Author: Enterprise For KidsTeam

Resale Business Ideas: Amber’s New From Old Enterprise

Enterprise For KidsTeam Family Enterprise Stories, Kids Business Ideas , , , , , , , , , , , , , ,
Resale business ideas with Amber’s New From Old enterprise

Resale business ideas can begin with something as simple as learning how to spot a bargain. For Amber, that lesson began with her Gran, who knew how to find value in second-hand items long before “upcycling” became a popular word.

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This short post begins Amber’s New From Old series. It is the starting point for her resale enterprise, where she learns to find old or unwanted items, improve them and sell them for profit.

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Gran helping Amber discover resale business ideas through bargain hunting
Gran is a great bargain hunter.

Resale Business Ideas: Amber’s New From Old Enterprise

My family immigrated here to Australia from Kenya back when I was just a kid in 1970.

They came out with little qualifications, money or possessions and were supporting a young family. In order to make ends meet, my mother became very good at hunting down a bargain at a variety of places, including op shops, lawn sales, second-hand shops and markets.

Years later, she opened her own second-hand goods shop and did exceptionally well out of it as a small business.

So, when Amber was looking for an enterprise idea, she knew exactly who to speak to.

Learning Resale Business Ideas from Gran

Amber knew her Grandmother was an expert at finding bargains and then on-selling them for a profit.

Her Gran suggested that Amber start her search at the local tip’s recycling centre, a place where thrown-away items are put aside, then sold to the public for next to nothing.

Here was a wonderful opportunity to buy something, fix it up and resell it.

For families in the area today, the Shire of Dardanup Waste Transfer Station and Recycling Centre is a useful reminder that recycling, reuse and waste recovery can create opportunities for families to think differently about what gets thrown away.

One Man’s Trash Is Another Man’s Treasure

The old saying, “One man’s trash is another man’s treasure,” was to ring very true here.

So that is the basis of Amber’s new business.

To create something new from something old.

That is why resale business ideas can be so powerful for kids. A child does not always need a huge amount of money, a shopfront or a complicated business plan.

Sometimes they simply need:

  • someone who can teach them how to spot value,
  • a place to search for bargains,
  • a small amount of starting money,
  • a practical eye for what can be cleaned, repaired or improved,
  • and the confidence to try.

Amber’s New From Old Business Plan

Amber’s business plan was simple and sound.

Find something old.

Look for the hidden value.

Buy it for a low price.

Clean it, repair it or improve it.

Then resell it for a profit.

She was definitely onto a winner.

More importantly, she was proud of what she had come up with.

That pride matters. When children own their enterprise idea, they are much more likely to take action and follow it through.

Why Resale Business Ideas Are Great for Kids

Resale business ideas are wonderful for kids because they teach practical business skills in a very hands-on way.

Children can learn how to:

  • notice opportunities,
  • compare prices,
  • think about what other people might want,
  • clean or improve an item,
  • take a good photo,
  • advertise clearly,
  • talk with buyers,
  • and understand profit.

They also learn that value is not always obvious.

Some people see rubbish.

Others see opportunity.

Amber was beginning to learn how to see opportunity.

Amber’s New From Old Series

Follow Amber’s New From Old journey: This article begins the series. The next posts show Amber putting the idea into action and learning how to buy, improve and sell for profit.

Next we will share Flynn’s business plan for his new enterprise.

It is really a honey pot of gold!

Key Takeaway: Resale Business Ideas Can Start Small

Key takeaway: resale business ideas can help children learn how to spot value, buy carefully, improve second-hand items and sell for profit. Amber’s New From Old enterprise began with Gran’s bargain-hunting wisdom and a simple idea: create something new from something old.

Where to Next?

What old item could your child turn into a new opportunity?

Business Ideas for Kids: Finding Enterprise Ideas

Enterprise For KidsTeam Amber's Stories, Kids Business Ideas, Raising Entrepreneurial Kids , , , , , , , ,
kids entrepreneur ideas inspired by real family enterprise experiences

Business ideas for kids often begin with everyday problems, useful skills and a little creative thinking.

Coming up with an enterprise idea that makes money, solves a real problem and keeps a child motivated is a tall order for an adult, let alone a kid.

Children do not need a perfect idea to get started. In fact, many of the best ideas come from noticing what people need, thinking creatively and using the skills children already have.

business ideas for kids through real family enterprise experiences
Looking for enterprise ideas as a family.

Business Ideas for Kids: Finding Enterprise Ideas

Business ideas for kids are often found by looking closely at everyday life. Coming up with an enterprise idea that makes money, solves a real problem and keeps a child motivated can be a tall order for an adult, let alone a kid.

