Learn some great ideas for you child's first business.
Read the full transcript »
Speaker: We are here to talk about real business ideas for kids. It's a good idea to prepare your child, when they are quite young to play once again, make believe that they have a store, they can chose things from their room, toys whatsoever and set them out in a display format and you can be the buyer and come up and say, hi I'd need to buy something for my son for his birthday and they can go through the motion of being someone providing a service or something to sell and they get comfortable with the idea of being in that position. When they are old enough to sit still at eliminate stand, eliminate stand is a no-brainer, but they might need some help when they first start. Yard sales are perfect opportunity for a child to get used to being in a vendor's position where they can lay out their wares and take people's money. My son has sat out on the side of road, selling earthworms on rainy days for fishermen. I have to tell you the story, it's so funny. He sat out there one day in the rain, nobody was stopping of course and I had put him up to this idea to begin with. So I went down to the basement and costumed myself completely from head to toe with a wig and a hat and all, ran around behind the house and came walking down the street as if I was a complete stranger and I went up to his table and kind of mumbled that I was, how much for the worms and he -- long story short, he sold me almost all of his worms, it was $0.10 an inch. He had on his side. Anyways I gave him four bucks and I walked down the street kind of limping, I had to really pretend to be someone else. When I walked back into the house from the basement up through the stairs, my son was jubilant. He was like -- mom, mom you need to believe what happened. This person bought all my worms and he was eating them all the way down the street. I had to laugh - am I so silly? But the point of the story was - is that I have set him up to do this and I wanted to make sure that he was successful. When you see a kid on the side of the road, stop and buy a couple of it, because it really makes a difference for them. They will go, prepare them for later years. They'll try new things and that's important. He really won't instill them with that concept. It's good to try.