Raising Entrepreneurs

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If you’re wondering where to find business ideas for kids, you need only look around at the creative ways kids make money already.

With great care, Sadie Rose Zavgren handcrafts striped fleece hats using a pattern she designed herself. Each hat takes about an hour and a half to make, and each one is a labor of love, a study in color and a testament to the craftsmanship of its maker.

In February, she began selling the handmade hats on her Web site, DoYouLikeMyHats.com, and in a little less than three months, she has sold more than 50 hats to customers from all over the U.S. and even as far away as the U.K.

She does all the sewing herself and handles all the financial aspects of the business, from ordering raw materials to shipping product. For now, she offers only her specially designed hats, though she may branch out to capes in the future. She certainly has plenty of time; after all, Sadie Rose Zavgren is only 11 years old …

This story appeared in the Nashua Telegraph in April, 2005, and you can read the rest of it here. Since then, Sadie has gone from strength to strength. By 2006, she had started to outsource manufacturing, and by 2007, she was having to cut back on personalising each and every individual design.

Sadie’s hats are incredibly long, brightly colored, striped felt beanies, reminiscent of the Cat in The Hat’s famous hat.

“I used to let people customize their hats but it got to be too much,” Sadie Rose told The Monadnock Ledger in January, 2007. “About two months ago, I changed the website and I have my whole inventory on my website.”

She markets her traditional hat at a cost of $30, and now also offers a new design that costs $36 because it includes a little pocket on the outside brim of the hat for carrying iPods, gum or keys.

Sadie Rose has invested some of her earnings in the stock market.

“I was doing great, but stocks went down last week,” she told The Cabinet a few days ago.

What a great example to aspiring young entrepreneurs!

Sadie Rose started out doing something she loved - sewing - and responded to market demand when she set up her business. She is saving a large proportion of her earnings, and now she is learning how to invest for her long-term security. And she’s still only fourteen!

You can see more of Sadie Rose and her hats at http://www.doyoulikemyhats.com

A while ago, I heard about Peter Economy, author of many books, including about 10 of the “For Dummies” series, embarking on a program of giving back - doing what he loves to do, which is writing, but writing books that would raise funds for charity.

I immediately sent in an application to ask that his first book be on financial education, with the proceeds going to a microfinance charity, and offered to co-author the book.

After a months-long, global search, and a selection panel of three considering the dozen short-listed applications, it seems that the selection panel agrees with me - this is a book that needs to be written!

Peter just contacted me today to let me know that I am to be the co-author of his first “Free Book” - the books themselves won’t be given away, of course, or there would be nothing to give the charity, but Peter and I are donating our time to write and promote the book.

As you can imagine, it was excitement all around at the Cash-Smart Kids office today!

You can read more detail at Peter’s blog, and I will no doubt drop the occasional progress report into a post here and there. We’re expecting the book to hit the stores early next year, if all goes to plan.

We will be looking for some young entrepreneurs and their families to interview for the book, which, as you can imagine, will be a huge boost to any fledgling business. Let me know if you’d like to be considered!

A little while ago I posted a profile of this young man in Hubpages (go to hubpages.com and search for “David Wilkinson”and you’ll find it) - he’s another kid blogger who is taking the world by storm.

Today I have received several emails from people promoting David’s new product, including this one from Justin Brooke:

*****************************************
… delete this message
right now if you have no interest in
affiliate marketing. Because I’m about
to promote an affiliate marketing product
to you. The only one I have endorsed!
*****************************************

About 3 months ago an online buddy of mine
introduced me to a 13yr old kid named David
Wilkinson.

I was kinda wondering why he wanted to talk
to me as we’re in different circles. Come to
find out he wanted to interview me about site
flipping.

Which was cool and we ended up talking a lot
online over Skype. I’ll tell you there were
so many times I forgot this kid was only 13yrs
old. The way he talked about marketing sounded
like he was a 10 year veteran.

The coolest part is he has all kinds of new
tricks. Things the “grown ups” as he calls them
would never have thought of. I normally would
never promote YET ANOTHER affiliate marketing
ebook…

However, after talking to him for so long and
really seeing what a genuine person he is, plus
using some of his killer techniques, I promised
him I’d give him my endorsement.

Now just to show you how much I really like
the kid here is a naked link - That will give
me ZERO credit for promoting the book.

http://www.affiliatedefined.com

I really don’t care if you buy his book or not
it’s not going to change my life at all. I just
really do like this kid and want to help him out.

However, if you want to help me get credit for
promoting him. I’m willing to reward you nicely.

Consider it a trade…

>> You get an awesome book on affiliate marketing
>> Little David earns some more candy bar money
>> I get a commission
>> And you get a killer bonus from me

Wait…You win twice there!

If you order through this link…
http://www.affiliatedefined.com/cmd.php?af=722064

I’ll trade you this bonus…
*************************************************
==> 6+ videos on how to get traffic

==> 19 ways to create products quickly

==> How to create video products

==> How to set up traffic tracking
on your web pages

==> How to PROFESSIONALLY research niche
markets to find BUYERS

==> How to automate your business so you’re
making money in your sleep

==> 15+ Fully pre-made products with salesletters
and graphics ready for you to make money off of

==> Custom software that actually grades your
marketing ability on multiple fronts so you
know exactly what needs fixing and what are
your strengths!!!
****************************************************

Please only make this purchase if you can really
afford it. The last thing I want to do is create
hardship in your lives.

