The MBA Frontier project soldiers on by addressing one of the common concerns about even accredited MBA programs in general: What does any book reading and lecture attending amount to if it isn’t put into practice? As a way of materializing the ideas that I will be reading about I am seeking out side projects and small business opportunities to force exposure to running a business. Time will be spent, and money will be fronted. I’ll resist to call any of this activity an actual small business, since I don’t intend to put the full clout of my efforts into it. Without a doubt it will be nice to know that even if it doesn’t amount to any monetary profits, I’ll at least have an outlet for my experience and my failures to bring me some personal development dividends.
The first outpost I’ve reached as a business side project takes the form of an eBay account. Fantastically late to the game, having never bought or sold anything before on the monumental site, I’m hardly ready to internalize all of the ins and outs of the platform. In this case, that’s really the point. I’m battling my personality and my ingrained standard operating procedures by just jumping in. My very short history for this venture has already taught me a lot and I’m happy to keep tweaking my approach for the day when these business and marketing maxims will play out in a much greater forum:
- Auction mechanisms and buyer psychology
- Properly marketing and cataloging products
- Serving a paying customer, with an eye toward my feeble initial feedback rating
- Actually using the snail mail postal service
- Understanding that I am thrust into a living marketplace and dueling with plenty of professional sales fronts
There’s loads of material already in print and around the net going into eBay strategy and I’m unlikely to discuss any here. I am expecting to continue to share my thoughts on the overall real-world lessons that this project can bring me. At the same time, I’ll be looking out for a next side project to take on and see if I can escalate my risk/reward factor.