Sunday, May 17, 2015

Before It's Raining Credit

The key to starting up and growing any business is constantly discovering and milking the ways in which the business recognizes unfulfilled needs in society.  It's not that divergent from contrarian investing philosophy.  In starting up a business, one has to be prepared to venture into uncharted territory with the faith that such venture will be profitable.

In the past few days, I've seen more and more that Filiem is a promising venture.  Though many people seem to recognize a need for students to receive education in financial literacy, new initiatives to make this happen are quite sparse.  In particular, I haven't found any widespread digital materials, which many would agree would be necessary to reach students in their current frames of mind.

In a world where 84 percent of college students in the U.S. self report a desire to learn more about personal financial management (, I can confidently say that the need for a program like Filiem is great.  The credit cards given to college freshmen upon their arrival may be contributing to the average of $4,100 in credit card debt with which these students graduate.  Do we require students to take a brief course online, such as the one I want to offer, before activating these cards?  Do we require them to take such course online at the same time as they carry out other responsibilities such as roommate questionnaires? There are many possibilities, all of which I hope to tackle in the very near future.

I remember being a college freshman five years ago.  We were required to take an online course on alcohol consumption and score a certain number right on the questions following the videos to pass. We also listened to a skit on sexual violence upon arriving at campus.  It was a proud moment when a program on mental health was added to this conglomerate of pre-college preparations.  In my opinion, financial literacy fits right into the mix.  I've wasted no time in suggesting the addition of a financial literacy orientation course to my alma mater.  If they respond well, there's no reason why this concept can't spread.

Having started up many projects in the past, most of which have continued into the present, I've found that the most important tool is confidence.  As corny as that may sound, it seems to me that confidence in the uniqueness of one's idea is the common thread between a lot of successful ventures. Believing in the potential success of an idea is necessary but moreover, believing that an idea can and should transcend what already exists in society is powerful.  I hope that all of you will continue to follow this idea's progress.

Best wishes for the coming week,

Danielle Kerani
VP | True Contrarian