Remember the scene in "Jurassic Park" where Dr. Malcolm dismisses any notion that the scientists who'd been bringing the dinosaurs to life would actually be able to control them. He said, "Life… finds a way."
I was reminded of this while watching my twelve year-old kid swagger home with a big smile on his face and a pocket full of quarters.
Let me back up: My kids don't particularly like to work for me. I expect excellent work, with no renumeration until the job is done correctly, and the pay is pretty low. This is all by design, of course. To future employers: You're welcome!
So, back to the boy. He'd discovered an unmet demand at his school, and he took it upon himself to fulfill it, figuring this would be easier work than scrubbing the kitchen floor. But first, he still had to make those tiles shine on more time, dump garbage, organize the game cupboard and collect compost leaves for Mom in order to earn his seed funds. Then he rode his bike to the store and bought candy in bulk.
The next day in school, he sold his candy, piece by piece. He's been making enough money to cover his ongoing expenses and keep himself in mechanical pencils ever since. Hence, the swagger.
What I love is all the critical business acumen he's had to pick up along the way:
- Early on, he listened to his customers, and tailored his product to suit them.
- He marketed his products by giving free candy to kids who brought in new customers.
- He's become quite good at gauging the creditworthiness of customers who promise to pay 'tomorrow.'
- To fend off competition, he gives loyalty discounts.
- Specials on Fridays help him move the more sluggish merchandise.
- He's very careful to keep a segregated fund to reinvest in his business before taking his profits.
- Ever-shifting consumer tastes keep him constantly on his toes, innovating.
Even though it's candy, which admittedly isn't the healthiest stuff, I'm still proud of the kid.
In our culture, our young all too often live two or more decades before they actually make any effort to earn money, rather than just have it handed or loaned to them. And every year, new laws further restrict what minors are allowed to do. What a contrast to the not-too-distant past when children from the age of seven on could perform enough household duties to offset the cost of their own upkeep!
Don't get me wrong; a lot of our child labor laws are there for a good reason, but I wonder if we're going overboard now. What happens to people who grow up well into adulthood utterly unaccustomed to the concept of supporting themselves? Or, if the field of their choice doesn't welcome them with open arms, have no idea how to earn any other kind of living?
I expect to get a call from the school one of these days when some disapproving administrator discovers my kid's extracurricular entrepreneurship. Until then, I'm greatly enjoying watching him grow in the confidence that in the all-too near future, he'll be able to make his own way in the world.
Call it self-esteem. Earned.
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Elise Cooke writes books on how to work with what's available in order to achieve independent wealth. She's also accepting applications for new kitchen floor scrubbers willing to work for a nice, crisp Washington.
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