Six Ways to Raise and Nurture a Young Entrepreneur: A Guest Post

 

By John Hope Bryant

Children are natural-born entrepreneurs. When they're toddlers, they make homemade mud pies and "sell" them to Mom or Dad. As they get older, they start to understand that adults will pay them small amounts of real money in exchange for goods or services, such as a cup of iced lemonade or walking their dog after school.  
 

In 2013, Operation HOPE launched a pilot program in four cities -- Atlanta, Denver, L.A., and Oakland -- to help schoolchildren in underprivileged communities learn the basics of financial literacy and entrepreneurship. In a competition, kids pitch their entrepreneurial ideas to a committee of business leaders, and the winners are given a $500 grant and help in launching their startup businesses.

 

As a result of this "Shark Tank for Kids," Princess, a 6th grader from Oakland, created Sweet Tooth Bakery, which sells homemade cakes and cookies to local shops. Froylan, a senior at Montbello High School in Denver, got funding for Froy's PCs, a computer repair business he runs out of his home. 

 

Their stories, and many others like them, show that kids, when given the education, opportunity, and guidance, can be entrepreneurial successes.

 

Since many schools don't teach financial literacy courses or offer similar opportunities, here are some ways parents can teach kids about money, financial responsibility, and entrepreneurship.

 

Show them how money grows. 

Show your kids why investing in two shares of Nike stock will benefit them more than buying one pair of Nike Air Zoom Flight basketball sneakers. Both cost around $160, but only one of those choices will be worth anything five years from now.

 

Support their natural entrepreneurship. 

A hot dog stand at the school football game, a car-care service, or a lawn mowing job teaches so much more than spending allowance money. When kids start small enterprises, they learn about earning, saving, budgeting, and so much more.
 

Teach them how credit works. 

Kids need to know about credit because it helps them understand how to plan for large purchases responsibly. A kid with little or no money can acquire something she or he really wants. For example, it might involve borrowing money from a parent and then paying off the loan each week with chores after school. 

 

Help them make a budget. 

Teaching kids how to budget gives them a realistic notion of the relationship between work and money, and how budgeting relates so many everyday outcomes, such as having enough for food; school supplies; clothes and shoes; birthday presents;  sports, music, and entertainment; tech toys and devices; and other important parts of kids' lifestyles.

 

Teach them to think big. 

In the most recent Gallup-HOPE Index, more than 87% of youth surveyed believed there was a correlation between how much education they completed and the amount of money they could be expected to earn. Help kids see that the harder they work at doing well in school, the more income and opportunities they'll have later on. 

 

Give them financial dignity. 

Kids who grow up in households where parents live under the constant threat of having their car repossessed or their utilities turned off intuitively see the relationship between finances and dignity. No one should have to make a choice between buying food and paying the rent. Help them understand that check-cashing joints or pawn shops take advantage of people who don't or can't belong to traditional banks or neighborhood credit unions. Help them start a youth savings account, where they sock away $5 a month.

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John Hope Bryant (www.johnhopebryant.com) is founder, chairman, and CEO of Operation HOPE, a nonprofit banker for the working poor and struggling middle class, which provides financial literacy for youth, financial capability for communities, and financial dignity for all. His bestselling book, How the Poor Can Save Capitalism: Rebuilding the Path to the Middle Class (Berrett-Koehler, 2014) builds a compelling economic argument for investing in America's least wealthy consumers--and presents practical, positive solutions, with case examples of individuals and companies doing it successfully.

Guest Post by Karen Smith

Inherited Habits: 

Know When to Honor Thy Father and Mother 

by Karen Smith

We all derive some of our personality from our parents, and some of it from rebelling against them. It’s a healthy, dialectical process: we get to choose which of their beliefs, inclinations, and habits are beneficial to us, and which we can improve on.

Personally, I was raised by a wonderful mother who also happened to be a librarian by trade. Although you would think that this vocation might imply an orderly, organized nature, that part of the job description was not as evident in her own personal life as was the compulsion to hoard.

Admirable enough in the context of a library, where it can be put to use preserving mankind’s knowledge for posterity, this retentive, pack-rat quality made for an unbelievably cluttered house. Kitchenware and other goods, however obsolete or redundant, were never, ever thrown away. Surely, someone will want those someday! Newspapers (remember those?) and magazines were piled and clipped and shredded, and piled again, on any available surface. My sister and I would sometimes joke that our living room looked like a gerbil cage.

