What is your favorite child entrepreneur hero story?
My son has become interested in business at a very young age (he's 6 right now) and I would like to introduce him to inspiring stories of young entrepreneurs to give him ideas.
A little background. My son, of his own accord, has successfully sold his jokes by giving 1 for free and charging a $1 for more. He set up a toy sale out by the driveway at 5. He asks questions about the difference between Walmart's and Apple's margins. He hires his sisters (with his Halloween candy) to do work for him to make more money. This is a greater level of interest than his Dad for his age.
I want to encourage his interests in business and need some help.
We recently read of James C. Penny (founder of J.C. Penny) who set up a watermelon stand near the fairgrounds (his Dad scolded him for taking advantage of those within the fairgrounds who paid for selling permits). We read of Orville Wright and when he partnered with his 8-year-old sister to collect scrap iron from the neighbors and sell it to the junk yard (they had a bully attach them when they took the metal to the yard). Great stories.
This morning it occurred to me that if we could read together inspiring stories of young entrepreneurs, then it would give us both ideas.
Particularly, he wants to sell something this year for a project and has discovered from his toy sale (that only earned him $0.25 because he did it on a country road with little traffic) that he needs to find something he can sell and a place with more people to sell it. He needs ideas.
So, what are your favorite child entrepreneurial stories that my son and I can share together?
- Something a famous entrepreneur did when s/he was a child (famous examples).
- Something someone close to you has done that was interesting (non-famous examples).
- Stories you've heard as alternatives to the lemonade or toy stand (perhaps ideas that could work for a boy who lives in the country).
- Any children who've created very successful enterprises.
Good Answers (3)
Rob B.
UK Property Consultant at Ningaloo Reef Investments
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When he was 16 or 17, I think (stretching the definition of child here!) Richard Branson was running a mail order record business. He would import cheap records from continental Europe, put small ads in local papers, and the main contact phone number was a public phone box at the end of his street.
I'm not sure how well he did, but the story goes that he was hit with an £80,000 fine for unpaid import tax at age 18 - and he paid it straight away!
I love what your Little Guy is doing, and I love the thrust of this question. What's his name, BTW?
Makin' Bacon was a neat success story.
http://www.hip2b2.com/news/teenage-millionaires-abbey-fleck/105246/
Julie Sullivan W.
Paris/ Colorado housewife, early adopter and oracle. Present abode: Paris.
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Reminds me of Tom Sawyer!
One avenue a child can use is eBay. I know of a kid who before he was 13 sold $25,000 worth of merchandise on eBay. Very savvy boy.
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Dave M.
Professional trade show booth traffic builder and party entertainer. Corporate and private sector events.
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Child entrepreneurs are not heroes, they just have a knack for making money...
Neil,
I don't have any answers off the top of my head, but it seems with your rural situation, it might be good to move the toy-store concept (whatever that may be) to a more traffic-oriented location. What about an Internet buisiness, or at community functions? I keep thinking of the ol' marketing adage for success: Location, location, location!
If I think of product ideas, I'll let you know. If it's a great one, I might join him!
--Paula
Reno L.
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There was a kid a few yars ago that started a weather reporting website that became very popular.
