The eBay School Of Business – Entrepreneurship Training The eBay Way
Here’s the scoop on real-world entrepreneurial training; reasons to avoid the ‘casual’ meeting; what happens when equity is divided evenly; and more.
BusinessWeek:
Can selling on eBay help students prepare for launching their own businesses? That was the approach an entrepreneurship professor at Stetson University took to ‘bridge an enormous gap… between most carefully researched plans and the experience of entrepreneurship.’ The purpose of the class ‘was to have the student experience real entrepreneurship with real money, a real organization, and real customers,’ states professor William Andrews in a research paper.
Student teams were given $500 each in startup cash to form five companies, including one that sold high-end tennis racquets, one that traded electronic equipment, and another that re-sold goods bought from local department stores at 75% off. The department store re-seller did best, netting $138. While most of its inventory came from department store clearance sales – which allowed return of unsold merchandise – some came from flea-market sales as well. Some biking shirts at three for $10 ‘seemed like a good deal,’ one of the students reported, ‘but unfortunately, they didn’t sell as hoped.’
The worst performer? The team trying to auction off unsold nights at a hotel in Sanibel Island, which lost $121.
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