This one’s directed to all the soon
to be anxious parents out there dreading the impending summer break and their
teenage children being home from school for two months. Yes, summer is just
around the corner and it can be a real challenge to keep them occupied and out
of trouble. Likely they have their own plans for how to spend the summer and
are likely expecting that you will be financing these planned activities. The
phrase “want some money? Well then get a job!” Invariably springs to mind in a
situation like this but I want to suggest you try something a bit different
this year. Instead of telling your kids to get a job why not help them to
create their own business instead? I am not talking about the lemonade stand or
the neighborhood car wash I am talking about teaching your kids the ropes of
resale and getting them going with their own small business. Now try not to
look at this as an extra set of hands to help out with your business but more
of a new venture you are investing your time, capital or both into to getting
off the ground. Getting your kids started in their own home-based business is a
fantastic way for you to spend some quality time with your kids while teaching
them some valuable life skills. Your kids getting a summer job is one thing, and
I will not knock it, they can and will learn the basics of being a responsible
adult with their first job. Starting their own business is quite a different
thing and teaches you a multitude of important skills that you cannot gain from
any entry level summer job. Think about what skills you have acquired from
running your own business? You’re in charge of sales, purchasing, shipping,
marketing, accounting, inventory control and In most cases, you’re doing all of
these jobs simultaneously. So just how involved should you be in this process?
The best is to lead by
example. One of the best book I’ve read
as a parent is “Rich Dad Poor Dad: What the Rich Teach Their Kids About Money
That the Poor and Middle Class Do Not!” by Robert T. Kiyosaki. The main point in this book is that as
parents, we teach our kids what we know.
Which is why so many kids follow their parent’s footsteps. Robert describes what rich people teach
their kids about starting business as opposed to getting a job. If you don’t believe us, read the book.
In more practical terms. teach
them the basics show them how and where your selling, get them setup to
sell and then step back and watch them go. Don’t micromanage them and run the
risk of them losing interest instead let them learn the ropes themselves but do
encourage them to ask questions if they are hitting a wall in some aspect of
their business. If you want to get them started dollar wise why not give them a
few hundred dollars initial investment, have them pick out their own
merchandise and then have them pay you back while they keep the profits be sure
to emphasize the importance of reinvesting some of those profits back into
their businesses as well. Foxliquidation offers a wide array of smaller lots
perfect for these aspiring young entrepreneurs have them pick out one of our
lots and tack it onto your next order or perhaps have them select one of our small wholesale lots
which you can order any time and no order minimums would apply. This summer
instead of telling your kids to get a job sit them down look them in the eyes
and say “kid you’re going to be on Shark Tank one day with your next venture
and this is your very first step.”