Need money to help your young entrepreneur get his or her business project going? Kickstarter may be just the thing. Kickstarter is a start up web platform that matches aspiring entrepreneurs, artists, designers, writers, filmmakers and others with patrons willing to finance their projects.

How Kickstarter Works:

Let’s say your son or daughter wishes to sell customized T-shirts to their friends or teachers when school starts back up. They want to first create a few examples to show prospects, but will need money for materials once people start buying.

You help your young entrepreneur set a fundraising goal, deadline, and an optional set of rewards for backers. The rewards for the project’s backers can be anything, but preferably related to the project. In this case, some backers may wish to have their own custom T-shirt.

If the goal’s reached by the deadline, then backers are charged via Amazon Payments and they get their cool rewards. If the goal’s not reached, nobody’s charged, so it’s all or nothing.

Is This Good for Young People?

I’d say yes, because it allows your young business owner to familiarize themselves with the concept of taking money and
investing it back into the business to gain more money.

The tone that the folks at Kickstarter set is much like that of social networks, meaning that they encourage a good project creator to do the following:
• Create and upload a video
• Spread the word through their network, audience, friends, and family
• Keep backers in the loop with frequent Project Updates
• Engage with the community that develops around their project
• Fulfill rewards in a timely manner

Be sure to visit www.Kickstart.com for more information

May 5, 2010

From the Statehouse this week…

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April 26, 2010

From the Statehouse this week…

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The coming of spring provides unique opportunities for your young entrepreneur.

I’m sure that during this time of year your son or daughter will repeatedly come to you for money here and there, for an outdoor event or even money for the latest fashion trend that the spring season has introduced. The good news is that the same warmer months that have created new opportunities for your kids to spend your money have also created unique opportunities for your kids to launch their own business endeavors and make money of their own.

Here are a few ideas that can provide your kids an opportunity to make their own spring break income:

For the young entrepreneur that’s good with animals:

Pet sitting opportunities boom in the warmer months with pet owners going on vacation. Many prefer not to leave their pet in a kennel. Depending on how well your child is with animals, it can entail walking, feeding and grooming dogs to something as simple as feeding fish. Older kids that may be familiar with caring for horses won’t find it odd to find homeowners in our area with stables that need their services.

For the young entrepreneur that’s good with yard work:

Simple pulling of weeds and tilling a garden make good starters for kids providing a service to neighbors. Mowing lawns have always been favorites for the young entrepreneur mature enough to handle the task safely. Other jobs that have always been on a homeowner’s spring To Do list have been cleaning windows, trimming hedges and other “curb appeal” tasks.

For the kids with a lot of energy and a couple of friends:

Take two or three friends or siblings, a parking lot with easy access, running water, soap and sponges, and you’ve got a car washing business. Coordinating a week ahead with fliers and signs the day of can add to the number of customers.

For kids that are good with other kids:

Creative kids and those that love the spotlight can do anything from face painting to puppet shows with a little planning. Day cares, churches, local summer camps and even baby sitters are all looking for ways to keep the kids in their care entertained. Your young entrepreneur could be their entertainment while at the same time doing something they also have fun at. The best way to do this would be to approach the group early enough to get on their schedule since many of these services plan their activities in advance.

This spring could be a great way for your kids to learn responsibility and how to manage their own money by launching their own business project suited for the season.

March 29, 2010

From the Statehouse this week…

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March 22, 2010

From the Statehouse this week…

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If you knew that by reading this article, you could reach any goal that you set, would you read it?

Reaching any goal is possible­—the key lies not in setting that goal but in the step before it, which is found in the questions, “What do you want?” and then “Why?”

So many people in sales (although this applies to every area of life) want to jump straight to putting numbers on a page: “I’m going to book this many appointments, sell this many contracts or make this much money.” They set some tangible goal. But these goals become nothing more than numbers on a page unless they become internalized. Each person needs to consider what it would mean to reach them and why reaching them is important.

In planning your goals for 2010 and beyond, you need to start with the “What?” and “Why?”

So, first, ask yourself: “What do I want?”

You may remember reading a poll asking the American people “What do you want?” The number one answer? “I don’t know.” Number two? “To be happy.” And number three? “Money.”
So what’s your answer? Do you truly know what you want?

Consider your definition of happiness. What is your definition of “enough” money? If you don’t set a goal that reflects what you truly want, you’ll always strive for more, which can ultimately leads to burnout, addiction or worse.

But even once you know what you want, you’re still not ready to put numbers on a page yet. Your next step is to run those desires and wants by the five people closest to you to see if they’re consistent with who you are and what truly makes you happy. If you’re not honest with yourself (even if you don’t realize it), they will be.

After internalizing what you want, the next step is to ask yourself: “Why do I want this?”

The tricky part here is that the answer is the question, and the question is the answer: “What do you want?” is the question; the answer is “Why do you want it?” So why do you want to make that much money or book that many appointments?
Here’s the key to asking yourself “Why?” If your why doesn’t really mean something to you, you’ll never achieve it because it’s not really worth making the effort to you.

This is the reason why this series is entitled “The Art of Goal-Setting.” The “what” and “why” are your art. The science, or numbers on a page, only comes after the art is complete. You get to put the colors on the canvas and be the artist of your life. Once you’ve internalized that, then there truly isn’t any goal you can’t reach or anyone or anything that can stop you.

In preparation for this coming year, begin planning around what you truly want to accomplish in life and why you want it. If you plan your goals around those two factors, you’ll set yourself up for success and be pleased with the outcome.

The key to teaching kids anything is to blend learning with fun. Finding teaching moments in everyday life can help you with introducing your child to the world of entrepreneurship.

