Kid Entrepreneurs – A Lesson on Supply and Demand

May 18th, 2011 | 8 Comments |

Kid EntrepreneursI don’t know how many of you are parents, but I learn so much about ambition and entrepreneurship from my kids….one of them in particular. She’s the oldest of all three of my kids and always has her entrepreneurial wheels turning up in that brain of hers. If there’s an opportunity that presents itself where she can make a profit, it’s all she can think about. Sometimes, you just have to tell her to ‘Zip It’ or she’ll drive you nuts. It’s all she can focus on.

That’s Lesson #1 she has taught, or I should say, reminded me of. The most powerful forces on earth are extremely focused. When you know what you want, let it consume you until you get it. We all know how it works. For those of us who used to fry ants with a magnifying glass. Unless you focus the rays that come through that glass, the ant will live. But when you dial that in, focusing your efforts on the target, it happens.

For the last several weeks she has been receiving these tiny little Gel pens from her teachers at school. She loved them so much that she decided to con her Mom into taking her to Hobby Lobby to buy a container of 48 Gel Pens at a price of $9.99. She used a few of them and gave a few to her sisters, as a good older sister would do. She then realizes that she’ll never use all of them and decides to follow the entrepreneur inside and sell them at her school. Her teachers approved her desire to sell the pens as long as she did it on the playground. Some schools can be a bit picky about that sort of thing.

She sells the Gel Pens for $0.50 a piece. Today she sold three. The last time she did this, she nearly doubled her cost for purchasing the pens.

Lesson #2: Supply and Demand. The true Entrepreneurial success comes from something that simple. Where there is a demand, supply. At times, it takes a leap of faith, a little risk and a little money, but it works.

Lesson #3: What if the other kids don’t buy the Gel Pens? The cool thing about being an entrepreneur is that you get to choose your venture. Just choose to do something or sell something you like yourself. If all else fails, you get what you have always wanted. If my daughter failed to sell the pens, she would just have to keep all of these colorful Gel Pens to herself. Bummer!

Lesson#4: Your ideas are just as great and brilliant as every other persons ideas. Have confidence in your abilities and ideas. There is no greater lesson in the world of Entrepreneurship than this. You are a success in the waiting. The reason so many people fail is because they fail to get started.

Lesson #5: Ask for the Sale and don’t shy away after a small rejection! When my daughter asked one of her classmates for the sale, she said she didn’t have the money. My daughter then said, “Well, then you can go ask your Mom for the money.” She didn’t give her an easy out. If someone really didn’t want the pens, make them tell you that instead of settling for an excuse. It’s not being pushy, it’s just being creative. If you really wanted my Gel pen, you’d find a way. And if you can’t find that way, I’ll find it for you!

I hope you can find little lessons such as these from your children as well. If not, it’s possible you’re not paying enough attention to them. It’s possible that they’re budding entrepreneurs. If you are listening and have stories, I’d love to hear about your Kid Entrepreneurs in the comments.

David Allred is the author and creator of CFW. David has been teaching entrepreneur minded people how to earn a full time income working from the comfort of home for nearly a decade.

Think about it. Never miss your kids’ events, set your own schedule, choose your own income and enjoy a lifestyle and income which most people only drool over!

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