The trick is to spend time brainstorming ideas together and helping children notice the small problems around them.

What I explained to my entrepreneurial kids was that they needed to think about the problems in our small community town, then look for possible solutions.

By solving people’s problems, children begin to create real opportunities for enterprise.

Business Ideas for Kids Start with Solving Problems

In the original video for this post, I gave the kids a simple example. Winter was drawing near and people were chopping wood ready to fuel their fires.

Problem: No one likes scrambling around outside on a cold and rainy day gathering kindling to get their fire started.

Solution: Collect bundles of gum tree sticks, tie them up and sell them to people who need kindling ready to go.

Step one was finding the problem. Step two was finding the solution. Putting the idea into action would be step three.

What a great and simple enterprise idea.

After hearing this example, the kids had no trouble finding enterprise ideas of their own.

Using Skills to Create Kids Entrepreneur Ideas

Our mentor, Paul Counsel, often shares a great educational basis behind what it means to be entrepreneurial.

He encourages us to consider how we are an asset to others. What skills and knowledge do we have that could be of service to others? What are we good at?

For example, Kaitlin and Amber are very good with toddlers and babies. Every day they were helping with their baby sister Akaisha. They fed her, changed her nappy, bathed her and took her for walks.

Both girls were very skilled and had a natural ease with babies. Knowing when Akaisha was tired and how to soothe her when she was upset became second nature. These abilities could easily lead to real enterprise opportunities.

Everyday skills can become enterprise ideas:

kids helping younger siblings read as part of business ideas for kids
Reading with siblings
kids caring for younger siblings and developing enterprise skills
Looking after Akaisha

Turning Everyday Skills into Enterprise Ideas

The obvious enterprise would be babysitting, but other ideas include:

  • Homework Support — busy parents may need someone to listen to younger children read, practise spelling words or help with writing.
  • Toddler Playmate — after school, some parents may appreciate an older child entertaining and playing with their toddler or baby.
  • Walking Younger Children Home from School — busy parents may appreciate a responsible older child helping with the school run.
  • Sports, Dance, Music or Art Coaching — Amber and Kaitlin could teach other kids how to throw, catch, draw, dance or play music.
child who enjoys helping younger kids as a business idea for kids
Kaitlin loves kids.

These are not complicated ideas, but they are valuable and practical. Children can easily miss this point. Often, they do not realise that skills they use every day may be helpful to someone else.

Finding Business Ideas for Kids Through Imagination

All it requires, when finding enterprise ideas for kids, is a little imagination.

Take the time to identify problems and look at what assets you have that could help people. Helping people is the key to enterprise.

Many ideas are not new. However, children often need guidance to look at their existing skills and realise how valuable they already are.

young musician developing skills that could become business ideas for kids
Budding young musician

A tip for everyone: you can increase your value by up-skilling and becoming an expert in an area.

As your skill increases, your value increases too. Over time, people are more likely to seek your help and pay for your time and knowledge.

How Kids Can Start a Business by Increasing Their Value

For example, being a whiz at sorting computer glitches would make you valuable to people who have computer problems. Being an expert pianist could create opportunities to teach others how to play piano.

Many of these ideas are simple. The real lesson is helping children notice what they are already good at, then think about how those skills could help others.

For older children who are ready to take an idea further, Business.gov.au has helpful information for young people starting a business.

Business Ideas for Kids Are Everywhere

Finding enterprise ideas can be fun, and it isn’t that hard if you do a little thinking and brainstorming first.

Amber will reveal her enterprise idea in the next blog as she begins her quest to reach her goals, so stay tuned.

Key takeaway: Business ideas for kids often begin with simple problem-solving. When children learn to notice problems, use their skills and think about how they can help others, they begin to see enterprise opportunities everywhere.

Where to Next?

If you enjoyed this post about finding business ideas for kids, you may also like:

We would love to hear from you, so please leave a comment.

Vision Board Goals for Kids: Enterprise, Money and Action

Enterprise For KidsTeam Mindset, Confidence & Leadership, Raising Entrepreneurial Kids , , , , , , , , , , , , , ,
Kids writing down goals for a vision board about enterprise money and action

A vision board can help children turn a goal into something they can see, feel and act on. Visualising a goal, evoking the emotional response within, and then taking the necessary action are all important ingredients in achieving something meaningful.

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Whether the action involves acquiring knowledge, building skills, doing something physical or creating a small enterprise, children need a goal they can believe in before they are likely to follow through.

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Family writing goals in a notebook before creating a vision board
A vision board begins with clear goals, written down and connected to action.

