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Sunday, November 10, 2013

Entrepreneurship 101

I voted my young Muslim friend Mustafa most likely to get his own infomercial. Mustafa is a wheeler-dealer. He’s constantly coming up with items – usually food – to sell. His first product – suckers made out of jolly ranchers with starburst centers – sold out as fast as he could make them. His cost: about ten cents per; he sold them for fifty cents.
            
Then he moved up to peanut brittle. One cup of peanut butter, twenty melted butter scotch candies and a box of peanuts. It cost him $1.00 but he sold a bag of brittle for $2.50.
            
This week he outdid himself. He started making granola bars. It’s an easy recipe with oatmeal, crushed up chocolate chip cookies and trail mix. He had pre-orders for fifty (at fifty cents apiece). He can’t make them fast enough to meet the demand.

           
Like the outside world, there is a huge economy operating off the books in here to meet the needs and wants of the population. And guys like Mustafa – even without any business education – understand basic economic principles better than most folks outside. He’s got a future in marketing. More importantly, he’s got a future.

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