Like many of you, I grew up loving Monopoly, one of America’s favorite board games, and I wanted to introduce my daughters to the game so that they could share in the enjoyment. I discovered that not only would they share in the fun of the game, but that they would also learn concepts that are important to running their own businesses.

Yes, we had a blast playing the game, but I also noticed my kids experienced a few business concepts during the fun:

1. Have Multiple Streams of Income Rather than a Paycheck Alone.
   My daughters began to learn that although they’d get a “paycheck” each time they’d pass “Go,” it could be gone by the time they’d circle back. Having businesses (properties) that generated income was much better than living paycheck-to-paycheck.
2. Always Keep Money on Hand.
   Finally landing on that desired property and realizing that you didn’t have enough cash on hand was experienced during the game. That Chance card that has you pay for repairs on all the homes you have built taught the lesson of spending wisely and maintaining a cash reserve.
3. You Can’t Get Rich by Renting.
   In Monopoly, the owners of property make money. The renters lose money.
   The game taught my daughters that conducting business caused their income to be larger than their outgo, making them “rich.” The opposite was not what they wanted.
4. Different Business Investments Can Have Different Kinds of Value.
   Everyone always wants to own Boardwalk and Park Place because of their potential value. But they also learned that developing less expensive businesses (properties) that players would land on more frequently than on Boardwalk and Park Place proved to be wise moves.
5. The Art of Negotiation.
   A big part of Monopoly is the art of negotiation. It is so interesting watching my kids’ attempts at negotiating each other and even negotiating with me to swing business deals.

Introducing your kids to basic business lessons and letting them experience a snapshot of the world of entrepreneurship doesn’t have to be hard. It can be as easy as playing your favorite boardgame.

As the Christmas season approaches, the hustle and bustle of time-starved adults creates great money-making ideas for your young entrepreneur.

As with any time of year, the key to a successful business idea—no matter the age of the entrepreneur—is uncovering a need and creating the solution to that need. This time of year, the thing that many people “need” is convenience.

Provide convenience for the gift-giver
Here are a few services your young entrepreneur can provide that will make life easier for their customers and put a little money in their pockets:

• Baking. This is always a winner during the holidays. If your young business person has a talent for making great cookies or other baked goods, this is their time to sell them to friends and neighbors. If they can’t make the goods themselves, no problem! A partnership with mom, dad or grandparents who bake is an excellent way to learn more about business and still sell great Christmas cookies, cakes, etc. (Tip: Have your young entrepreneur promote the baked goods as potential gifts their customers can give to others.)
• Gift Wrapping. After battling crowds in stores and malls, who has the desire to wrap gifts? Your young person can wrap gifts for friends and neighbors and take that chore off of the shoulders of their customers.
• Gift Buying Service. Partnering with mom or dad can position any young entrepreneur to take care of the Christmas shopping for those willing to pay for the convenience of not having to fight crowds to the stores. With the guidance of parental “business partners,” shopping can also be done on the Internet as well.
• Parents Shopping Night Out. Teens or younger entrepreneurs that partner with their parents can provide a twist on traditional baby sitting and brand their service as one that watches the kids while parents shop for their gifts. Daycare services have found great success with this each year.

Provide convenience because of the weather
Other money-making ideas can be provided simply because they eliminate the customer from having to step out of their warm and cozy homes during the cooler months.

• Trash Takeout Service.Your young entrepreneur can service customers in the neighborhood by setting their trash can out prior to trash day and returning the cans after pickup is complete.
• Dog Walking. A good idea anytime of the year, but an even better idea as temperatures get cooler.

As people get busier and busier and as temperatures make staying indoors more desirable, this time of year can create good money making opportunities for your young entrepreneur.

It’s that time of year again when kids begin returning to school. I love the fact that my kids are beginning to embark on their journey through another grade level.

What I actually dread about my kids’ return to the new school year however, is the fundraising!

Now, don’t get me wrong. Each year my wife and I support almost every fundraising effort that can fit into our kids’ backpacks. But many times our kids get fundraising lists almost back to back. I dread pitching family and co-workers about buying candy, wrapping paper or whatever the “fundraiser du jour” is, after having just finished soliciting their help with the last project.

Here are few ideas that may help this school year’s fundraising events become more entrepreneurially sound and more fulfilling to your young entrepreneur.

Now, the best approach would be if the PTA, PTO or other host organization that is having the traditional fundraiser try these or similar ideas to benefit the group themselves. But if that can’t happen, your young entrepreneur can try these ideas individually and use some of the money toward their traditional fundraising project.

Note: All schools have different rules and policies. Make sure you check with your child’s principal or teachers before launching any of the business ideas below. You may get the green light quicker by sharing how these ideas can help with the school’s traditional fundraising efforts.

• After-school snack stand. When kids get out of school, the first thing they want is something to eat. Your young entrepreneur can provide it. And not only the traditional snack items, but many kids enjoy certain side dishes as snacks like mac and cheese or potatoes au gratin. You can help your child serve the hot stuff in styrofoam bowls for a reasonable cost.
• Locker decorating for birthdays. Get creative! Some students may be willing to pay to have their friends’ lockers decorated for their birthdays.
• Make and sell cakes or cupcakes for in-school birthdays. Parents are busier now more than ever before, but they still have kids in school that have birthdays. Your child can even take orders throughout the year and you can help them with the making and delivery of the cakes to the birthday boy or girl’s classroom.
• Customized day planners or organizers.
• Design and set up websites for students, staff or anyone who needs one but can’t do it themselves.
• Produce and sell CD-ROM yearbooks.

Remember, any venture that makes money can be used to help the traditional fundraiser. This way, your young entrepreneur can try something innovative, fun and profitable for themselves as well.