Step 1:

For the Winter Market, we started a business called Wood’nSleeves with my partners Aaron and Nathanael. The purpose of our business was to sell phone sleeves and cutting boards. We decided to sell phone wallets because we wanted to sell products that would be useful, relatively cheap and “cool” for high school students. Since many students have cellphones and take public transit, we took that as an advantage to create our phone sleeves. And for the cutting boards, there are many staff members in the school so we decided to make something that they might be interested in. In the end, we were able to make approximately $22 in profit to donate to charity.

Step 2:

The experience wasn’t pretty much like I expected. This is my first time organizing a business and selling products to customers so I didn’t have much experience with this. At first, I thought our product specifically the phone sleeves will sell great without price deduction. But it turned out that we had to deduct our selling price which is originally $2.50.

We had to use math skills to calculate our cost, revenue, profit, floats for the purpose of breaking even and make profit. How much could we make if our products sold out, how much do we need to charge per unit in order to make profit, etc. Creativity and organization were some skills that we applied throughout the Winter Market campaign. With these skills, we were able to come up with ideas for our products, catchy slogans, a name for our business and keep our business organized so we could attract customers.

Step 3:

I’ve learned that to sell products to high school students was quite a bit challenging. First, there are many students that don’t bring money with them. And also, high school students are not willing to pay the original price that we have set. Instead, many of them are willing to pay less than the market value so it struggles our business out a bit. It does matter because it could make a huge impact on the money that is given in. But at the end of the sale, we were still able to make some profit on it. In the future, I would decorate our table better and will figure out ways to promote our products even more.

Core Competency:

I used Communication to bring customers in and sell our products to them. I was able to explain the function of our products and how our products work. I communicated with my group members to brainstorm ideas and improve upon them.