Wednesday, January 10, 2018

How to Encourage a Young Entrepreneur!

Have You Ever Heard of the Secret Millionaires Club?  Here's a Review!

I am the Lucky Grandmother of 4 grandchildren.  Each one has their strengths and weaknesses and one in particular has a penchant for having her own business.  Who would have thought that at the age of 7 1/2, she would want to know how to earn, how to invest and how to make some serious choices in her little life!

It all started out with wanting a horse!  Did I tell you my granddaughter loves horses?  Well the truth is she does!  She is lucky enough that her parents are also a little "horse" crazy!  Mom used to ride, so when the children were looking for a sport, horseback riding was right up there front and center.  It also helps that they live fairly close to farms and stables. 

Horses are not like cats and dogs though!  If you think they are high maintenance, you haven't seen anything yet!  Horses can  break anyone's bank!  They are expensive to buy, expensive to keep and they need grooming, training, riding and treats too, just like any other pet!  

So when my granddaughter asked for a horse, her parents did the smartest thing I could think of.  They sat her down and explained the differences between having a horse and having a cat or dog or any other kind of animal as a pet.  They also explained and had her do the arithmetic to see how much difference there was in this kind of pet ownership.

So how do we go from wanting a horse, to the "Secret Millionaires Club?"  It all lies in affordability!  Ask anyone who owns a horse and they will tell you that you need to have really deep pockets in order to own a horse.  

how to start your very first business, horse ownership, horses as pets
There is always something that the horse or the rider will need, and it usually costs more than a sack of  Dog or Cat Food!

So now I'll let you in on the rest of the story!  My granddaughter, not to be underestimated, has decided to open up her own business so that she can help to buy and take care of a horse!  Her parent's are quite impressed with the fact that she came up with this idea herself.  In order to help her think and plan accordingly, my son (who happens to know a little bit about money and how it works) gave her a great book to study.  Warren Buffet, likes to encourage people to start thinking about money early.  To that end, Warren Buffet has written "How to Start your Very First Business"!  It contains lots of ideas for kid-run companies and stories about awesome kids that are doing just that!
  



When I saw this book on my granddaughter's desk, I just had to take a closer look at it. Her words to me were, "Grammie, I need to make my lemonade stand more profitable!" I almost fell on the floor. She was so serious though, that I just could not laugh, rather I had to take a step back and really look at what she meant.

So this book is now in my hands and I'm reading it with interest for my own sake, for sharing it with others and for my granddaughter!  When she comes to me with an idea for raising some money, I can sit with her and encourage her as well.  As Warren Buffet shows the kids in this book, it's not all about money and how to make it, it's also about giving back and helping others as well.  Success comes from working hard and working smarter too. 

I am impressed with this book!  Not only does it go through the steps to building a business, but it also encourages children to not only set up a great business from the start, but also to think beyond their own wants and desires.  Kids are amazing at what they can accomplish if they are encouraged to do so and this book will definitely give them some really good food for thought and action too!

If you have an entrepreneurial child in your family, this would be a great investment for them and maybe even for you!  Being able to give them good advice is always a bonus!

As for the horse in my granddaughter's future, I'm pretty sure it will happen one of these days.
secret millionaires club, horses, earning money to buy a  horse







Note: The author may receive a commission from purchases made using links found in this article.

6 comments:

  1. I haven't heard of the book before, but I definitely agree that children can accomplish unbelievable things when they are encouraged. I would imagine the book contains some gold nuggets of knowledge for anyone, at any age. I hope you granddaughter gets that horse, or even several horses. We know a few people who own horses and who ride. The vet bills are astronomical, but their owners love them every bit as much as we love our pups and would give up eating themselves if their horse needed something.

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    1. You can say all of that again. My granddaughter will in time get her horse, I'm pretty sure (she's working very hard at it!) But what I love is the encouragement that kids can get from this book, that makes their hopes and dreams seem possible. The old saying if you dream big......at least with this book you can dream big and have a great plan to make it come true. My granddaughter sure does love the horses she's riding right now and I'm sure she'll love her own too! They are just like bigger puppies my grandson tells me! (p.s. he's only 5)!

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  2. Olivia, your granddaughter will go far in this world. She has a terrific attitude toward life and accomplishments. This sounds like a wonderful book for children who want to earn money for a long-term project (like acquiring a horse). I noted that the book is recommended for ages 9-12, so since your granddaughter is only 7, she is way ahead of the game. I'm very impressed with this young lady.

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    1. Thank you for your kind words! She is a mighty dynamo for sure, when she makes up her mind, there is no stopping her. The book is a great way to encourage children to dream with a game plan to make their dreams come true. Would you believe that it even comes with a credit card swiper gizmo?

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  3. Kudus to your granddaughter for taking the initiative to start making money to help with the expenses for the horse she hopes to own someday. It sounds like this book is just the help she needs to make it happen. Motivated children can accomplish great things.

    My own brother loves machines and had an viable lawn maintenance business going by before he was a teen. Not just mowing a neighbor's lawn, but mowing the lawns of most neighbors within walking distance. He even built a motorized cart from a lawn mower engine to move his heavy equipment along the sidewalk from house to house. Once he got his driver's license he had saved enough to buy a truck and expand his business all over town.

    Back in the day, they didn't have books to encourage and instruct young entrepreneurs. How wonderful that books like this one exist now. Sounds like a great book for parents to have around the house and hand to their children at an appropriate time, like when they ask for expensive things they expect their parents to pay for. The earlier children learn financial realities, the better.

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  4. I couldn't agree with you more Barbara! This child is the daughter of my son, who also had his own lawn-mowing business as a high schooler. They did lawns and minor repairs for neighbors all over. Many seniors would ask them to fix small jobs, like gates that wouldn't close properly and that kind of thing. So I guess my granddaughter comes by it naturally. She is a go getter for sure. Horses are expensive and getting them to understand that at the onset is a good thing. Helping their parent's to pay for it is even better......she will certainly one day have a horse and will appreciate him/her even more because she will have helped to buy it.

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