enterpriseforkids.com

Inspiring kids to be entrepreneurial.

Youth Enterprise…. Kaitlin and Jai

September 6th, 2012

So far we have seen Flynn building a great Honey enterprise and actually achieve his goal. Kit had a go at “dog walking”, but quickly cottoned onto the fact that Chayse was making more money than him selling lollies or candy at the local Soccer fields, so has been pursuing that with his brother. They have made quite a team, and we will revisit them in an upcoming blog post. Amber has actually reached her goal with her “New from Old” endeavours and we will celebrate her achievement in another post also.

So that leaves our creative Artist, Kaitlin, and our budding App Developer Jai.

It has been interesting to note on the kids’ journeys, that it is actually easier to introduce a different mindset around money to children who are younger than it is to teenagers or older children. Why would teaching youth enterprise be so challenging? Well, the answer is simple really. In our case, Kaitlin and Jai have been a lot more conditioned around money than the younger siblings. They have been around longer with us as their major source of education. Our thoughts/objections/subconscious beliefs have been ingrained into these two and it is now quite a process to change those beliefs.

Kaitlin and Jai

Luckily for us, Kaitlin and Jai are both quick learners and understand the concepts we have been trying to teach. The main obstacle has been providing the “time” to put this newfound knowledge into action. Being teenagers, their lives are full of homework/study, sporting commitments, social life and social media. All of these are things we want to encourage in our children, so our challenge has been finding the time to also include a Financial Education.

But in the end, as with everything, “life” has been the best teacher of all.

Jai hasn’t had an urgency to pursue his App Developing as there was no time line on when his goal needed to be reached. But since then, his goal has changed. Jai has been accepted into the Country Week Soccer team and will be competing in Perth during the holidays. He has to pay for a good portion of this trip. He suddenly has a renewed vision and goal to aim for, and he has spent countless hours researching a variety of ways to make the money in a short amount of time, kicking his youth enterprise into action!

Jai's focus or goal has changed.....

Jai loves being active and he now has a new goal.

He has come up with different ways to make the money, some of them he wasn’t interested in before. The sorts of opportunities Jai has been looking at are mowing lawns in our neighborhood, finding items to sell and hiring out exercise equipment. Together, he and Trevor worked out he needed to find $10 a day to be able to afford his portion. He has been negotiating with us over particular jobs that need doing around the house (above and beyond household chores) and been getting on and doing them. He has gone through many of his good quality items that were a “must have” when he bought them, then realised that perhaps he didn’t need them as much as he first thought. These, he has posted on Facebook to sell.

So, whilst Jai’s App developing has taken a backseat, it hasn’t been forgotten, it is just something he has recognised as a longer term project and pursuing it now wouldn’t give him the instant money needed to go on this trip. We are proud of his efforts and are sure he will reach his goal in time.

Jai reflected on his Entrepreneurial Journey a few weeks back. Click here to view!

Kaitlin doing what she loves!

Kaitlin, our artist in residence, is finally learning to manage her energy around study, social life, sport and her youth enterprise ventures. She has put a time line in place and is having more requests for art, so has to now take the time to start each piece so it can be finished in time for Christmas (for some) and earlier for others. Having a boyfriend has actually increased her self effacy as she needs to complete certain things before socialising.

Kaitlin and Lachlan

Luckily, lachlan encourages Kaitlin to do that, because he actually wants to have a social life too!

Kaitlin and her friend Georgia are also realising the power of leveraging their time. They have come up with some great ideas around Enterprise and have put steps in place to pursue these ideas. They are longer term goals, but in the end will reap more rewards than working a job. However, they still see the need to pursue their “job” in the meantime, to give them the money to put towards their enterprise when it is up and running. We will keep you posted with their endeavours.

Kaitlin & Georgia

So the journey towards Financial freedom is always a rocky one, but one worth following regardless of what else is going on in your life. Our kids are teaching us so much along the way, and whilst all of their efforts aren’t successful, they are learning from that and moving forward……..and we couldn’t be prouder.

Children Earning Pocket Money… the Candy Man!

August 12th, 2012

We thought it was time that we revisited our little Candy Man Chayse! When we last followed his enterprising adventure he had bought his lollies and bagged them up ready to sell.

If you missed that article, then click here.

Now he has to find a market for his product and learn to be a salesman. Before we share Chayse’s exciting adventure we thought that it would be interesting to consider the benefits of children earning pocket money through enterprise as opposed to children receiving a weekly allowance.

