Former
      Student
      Goes
      Into
     
    
   
   
    
     
      Business
     
     
      by
      Sean
      McQuaid
     
    
   
   
    
     
      As
      we
      are
      now
      smack-dab
      in
      the
      midst
      of
      the
      fall
     
     
      university
      semester,
      many
      young
      people
      are
      by
      now
     
     
      busy
      with
      their
      studies.
      One
      former
      UPEI
      student,
     
     
      though,
      has
      lately
      given
      up
      pone
      the
      books
      in
     
     
      favor
      of
      selling
      them.
     
    
   
   
    
     
      The
      former
      student
      in
      question
      is
      Jeff
      Smith,
     
     
      co-owner
      and
      manager
      of
      a
      new
      Charlottetown
     
     
      bookshop,
      the
      "Comic
      Hunter",
      a
      business
      Jeff
     
    
   
   
    
     
      started
      this
      year
      after
      putting
      his
      studies
      on
      hold
     
    
   
   
    
     
      for
      the
      time
      being.
      Why,
      might
      you
      ask,
      did
      this
     
     
      young
      man
      decide
      to
      jump
      into
      the
      business
      world?
     
     
      That’s
      one
      question
      I
      asked
      him
      while
      interviewing
     
     
      him
      over
      lunch
      a
      couple
      of
      weeks
      ago,
      and
      he
      ahd
     
     
      various
      things
      to
      say
      about
      his
      motives.
      Basically,
     
     
      he
      says
      he
      is
      a
      perswon
      who
      likes
      to
      learn
      by
     
     
      doing
      things,
      rather
      than
      preparing
      for
      them
      in
     
     
      study.
      "I
      like
      to
      do
      it",
      he
      says.
      "I’ve
      came
      to
     
     
      believe
      that
      experience
      is
      worth
      its
      weight
      is
     
     
      gold....It
      builds
      confidence
      and
      ability.".
      To
      sum
      it
     
     
      up,
      he
      says
      "the
      disire
      to
      learn
      how
      to
      run
      a
     
     
      business"
      prompted
      him
      to
      start
      one.
     
    
   
   
    
     
      How,
      though,
      did
      he
      start
      his
      business?
      Another
     
     
      good
      question!
      Its
      a
      long
      and
      winding
      road
      to
     
     
      self-employment,
      and
      Jeff
      tried
      to
      more
      or
      less
      map
     
     
      _it
      out
      for
      me
      as
      he
      travelled
      it.
      The
      idea
      came
      to
     
    
   
   
    
     
      Jeff
      during
      his
      third
      year
      at
      university.
      A
      business
     
     
      major,
      Jeff
      had
      completed
      two
      years,
      keeping
      good
     
     
      grades,
      and
      _
      participating
      in
      numerous
     
     
      extra-curricular
      activities.
      By
      third
      year,
      he
      was
     
    

    
     
      impatient
      to
      use
      what
      he
      had
      learned,
      and
      his
      own
     
     
      ideas,
      to
      attempt
      starting
      a
      business.
      He
      settled
      on
     
     
      the
      idea
      of
      starting
      a
      comic
      shop,
      as
      comics
      were
     
     
      something
      he
      ahd
      collected
      for
      years.
      After
      all,
      he
     
     
      reasons,
      it
      is
      extremely
      important
      for
      a
     
     
      businessman
      to
      know
      his
      products.
      That
      way,
      he
     
    
   
   
    
     
      business.
     
    
   
   
    
     
      serves
      his
      customers
      as
      well
      as
      possible.
      He
     
     
      needed
      a
      partner,
      and
      found
      one
      in
      his
      friend
      Mike
     
     
      Ellis.
      Ellis
      was
      enthusiastic
      about
      the
      idea
      of
      a
     
     
      comic
      shop,
      and
      agreed
      to
      join
      Jeff
      in
      starting
      the
     
     
      They
      drew
      up
      an
      agreement
      and
      made
     
     
      their
      partnership
      official
      on
      April
      1st
      of
      this
     
    

    
     
      year,
      a
      date
      which
      Jeff
      assures
      me
      has
      no
      hidden
     
     
      significance.
     
    
   
   
    
     
      From
      the
      start,
      the
      two
      made
      a
      frim
      financial
     
     
      committment
      to
      their
      plans.
      Jeff
      pitched
      in
      six
     
     
      thousand
      dollars,
      the
      bulk
      of
      his
      savings,
      and
      Mike
     
     
      contributed
      fifteen
      hundred
      dollars.
      Par
      of
      their
     
     
      money
      was
      used
      to
      but
      out
      the
      stock
      of
      Darkside
     
     
      Comics,
      a
      Charlottetown
      business
      that
      recently
     
     
      folded.
      Combined
      with
      the
      books
      they
      had-already,
     
    
   
   
    
     
      ‘this
      gave
      them
      a
      good
      selection,
      and
      they
      bought
     
    
   
   
    
     
      books.
      from
      other
      collectors
      in
      later
      months.
     
     
      However,
      the
      seventy-five
      hundred
      dollars
      they
      had
     
     
      sunk
      in
      wasn’t
      enough
      to
      fully
      equip
      a
      business,
     
     
      and
      they
      sought
      help
      at
      the
      Business
      Institute,
     
     
      where
      they
      asked
      for
      a
      loan.
      The
      partners
     
     
      prepared
      a
      cash
      flow
      projection,
      a
      detailed
     
     
      prediction,
      of
      the
      expenses
      they
      predicted
      in
     
     
      running
      their
      business
      over
      the
      course
      of
      a
      year.
     
    
   
   
    
     
      To
      their
      surprise,
      the
      Business
      Institute
      awarded
     
     
      them
      a
      substantial
      loan
      of
      five
      thousand
      dollars
      —
     
     
      after
      studying
      their
      projections.
      This
      was
      their
      big
     
     
      break,
      and
      Smith
      referred
      to
      this
      as
      an
      example
      of
     
     
      good
      luck
      mixed
      with
      work
      paying
      off.
      Having
     
     
      already
      obtained
      their
      business
      license
      and
     
     
      registered
      the
      name
      of
      their
      business,
      the
      partners
     
     
      set
      about
      renting
      business
      space.
      For
      a
      time,
      they
     
     
      rented
      a
      temporary
      space
      in
      the
      Towers
      Mall,
     
     
      setting
      up
      a
      stand
      against
      a
      wall.
      This
      was
      sort
      of
     
     
      "market
      test",
      and
      they
      lost
      money
      on
      it,
      although
     
     
      they
      learned
      from
      it,
      finding
      what
      did
      and
      did
      not
     
    
   
   
    
     
       
     
    
   
   
    
     
      October
      4,
      1990
     
    
   
   
    
     
      Page
      10