Testing A Business Idea On The Cheap

Startup Journal:

Like a lot of new entrepreneurs, Jon Bebo had more education than money. With a degree from the University of Oxford (where he started the first FM student radio station in 1995), he participated in some tech ventures and consulting work. He came to the U.S. in 2002 to get a master’s degree from the Wharton School of Business at the University of Pennsylvania.

He and a couple of other students finished the M.B.A. program early, and they considered the array of business plans they had produced. They opted for an idea to operate a movie concession from hospital gift shops. The venture, called CareFlix, would offer portable DVD players and movies for bored patients and visitors.

But the sprawling medical bureaucracies made daunting sales targets, and uncertainties were too many to raise capital and launch a big campaign.

[So,] they kept costs low and the concept flexible…

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