Children earning pocket money through enterprise will develop the mindset and skills of an entrepreneur! Giving children a weekly allowance conditions them to be “workers”. Robert Kiyosaki describes a worker as someone prepared to give their time for money, whilst an entrepreneur builds systems and businesses that produce a cash flow. Workers are more often than not time poor and cash poor, whilst entrepreneurs are generally time rich and cash rich.

Why is it then that the vast majority of us leave school and become workers?

A child receiving a weekly pocket money allowance is equivalent to a worker receiving a weekly salary. Relying upon a weekly allowance won’t encourage children to look for opportunities for enterprise. Their pocket money may or may not be aligned with doing household chores, just as a worker receives payment for doing work. Many kids leave school and slot into jobs for the rest of their lives because they have not been able to explore the entrepreneur within themselves!

Chayse with his box of candy!

Children earning pocket money through enterprise develop a whole different mindset. Parents of these children will encourage their children to look around to find opportunities. These kids learn to identify problems that they can solve and they’ll learn the art of negotiation. Enterprising children understand assets, liabilities, cash flow and profit. They will understand markets and customer service and they will develop the confidence to promote themselves.

Children earning pocket money though enterprise are more likely to value their profits and spend their money wisely. Weekly allowances are easily received and easily spent (knowing that more money will follow). This conditions kids to be reliant on a salary.

Enterprising children become self motivated to make money, and as they celebrate their successes, they quickly come to understand that they can in fact make a lot more money than their friends receiving weekly allowances.

According to entrepreneur, Cameron Herold (ted.com), parents wanting to raise entrepreneurial children won’t give pocket money to their kids. They will encourage their kids to go around their home or community and identify opportunities. These kids then make a plan and negotiate with either their parents or people in the community to provide the service or product for payment.

Getting prepared with his helpers.

Selling to customers.

Kids may not be motivated to do this at first, especially if they have been used to receiving a weekly allowance. The trick here is to make sure they have a big “Why!” They need to want something badly enough. This then becomes their goal and reason.

So back let’s get back to Chayse’s enterprising story! Was he able to earn his pocket money through his Lolly Bag business?

He had his first opportunity to sell his lolly bags at his big brothers’ soccer games. During the game the spectators (his potential customers) mill around on the sidelines. So we primed him on what to say to customers. We also enlisted the help of his brothers, Amber and friends. It was all great fun and soon enough the customers came rolling in!

Now who could knock back buying lollies from a cute smiling four year old!

His lolly bags sold like hot cakes for two dollars each. Chayse couldn’t hold up the box because it was too heavy, so he managed the money jar, whilst his helpers held the box. He had to take his customers money and give change.

As word spread that there were lollies for sale, kids came racing in from all directions to buy Chayse’s product. The box became lighter and the money jar heavier… but despite the weight, he wasn’t going to relinquish it!

Chayse looked after his helpers by giving them each a lolly bag. Hopefully they will be willing helpers the next time he sells something.

Chayse also paid back the money his Dad lent him as capital to buy the lollies and plastic bags from the supermarket.

All up he was delighted with his fifty dollars net profit! He is now well on his way to reaching his goal to buy toy Nerf Guns. In fact his business was so successful, that Kit has recently decided to partner with him for his next endeavour! And under their mother’s guidance, they will research and decide on a charity that could benefit from some of their profits. So, stay tuned for that one!

Chayse is one of those children earning pocket money through enterprise. It would have taken him five weeks, with a weekly allowance of $5 a week to save the equivalent to what he profited at the soccer grounds during a soccer game.

In our next Enterprise For Kids blog we’ll introduce you to a self made millionaire who has some excellent tips for parents wanting to raise entrepreneurial kids. Don’t miss this article!

Flynn’s Honey Turns to Gold!

July 5th, 2012

When we last visited Flynn and his Honey Enterprise, he had just acquired 90kgs of quality raw honey from his Grandad’s bee hives in Geraldton. Flynn had also placed a bulk order for plastic honey pots. He was now ready to fill them up and make his first sale!

Warming the honey.

Honey pots ready to fill.

His honey was held in buckets that weighed over 10kgs. To get the honey from the buckets into the 400gm honey pots was not going to be that easy. Firstly the honey was very thick, making it tedious to decanter into the pots, and secondly it required strength to hold the honey bucket for pouring.

