• Question: if i gave you 500 pounds how would you make the money back+profit?

    Asked by kbbc to Amit, Emily, Joanne, Martin, Paige on 16 Mar 2012.
    • Photo: Amit Pujari

      Amit Pujari answered on 15 Mar 2012:

      Hi kbbc, that is an interesting question!
      But I must say, I am an engineer so I dont think like a banker or finance adviser, who would know more or better ways of making money+ profit.

      I can not use 500 pounds for doing my (biomedical enginering) work/research. As research machines, equipments are quite expensive.
      I would rather use that money for arranging some engineering workshops for kids like you. The workshops willl be a fun way for kids to learn about biomedical engineering. I will not earn any money but my profit would be: kids will know more about engineering, biomedical engineering, how things work etc. They will use that knowledge for doing something good. And ultimately that will benefit us!

    • Photo: Joanne Davies

      Joanne Davies answered on 16 Mar 2012:

      Hello kbbc. A good thought provoking question. 🙂

      I am going to have to think about this a bit more and get back to you.

    • Photo: Emily Bullen

      Emily Bullen answered on 16 Mar 2012:

      Oooo, good question, that takes some thinking about!
      Well, unfortunately I wouldn’t invest it in my direct line of work, as the return would be far too slow (drug development takes a lot of time, and way more money than that).
      Having recently got married, I’ve found that it’s a pretty lucrative area… I would buy some crafts bits and pieces and make some of the ideas I had for my wedding, to pitch to a shop that sells wedding supplies. 🙂
      That’s probably not what you expected!! but I’m pretty sure it would make a fair bit of money.

    • Photo: Paige Brown

      Paige Brown answered on 17 Mar 2012:

      kbbc,

      That is a good question! I would not make money back, because I plan to use the 500 pounds on outreach activities for students and engineers/scientists to engage in dialogue and for students to visit engineering labs! After that, I hope to recruit sponsors to donate money to keep the project going. 🙂

    • Photo: Martin Wallace

      Martin Wallace answered on 19 Mar 2012:

      This sounds like something you would get asked on the Apprentice.
      There are lots of ways to make a profit, unfortunately £500 wouldn’t go very far in my business. I would say the best way I can think of to make a profit is buying supplies to provide a service. Where I live I suppose there would be a good market for gardening, so I think I could use the money to buy gardening supplies, and offer my services to do some digging, cut lawns, prune hedges and trees etc.

      I don’t have any experience of business and entrepreneurship (if that’s a word) but I imagine this would be a reasonable idea to get started in making my money back. If it doesn’t go very well at least I still have the tools I could re-sell to make back some money.

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