Sent by Jonathan Stark on September 25th, 2019
What would you do if you had 2 hours to turn $5 into $500?
Fellow list member Dave Murdock sent in this passage from a fascinating article about a college assignment about how to recognize problems and capture impressive profits by solving then with close to zero investment. Enjoy!
Here’s a story I stumbled across just now:
“They set up a stand in front of the student union where they offered to measure bicycle tire pressure for free. If the tires needed filling, they added air for one dollar. At first they thought they were taking advantage of their fellow students, who could easily go to a nearby gas station to have their tires filled. But after their first few customers, the students realized that the bicyclists were incredibly grateful. Even though the cyclists could get their tires filled for free nearby, and the task was easy for the students to perform, they soon realized that they were providing a convenient and valuable service. In fact, halfway through the two hour period, the team stopped asking for a specific payment and requested donations instead. Their income soared. They made much more when their customers were reciprocating for a free service than when asked to pay a fixed price.”
The value of air… who would have thought.
Found on this thread: https://www.quora.com/