Suri Cruise, Kingston Rossdale…the Jolie Pitt kids…think they may miss out on character building lessons if they never learn to make their own money? How about the privileged kids in your life? Beat the summertime blues and help kids make their own money this summer. It’s good for’em! Business Make-over Expert and author, Ellen Rohr has four simple business start-up tips even a 10 year old can do, for turning a bright idea into a booming summer business in a weekend.
As a plumber’s wife, I am particularly fond of home based businesses and I know the impact that can have on kid to know how to make their own money.”
Help Your Kids Make Their OWN Money This Summer!
Introduce kids to the power of written goals and visualization. You don’t have to say, “NO,” to their goals. And you don’t have to pay for them either. Encourage big dreams and help them discover the power, and fun, of achieving goals.
The kids – and YOU – are busy. So, consider what they could do to make money on a Saturday or one day after school. Here are some ideas…
• Piggy backing on a garage sale.
• Putting items in a consignment shop.
• How about a little business like Tutoring, a Home services, Baby sitting, Dog walking?
Six Questions/Six Steps that help kids flesh out a super simple plan: What, Why, Who, How, How Much, When? Answer them and you are rockin’. You may even want to invest or loan them some money to get started. Make sure you agree, in writing, as to how you will get paid back.
Keep track of the money! Money in, money out. Consider requiring that they save 10% of everything they make or earn and put it in a college fund or savings account. You could require a “give back” %, too, to contribute to a good cause. BONUS! It
Ellen Rohr learned how to make – and keep track of – her OWN money! She fixed the failing family plumbing business. And she grew a franchise – Benjamin Franklin The Punctual Plumber – from zero to $40 million in franchisee sales, 47 locations, in under 2 years. She is a serial entrepreneur, and author of the bestselling books The Weekend Biz Plan and Where Did The Money Go?