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Summer jobs for kids: Start a Business

June 18th, 2011 2 comments

Are your kids bored? Is it difficult for your kids to get a job in today’s economy?

Think outside the box, have them start a business. Think work, not job.

There is nothing like teaching kids about the value of money, taking responsibility, and serving others with their ideas that have been converted into products and services.

Here are some suggestions.

This is a start, so see if your kids can make some money and learn about life.

If you don’t  believe it can be done, just take a look at BusinessInsider’s These 10 Pre-Teen Entrepreneurs Make Millions More Than Their Parents. They make more than their parents, but their parents supported them.

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Has higher education lost its luster?

May 18th, 2011 No comments

I got a Masters degree back in 1994 because “it was the thing to do” and that’s what large corporations were looking for, “educational credentials,” to see if you were “qualified” for the job in this critical area. However, what is happening in reality?

Education tuition at schools are costly, my own CU Boulder in state tuition costs around $2,000-$7,000 per semester just for tuition and fees (graduate school costs around the same). That’s around $28,000 full time for a two year program “Associate” degree and $56,000 for a Bachelor’s degree. And if you get a Masters, add another $28,000 to your debt.

Read this article, Faulty Towers: The Crises in Higher Education at The Nation.com and see what you think.

But when I wrote to arrange the introduction [for a potential graduate student with a professor], he refused to even meet with her. “I won’t talk to students about graduate school anymore,” he explained. “Going to grad school’s a suicide mission.”

Could you take the same money ($28k, $56k, or even $84k) and time and start your own business? I’ve read that others have started a business for under $1,000. You could take that amount of money and live off of it and work all the hours you want to get it started. Parents, have you thought of this idea? Instead of college, starting a business?

Even when I attended graduate school in the 1990s the same issue was applicable then as it is now: Academia is all about theory, not about the practical application. How does one apply the theory in the real world?

For my money today, it’s better just to start your own business and calculate the “costs” of failure as your “grades.”

Besides, both Bill Gates and Steve Jobs never finished college and look where they are. But then again, they get invited to colleges to talk about their successes to students that are there to learn.

Update 5/23/2011: Read this article I Want a Refund! Grads Who Would Return Their Degree by the TheFiscalTimes.com. Yes, grads would return their degree for a refund.

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T. Harv Eker’s Millionaire Mind Intensive

March 7th, 2011 No comments
T. Harv Eker speaks at a Millionaire Mind Inte...

Image via Wikipedia

Have you ever had wondered how others become financially free, rich, or even wealthy? Well, the start of anything begins with you and how you view money. Both my wife and I attended T. Harv Eker’s Millionaire Mind Intensive, a three day conference which outlines why others are successful and others are not. Bottom line: It was life changing!

If you’re open to learn how to become more successful, attend the Millionaire Mind Intensive to register for the course.

You’ll be glad you did. Both my wife and I are glad we did.

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Education quote

February 23rd, 2011 No comments

‎”Innovators and creative geniuses cannot be reared in schools. They are precisely the men who defy what the school has taught them.” – Ludwig von Mises

Read what Scott Adams, of Dilbert fame, wrote about education.

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Thanksgiving: The real story of the Pilgrims and our national holiday

November 25th, 2010 No comments

As startup entrepreneurs we need to take a day of rest to be thankful and grateful to have what we have, but did you know that the Pilgrims and their business investors actually caused the Pilgrims suffering, mostly it was the Pilgrim’s issue? What was the reason for their thanksgiving and what was the cause?

Pilgrims Life and Thanksgiving. The Pilgrims landed in November 1620 with 101 people (about half died within months) and in 1621 had their first thanksgiving. While thanks were given as was the custom for these religious people, it was not a very successful year of food production. They were trained by the Indians how to grow food, albeit needing some time to get proficient at it. They were given land to grow the food on. They had houses to live in and clothes on their back sufficient to do the work. So why did they have to ration out their food and scrounge for more?

