EVEN GRADUATING AND FRESH GRADUATES CAN SUCCEED INITIALLY IN SMALL BUSINESS

I remember a success story of 5 classmates who were working together in a thesis project as a requirement for graduation. It turned out to be a promising business endeavor. They earned extra income on top of their monthly salary in their respective careers.

They pooled the initial capital from their savings (it’s a very small amout). They came up with a list of possible products to sell until a group member suggested a project they did in high school. The business involved making bags out of old newspapers.

The group joined the school bazaar and to their surprise, they generated sales more than they expected. Considering this as a good beginning, the group decided to continue producing the bags in commercial quantity. After the thesis project was finished, the group decided to continue producing the bags and began selling their items in bazaars.

The group saw the importance of having a brand name. They came up with a German-sounding name which means "to weave" in the Dutch language.

They started with simple designs. Later they were able to come up with more sophisticated designs. They added pockets, flaps, buttons and zipper on their bags for functionality and to keep up with the latest trend.

The bags underwent a series of product development efforts in order to be more acceptable to the market. Among these is the use of synthetic leather to make sure that the bags hold well and for durability. Said one members of the group, "Our bags can withstand the test of time. I use this bag all the time and sometimes water gets into it but it survives." The other is when the group discovered a special coating that made the bags not only durable but water-resistant, as well.

While business did not have direct employees, they tap group of housemaids to weave the banig or mat for them. They pay them for every banig they weave. They feel the satisfaction of being able to help them. They even increased the amount they pay every mat they make.

The group also rode with fashion. They wanted to project that their product are eco-friendly. The group is proud they are able to help dispose of old newspapers and encourage the use of biodegradable materials. They create a fashion statement without harming the environment. They said that people who follow the latest fashion buy bags made of animal’s skin or fur, like snakeskin or wool, to achieve a unique look. Their bags will help achieve the same chic and fun look without harming animals and eventually help in the preservation of the environment.

The group is also looking into the possibility of using other recyclable biodegradable materials like magazines and yellow pages of telephone directories. This endeavor makes them realize how much waste they produce and what they can do to earn something out of junks. Using recyclable materials such as newspapers is also cost because they don’t have to shell out a big capital.

The group is looking into the possibility of expanding its product line to like clutch bags, wallets, and purses.

Today their products come in a variety of colors and shapes. The products retail for P300 to P600 per piece. They sell in bazaars and on the Internet through Multiply, a social-networking site. The group also accepts consignment to boost sales.

The former classmates attribute their success to their four years of friendship. They are aware of each other’s strengths and weaknesses and as such they are more open to suggestions without having to worry we might offend each other. They conduct business meetings to be more fun than stressful. They can meet over lunch for business meetings and once business talks are over they can start catching up on their personal lives over coffee or just unwind by watching a movie.
They believe their business is still in its infancy stage. It has the potential to make a big hit in the market because of their unique offering. They are targeting the export market.

If only all business schools will give the same opportunity the five graduating students were given, then not all graduates will join the band of unemployed yearly. If only the government will include entrepreneurship as part of the high school and college curriculum, then graduates will not fear to try self-employment. Filipino youth are survivors and just like in any business, eventually they will succeed.