Tag Archives: educate

Teen Business Owners- Part One: While Growing Up

When I was younger I remember teachers asking me, “What do you want to be when you grow up?” It was a legitimate question. They were trying to get me to think ahead, get into the practice of thinking about my #Financial Future. This is an important aspect of growing into a well-rounded, contributing adult.

What bothered me is they never phrased the question in a way that impressed upon me that I didn’t have to “grow up” in order to be something. They could have asked, “What do you want to be right now?”, and used my answer to show me how I can create a career for myself right away.
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Many of us are familiar with Proverbs 22:6 which says, “Train up a child in the way he should go; even when he is old he will not depart from it”. Obviously we see this verse as telling us we need to train our child in the Way of the Bible, and that is 100% accurate. Reading the five verses before it shows that this passage is mainly concerned with being sure the child is trained in the ways of strong #spiritual character.

But, why didn’t my teachers and other adults in my life think to themselves to use lessons in business ownership as a way to mold me in both future career concerns as well as spiritual matters? If they had asked me, “What business would you start right now if you could?” I would have told them “a dance squad” or “running errands for people in the neighborhood”. This would have been their opportunity to explain to me:
1. How I’d go about finding other teens to join my business
2. How to attain clients
3. The importance of being honest in my business dealings
4. How to manage an income, etc.

Let’s say a young lady of ten years old wants to start a lemonade stand. Her parents can sit with her to decide a work schedule, price, location of the stand and also what to do with the money earned.
The average American ten year old is well-practiced at asking, “Mom can you buy me that toy?” In this parent’s mind, children of this age should also know intimately how long it takes to earn the money for said toy. If she owned a lemonade stand she’d look back at her many hours sitting on the sideaalk waiting for customers, the energy it took to make pitcher after pitcher of lemonade after mom and dad’s friends bought it all. She’d remember the thankful mailman who bought two cups, the draining effect of the weather on her energy and of course the thrill of counting her money at the end of the day. And, of course, she would appreciate her earnings more because she sacrificed her Saturday cartoons in order to work her business. Of course, let’s not forget, this young lady would learn how much of her profits should be put back into the business in order to cover the expenses for the next two weeks, next month, etc.

Our children should be educated in these things when they’re young so that “when they are old they will not depart from” them. Imagine how much better off the American #economy would be today if our citizens were better trained in #entrepreneurship (and all it entails) during their elementary, junior high and high school years.

If a fifth grader started a business and continued his entrepreneurship through his high school graduation he would have seven years of business experience which his peers lack. He would already have a resume whereas his college-bound peers would only be starting their real-life education at the local burger joint.

Imagine where you would be right now if you’d had seven years of business ownership experience right out the gate after your high school graduation! That is a BIG step up ahead of the competition.

Do you not want that for your children?

Adults, I think it is time to stop asking our precious young ones what they want to be WHEN they grow up.

Let’s ask them, “What do you want to be WHILE growing up?”