Because their first efforts at food production were defined as one of communal living, mostly called today as the redistribution of wealth. In this case wealth is being defined as the rewards of ones total efforts and talents applied to a particular task or endeavor. All of the Pilgrim’s production was one where the results were put into a storehouse for “the common good” and portioned out as was needed by each individual and family. However, this resulted in a bunch of “freeloaders” that would not or by way of trickery did not want to work and the Governor

found them in the streete at play, openly; some pitching the barr and some at stoole-ball, and shuch like sports. So he went to them, and tooke away their [play] implements, and tould them that was against his consciente, that they should play and others worke. Source: William Brandford, 173

Because of the communal aspects of their results, many did not want to work and some resorted to stealing from the storehouse, from the Indians, and from each other and in some cases rationing had to be instituted to keep them alive. However, a decision was made:

And so assigned to every family a parcell of land, according to the proportion of their number for that end, only for present use (but made no devission for inheritance), and ranged all boys and youth under some familie. This had very good success; for it made all hands very industrious, so as much more torne was planted then other waise would have bene by any means the Govr or any other could use, and saved him a great deall of trouble, and gave farr better contente. The women now wente willingly into the feild, and tooke their litle-ons with them to set torne, which before would aledg weaknes, and inabilitie; whom to have compelled would have bene thought great tiranie and oppression. William Brandford, 216

Now notice this key ingredient: communal or collectivist living is the taking of your wealth, via community acts and redistributing it among others. That’s far different than one deciding to give your wealth to others by your own volition or choice to whom you decide to give it to. It was when the Pilgrims switched from this communal living to private property, owning your own wealth, and then “taxes” being imposed that improvements were made in their overall economic situation, i.e. producing enough food to live and to make a living. Source: Pilgrims switching from communal living to private property. A historical primary source is William Bradford, the second governor of the Pilgrims, and his history writings, Of Plymouth Plantation.

In 1622 that’s when the real Thanksgiving bountiful harvest was recognized.

President George Washington’s Thanksgiving Proclamation. As President, on October 3, 1789, George Washington made the following proclamation and created the first Thanksgiving Day designated by the national government of the United States of America:

Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor, and whereas both Houses of Congress have by their joint Committee requested me “to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.

Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be. That we may then all unite in rendering unto him our sincere and humble thanks, for his kind care and protection of the People of this Country previous to their becoming a Nation, for the signal and manifold mercies, and the favorable interpositions of his providence, which we experienced in the course and conclusion of the late war, for the great degree of tranquility, union, and plenty, which we have since enjoyed, for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted, for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.

And also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions, to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually, to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed, to protect and guide all Sovereigns and Nations (especially such as have shown kindness unto us) and to bless them with good government, peace, and concord. To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and Us, and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.

Given under my hand at the City of New York the third day of October in the year of our Lord 1789.

National Thanksgiving Celebrations. Who set aside this day of Thanksgiving? President Lincoln. He was the first president to announce and set aside a national day of thanksgiving for everyone in America, here is his Proclamation of Thanksgiving.

So, our Thanksgiving should be not only for the food and blessings we have received, but also the lessons learned as to how to keep the food and blessings flowing.

From the Jewish and Christian Bible: ”Enter His gates with thanksgiving, and His courts with praise. Give thanks to Him and praise His name. For the LORD is good and His love endures forever; His faithfulness continues through all generations.” (Psalm 100:4-5)

Sources:

WikiPedia link about Thanksgiving.

First recorded histories of thanksgiving.

The 3+2 Rs of school and education: Readin’, ritin’, ‘rithmetic, and …

November 5th, 2010 No comments

When you’re a kid, you go to school to learn the basics, the three R’s, reading, writing, and ‘rithmetic. But what is just as important in these three is adding two more Rs: Responsibility and Revenue. What do I mean? Let’s discuss this.

Responsibility. In this case, it means that kids should be taught taking responsibility:

  • for themselves first,
  • then for others second, which includes both determining the proper role of business and their local, state, and federal government in a society and the role of each individual’s involvement in the process to ensure a civil society.