Vision Board Goals for Kids: Enterprise, Money and Action

In fact, many leading sports men and women use visualisation as part of their preparation.

I remember reading about one of Australia’s very best runners, Cathy Freeman, who won gold in the 1994 Canadian Commonwealth Games in both the 200m and 400m races.

Cathy began her preparation for the 200m race two years earlier.

Every day she trained and visualised the race in her mind. Her visualisation included every detail of the race, from what she was wearing, to the lane she was in, and how she would run the race from start to finish.

She even pictured the time she would get and how much it would take to beat the second-place getter.

She was so mentally prepared that she had no doubts at all that she had the gold in the bag.

Cathy Freeman showing the power of visualising a goal
Cathy Freeman showed the power of visualising a goal and preparing with belief.
Cathy Freeman winning gold as an example of goal setting and visualisation
Cathy Freeman winning gold.

She had already won in her mind.

As it turned out, she ran the race beautifully. She is a living legend.

Why a Vision Board Can Help Kids Believe in a Goal

Imagine if our kids were able to muster up that sort of determination and self-belief.

It would make anything possible for them.

So our kids needed to see a real purpose in the kids enterprise project they were embarking on. Without a real purpose they could believe in, they would not have the steam to see it through.

Before we even considered kids enterprise ideas, I asked them to think of something they would like to buy with the profits they were going to make from their enterprise businesses.

It had to be something they really wanted.

It also had to be something they realistically believed they would be able to achieve.

From Dream to Dollar Amount

Coming up with ways to spend the money was easy, even though at this stage they still had no idea what enterprise project they would be doing.

But that didn’t matter.

The important part was that the kids established a realistic goal they could believe in with certainty.

If the kids wanted their goal badly enough, and focused on what they needed to do to get that money, then the enterprise had a much better chance of becoming fruitful.

Once the kids had a visual picture of what they wanted, the next stage was to convert it into a dollar amount.

I made a stipulation that their first enterprise idea may not completely reach the whole monetary target they had set for themselves, but it had to at least be able to pay my $100 back, plus $1.

This we called ROI, or Return On Investment.

Future enterprise ideas could contribute to the children realising the rest of their financial goal.

Finally, they needed to set an end date for the completion of their enterprise.

Vision Boards for Kids and Enterprise Goals

The kids jumped onto the computer to find images of the things they wanted to buy when they had made the money.

These images were printed, and each of the kids constructed a vision board.

I laminated the vision boards to make them special and long-lasting.

The vision boards were then stuck on their bedroom walls, where our little enterprising team could look, dream, think and evoke the visual pictures into their subconscious.

Amber's vision board showing goal setting and enterprise goals for kids
Amber’s vision board helped her picture what she wanted to achieve.
Flynn's vision board showing money goals and enterprise ideas for kids
Flynn’s vision board helped him connect his enterprise idea with a goal he cared about.
Chayse and Kit using a vision board for enterprise goals
Chayse and Kit used their vision boards to focus on what they wanted to achieve.

Why This Goal-Setting Activity Worked

This simple vision board activity helped our children connect their enterprise ideas to something personal.

It was no longer just about “starting a business”.

It was about creating money for a goal they could see.

That made the project more meaningful.

The process gave the kids:

  • a clear picture of what they wanted,
  • a reason to stay motivated,
  • a dollar amount to work towards,
  • an end date,
  • and a practical reason to create an enterprise idea.

For children, this is powerful.

They can begin to understand that goals are not achieved by wishing alone. They are achieved by combining belief, focus, planning and action.

Vision Boards Need Action

A vision board is not magic on its own.

It works best when it is connected to action.

That is why we linked the children’s vision boards to their enterprise projects.

They could look at the pictures on their walls, but they also had to ask:

  • How much money do I need?
  • What can I do to earn it?
  • What skills do I need to learn?
  • Who can help me?
  • What is my deadline?
  • How will I know if my enterprise idea worked?

This moved the activity from dreaming into doing.

For a broader reflection on vision boards, visualisation and action, you can also read our article on Vision Board Ideas for Students.

Enterprise Goals for Kids

In the next blog, we’ll take you through the process of how the kids came up with each of their kids’ enterprise ideas.

See you then!

Key Takeaway: A Vision Board Helps Kids Focus

Key takeaway: A vision board can help children picture a goal, believe it is possible and connect that goal to action. When children turn a dream into a dollar amount, an end date and an enterprise idea, goal setting becomes real-world learning.

Where to Next?

What goal would your child be excited enough to picture, plan and work towards?

