When I was around 9 years of age nothing pleased me more than having a project to do. It always made me feel good to be in charge of something, no matter how big or small. Budding projects do not have to last a lifetime or make millions, it’s just the fact that you take your good idea and bring it to completion.
Take for instance a group of school children given a challenge. They need to make money for a school trip they will be taking. When faced with such a problem, it’s a great idea to brain storm – this way they come up with numerous ideas and suggestions.
All the ideas should be written down and then eliminated one by one until only a few remain, each of the remaining should be given an equal amount of discussion and thought. Now after all this you should be left with one idea which everyone agrees is the best for the situation.
Then you can begin to plan. What items do you need? How will you advertise it? What is the market for the item? Can it be purchased cheaply and sold for a profit?
When all these questions are answered you can begin to implement your plan.
Now lets say for example the idea you are left with is a cupcake sale. If each of the children brought 1 dozen cupcakes to the sale that would amount to 360 different, delicious small cakes that were absolutely free.
The next thing is you need to figure out if this amount is enough to meet your potential sales, if so, you are all set for the next step.
That step should be the advertising, decide what kind of advertising would be appropriate and how you can make sure it reaches all your potential customers. A good idea would be for the children to make posters using poster board, allowing them to do it would again cut down on costs as all you will need is poster board and art supplies.
They could then place the advertisements all around the school advertising not only the sale but also the time and price.
The price should be carefully considered, not overpriced or under priced, you want the person to feel good about purchasing your product. When the day arrives for the sale its all hands on deck everyone working together.
After the sale, say you have sold all the cupcakes at a price of 50c each, you will of made $180 minus the cost of the poster board of $5, your profit would be $175.
So as you can see it’s all in the planning, if you have come up with what you think is a great idea, figure out what you need, how you will advertise it, what the market is like for the product, is it cost effective for you, and what the selling price would be.
You are basically ready to implement your own budding project.