The production line.

Quick! Gimme another pot!

Flynn called on his mates to help. He poured the buckets into a large pot and heated it to 50 degree Celsius. This temperature wasn’t high enough to destroy the enzymes that make raw honey so beneficial, but it was high enough to make the honey fluid.

Mmmm... smells good!

Giving each pot a rinse in fresh water.

The kitchen table was wiped down and set up for the honey pot production line. The team were excited about finally seeing the product in the pots. I helped pour, whilst Flynn and his gang filled and capped jars. The jars were washed on the outside to ensure there was no stickiness and then labelled with Flynn’s “Howitt’s Honey” labels.

First batch stacked and ready to label.

The labels!

Flynn’s product looked clean, pure and professional. He understood that to get a market edge and to be able to sell his honey for a premium, his first class product needed to be well packaged and hygienic.

Flynn carefully drew up a poster pointing out the benefits of his product. This he attached to the boxes containing the honey pots. He had researched what honey sells for in the shops and online. He worked out what he could sell his honey for and still make a decent return. To provided an incentive to customers, he offered a special price if they bought more than one pot at a time. Marketing his honey required little effort. In fact visitors to our home took an interest in his honey and his honey began to sell. He gained permission from his school Principal and left a box in their staffroom. He organized with a teacher friend of ours from another school, to place a box in their staffroom, and he approached the local General Store where he was allowed to sell his pots of honey for a small commission.

Developing the brand "Howitt's Honey".

Flynn's first sale!!

His honey was selling well and it wasn’t long before he needed to re-stock all his boxes. As word got out about his product, people even began placing small orders via the telephone.

Flynn’s “Howitt’s Honey” business went very well except for one problem which I’ll explain here…

Raw honey has many health benefits that you would be hard pressed to find with processed honey. However, a downside with raw honey is that, over time, it will candy (begin to solidify). This occurs especially when the room temperature drops, like during winter. Flynn’s honey that had been waiting to be sold began to candy in the honey pots. People don’t generally want to buy honey that has hardened (hence why commercial honey producers process their honey using heat, as this stops it from candying).

Luckily this problem only happened to the last remaining pots that had been awaiting sale. He brought these home, opened them up and scraped the honey into a pot and heated it back to 50 degrees. This again, liquidized the honey and he returned it to the pots. We bought those last pots for our family. The lesson learned was that Flynn needs to sell his raw honey product before it shows signs of candying and he needed to inform his customers as to what to do if their honey does so.

Profits from Flynn's Honey Enterprise

Flynn’s net profit from his honey enterprise was outstanding!! He achieved his goal that he set before he embarked, plus much more. He learned many lessons along the way and recognized that it was a lot of work, but satisfying work! Flynn has become an expert in the honey business and has gained enormous skills and understandings of how to run an enterprise.

Flynn may now be ready to take his honey enterprise to another level. We hope to guide Flynn to move from being a small business owner to being an entrepreneur! How we do that will be shared in another Enterprise for Kids blog!

For those of you interested in having your own honey enterprise, or you would like your own bee hive for a regular supply of raw honey for your family and friends; then you could seek out an expert (such as Flynn or his Grandad) to get you started, or do a course. Or you could simply download an ebook written by a professional to your kindle. Here is one I found that looks like it covers everything anyone would need to know.

Our next post will definitely energize you! We met an inspirational man who presented “tips to being highly successful” that are well worth thinking about!

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

New from Old… Project 2!

July 2nd, 2012

Amber’s Rabbit Hutch project was hugely successful with her making an easy sale with excellent profit! She now was looking for a new Enterprise for Kids project to keep her enterprise momentum moving forward. So she planned to visit the Geraldton Recycling Centre with her Gran to see if she could find another opportunity.

Amber finds an interesting item.

Amber negotiates with the Recycling Man

Amber's pine timber display shelves.

She was under instructions to only bring home something small, as we were to return to Burekup and we had a lot to fit into the car.

What Amber found was a small pine display cupboard. She thought that it would make a good doll house. As an alternative she could simply tidy it up and re sell it.

Click this link to see Amber tell about her plan for her new project!

She negotiated with the Recycling Centre man (batted her big blue eyes!) and bought the shelves for a couple of dollars. She sanded it back, gave it a coat of varnish and advertised it.

Sold for $15!!

... after a lick of varnish!