Learning by Doing: The $100 Family Enterprise Project

Enterprise For KidsTeam Family Enterprise Stories, Family Projects, Money Lessons for Kids , , , , , , , , , , , , , ,
Chayse holding a fifty dollar note for the $100 Family Enterprise Project

Learning by doing is one of the best ways for children to develop enterprise skills. At some point, they need to stop only talking about ideas and begin testing them in the real world.

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For our family, that beginning became the $100 Family Enterprise Project. We gave each of the kids start-up capital, asked them to choose an enterprise idea, and decided we would refine the process as we went.

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Goal setting for the $100 Family Enterprise Project and learning by doing
Goal setting for Enterprise for Kids.

Learning by Doing: The $100 Family Enterprise Project

For our kids to develop the skills and habits of an entrepreneur, they needed to begin somewhere.

But where?

The beauty of Cathy and I having a wealth creation mentor at our disposal was that we could take the invaluable information we had been learning and apply it in small pieces to developing the mindset of our kids.

This process also involved us having a good, hard look at how we operate in our own lives in regards to planning, organising and taking action.

Cathy loves to plan things out in her head and on paper before starting a task. Once satisfied, she will start when all structures are in place.

I, on the other hand, like to dive in and see where it leads.

So a happy compromise was met.

We decided that the kids just needed to come up with an enterprise idea and get started. We could refine the process later.

Learning by Doing Instead of Waiting for Perfect Conditions

Getting the kids to kick off with an enterprise project, when they had little idea where to even start, was easier said than done.

But I knew that one of the things that had held us back over the years was waiting until all conditions were right.

Waiting had seen us miss many great opportunities that were out there.

So we just started.

Admittedly, it was a bit like the blind leading the blind, but we went in with an open mind and decided to see what would happen and where it would lead.

That is the heart of learning by doing. You do not need to know every step before you begin. You need enough of a plan to start, and then the courage to learn from what happens next.

Chayse and Kit drawing their goals as part of learning by doing
Chayse and Kit drawing their goals.

The First Step in Our Kids Enterprise Project

Check out our very first videos.

The filming is pretty rough, as we had our 15-year-old daughter using her creative licence while filming, but you’ll get the gist of what our project is all about if you watch them.

For those of you who would prefer to read, I’ll give you the rundown.

I presented each of the kids with $100 each, except the baby… as all she would do is try and eat it!

Kids receiving start-up capital for learning by doing through enterprise
The $100 Family Enterprise Project begins.
Kids catching fifty dollar notes as part of the $100 Family Enterprise Project
Raining $50 notes.
Children receiving start-up money for learning by doing through enterprise projects
And more start-up money for the family enterprise project.

“Wow!” was their first response.

An early Christmas present!

“Ohhhh,” was the next response. They were more sedate now that there seemed to be a catch.

But they listened to my proposal.

$100 Start-Up Capital for Kids

The kids were to use the money as start-up capital for an enterprise.

Much to their disappointment, they were not to spend it on themselves.

In fact, they were to pay me back once they had attained their business goal.

I was a bit soft on them though.

I also said that I would take the risk. If they were unsuccessful and were not able to pay back the $100, then I would accept that and absorb the loss.

I did this because I wanted them to give their enterprise a go.

I was conscious that if they were too hung up about having to pay me back, then they might worry about their loss and, as a consequence, not find the courage to even start to play the game.

Loaning the $100 was the first step in our elaborate plan to give our kids a shot at being entrepreneurial with their kids enterprise project.

Why Learning by Doing Matters for Kids

Giving the children $100 did not magically make them entrepreneurs.

What it did was make the project real.

Suddenly they had money in their hands, a challenge in front of them and a reason to think differently.

They needed to ask:

  • What could I do with this money?
  • What could I buy, make or sell?
  • Who might want what I offer?
  • How could I pay the money back?
  • What would make the project worthwhile?
  • What would I learn if it did not work?

These are real business questions.

The Australian Government’s MoneySmart guide to teaching kids about money is a useful reminder that parents can start early and make money part of everyday life.

For us, the $100 Family Enterprise Project became exactly that — an everyday, real-world way to teach money, initiative, risk, responsibility and action.

From Goal Setting to Enterprise Action

This article sits at the beginning of our early Enterprise for Kids journey.

First, the children needed goals they cared about.

Then they needed a reason to act.

Then they needed the courage to try.

The goal-setting process helped them imagine what they wanted. The $100 start-up money helped them move into action.

That is why learning by doing became such an important part of the family project.

