On the 1st of April 2016, Millennia Institute held its annual Social Bazaar, where items ranging from keychains to handbags were sold. The profits from this bazaar were donated to charity. It was an eventful day for both the consumers and the sellers. The success of the event could not have happened if it were not for those who worked behind the scenes, mainly the team leaders and the Entrepreneurship Club members. Team leaders had to contact producers to get the goods for sale and to ensure that all their team members knew what the plan was, while the Entrepreneurship Club members helped guide the sellers in setting up the booths and highlighted what to look out for in the days before Social Bazaar.
There were multiple reasons why these students took up the challenge to join Social Bazaar. One of these reasons was, of course, because they wanted to help the needy through their labour. By having more sellers, it could also mean a greater variety of goods sold, and hence reach a larger group of consumers. All of these would result in greater profit and hence, more money given to charity, which is nice. In addition to that, by taking part in the event itself, students could get a feel of what business life is like. Business is not all about easy money. A lot of planning and coordinating had to be done beforehand to ensure the success of the sale. In addition, by participating in the event, students could also beef up their School Graduation Certificate, which could give them an advantage when trying to enrol in university.
Of course, there were challenges faced in the run-up to the event. One of which was trying to get in contact with suppliers who can sell goods cheaply. To maximise profits, one would have to search hard to find suitable suppliers, which could be time-consuming. Sellers also had to package the goods and set appropriate prices to attract consumers to buy the goods as well as to earn a profit. Another challenge was that on the day itself, the members could face some difficulty in trying to get people to purchase their goods.
Unlike the past, when the event was held outside of school, the social bazaar this year was held in the school itself on a Friday afternoon. That could have both positive and negative impacts. On one hand, sellers could sell goods to students more conveniently. On the other hand, as it was a Friday, students who did not have Co-Curricular Activities that day might not have stayed on in school for the event. Despite all the obstacles the sellers faced, they persevered and made the event a success. Through this success, many of them learnt that innovation is key to business success and that learning beyond the classroom is also important in life.
Written and Edited by: Nurhakeem Ali(14S4), Chiang Jia Leong (15B5)