Once again Amber was happy with her profit. She added her cash to her money jar in readiness for her next Enterprise for Kids opportunity.

We’ve watched Amber’s confidence skyrocket from running her little business. She is developing skills to negotiate and with marketing. She is also learning to spot an opportunity. All important skills to becoming an entrepreneur!

We do hold the crystal ball and we know what Amber gets up to next! You will be amazed by the opportunities she finds.

Stay tuned for our next entrepreneurial blog. We will find out whether Flynn has been able to sell his honey!

Portrait Artist in the Making!

June 17th, 2012

Kait with that winning smile!

Before we revisit Kaitlin and her Portrait Artist Enterprise, we wanted to share about the idea of manifesting what you desire into reality. We believe having a little understanding about this will make all the difference to achieving goals, dreams and enterprise for kids.

If you have ever watched the movie “The Secret”, which is all about understanding the Laws of Attraction, then you would have some understanding of Quantum Physics. The Secret explains how to manifest things that you desire into reality. It explains that you must firstly see and believe whatever it is that you want, then you evoke it (or emote it) into existence. If all goes well, the thing you desire will at some stage certainly materialise.

Kaitlin procrastinating!

The more we have been learning about Quantum Physics through the studies that we are doing at the moment with our Mentor, Paul Counsel, the more we have come to understand and believe that what the Secret portrays is all real and true, however, the movie doesn’t go into a lot of depth with one very important point (actually there’s another point as well, but that can wait for a later blog!).

For all of the above to actually happen a person needs to make what they want to manifest, their “highest value”. That means they need to put it ahead of all other things, making it their focus. With determination, will and focus, then and only then, will you be able to manifest what you want.

Now that sounds pretty easy, but I will be frank, it is easier said than done! If you are anything like us, you will have very busy, complicated lives and are over-run with distractions. Work, family, social life, worries etc. Your highest value, quite likely is one of these other things and as a result you would be having troubles pin pointing your focus on what you really desire.

Kaitlin’s enterprise plan that she shared in her home video is a very good one, but one that requires time management, focus and diligence. Once the article about her enterprise was posted on “Enterprise for Kids,” Kaitlin received two customers requesting her to do portrait drawings of their families. Kaitlin was delighted that people had actually appreciated her talents and were willing to pay for her service. This was a real opportunity for Kaitlin to follow a passion of hers and she was motivated to get started.

Kaitlin Sliding into Action.

She had bought half a dozen quality timber and glass frames from a garage sale, which would beautifully show the portraits… if her customers wanted them framed that is! She also had the $100 loan from me to buy the art materials required for her to run her enterprise.

So what has happened so far?……….

Distractions, distractions and more distractions!

Distractions!

Kaitlin, being a popular teenager has many demands put upon her and she certainly doesn’t have her focus set on attending to portrait drawings…..yet! It has not become her highest value to develop an enterprise, despite the fact that she really does want to have her own enterprise doing something that she has passion for.

Kaitlin on the Bali Green Supercamp

The list of distractions could amost fill a blog on their own! Kaitlin has been on the Country Week Camp, had sleepovers, caught up with friends, and is currently on the Bali Supercamp. She has had work commitments, baby sitting, sporting commitments, school, boyfriends, homework, modelling classes and family commitments that have all stolen her focus away.

To do portrait drawings, it requires a lot of concentration, patience and most importantly, a “distraction free” amount of time where she can get her head around it. Kaitlin understands that she needs to establish a time management plan where she can devote her focus to what she wants to achieve. Admittedly, Kaitlin doesn’t need to complete the drawings straight away. She has a few months…….but you could see how easily those “few months” could whittle away to nothing without a plan of attack, then taking action to bring that plan to fruition.

That being said, we all must do the same with our dreams and desires in life. Without making what we want, our highest value, with a written plan and then finally focusing all our energy upon it, then it is unlikely that those dreams will come about very easily.

We will keep you in the loop with Kaitlin in coming Enterprise for Kids blog articles. For my next post or two we will have a break from following our kids’ journeys and discuss understandings about developing a mindset for success. We’ll be looking at how we (and 98% of people) are conditioned to think in a certain way about money and how this conditioning may prevent us and our children from achieving success (and we are not just talking about the financial kind either :)………… Until then……………….

Being An App Developer is No Easy Feat!