Follow the $100 Family Enterprise Project

Follow the early Enterprise for Kids journey: This article shows how the $100 Family Enterprise Project began. The next posts show how the children set goals, chose ideas and started learning through real enterprise projects.

The Biggest Lesson: Just Start

Check out our next blog for the subsequent steps in our entrepreneurial quest.

At this stage, we did not know exactly where it would all lead.

But that was the point.

The children were going to learn by doing.

And so were we.

Key Takeaway: Learning by Doing Builds Enterprise Skills

Key takeaway: learning by doing helped our kids begin their first enterprise projects. The $100 Family Enterprise Project gave them start-up capital, a real challenge, and the chance to develop money skills, confidence and entrepreneurial thinking through action.

Where to Next?

What could your child learn by doing if they were given a small enterprise challenge?

Financial Freedom: Our Enterprise for Kids Journey Begins

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Enterprise for Kids family beginning their journey toward financial freedom

Financial freedom was the dream that began our Enterprise for Kids journey. We were one average, large and happy family daring to dream big, hoping to escape the Rat Race and help our children grow up with a different understanding of money, opportunity and enterprise.

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This was our very first post. It marked the beginning of a family adventure where we would learn alongside our children, challenge our own thinking and explore what it takes to raise enterprising kids.

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Enterprise for Kids family about to begin an entrepreneurial adventure
About to embark on our new entrepreneurial adventure.

Financial Freedom: Our Enterprise for Kids Journey Begins

Welcome to our blog, Enterprise for Kids!

We are one average, large and happy family daring to dream big.

We are on a journey to escape from the Rat Race and join the relative few who have achieved personal and financial freedom.

But we have seven gorgeous reasons to try.

We hope to inspire others to follow our lead and to provide our readers with insights and ideas into how it can be done.

Why We Started Enterprise for Kids

Our story begins with a huge understanding of what it takes to be a loving and adventurous family with wonderful family and friends, but only a little understanding of what it takes to be financially successful.

It is from this point, and with the help of a successful entrepreneurial mentor, that we will start our journey.

It is our hope that our children can gain a financial education and success mindsets surrounding money, whilst maintaining a genuine love of life.

For us, financial freedom is not just about money.

It is about having choices.

It is about being able to follow passions, serve others, support family, contribute to community and live with more freedom, purpose and possibility.

Teaching Our Children Enterprise Skills

We want to teach our children how to develop enterprise skills.

In simple terms, that means learning how to spot an opportunity.

We also want them to learn how to put that opportunity into practice through entrepreneurial skills, and of course, how to manage money successfully.

In addition to this, we want them to appreciate and be grateful for all the opportunities they attract, and learn to give back to the community in a way that makes a real difference.

This process will take time, but we hope you enjoy the learning with us.

The Australian Government’s MoneySmart guide to teaching kids about money is a useful reminder that parents can start early and make money part of everyday life.

That is exactly what we hoped to do through Enterprise for Kids — make money, enterprise, giving, gratitude and opportunity part of our family conversations.

Following Each Child’s Enterprise Journey

You will have the opportunity to follow each of our kids on their individual journeys, and ours too.

We also plan to introduce some of our kids’ friends to Enterprise for Kids, and our blog will follow their journeys too.

Conventional thinking may be challenged as we look and reflect upon our own belief systems and learn what it takes for a person to become financially and personally free.

We know we do not have all the answers.

In fact, much of this journey will be about learning by doing.

We will be learning as parents, and our children will be learning through real enterprise projects, money lessons, goal setting, mistakes, action and reflection.

Financial Freedom Begins with Mindset

One of the biggest things we hope to explore is mindset.

How do people think when they create personal and financial freedom?

How do they see opportunity?

How do they use money?

How do they manage risk?

How do they teach their children to think differently?

These are the questions we are beginning with.

As a family, we want our children to understand that there are many pathways in life. A job may be one path, but enterprise, creativity, investing, service, problem solving and contribution can also shape a person’s future.

The Beginning of the Enterprise for Kids Journey

So jump on board and let’s see where this exciting new adventure, Enterprise for Kids, takes us.

Visit our About Us page to meet us all.

Follow the Beginning of Our Family Enterprise Journey

Start here: This first post began the Enterprise for Kids journey. These early articles show how our family moved from dreaming about financial freedom to giving the kids real enterprise challenges.

Key Takeaway: Financial Freedom Starts with a Different Conversation

Key takeaway: financial freedom begins with mindset, learning and action. Enterprise for Kids started as our family’s attempt to teach our children about money, opportunity, gratitude, giving and enterprise while learning those same lessons ourselves.

Where to Next?

What kind of financial freedom conversation could begin in your family today?