Bill Graf, Artist Ó 2012 Sparks Fly. All rights reserved.
As kids grow, they want to know how to make money. Despite hard times, it is up to us to show them how to do it. Otherwise, we are going to have kids living in the basement forever! Fortunately for us, some kids are interested in making money by doing extra chores. Emphasis is on the concept of doing extra chores because relatively few parents want to bribe their kid for doing what they should do in the home – put away your stuff! The extra chores add value and therefore can be done for a little financial remuneration.
Then there are the kids who are just not into people pleasing. They are not interested in working for someone else, especially not their parents. They don’t want oversight or a boss. These are the kid entrepreneurs or ‘kidpreneurs’ as they are often called. They want to call the shots and be their own boss.
I am lucky enough to have this type of kid at home. He has been this way since about second grade, I can honestly say. His academics are good, especially in math and science and he is solution oriented. He is not a shortcut taker for the sake of shaving off work, instead he is a real problem solver. As a bonus, this young gent also happens to be a very empathetic person. All of these skills make him good at making his own money.
It started with the bake sale, way back when…
Instead of cookies, he put a spin on a cereal snack and then marketed it at the school craft fair. Everyone else was selling crafty homemade whatever. But he figured that all those shoppers would want to graze on a homemade wholesome snack while shopping. Especially since the fair was being held in the school lunchroom. People were already primed to eat, so he showed up with the food and drink to sell at his table. As a bonus, he took some leftover birthday party favors that he took with him to the fair. Those flashy blinking magnetic lapel pins were real attention grabbers! He was visually a stand out from the other tables.
He had all the right elements ~ homemade snacks, flashy lights, and a desire to help his customers. Did I mention a great personality and compusure?
The little tycoon stuffed his backpack with the pre-packed treats (“snack packs for two” is what he called them) and the family worked at his table while he circulated around the other tables, meeting and greeting everyone.
Everyone at the fair wanted to meet him. They like him and they bought his ware and the magnetic lights. This kid “sold old” by the end of the day and the school newspaper
reported that he had made more money than anyone else at the fair.
This was his first business, but not the only business this tycoon started. He has a few income streams. Read more about it in his upcoming book, “Sold Out.”
His takeaway is “Give the people what they want, you’ll make friends and money.”
It was great having the opportunity to be on his team, because he learned what it takes to make money. He also started building his business vocabulary ~ assets, bottom line, capital, customers, freelancers, profit, inventory, investment, slogan and SMILE.
Candi Sparks is the author of children’s books about money Can I Have Some Money?.
Educating Children About Money, Max Gets It! and Nacho Money. She is the Brooklyn mother of two and is on Facebook and Twitter. Her mission is helping to raise money smart kids.