June 13th, 2012

Jai was super motivated and was like a bull at a gate with his new enterprising idea, which was to design, make and sell an app. For those of you who are not Geeks and are unfamiliar with the terminology, an App basically means Application Software for a devise such as an iPhone, Ipad or computer.

Jai contemplating a good idea.

He bought an Apple App developers license under his Mum’s name and downloaded all the software onto his school’s apple computer (a computer that he gets to loan on a permanent basis until he leaves his school… lucky boy!). He then poured through the various emails and instructions and did whatever was required to get himself underway.

There are ups... and downs!

The process proved to be very challenging and it wasn’t long before Jai was faced with a huge roadblock! He was stumped! The information and requirements were very complicated and technical and Jai really needed professional help to get him through it. I could see his spirits dropping fast, so we sat down for a chat about roadblocks.

To know about apps, you have to play the games!!

When you are “building up” an enterprise idea, it is important not to get bogged down by all the “What ifs”. If we all did that we wouldn’t get past first base. Whatever enterprise you choose to do will have its roadblocks and you will need to troubleshoot a way to get around them. Firstly it is important to come up with an idea and build it up, and then the next step is to work out a general plan for developing the idea into an enterprise. This would mean identifying each of the development stages. From there you think about all the detail and consider the roadblocks for Stage One.

So Jai and I considered his Stage One Plan. The plan was to become registered as an App developer, download the software, then become familiar with the software. Jai’s roadblocks were:

•   The software was not loading correctly onto his computer
•   The software was difficult to understand
•   He didn’t know how to get started with using it

So we planned a simple strategy to deal with these roadblocks.

We were to be in Geraldton for a holiday in a few days. Jai strategy was to pay a visit to our successful App developer friend and ask him to help him get started.

It's exciting to climb to new heights...

That he did, and when I saw Jai next I could see the spring back in his step. He now had new understanding and some direction, plus he had opened a line of communication with an expert, who could possibly become a mentor down the track. Having a mentor is one of the proven best ways to a successful business.

What Jai learnt was that for the software to work properly he needed to download another program onto his Apple computer. So when he arrived back to Burekup, he downloaded the program, which seemed to sort the software issues and it was looking like he was now finally ready to get going with it all.

He headed off to school that Monday, only to arrive home later that day without his computer and looking very frustrated!

Apparently when he went about his online school work, he found that all the school programs that he used were no longer compatible to his computer. He paid a visit to the school’s computer tech, who identified what had caused the problem… Jai downloading this new program! He wasn’t very happy with Jai. He said that the computer would need to be wiped clean and completely reconfigured, then reloaded up with all the school’s programs again. To top it off, he was told that it may take him a few days to get it sorted.

Not good news at all! More roadblocks!

What will Jai's next move be?

What will Jai do next with his enterprising idea? We will revisit his journey as an App Developer in a later blog. It will make interesting reading with some hard lessons learnt!

Next up we will touch base with Kaitlin and see how she is progressing with her enterprising idea.

The Dog Whisperer!

June 9th, 2012

Our kids are becoming Enterprising Children!

In this post we revisit Kit and his enterprising Dog Walking business. He was now ready implement his carefully thought out plan.

It was the school holidays and we were all staying with Kit’s Gran and Grandad in Geraldton.

His first client was a family friend, Pam, who owned a small scruffy dog called Elly. Pam had been prepped with a phone call that Kit would be arriving with his Grandad to ask if she would be interested in hiring his services. She was delighted to support Kit with his new enterprise and awaited their arrival.

Kit with Pam's dog, Elly.

Kit preparing for his walk with Elly.

Kit explained to Pam what his business entailed and the benefits that she and her dog would get if she hired his services. Pam agreed that his service looked to be very good and then she asked what his rate was. Kit said five dollars. Pam negotiated with him and they agreed on four dollars for the half hour walk.

A beautiful afternoon for a walk.

All dogs need a pit stop

Kit was pleased, but not sure how he was going to handle Pam’s little energetic dog. Grandad was an excellent coach and helped him with attaching the lead, offering the dog a treat and instructed on giving commands to the dog.

The walk went very well with no dramas and Kit arrived back at his Gran and Grandad’s house after returning Pam’s dog very keen to tell his family all about his business.

Ending the walk.

Kit being paid for a job well done.

Kit continued his dog walking enterprise for the next two days whilst we were on holidays in Geraldton. He managed to make twelve dollars! Kit is now on his way to attaining his goal.