It’s a great book written by a phenomenal kid.
But this is not something that will make all
the birds stop flying and the and sun from rising
if you don’t order.

Go Bigger,
Justin Brooke

It seems young David has won the respect and endorsement of some of the big names in internet marketing - and at just thirteen years of age. Well done, David!

I was browsing around the internet today, and came across this young man. Aussies tend to be fairly quiet about their accomplishments, and particularly young Australians - they just don’t show up in internet articles and news stories the way the Brits and Americans do, so it’s nice to find a young entrepreneur with such a great track record.

At the age of 25, young entrepreneur Daniel Clarke has achieved more than most do in a lifetime.

Daniel was the Career Achievement 1999 NSW Young Australian of the Year as well as a member of the Asia Pacific Economic Co-operation (APEC) Young Leaders Forum, the 2000 National Youth Roundtable, the Australia Day Youth Committee, the Australian Tax Office Personal Taxation Advisory Group, various World Vision conventions and several technology based industry bodies.

Daniel currently owns and runs three companies, AussieISP, AussiePCShop.com, AussiePCFinance and AussieDial and has been running his own company for nine years. Daniel also regularly encourages other young Australians to achieve their goals and aspirations.

While running his own business, Daniel is currently completing a Commerce Law Degree full-time. If that’s not enough, he is a director of Life Changing Experiences Foundation Ltd and chair of the not-for-profit public company, Enterprise Network for Young Australians Ltd. ENYA is a charitable institution and was formed with the support of the Australian Federal Government with the aim of ‘promoting the active participation of young people in enterprise, in an ethical and sustainable manner’.

Daniel has an impressive career in community organisations and public service, particularly for one so young. He started his business at age 16, but had been an active entrepreneur for many years by then. He was recently asked whether teenagers as young as thirteen can reasonably expect to find paid work.

His reply?

A 13 year old is able to earn money in a variety of different ways. The most common way for you to earn money is through pocket money. Ask your parents what you can do around the house in addition to your normal chores to earn some extra money. If you have even more time and your parents agree, ask your relatives or neighbours what you can do for them to earn some extra money.

Once you have made some money you might want to look into running your own little business to earn some extra cash. When I was 13, I found a cheap supply of candles and perfume, bought them and sold them for a profit to my family and friends. Make sure you talk it over with your parents as they will be the best people to help you get started.

I regularly get emails from kids of 13 and 14, who are deeply frustrated by the barriers they meet when trying to get started in business. Help from parents can really shift some of those barriers, especially when it comes to legal and financial transactions that you aren’t deemed capable of making until age 18.

Kids can make good money from business activities at quite a young age, given the right support. It’s up to parents, or other caring adults, to empower our young people to act on their ambitions.

Today I received an email from the author of an internet marketing course we bought last year, talking about a newly-released book by young entrepreneur, Ryan Allis. Here’s an excerpt:

I’d like to ask you to buy a copy of the book today. Here’s why…

First of all, the book is only $11.53. Second, if you buy your copy TODAY ONLY you’ll receive $750 in bonuses from Ryan and six other A-list of web marketing experts and entrepreneurs.
But first let me share some background…

Ryan built three companies to over $1 million in sales by age 21, raised over five million dollars in venture capital at age 22, and today at age 23 runs an 85 person company in North Carolina called iContact that does over ten million dollars in annual sales. Ryan knows what he’s doing when it comes to business.

I initially discounted him because of his age.

WOW - was I wrong and totally blown away! A 23 year old who runs an 85 person company! I met Ryan last year but had no idea.

Ryan overnighted me a copy of his book last week.  I’ve taken a look and it has definitely earned my seal of approval and strong endorsement.

The full title of the book is ‘Zero to One Million: How I Built a Company to $1 Million in Sales… And How You Can Too.’ If you want to become a multimillionaire entrepreneur, this is your no-BS step-by-step guide.

All of the proceeds from Zero to One Million are going to Ryan’s non-profit organization The Humanity Campaign, which works to reduce poverty and hunger in developing nations by increasing access to education, healthcare, and technology. You can read an article about Ryan’s efforts to give back at http://www.newsobserver.com/business/story/900111.html.

Ryan actually has the crazy goal of being the President of the United States someday-I think he might just make it!

Here’s a message direct from Ryan:

“Zero to One Million is my effort to share my message of entrepreneurial possibility and social change, help anyone (who believes they truly can) become a multimillionaire entrepreneur, and make what I’ve learned the hard way about entrepreneurship, raising investment, venture capital, opportunity evaluation, product development, business planning, building a sales team, management, hiring and retaining superstars, organizational behavior, web 2.0, marketing, and scaling a business accessible to anyone.

Zero to One Million provides a ten step process for building a company from idea stage to over $1 million in annual sales based on my experience building iContact over the past five years to over $10 million in annual sales and 80 employees. We are working to make the book #1 on Amazon and reach the New York Times Bestseller List.”

Isn’t it great to see a young entrepreneur giving back to charitable causes to early in his career? Hats off to Ryan Allis. Oh, and buy his book …