What's a biz kid?
A biz kid is someone who is about to start or has already started their very own business.
What prompted the term 'biz kid'? A show I saw a couple of years ago while looking after my nephew. He enjoyed ETV morning and afternoon program slots.
At the time, I wasn't aware of the schedule alterations on select days of the week so instead of Raggs, Biz Kids came on. It's an intriguing show with each episode focusing on a money topic. There was an episode that was truly stunning because it highlighted around 2 kids that had their own little business.
One was a young boy who owned a washer and dryer unit in his building and did pretty well with profits. Then there was a little girl that owned a vending machine. Both took out loans to get the equipment as well as had bank accounts into which the funds were deposited.
They even had it worked out where their loans would be paid for, in full, within a few years time. I was like, "WOW." Then they highlighted a young investor that got their start in stock investing from their mom; who worked with stocks.
The show in itself was awe inspiring and was a far cry from the lemonade stands that would surface during the summer months. Speaking of lemonade, do remember that adorable little girl named Suzie from the mobile phone commercial? Well, selling lemonade isn't what it used to be back in the day.
Disappearing Lemonade Stands
They're not really disappearing but it is getting increasingly difficult to set up one. While growing up, it was simple and easy to set up a temporary business selling lemonade, chilly bears and even services like yard care and babysitting. Don't know if this is everywhere but have come across news stories on the topic.
Some time ago, there was a news paper article about some young girls who set up a lemonade stand to make a little money during the summer. Well, an individual turned things into a nightmare for them which resulted in them shutting down their stand. The individual that caused the problems reported them and in turn the authority figures said that in order to run their little lemonade stand, they would need a business license.
That was only the tip of the ice berg. Some time later a young cook had and ran a successful cupcake business from her home with no complaints whatsoever. Then out of the blue, some hubbub was generated and was forced to cease operations.
Every summer and possibly season, there was an opportunity or two for a young kid to generate income with little to no problem. This is starting to change a great deal with an ever increasing number of individuals limiting their efforts. Yes there are ways around these complaints however, the initial complaint is more than enough to deter a young protege from wanting to continue with their venture.
It doesn't have to be this way
Rather than discouraging the little ones who are doing positive things with their free-time, how about encouraging them to continue with their work. I'll be honest with you, I wasn't sure how to approach the encouragement side but got an idea from watching a little commercial and reading up on the subject matter online. Coder Dojo is a phenomenon that started in Ireland where young children were introduced to the world of coding through tutelage from experts in the field.
The same methodology can be applied. You don't necessarily have to be an expert in the field that the child is specializing in, but you can be a mentor of sorts by providing a safe haven for them to work. Be it a professional kitchen for the up and coming cooks, a studio for aspiring artists, a housing ground for service machines (like the aforementioned vending machine) or what have you.
A lot of good can and will come from this practice as noted from some success stories mentioned on the show Biz Kids along with some articles researching Coder Dojo. More and more young people are starting to engage in entrepreneurism which, to me, is outstanding. This is a far cry from roaming the streets endlessly looking for something to do or get into.
So grant them, and everyone around, courtesy by embracing their ambitious ideas. It's not what you say but how you say it. Till next time, keep busy.
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Biz Kid Highlight: Hayley Hoverter
Hayley Hoverter was one of the kids during an episode I watched that really caught my attention. She has been very forward thinking since a young age. Probably considered ahead of her time, she devised a way to cut down the amount of waste generated at coffee shops.
Have you ever looked down at the waste basket while getting coffee be it at a bistro, shop or even the break room at work? How much of the contents were sweetner packets? Some didn't take note but young Hoverter did.
In the episode, she mentioned her source of inspiration: candy. The candy in question is an Asian variety from Japan that features a fruit flavored confection wrapped in edible rice paper. From this, she generated an idea for sweetner/sugar to be packaged in rice paper.
She explains the concept in an idea pitch video, showcased below, about how her product works. At the end of the video, you will find a link to a presentation showcased at NFTE Global* 2011 where she pitches her idea to a live audience.
*NFTE: Network for Teaching Entrepreneurship
Included new video featuring Miss Hayley Hoverter presenting her product at NFTE Global 2011.
Hayley Hoverter's pitch for her innovated product called Sweet disSOLVE at the NTFE conference, 2011.
Biz Kid Highlight: Chase Reed
After putting away papers and straightening up the classroom, I make my way home for some R&R. One of my routines include watching CNBC. While tuning in, there was mention of a young entrepreneur who turned his passion for sneakers into a profitable business.
Since an even younger age, Chase Reed loved to collect sneakers. His expansive collection lead to the idea of starting his very own business. Sneaker Pawn is a first of its kind where you can go to sell and or buy sneakers.
I was just blown away when he was introduced and started talking with the panel. They asked questions and he answered them. Yes he was shy but he held his own quite well.
The video below highlights his passion for shoes along with how he came up with the funds to get the business up off the ground.
CBS New York - News report highlighting the upcoming businessman, Chase Reed. Video provides overview of how he and his dad go about buying and selling sneakers.