The Entrepreneurial Management (EM) Start-Up Lab is the newest facility of the School of Management. Located at what used to be an empty space adjacent to Study Hall A in ACB, it provides students with a space where they can sell their products—whether food, clothes, or accessories—for their New Business Ventures (NBV) class. Some students share their experiences during their use of the start-up lab.
As a budding entrepreneur, I am very grateful to be given the opportunity to showcase my products, which are shoe covers, in the EM lab. This is one of the great opportunities provided by the EM program to market our products before we sell them in the outside world. I also worked alongside other entrepreneurs who displayed their products in the lab. It was a great experience because not only did I get to learn how to sell my own products, but I also gained knowledge from my peers on how they sell their goods. We took shifts in manning the EM lab, so I also got to experience selling and learning about their products. If given the opportunity, I would definitely want to display my products in the lab again.
– Karlo Esguerra, EM III
For two weeks, I sold Italian sodas and cream-based frappes at the EM start-up lab to friends, teachers—anyone who passed by. To be honest, I initially had no plans of setting it up because I found studying and selling a hard balancing act. The only thing that pushed me is the monthly quota we had to reach for our NBV3 class. Opening up at the EM start-up lab was the most convenient thing to do, considering I did not have a physical store for my business yet.
There were a few things that I should have thought of before I started selling. First, I did not put effort in marketing. The business relied on word of mouth through friends and a small sign that I placed on the window. And because I was the only one who registered to use the lab, I had no one to substitute for me when I had class. I was just lucky to have some friends sell for me whenever I could not. Another problem was getting stocks, like ice and soda. With the limited space of the lab and the single refrigerator unit, it was a struggle buying and carrying the kilos of ice every morning to school.
Despite the struggles during those two weeks, I enjoyed the whole process. Aside from gaining new friends through the experience, I also learned how to work under pressure and with needed efficiency. Best of all, I profited more than I expected. Selling my products at the EM start-up lab is something that I would want to do again.
– Jomari Villanueva, EM IV
The EM lab helped me gain a new market and paved the way for me to have a physical store inside the school, which definitely helped boost sales. Usually most of the student population are not aware of the businesses EM students have; they just know we own businesses. The EM lab has helped us to promote our products and the different businesses we have, enabling us to reach new market segments.One of the perks of the EM lab aside from generating more sales is that we get to interact with some of the lower batch EM students; we pick up fresh ideas and we get to develop camaraderie. For example, when a student has to attend class, another student fills in for his/her shift, thus helping each other generate sales.
When I decided to sell my products (longganisa) in the EM lab, there were only two of us seniors, and the rest were juniors. We had very different schedules, and most of us did not know each other, but we still had each other’s backs when it came to making a sale. The EM lab may not be noticeable to other students, but we were still able to attract customers, which helped in the long run.
– Hannah Gomez, EM IV
To know more about the Entrepreneurial Management program, click here.
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