Biblical #Money Smarts- Part Four: Education

If in Real Estate it’s Location, Location, Location…then in financial wisdom it must be Education, Education, Education!! Think about it. Can you name anyone extraordinarily skilled at their craft who didn’t educate themselves in that craft in some way? Mother Teresa and Ghandi learned the art of self sacrifice. Robert Kiyosaki, Donald Trump and Zig Ziglar learned about money, finances, creating wealth, public speaking and real estate. These individuals didn’t wake up one day with years of knowledge and wisdom downloaded into their brains. It was even said of Christ that He “grew in wisdom and stature”, (Luke 2:52) meaning He displayed more and more of His wisdom as He got older. Now, of course, Christ had all wisdom within Him because He was God wrapped in human flesh but if we are to follow in His footsteps by growing in wisdom then we need to start plugging our brains into wisdom-rich sources. Put down that extention cord…it was a metaphore. You may be tempted to tell me you can’t carve out twenty minutes each day to educate yourselves. To be totally honest, I’M NOT BUYING IT & here are a few reasons why. Drive Time University: In my network marketing business I’ve gotten to know the writings and teachings of a very successful businessman named Jeff Olson. One concept I learned from him is something he called Drive-Time University- listening to audio books, podcasts, etc. while driving from one destinatiin to another. Imagine being stuck in rush-hour traffic while listening to Zig Ziglar speak on patience, endurance, overcoming adversity or other empowering topics. Think of all the places you drive to: Church, work, school, children’s sporting events, visiting family and friends, the grocery store, etc. If you choose to forgo what’s offered on the car radio (which generally has little positives to offer) you’ll have plenty of time to listen to several books per month. I say this from experience!! You can also use your PS3, Xbox or DVD player to play your audio books while doing chores around the house. Yes, you can mop while learning stock options, do the dishes while gaining investment knowledge or learn what a Balance sheet is while folding laundry. So, your “I don’t have time ” excuse can no longer serve as your fall-back, sorry.

Free education? The temptation right now is to move onto popular excuse number two which is, “Financial Education costs too much”. My response to this false statement is: “Does your local library charge an entry fee? You see, most people forget all about the library down the street when they think about how to gain an education. But in today’s world of high-cost colleges and universities, doesn’t it make sense to learn-for free- from successful people like Bob Hopkins, Larry Burkett and Chuck Bentley? There are litterally thousands of books at your library and libraries in neighboring towns from which you can fill your brain with the exact same information you’d get at an Ivy Leauge institution. (I realize that may not be a popular or readily-accepted statement, but I’m here to speak the truth….not win a popularity contest)

The importance of financially educating ourselves cannot be emphasized enough. As stated in the book Where Did My Money Go? by Bob Hopkins: It is enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be revolution before tomorrow morning. – Henry Ford. When I first read that statement I was both annoyed and intrigued. I was annoyed because it was made clear to me that the few, mega-rich who control our economies are counting on us remaining ignorant of how the economy really works. Does that not bother you? It should!! Your continued ignorance helps line the pockets of the few while many of us struggle, barely get by and more of us join the ranks of those below the poverty line. Once I was done being annoyed, intrigue took over and I kept wondering 1. What is it they know and I don’t? 2. What am I missing from my financial knowledge? & 3. What am I doing to keep them in power over me? My eyes would never have been opened the truth that there are a few who want us to remain enslaved; without reading Where did My Money Go? by Bob Hopkins. I would have remained ignorant of what Balance Sheets and Income Statements were if I had not opened the pages of Money Came by The House The Other Day. Digging Out the Money Pit helped remind me of the Biblical truths concerning money management. Stock Investing for Dummies provided a clearer understanding of how the stock market works and of the terms used in the investing/trading world. The list could go on for quite a while. Thanks to my goodreads.com account I know I’ve read over 104 books in my life- not all were financial, but a lot of them were- and I’m sure you have better things to do than read a list of books I’ve read. Did you know stock brokers offer free online and in-person classes? Visit stock broker sites like scottrade.comtdameritrade.com and tradeking.com, search through their education sections and sign up for their free webinars and seminars. Most of the time they’ll ask you to create a profile but that is also free.

So we all agree that education is important. Your “I don’t have time” and “it costs too much” excuses have been laid to rest. (I hear tapps playing in the background) Now all you have to do is begin to educate yourselves. Visit your libraries and community centers, check out stock broker sites, search the internet for free and low-cost financial seminars and workshops, get a hold of audio books, browse amazon & Barnes and Noble for low cost books; whatever it takes to start populating your brain with money-based wisdom. Remember, there are a few at the top of the financial foodchain who are COUNTING ON US REMAINING IGNORANT AND THEREFORE ENSLAVED! Fight against the ignorance, rise above a corrupted system that has been set in place to feed on our lack of wisdom. Your excuses are moot, cost is no longer an issue. It’s all up to you- remain ignorant or get smarter, period!