My family is very fortunate to live in a community with great schools. Even in our school district though, it’s evident that some of life’s most vital subjects aren’t actively taught to kids at school. I’m talking specifically about business skills and healthy eating. This post is about that first topic. Business and finance basics are obviously key skills to have in this world, but it hasn’t been baked into most school curriculums. So, if we have those skills ourselves, it’s probably a good idea to get our kids thinking about this stuff as young as they are able to comprehend it.
In a recent trip to the bookstore, we bought this book for me 10 year old daughter:
It’s a really cool book, that has an actual dollar bill embedded into the cover. The book is organized into 50 ideas that kids can execute to start micro-businesses (some good ideas in there for mom and dad too). After my daughter read the book she told us about some of the ideas that she really liked. It was exciting to see her entrepreneurial juices flowing. We finally settled on a “problem” within our house that she could help solve. A business lesson in itself: a good business solves a problem. My daughter is an avid reader and she reads books quickly. So the books that she doesn’t get from the library pile up in her room and she quickly runs out of space on her bookshelf when she gets new books.
So, to solve this problem we’ve decided to work together to create an Ebay bookstore for her books. Her title? General Manager. Here are the basics that we hope to learn while making some change for her personal rainy day fund:
No one wants to buy raggedy looking books. How do we best display the books and communicate how cool the stories are?
How do we let people know that the books are for sale at good prices?
3. Customer Service
Should be #1. Need to make sure that customers get their books on time and that they have a good experience on the store. Feedback is everything on Ebay and on the web overall.
Margins, margins, margins. Shipping costs and other hidden costs have set many good business ideas of the track. Making sure that we know those costs and she know how much money will actually go into her pocket from the sale of each book.
I’m excited to see how her business acumen develops. Will kep you posted over the next several weeks. Should be fun!