I have used this illustration many times before, but it bears repeating:

Individual responsibility means taking care of yourself first, then helping others.

Just like you hear when flying in an airline that if the aircraft’s cabin depressurizes that you are to put on the oxygen mask on yourself first, then help others, so goes with being here on the ground, helping ourselves first and then others in our society.

Revenue. For this term I mean how to handle money in general, but with first staring with knowing how to handle:

  • personal finances,
  • how working for others affects money,
  • having their own business to earn their own money,
  • and lastly how the government and taxes affect each of the above perspectives of money.

This last part, revenue, is the last part that needs the most attention in our schools. Since parents may not be telling kids about finance, schools need to integrate that into the curriculum.

Kids Survey. According to the Kauffman Foundation‘s “Fact Sheet on 2007 Youth Interest in Entrepreneurship Survey,” those who want to have their own business say their top reasons are:

  1. to use their skills and abilities (92 percent),
  2. build something for their future (89 percent),
  3. be their own boss (87 percent),
  4. see their ideas realized (81 percent)
  5. and earn lots of money (85 percent).

Here are some links to further

The Daily Infographic “Who are the Entrepreneurs?” gives some insights into who the entrepreneurs are.

What information and sites do you recommend?

4 Laws of Business and iCal: Law of Activity, Action, Averages, and All

November 3rd, 2010 No comments

When it comes to being an entrepreneur and doing the startup thing nearly everyone needs a computer, in my case I use a Mac. Although, for the record, I’ve used Windows and Linux in my day I much prefer a Mac. What does it mean to use a Mac? First, let’s get down to business.

There are three Laws that are out there in the business world. They are and they go in a specific order:

  1. Law of Activity – doing something
  2. Law of Action – doing something toward a goal
  3. Law of Averages – doing something and measuring and making improvements toward a goal
  4. Law of All – doing all three above.

Law of Activity. The Law of Activity means that you are doing something, but it may not be necessarily toward anything in particular. This may mean that you are shuffling papers on your desk, addicted to watching what happens to your friends on Facebook, or just wasting away your time with meaningless or purposeless activities.

This does NOT mean that you are not taking a break after all of the hard work you have done and taking a breather to stop and see where you’re going, but it means that your activities have little to no focus other than it just is. This law also may mean doing something such as sky diving or skin diving having never done it before, just to see what doing it is like for you. There is no right or wrong answer here in some cases, in others, shuffling papers when you have a job to do, does. It’s a matter of priority.

Law of Action. The Law of Action means you are doing something with a definite purpose, moving toward a goal, such as getting more sales, more customers, or more channels to sell through. Doing something which furthers your business or life.

Law of Averages. The Law of Averages mean you have taken the Law of Action and begin doing something with a definite purpose and are measuring your actions against your goals to see if you are making progress. This applies similar to baseball. Getting a base hit is one thing, but getting a home run is another. If you don’t measure how you’re hitting you don’t know if you’re improving or not. Same goes with your business. The bottom line in any business is profit, which is sales – expenses (and a bunch of other things, but I’m being simple here). The Law of Averages is your trend in how you are doing, going up or going down.

Law of All. The Law of All is doing something with your life, not just your business. Apply the idea to both your life and your business. Doing something different than what you have never done before may turn up new customers and markets for your business, it can also spice up your life and give you a renewed outlook on your business. The Law of All is not about Doing it ALL, but about doing enough that keeps you going and challenges you to new levels of life.

The Laws and iCal. So, what does all of those laws have to do with iCal? It means scheduling your life using iCal so that you have a life. Schedule your activities that are new and fun, schedule actions to work toward a goal in business and in your life, and measure your business so that you can track your improvements to make more than a living at what you love to do.

The key is not to prioritize what’s on your schedule, but to schedule your priorities. Stephen Covey

You only have 24 hours in a day and 365 days a year, schedule what’s important so that you don’t lose sight of why you’re in business. Use iCal’s calendar function to see how you can schedule your life and your business.

Can you come up with anything else?

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