic growth and expand human welfare. During this one week from 17th to 23rd November 2014, GEW inspires people everywhere through local, national and global activities designed to help them explore their potential as self-starters and innovator. Only started in 2007, GEW now has over 140 countries participating. For a quick video explanation of the event have a look here.
As our contribution to this global movement the Foundation has initiated the “Make a R100” challenge, which is a campaign designed to encourage South Africans to experience the possibilities of entrepreneurial action in a non-intimidating way. Everyone is challenged during the month of November and particularly during the week of GEW to make a R100 profit (in a legal and ethical way) by providing a creative service or product to a willing buyer. Share your idea on our Social Media page and challenge your friends, family, colleagues and/or classmates to take up the challenge too.
Not wanting to ask anyone to do something that I wouldn’t do myself, there was little option but to take on the challenge. The initial brainstorming didn’t produce any really inspiring results. Would colleagues, really want to pay a premium on the coffee I was willing to buy from the coffee shop down the road? Offering myself as a butler for a few tasks seemed to lack any real innovation. Finally I settled on the concept of scarcity as the driving principle for extracting a premium price – what could be scarcer than an ice cold drink on the top of Lions Head! So the planning and execution kicked off. First purchasing enough stock at the local supermarket, before placing it into the fridge for overnight cooling. Thankfully the weather was generous and the chosen Saturday morning was a scorching hot day. My patience and resilience was tested hauling the 25 drinks up the mountain, not least with the cooler bag strap breaking half way up. While climbing I became so convinced of my idea that I was sure all I would need to do is open up the bag and the drinks would literally fly out themselves. Well, it didn’t happen that way and I found myself confronted with the intimidating realisation that it was time to sell. An hour later with around R340 of sales on a 100% markup and a few loss leaders, a gross profit of R200 had resulted and the job was done! I was amazed at the number of lessons that emerged from this simple exercise:
- Deciding on product mix was vital, no one seemed that interested in flavoured water and diet drinks at the top of the mountain;
- Knowing the context – I lost count of the people that thought the idea was brilliant but had not brought any money with them;
- Don’t forget processes – reconciling actual profit later was a real challenge, even for an accountant, after getting carried away with unrecorded sales at the summit.
And I could go on with a much longer list, but after all the reflection one thing I will not forget is that powerful feeling as people handed over their notes on top of the mountain – the entrepreneurial search process finding validation in the exchange of value. This is the magic of the entrepreneurial journey and one that awaits you in the “Make a R100” challenge.
Now that my challenge is complete, it is time to challenge others to catalyse this campaign into the hearts and minds of South Africa as we aim for at least 10,000 people participating. I therefore nominate the following to #MAKEA100
- Gary Morolo (Entrepreneur and Trustee)
- Adrian Gore (Endeavor Chairman)
- Herman Mashaba (Entrepreneur)
- Alexandra Fraser (Silicon Cape)
- Michael Jordaan (Venture Capitalist)
- Bridgette Gasa (NPC, Entrepreneur and Trustee)
- Lucas Radebe (Sportsman and Businessman)
- Michael Mol (Doctor and Celebrity)
- Rapaleng Rabana (Entrepreneur)
- Gary Kirsten (Sportsman and Businessman)
All the best and enjoy the journey! Tell us about your experiences as you #MAKEAR100.