My father had the same tendency, though his was mostly confined to the realm of gadgetry and electronics. Boxes of wires that once belonged to God-knows-what. Defunct computers. A whole slew of long-obsolete MiniDisc players, which he had bought in multiples, not because they’d be worth something someday (at least he wasn’t that delusional) but just so he’d never have to buy another one, even if he could find someone still selling them.

Dad also had some bad habits when it came to work. A government attorney, he often found himself working long into the night, due less to any overly onerous caseload than to his own procrastinating ways. He would schmooze and dawdle and not get nearly enough done at work, to the point that it ate into his personal and family life, thus affecting us all.

Unfortunately, as a writer, I find myself replicating this behavior pattern frighteningly faithfully. I’m not in analysis or anything (though maybe I should be!), but I frequently find myself thinking, D’oh! I’m doing exactly what I used to judge Dad for. It’s something I have to actively struggle against.

The hoarding compulsions less so: now don’t get me wrong, I’m no Spartan, but I don’t like clutter. I relish the feeling of control that comes with a well-organized and streamlined household, though without ever being totally anal about it. In other words, I think I’ve found the balance they never did between keeping a sterile and uptight “museum house” and being a complete slob with cars up on cinder blocks in the front yard.

If only I could find that same balance with the productivity issue. Some parental curses are hard to break, as mythology soberly notes. In Christianity we trace this “original sin” all the way back to Adam. But whether you’re religious or not, it’s hard to avoid recognizing that the sins of the father often truly are visited on the son, whether by genetics or environment. We do each have the choice, however -- and the ability -- to be a little bit better than the last generation. We would want the same for our own children. Right?

So think about it: which of your habits constitute a helpful inheritance from your parents? On the other hand, can you recognize places where these ingrained ways of living might be holding you back? Mom and Dad formed you, but it’s your life to live.

BIO: Karen Smith is a versatile freelance writer who often writes for onlinebusinessdegree.org. While her writing focus is trends in small business, she also enjoys writing about the challenges of parenting, continuing education, health, and more. Karen welcomes comments below!

Part II: Interview with Alan Sitomer, award-winning author of NERD GIRLS

Today I am delighted to continue our Write On! interview with award-winning author and California 2007 Teacher of the Year Alan Sitomer. His latest book, Nerd Girls, is available on Amazon here. 

Besides being an author, you are an award-winning teacher. How does teaching influence your writing and the creation of your material?

I show all of my books to real kids first. My students, former students, fans I have gotten to know from around the country, they all get to check out my books hot off the press before anyone else gets a chance to see them. That means before my literary agent. That means before my editor. That means before anyone in the adult world who works in “the publishing industry.” Real kids are my readers and if they don’t like something – if they don’t laugh, if they don’t cry, if they don’t approve – then it doesn’t really matter what the adults think.

Kids are my best, and toughest audience. If my books flies with them, then I know I am good and I’ll go ahead and take it to the next level and begin to show it to the people in the publishing industry. But if I do not get their seal of approval, I stop, listen to their feedback and go back into the piece to go make it work. It’s probably why my fans are so loyal; they know that I respect them and I listen to them and I like them.

Kids who read my books can know that other kids have read them first and given the “Thumbs Up!” sign. I really think that is an important element to my work.

You often talk about “puttin’ the fun” in reading, writing and school. Why?

Let’s be honest: sometimes school can get SO BORING! And there’s no reason for it. But still, grumpy adults sometimes send the message to kids that life is to be serious, serious, serious and humorless, humorless, humorless.

To them I say BLAAAAHHH!

Students are at their best when they are enjoying what they are doing. Students will read more books when they like what they are reading. Students will learn more about a subject when they like what they are learning. Students will try harder to do a good job on the work they are being asked to do if they like the work that they are doing.

That’s my belief and I am sticking with it. (Besides, I was named California Teacher of the Year so ya might think I know just a wee little bit about this stuff, huh?)

Of course, there is a time to be serious. But being serious does not mean that you can’t enjoy yourself. Of course kids have to realize that there are some things in life you just have to do - and do well - even if they are not “fun.” I get that. It’s called reality and the bigger point of school is not to be entertaining. But for the most part I’ve found it’s actually quite satisfying to work really, really hard on something that challenges you deeply. Finding the joy in the challenge is what brings out the best in us.

However, sad to say, it seems as if some schools have forgotten this. Not all – and if you have a teacher that tries hard to make learning fun and meaningful and exciting and interesting – consider yourself lucky. Why? Because I’d venture to say that teachers like this eventually end up teaching you a great deal. School is not a comedy club, but it’s not a funeral home, either, and I believe that a classroom without laughter is a classroom that is not operating at its highest possible potential. Before kids are students, they are people and people need to laugh much like they need to eat and breathe and love.

