Young Entrepreneurs of YoyoExpert!

Haha, no problem. :slight_smile: Waiting for 4 more answers to come in…got one already.

Just answered! Thank you for this opportunity!

I just sent my message.

This contest is just outstanding for so many reasons.

I myself am anxious to find out what is the wisest approach to time management in this scenario.

Very well done TA. Kudos!

Haha. Thanks Banjo. 3 responses in now. These guys are on their game. There is no “right” answer, but I have to admit that the closer they think to the way I think…the better they will do. :smiley: That is why there is a chance for everyone to win. I think these answers will provoke some good discussion as well.

Speaking of which, these scenarios remind me of the times I would compete at high school business management competitions such as DECA or FBLA. I’m pretty confident and i’m also excited to see what other people answered with because its a learning experience for all of us.

Sent! Loving this contest.

It’s amazing that the prizes are yoyo/stuff I have wanted that I never purchased wow!

I also feel pretty confident about my answer, but you never know. Part of the reason I’m doing this is to learn.

same :)…

I feel really good about my answer it seems like one of the best options.

Oh! Hahaha! We all feel like we have the best answers!

Okay guys, I got all of your responses, except one…so when that answer is in, I will post them all and then comment.

then again we all have right answers.

unless someone answered “yeah I’d just scam them and steal there money”…
That would be terrible :smiley:

Hypothetical #1 (Time Management & Setting Priorities)

You have been taking lots of orders for Beggyoyo holsters. The holsters have been doing well, and you are a bit back logged with orders. There are three holsters left to make. You also have papers to write for school, and things your parents want you to do. It takes you awhile to make a holster, so you have to manage your time wisely and decide which person to make and send a holster to first:

John has been a long time customer. He bought several holsters in the past, and is very understanding. He explained that he wants another holster to match an outfit that he plans to buy.

Susan is a new customer. She never bought a holster until now, and she was referred by a friend. You never met her, but you know that she wants the holster for a yo-yo contest at the end of the week.

Mike has never purchased a holster, but referred many customers to you in the past. He wants a free holster to show to future prospective new customers. You agreed to make the holster for free, for this purpose.

In what order will you make and ship these holsters, as promised to these people, and why?

Answers to Hypothetical #1 in the order in which they were received:

Abby1371:
alright first of all I would finish my academics papers first because school comes before holsters. That and you can’t make a living off making holsters your whole entire life. That and good grades do matter as well as doing what your parents ask you to do because there your parents you don’t need to be grounded over something small that and once that’s over with I can make holsters in my spare time. who I should make who’s holster first would probably Susan,John, then mike. This is because I want to make a good impression on Susan so she continues to buy my holsters so I Have a larger customer base so she can recommend my holsters to other friends of hers. Then I would send johns holster because a very loyal paying customer and I don’t need to get him upset and stop buying holsters due to me ignoring him and giving a long time to make holsters. Then I would do mikes holster. This is because the holster is free not payed for however he is a walking billboard for free so I need to make sure he is pleased with the holster so i placed him last because mike shouldn’t be too upset I mean he’s getting his holster he shouldn’t be too mad about it. That and he probably will still recommend my holsters in the time I get my holster ready to be shipped and sent out. That and I will send all the holsters out at the same time so I can save time and energy instead of running to the post office all the time. That and no one person will be upset because they all will get there holsters around the same time so no one person will be mad or never buy my holster again.

SlimJoe:
Time management is a crucial aspect to any business, specifically retail. Without it, the operations of a business can become too fluid and therefore hard to have efficient control over.

John, Susan and Mike all have prospective attributes to them and their conditions. As you stated, Susan needs a holster before her contest at the end of the week. Compared to both Mike and John, Susan has the nearest deadline. Even though a potential return of investment (not in regard to her actually purchasing the product, but to you putting in the scarce time into making her holster) is available via her by way of her showing off the holster at a contest, she does not have a higher potential return of investment than Mike. Mike has referred many customers in the past, proving that he has a higher potential than Susan. However, considering that Susan needs hers sooner than Mike does, she should be the first to get a holster.

Furthermore, if you spend the time creating Mike’s Holster before Susan’s, as well as juggling all of your other aforementioned responsibilities, Susan may not get her holster in time and therefore may spread a negative connotation at the contest she is attending about your service.

Mike should second in line for his holster because of both Susan’s and John’s conditions. As I mentioned before, Mike carries a higher potential for return of investment than Susan, which is something to definitely consider when making the decision as to who gets their holster first.

John is understanding and has purchased from you before, and as such has a low risk of disappointment. Furthermore, he plans to buy the outfit in the future and has not given you a specific date as to when he plans to buy the outfit. He didn’t say he was not going to buy the outfit if he does not get the matching holster, which shows that he is providing far less pressure in terms of the deadline.

Because of these reasons, as well as the lack of the knowledge of who placed their order first, I think that the order in which these people get their holster should be as follows :

  1. Susan
  2. Mike
  3. John

This way, everyone can receive maximum benefits from their purchases without hurting each other’s circumstantial deadlines.
Thank you!

StringKing:
Okay, here’s my answer after a bit of thought. The order I’d make and send the holsters is:

  1. Susan. She needs her holster by the end of the week, so I have a deadline to make hers. Also, she is a paying customer, and one needs to put the people who are putting money into your business before others sometimes. Another important aspect is that she is a first time customer. If I make a good first impression, she is more likely to buy from me again and/or recommend my products to someone else.

  2. Mike. While he is not paying for the holster, and has not bought one before, he has recommended many customers to my business before. He will be using the holster to recommend my products, so the holster I’m giving him will be good advertising. I also see it as a sort of long term investment; it may not draw people to my business right away, but in the end it will draw in customers (and money).

  3. John. He has bought several holsters already, and is very understanding. He is obviously a loyal customer. Even though he is paying for his holster, if I don’t make it right away I am less likely to lose his business. In the end he will probably still buy from me, and still put money into my business.

Based on the info I have, this is what I’d do.

Bcmaddog:

Mike last, he is getting a free holster, not buying, so since he isn’t paying I can ship it when it’s convenient for me.

Susan first, she needs them by the end of the week, I would make them and ship them as fast as possible.

John second, because he is a ordinary consumer, and because he wants them for a new outfit he plans to buy soon…

Legyoyo:
Since I am very busy making holsters, and I take orders chronologically (via pm), I’d have to take the first customer first. The others will have to understand.
Like if there were a line at a cash register (and there was only one) you’d have to wait.
Of course I’d send pm updates regularly. To let them know exactly what the circumstances are. And to tell them I haven’t forgotten them, and will get to them ASAP. Also, I’d send an apology or two, for the wait.

You can read all the answers, and discuss…with my comments soon to follow.

…is it too late to change my answer?

just kidding, haha.

hahahahahaha. Yes… (:D)

Wow I’m surprised by some of the answers anyone else?

I’m not sure if this has been answered already :

How many questions are we going to be asked?

5 I think…