We, as parents, felt that more important than attaining his goal was the fact that Kit got “started” on his idea. What holds many people back from achieving their dreams is the inability to actually start! And of course, there will always be a myriad of reasons why not to – the time isn’t right, there isn’t enough money, there isn’t enough time, my family won’t approve, not ALL conditions are right yet…..the list goes on. These are the BUTS that stop people attaining their goals all the time, so it was refreshing to see one so young as Kit just “do it!”

Our enterprising children are now all busy with their individual kid’s enterprises. It will be time to check in with Jai and see whether his enterprise plan eventuated.

Until then……….

The Candy Man Entrepreneur!

June 3rd, 2012

Enterprise for Children can be a lot of fun, especially if it involves a four year old and a mountain of lollies! After you read this blog you’ll understand why Hansel and Gretal gave in to temptation to eat the witch’s candy house.

The Candy Man with his $50

... outside the supermarket!

"Let's eat!"

Chayse and I headed off to the supermarket with his $50 just as he had planned. We walked the Candy aisle and Chayse picked out the lollies he thought would be the yummiest. He bought everything from snakes, milk bottles to musks, liquorish and lollipops. Next he added to the shopping trolley 50 plastic sandwich bags and some packets of brightly coloured balloons. His whole investment of $50 was spent in no time. The check out lady asked him if was his birthday! Chayse nodded.

The production line!

Chayse’s brothers and sisters were at the car ready and waiting to escort him into the house and feast their eyes on all his lollies. Chayse was really enjoying all the attention! He bossed his brothers and sisters around as they bugged him for a lolly and offered to carry his bags.

It was all hands on deck. Jaxon and Mitchy from next door came over to help out and a production line was organised around the kitchen table. The lollies and balloons were placed into fifty piles and bagged up.

Chayse’s intention was to sell each bag for $2. So if all goes to plan he should make a 100% on his investment.

The production line team!

Cathy and I helped him with a sturdy box to display his product. We attached a strap to the box to help him hold it up and then made up a sign.

Mitchy and Jackson ran off home and immediately returned with money to buy a bag each. Chayse’s first customers! 98 candy bags to go!

Chayse’s brothers and sisters also wanted to buy a bag each with their pocket money. We had to put a halt to that as it was going to create troubles, especially as Chayse wanted to buy his own lollies too! So the compromise was that they were able to polish off the left over lollies… and of course Chayse was in charge of sharing them out to his drooling family.

Chayse's first customer, Mitchy.

Chayse’s enterprise for children business was now all set to go. His next job is to market and sell his product. We will share that story in a later blog.

Next up we’ll tune in with Kit the Dog Whisperer and see whether his enterprising idea has evolved!

Flynn’s Honey Investment Continued……

June 1st, 2012

You may remember from a previous blog that Flynn’s Enterprise for Kids plan was to buy honey at wholesale and sell at retail. All he needed was a good source of cheap quality honey that he could buy in bulk.

Flynn’s Grandad has kept bees for over twenty years and had a number of hives which he regularly harvested honey from. The honey produced from his bees is very light in colour and tasty as the bees forage over the Mid West fields of Paterson’s Curse and coastal gums. Flynn knew that he had a good quality product.

His plan was to pay a visit and strike up a deal with his Grandad!

Flynn’s Grandad saw that Flynn had thought through his plan. He was more than willing to support Flynn with his new honey enterprise. Flynn negotiated a good price per kg, however, the deal included Flynn having to help his Grandad rob the honey from the hives. Listen to Flynn explaining the deal he has made with his Grandad by clicking this link!

Flynn donning his gear.

Flynn with Grandad

Flynn was up for the challenge! He donned a pair of overalls, gloves, boots and bee veil. Then he and his Grandad disappeared for the morning, returning later in the day with a heavy load of honey supers in the back of the ute. They were carted around to the rear of the house and quickly stacked in the garage. Already the local bees were honing in on the honey, hoping to pinch it for their own hives. The garage door was closed to keep the bees out.

Flynn slotting the honey combs into the honey extractor.

Extracting the honey from the honey combs.

Grandad sliced the caps off the honey combs with a hot special purpose electric knife and Flynn slotted them into a honey extractor. The extractor uses centrifugal force to extract the honey from the combs. It was Flynn’s job to spin the extractor, which proved to be a lot of fun. Although everything nearby became sticky with escaping honey, including Flynn!

