They paired off and booked reservations at several restaurants. As the times for their reservations approached, they sold each reservation for up to twenty dollars to customers who were happy to avoid a long wait.As the evening wore on, they made several interesting observations. First, they realized that the female students were better at selling the reservations than the male students, probably because customers were more comfortable being approached by the young women.They adjusted their plan so that the male students ran around town making reservations at different restaurants while the female students sold those places in line. They also learned that the entire operation worked best at restaurants that use vibrating pagers to alert customers when their table is ready.
If you take into account that many of the teams didnt use the funds at all, then their financial returns were infinite. So what did they do?All of the teams were remarkably inventive. One group identified a problem common in a lot of college townsthe frustratingly long lines at popular restaurants on Saturday night. The team decided to help those people who how to make a serious money didnt want to wait in line.
They realized that focusing on the money actually framed the problem way too tightly. They understood that five dollars is essentially nothing and decided to reinterpret the problem more broadly: What can we do to make money if we start ways make money in college with absolutely nothing?They ramped up their observation skills, tapped into their talents, and unlocked their creativity to identify problems in their midstproblems they experienced or noticed others experiencing problems they might have seen before but had never thought to solve. These problems were nagging but not necessarily at the forefront of anyones mind. By unearthing these problems and then working to solve them, the winning teams brought in over 0, and the average return on the five dollar investment was 4,000 percent!
These folks would take a significant risk in return for a small chance at earning a big reward. The next most common suggestion is to how to make money at home sa set up a car wash or lemonade stand, using the five dollars to purchase the starting materials.This is a fine option for those interested in earning a few extra dollars of spending money in two hours. But most of my students eventually found a way to move far beyond the standard responses. They took seriously the challenge to question traditional assumptionsexposing a wealth of possibilitiesin order to create as much value as possible.How did they do this? Heres a clue: the teams that made the most money didnt use the five dollars at all.
They were encouraged to be entrepreneurial by identifying opportunities, challenging assumptions, leveraging make real money online in pakistan the limited resources they had, and by being creative. What would you do if you were given this challenge?When I ask this question to most groups, someone usually shouts out, Go to Las Vegas, or, buy a lottery ticket. This gets a big laugh.
If you dont have time to read the whole thing, just skim and read the words in bold. What would you do to earn money if all you had was five dollars and two hours?This is the assignment I gave students in one of my classes at Stanford University, as part of the Stanford Technology Ventures make money working from home online uk Program. Each of fourteen teams received an envelope with five dollars of seed funding and was told they could spend as much time as they wanted planning.However, once they cracked open the envelope, they had two hours to generate as much money as possible. I gave them from Wednesday afternoon until Sunday evening to complete the assignment. Then, on Sunday evening, each team had to send me one slide describing what they had done, and on Monday afternoon each team had three minutes to present their project to the class.
The following answer by Visakan Veerasamy found. Quora teaches you how you can grow your money when you only have. I remember reading, tina Selligs (executive director of the Stanford Technology Ventures Program) book.What I wish I knew when I was. (I dont know Tina, though I wish I did, and I love her book.).She gave her students the exact same problem. Here are find a job online in london her words, with my emphasis.