The $5 Challenge

16:22

Last week we were issued with the challenge to make as much profit as we could from $5 in only 4 weeks. This seemed like a crazy task, how do we create something from what was essentially nothing?

My team started brainstorming. We came up with ideas such as bake sales, making popcorn and making small knick-knacks, but these all seemed so obvious and straightforward. If we wanted to succeed at this challenge, we needed to identify a problem on campus - and solve it.

We found that people who lived on campus would often have have cravings for food such as maccas and pizza, but weren't willing to make the trek to the store and back to satisfy these cravings. So we addressed this problem by creating 'Halls Delivery', a service that takes your orders and delivers them right to your door for the small fee of $1 for every $5 ordered. Additionally, 50% of our profits would goes to the Australian food based charity OzHarvest.



This seemed like a brilliant idea. Our market was clear and substantial, the task was simple and we offered value to our customers. This would be easy to execute, by week 4 we'd be rolling in cash.



And for the first few days this plan seemed to work great, the orders were coming in gradually and we were generating a steady stream of revenue. But then the 5th day came along, and everything went awry.

It was about 7.30pm, Danushi, Megan and I were going about our business, all blissfully unaware of the chaos that was about to ensue.

Suddenly a notification appears.

"Hey there are you guys good to take an order now?"

"Sure!" We reply, "What would you like?"

It was only then that we realised, our normal driver, Megan, was unavailable, Danushi's bike was broken and me? Well I was stranded at Uni with no money and only the option of public transport. Foolishly, we had failed to plan what we would do when nobody was available.

Left with no other options I resorted to calling my Dad. After much confusion ("So why are you delivering these people food?") my Dad heroically came and picked me up from uni and assisted me with the delivery. Thanks Dad.

While Halls Delivery was a good idea, we simply weren't able to meet the needs of our customers on a regular basis. This event made it very clear that we needed to try something else. We needed to



So, what's next for us? Stay tuned to find out!

You Might Also Like

2 comments

My Blog List