Checking the temperature of the honey

Yummy raw honey - a great enterprise venture

Flynn’s brother Jai, and a family friend Jack, stopped by to lend a hand. Many hands made light work and before long, after warming and sieving the honey, it was sealed into 10kg buckets.

Angry bees don’t take too kindly to people robbing their hives. It was pretty amazing that Flynn managed to do all this work without getting stung! His Grandad and Dad weren’t so fortunate though!

Enterprising Flynn paid cash for 80kgs of honey from his Grandad. He loaded it all up in our car to take it back to his home. It was a large investment for a twelve year old and Flynn, knowing its value, took great care to ensure that the honey was well sealed and cushioned for the long trip home. He didn’t want it spilling, nor did he want any ants finding their way into his containers.

Pouring the honey into tubs.

Filling tubs with Grandad

Flynn wanted to sell his honey at retail. He had done his research and found that honey generally sold in shops for around $12 or $13 a kg. He had a unique product. It was tasty, raw and full of enzymes, which are generally destroyed during commercial pasteurization processes.

He had also searched online for plastic honey pots. We discussed with him that people would pay a premium for his product if it looked professionally bottled and not sold in recycled jam jars. New plastic honey pots weren’t cheap! The larger the order, the better the price.

Flynn made his order over the phone and bought five hundred 500ml pots. These were delivered by mail within a few days, arriving in a massive cardboard box.

Flynn ordered honey jars and lids...

....ready to be filled

So now he was all set to go with his enterprise for kids project. He had his honey and honey pots and had spent every cent that he had. It was a huge investment and Flynn had no choice, but to make it work. He had overcome fear and had taken a calculated risk with his business. All he had to do now was bottle, market and sell his honey. … and this will all be revealed in a later blog!

In our next Enterprise for Kids blog we check back with Candy Man Chayse and see how his enterprise has been progressing.

Pulling the Money Bunny Out of the Hat!

May 26th, 2012

Amber contemplating her enterprise.

Amber didn’t waste any time jumping into her New From Old money making enterprise. She bugged me to take her to the Dardanup Tip to see what she could find. So after her Saturday soccer game we paid a visit.

At the tip there is a salvage area where anything that could be recycled is put aside and sold.

Almost immediately Amber spotted an opportunity! She saw a damaged rabbit hutch. We looked over it and could see that it was generally in good structural condition and could easily be repaired. However, it did need a paint job. So Amber went up to the Tip man and struck up a deal. She bought the cage for $10.

Ten Dollars was a real bargain! We looked up the exact same cage sold online in kit form and saw that people were paying $180 for them.

Chayse helping Amber repair the rabbit hutch.

Amber fixing the door latch.

Arriving home there was a buzz of interest as the neighbouring kids headed around to see Amber’s rabbit hutch. They were really curious to see what she was up to. Amber bought a couple of paint brushes for $5, then using some old house paint she found in the shed, she and her friends, Darcy and Lauren, set to work painting. She also employed her brother Flynn and his mate Dan for $2 each to fix the broken part of the cage. They thought that would be awesome! Enterprise for Kids was now becoming infectious in the neighbourhood.

Amber employing Flynn to help her fix her rabbit hutch.

Darcy lends a helping hand.

It was all great fun and in no time at all the cage was ready to be sold. Amber continued her research into what to sell the cage for. She spoke with Darcy’s Mum about cages and also to Nicolette from next door. Both had owned rabbit cages and understood their value. Finally Amber decided that she would ask $90 for the bunny hutch.

Her next job was to put a free advert on the local Buy and Sell Bunbury Facebook page. She put her ad up with a photo and waited for a response.

You wouldn’t believe it! Within ten minutes the cage was sold for the full $90. In fact two other people had their hand up to buy the cage if the first deal fell through. Amber met and thanked the man who came round to pick the cage up and eagerly took the cash payment. She really did pull the money bunny out of the hat!

Now for the picture for Amber's Face Book advert

Amber's finished enterprise idea

All up, an outstanding result! In only a few days, Amber’s profit was $71 after costs. She is well on the way to attaining her goal. With her money jar now looking very full, she was rearing to go for another visit to the tip! She has already begun developing an enterprise mindset around business and money and her financial IQ is growing!

We will let you know how Amber goes with her next “New From Old Project”.

Next up we will pay a visit to Flynn and see how his buzzing honey enterprise is going!