I was a Co – CEO and Founder of LaserWorks.co. I was in a group with Rohan Patel who was the other CEO, Leah Wu and Jake Hermawan. I felt that my group did a really good job in the making of our product and in the actual market.

Our Groups original product/idea was to make laser cut puzzles. We were doing well with prototypes being made and new designs being processed and thought of. By the time we had made 3 puzzles, and had 3 designs our group realised that our idea wasn’t going to work. This is because it would take us 30 minutes to make one puzzle and we had to share the laser cutter. This meant that it would take us 1 hour to make 2 puzzles. This was something that we identified and knew that we had to do something about it. We adapted to our situation and started to make keychains instead. We decided to do this because we were using the same material but we could make around 20 products in the time that it would take us to make 1 puzzle. Realising that this was a massive success we started to get creative and start using different materials to make our keychains. We decided to start using acrylic for some of our keychains to give our customers a bit of variety in the market. These keychains looked insane and we went to multiple different people and asked how much they would pay for it. The price was consistently above 8 dollars. Knowing this our group decided to make a big step that would change our financial income regarding our business. We decided to do custom keychain orders. This is where we went out to people and asked if they would like a custom keychain in wood for 4 dollars or acrylic for $8-$10. This meant that we had over $400 before the market even began, which was incredible! We ended up having over 40 pre-orders or our keychains.

When it came to the market day we were a bit under the pump as some of the acrylic keychains didn’t turn out as well as we hoped due to lack of time. This meant that we made wooden keychains our biggest product for market day. This was unfortunate because another group was doing wooden keychains which meant we had competition which we didn’t have previously. This meant that our on day sales were not as high as we hoped. The actual day was super fun as we got to use our marketing skills, and ty and get people to buy our product. In total we made around $640 with $100 of it on credit card, $400 for pre orders and $140 in cash on market day. Overall this was a great success individually and as a group.

I feel that we worked well as a team because we all could contribute differently throughout this project. This meant that everyone was always working and their effort always paid off. I also think that we collaborated well as a group which helped us move production on quickly, and not get angry at each other. Overall I think that this was an amazing opportunity and I cant wait to be part of it next Semester.

By Eli Saratsis