Monthly Archives: December 2015

MiniDollars Hall of Fame

Hall of fame

“The people who are crazy enough to think they can change the world are the ones who do.” Steve Jobs

High school students are famous for causing trouble, missing classes and maddening their parents. However, they are not so popular for being entrepreneurs! And as the only thing that differentiates people from each other is their impact on the world; MiniDollars students are not just like any other high school students.

It all started with Juice box, a team with a small idea to lower the consumption of harmful soft drinks and replace it with healthy juice. They were just high school students, but they were able to transform their idea into a profitable project through a perfect business plan.

Then there were Ethanol and Environmania, they were both working for the same purpose; saving the environment. The champions of the years 2012 and 2013 respectively, proved that business is not just about profit, and businessmen are not just a bunch of soulless humans all what they work for in life is money! Their projects were as successful as they were Eco-friendly, and that is why we place them among the stars of MiniDollars.

Last year, Zoo team tried to change Mansoura zoo into a tourist attraction site, they were so close for being the champions if it were not for The Box team! The Box’s plan was to turn empty freight containers into homes for the homeless! Their project was an absolute stunner that made the cup their own.

These are just few members of the MiniDollars family. A family that proves that age is not counted by years, it is counted by how many lives you have changed! They maybe young, inexperienced and maybe you will call them dreamers. Nevertheless, their impact on the society was monumental. They left their print wherever they went, and that is what makes them special. For that they a deserved a place in the MiniDollars’ Hall of Fame!

The truth about starting your own business

1

Entrepreneurs are made, not born. And like anything else, they are often influenced by society’s beliefs. Some beliefs are encouraging, some are discouraging, and some of them are just plain wrong.

Which one of these was holding you back?

Myth #1: It is all about the idea.

Actually, it is less about your idea and more about your customers. Your idea may be great, but if you are not able to recognize and adapt to new trends and meet the demands of your customers, you may not be in business for very long. Introducing an old idea to a new market is as profitable as creating a new product out of thin air!

Myth #2: Wait for the right moment.

Wrong. The only timing that will ever be right is now. You will never have the perfect resources and you can never figure it all out without taking the first step. And as corny as it sounds, you as an entrepreneur have to take the moment and make it perfect.

Microsoft was founded in 1975, near the end of a recession. And later re-incorporated in 1981, just as the recession of the 1980s kicked off. These were two horrible times to start a business, but that has not stopped Microsoft’s success.

Myth #3: You need millions of pounds to start

Of course, money is an essential factor but you can always start with less than you have in mind. You can start on a smaller scale testing your product and as money starts to come, you can always expand.

Myth #4: You get to do more of what you love.

If you think, you will have more free time then you are wrong. Of course, you can have a more flexible schedule, but your job as entrepreneur is not just doing one task, it is running a whole business.

Myth #5: Built it and they will come.

If it were that easy, everybody would have done it! Just because a founder builds, it does not mean customers will line up to buy it. Customers will always buy the best product. Success in business is really about building the best distribution and marketing for the product. This is where so many business owners forget to focus.

By: Abdelrahman ElEraky