
Help the kids! They need good online money-making opportunities.?
My super independent kids, duplicating my super independency, decided to quit formal schooling system and have started build a nework of home schools for themself and other kids.
Now, they come up with an idia to try making money online. Anybody already doing thislease, help leveraging 400 kids on my kids’ home school network — of which the members are gradually increasing.
They’re now searching for an online money-making opportunities to try by trial and error. And, I personally have no clue to give them advice on this.
Normally, I love to see kids try out anything by trial and error. But, to dig for real things out of cyber space, you know it, a big waste of time, energy, and mentality. They’re just in the beginning of learning to trust, to be trust, love, to beloved, and building group confidence.
Wow. My kid just works for a local business person and sells tons of popcorn to pay for his Scout year, but he is probably younger than your kids. He makes more money doing this than most 10yo’s, but he’s learning to spend it wisely and budget through the year.
That’s awesome that they want to do an entrepeneurial project; I have no idea what to tell them either. Honestly, if my son came to me with that, I would assign it to him as a long-term research project. I would have them pick 5-10 fairly successful online independent businesses (not necessarily Amazon or anything, but not flops either) and complete an analysis on them – who are they, how did they start, what research was performed before launching, what sort of capital and supplies did/do they need, what is their infrastructure (at start up and now), and what have their business trends and major decisions been through the years. I would even allow him to contact those businesses to interview someone fairly high up, either in person, by phone, or by email.
I honestly wouldn’t let my son launch anything online without performing such an analysis, any more than I’d let him try out for a major league baseball team with no more than Little League under his belt. There are too many details and legalities that they need to be aware of, and trial and error can be a nasty way to learn them.
Once his analysis phase was complete (I’d probably give him the semester to do this), if he was still interested I’d go ahead and let him plan out his own business. I’d ask for the same things he’d have to prepare to take out a loan – business plan, presentation clearly thought out, etc. I would require that he research this process, clearly think through his ideas and plans, and come to me with a nearly fully formed idea. If he’s still excited about it after this phase, then yes, I’d let him launch it. My husband and I would be the adult presence in the matter, but it would be his baby.
I really would recommend not letting them try anything like that through trial and error though…in the very least, it stands to flop, and at most, it can get you and them into legal or financial trouble. However, if they do their analysis, research, and planning, involve you where you need to be involved, and still want to do it after that time and effort has passed, then I say let them do it. However far they go with it, what they learn will serve them very well in life, in many facets of their lives.
Hope that helps!
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