I have always been such a proud grandparent watching my grandchildren grow and thrive. I have applauded all their achievements and never thought of them as somehow lagging behind in their development until I read a most disturbing article online. It seems that the standards for successful children have changed a bit.

Meet Cory Nieves, who at age 6 decided he wanted to save up money to buy a car. He began a business selling hot cocoa which he expanded to lemonade and cookies. He is now a partner with Whole Foods, Macy’s and everyone else who matters.

How about Bailee Knighten, who at 6 began giving $5 manicures which she turned into Bailee’s Nail Boxes with original designs for nails including emojis.

Michael Wren, who is now the old age of 11, began his own local vending machine company at age 8. He also wrote an Amazon bestseller, “Mikey Learns About Business” and “Biz is a Wiz.”

The list goes on and on. I felt I really needed to let my grandsons know there were amazing opportunities available to young entrepreneurs. Sweet Carter is the baby of the family and just brilliant as far as I can tell. He is very outgoing and I knew this idea would really appeal to him. He also likes money. When I sat down with him for a heart to heart, I asked him about his most serious interests. He thought a while and came up with lunch, recess and throwing sticks for Brownie to catch. I’m not sure about his future just yet, but there’s time, he’s only 6.

I was pretty sure that Harrison, who is 12, would jump right on the idea of being an entrepreneur because he always has a wish list at the ready. I inquired if he had he ever thought about buying stocks in a company that makes video games instead of just buying video games? He replied, “Does that mean they would give you video games?”

“Well, no, but when I was your age, if I had bought stock in IBM or Southwestern Bell, I would be a multimillionaire today.”

He considered that, “So you are saying that if I use my video game money to buy stock in a video game company, in about 50 years I will be rich?”

“Well, not necessarily. You have to choose wisely and spend a lot of time doing research and constantly watch out for hostile takeovers and economic downturns.”

“Thanks, Grammy. I think I will just buy my video game.”

Kurt, who is 10, was my last, best hope. “Say, I wonder if you might have any good ideas for a possible business? Many young people your age have started their own businesses quite successfully.”

I was shocked, but he jumped right on it. “I did have an idea for a business, Grammy. I thought it would be really great if I sold candy to all my friends so I could make a lot of money and get free candy anytime I wanted.”

“Well, that’s not exactly how it works. First, you have to invest your capital in your product, be sure to price it competitively, otherwise they will just buy it at the grocery store. So initially, you will have a very small profit margin, but after a year or so, when you expand your clientele and products, you should be able to clear 10 cents on the dollar, after all expenses, product promotions and inventory control.”

“Thanks, Grammy. I think I will just use part of my money to buy candy and not have to worry about inventory control, whatever that is.”

At Christmas, in addition to their video games, candy and throw toys for Brownie, they will each be getting a copy of “Biz is a Wiz.” Their parents will be getting a copy of “Business Basics Bootcamp for Kids Who Don’t Have a Clue.” I don’t know where I went wrong.

 

Diane Blanco
Author: Diane BlancoEmail: This email address is being protected from spambots. You need JavaScript enabled to view it.

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