Notes from the Journey of the Radio 702 / Cape Talk Money Show R1000 ($100) Business Startup Challenge
How I made a Profit in just 6 Weeks and How You Can Too
Tips for Micro-business Entrepreneurs

Wednesday, October 10, 2012

Radio 702 MoneyShow Challenge Update: Week 1


So far, in the first week, I have:
  1. Launched Beautiful Bracelets website, hosting and secured private unique domain, all FOR FREE on www.wozaonline.co.za!
  2. Purchased materials and commenced manufacturing of bracelets.
  3. Sales turnover (of bracelets and advertising space on website) exceeds Start Up capital within Week 1.
  4. Employed first staff member and made first weekly wages payment on Monday 8 Oct. (One the objectives of the business being to create employment).
  5. Secured people to advertise on the website/blog in exchange for cash/discounts on fees/services.
  6. Spoke about the business at every opportunity to friends and strangers (even in bank queues, getting their contact details to invite to future events where products will be sold).
  7. Maintained a daily Blog detailing the journey (objective in part to provide encouragement for anyone wanting to start a new business with virtually no money.)
  8. Managing Social Media Strategy via Twitter/Facebook Page http://www.facebook.com/1000BeautifulBracelets .(Need more followers on Twitter!)
  9. Arranged Beautiful Bracelets Launch Party for Thursday 11 October - without cost! Hosted by a friend who suggested/offered the Party and is covering catering/venue.
  10. Arranged for/engaged a personal business coach to help me win the Challenge, first meeting scheduled Saturday 13 Oct (with a good friend, Stan Close of KUSASA/EntrepreneursSA, who does this for a living and has worked with many large organisations like Eskom, Iscor assisting Business Start ups over the past 20 years with retrenched employees and others wanting to start a Small Business.). He trains a Small Business Development Course (which I completed in 2008), and is offering his services to me as a friend, with no charge.
  11. Kept a record of cashflow/accounting. (I studied accounting at University but it is not my favourite thing at all).
  12. Lost weight as part of a deliberate plan but the MoneyShow Challenge certainly helped accelerate the weight loss!
  13. Lost sleep!

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