I heard some interesting facts the other day about kids under twenty who had started their own business and have become extremely successful. Some had started their endeavors as young as the age of 6. I was amazed. On one of those evenings where there is nothing I want to watch on TV I sat down at my computer and Googled “young entrepreneurs” and “kids in business.” WOW!!! thehealthyadaptation
Yo-Yo Strings and The Young Entrepreneur
Then I started to think back (which at my age is a lot of thinking) about my cousin, Jeffrey. Jeffrey was one of those kids who could not sit still for five minutes. He was the most annoying child you could possibly imagine. But, Jeffrey was a “young entrepreneur” as I think about it. Yo-yos were very popular in the 1950’s and the strings were always breaking. So Jeffrey (age 7) readmakedo got an idea to sell yo-yo strings….3 for 5 cents. Oddly enough he made some money, partly because kids needed new strings and partly because he was so annoying that we all bought strings just to have him stop pestering us. Perhaps his marketing skills were not the greatest or maybe too hard sell, lavelart but whatever it was Jeffrey was successful. Today he is an architect and runs his own firm and is far less annoying.
Kids taking ownership
We all know that kids are motivated by money. Money can buy stuff, and kids love stuff. It’s hard to teach kids about the value of a dollar unless they earn it for themselves. We can pay them for chores around the house but that does not have the same effect as their coming up with an idea and then acting upon it. They therefore take full ownership. They are the boss. It makes a big difference. It’s creative, it’s educational, it builds confidence and it sets a groundwork that will last throughout their lives. But how does a child go about starting a business?
Bumble or Guidance?
Well, there are two ways. They can either bumble through it making many mistakes and become discouraged when it becomes too difficult or they can get guidance. In my Googleing I ran across a product that was designed by a business Mom in Phoenix, AZ, simply to teach her own daughter entrepreneurship and prepare her for the future. It was such a success that she decided to bring it to the market place after testing it on other kids. She has been written up in most of the Business Journals across the US and has even appeared on Fox Business News, Hardrockhealth and the company is only 6 months old. What I find even more interesting than that is children get very little exposure to business skills in our schools. Why not? Considering the majority of the kids in school today are going to need to earn a living as adults, why isn’t this taught from an early age?
Our kids are taught the arts, sciences and the 3 R’s; but why are they not being taught business skill sets at an early age? This is truly the one of the things they are going to need to be able to function as productive adults and especially in a global economy. Even if they do not become entrepreneurs shouldn’t they be aware of how businesses run? Maybe I am crazy, but I just don’t get it. getaguard
If you get a chance go on the internet and Google kids in business or young entrepreneurs and I am sure you will be as amazed as I was. Plus the fact I had not thought about my cousin Jeffrey and his yo-yo strings for many years. It turned out to be a happy and informative evening for me.