Just to be clear, I believe that working hard is important. In my classroom, I have little patience for goof-offs but I have a lotta love for kids who put good ol’ fashioned positive energy into their efforts. My belief is that you are not enjoying the work, you probably aren’t going to learn as much as you would if you were enjoying the work. Plus, you are much more likely to try harder when you care about and enjoy what you are doing. Making reading enjoyable and making writing enjoyable makes better readers and writers.

Fun is my secret sauce. It works!

What else can we expect from Nerds Girls beyond this first book?

There is all kinds of crazy, fun stuff right now. I’ve built a game. I’ve created some author videos. There’s a Nerd Girls comic.

All free for anyone who wants them.

Of course, there’s already Hollywood talk of a movie and a TV show and clothes and merchandise and blah, blah, blah. (www.TheNerdGirlsWorld.com is the home base for information about all of this stuff.)

But for me, it’s all about the core material right now. Nerd Girls Book II is on its way and beyond that there are a few more surprises in the works.

All in all, I guess it’s just about making sure to have fun, work hard and continue enjoying all the great kids I get to meet who have become fans of my writing. Of course, the teachers and the librarians are great, too, but it’s all about the kids. Their approval means the most to me.

And really, how ridiculously lucky am I to have it? As I tell folks all the time, it’s quite healthy to channel your inner nerd. That’s all I am doing right now. It’s good for the soul.

If you missed Part I of my interview with Alan, check it out here.

Links:

• Alan's official website: www.AlanSitomer.com
• Nerd Girls books: www.TheNerdGirlsWorld.com

How to Convince Your Parents That Your "Worthless" Major is Worth Something

Guest Post by Tim Handorf

When I was an undergraduate, I knew from the very beginning I wanted to study English. Most of my friends were tepid in their own choices, and changed majors several times before settling with subjects like Economics or Psychology. Others wanted to study something else but were influenced by their parents to study a major that would provide more immediate material gains.

When I told my parents my intentions to study English, my father deadpanned, "That's all?" I asked him what he meant by that, and he responded, "Why not minor in English and study something else more useful, like Business?" I was taken aback. I didn't know how, exactly, to respond to his question.

Of course, in a way, he was absolutely right. Studying literature or creative writing for its own sake doesn't result in obvious job prospects. Eventually, however, I formed a coherent enough argument favoring my choice of study, that even my parents -- a very traditional bunch -- eventually supported me wholeheartedly.

One thing to remember when you decide to throw your lot in with literature or writing is that chances are, you won't become a world-famous novelist. At the same time, however, no one goes or should go into a university literature or writing program with the idea that pursuing fame and fortune is our natural next step.

We do it because we do care about the written word. We understand that taking in the world and its details and expressing it clearly, thoughtfully, even creatively, using our own signature mark, is meaningful, even if we don't eventually do it to earn our daily bread. That is not to say that we cannot always dream. And the carefully study of letters is a necessary first step in finding our own voice. We cannot, after all, pen something extraordinary without knowing what has come before.

To counter the old folks' assumptions that paying a lot of money for a college degree only to end up as a starving artist is quite easy. What I did was throw at them some of the latest research. Parents love research. For example, take Daniel H. Pink's book A Whole New Mind: Why Right-Brainers Will Rule the Future. Pink, a former speechwriter for Al Gore, who now writes for several leading publications analyzing future trends in business and technology, argues that we are now moving beyond the Information Age to the Conceptual Age. By this he means that those who have developed the capacities for empathy, creativity, and are able to take information and discern some meaning from it will be most successful. And are these tasks not exactly what a degree in English or Creative Writing prepares us for?

So if your parents, friends, or even you yourself are struggling to figure out the purpose behind a course of study in literature, rest assured that you will have a host of opportunities, even if you don't end up writing fiction or poetry for a living. If you can synthesize information, if you can communicate it clearly and inventively, then the future is yours.

By-line: This guest post is contributed by Tim Handorf, who writes on the topics of online colleges and universities. He welcomes your comments at his email: tim.handorf.20@googlemail.com.

Bedtime Stories Tradition

A "bedtime story streak" is a wonderful challenge to take on with your children. Watch this video from DarynKagan.com and prepare to feel inspired!

Calfornia Learning Strategies Center

Write On! supporter Susan Goodkin has created an amazing online resource for parents: the California Learning Strategies Center. My article "Parents are Key to Nurturing Writers" is part of the "resources" page.

Check it out here: http://www.learningstrategiescenter.com/resources.html#a.