Should I Encourage My Kids to Be Entrepreneurs or Get Good Grades?

Should I Encourage My Kids to Be Entrepreneurs or Get Good Grades?

 

I was talking with my friend Susan from New South Wales, and she asked, “Matt, I have young kids, should I teach them to be entrepreneurs or to go to school and get very good grades?”

This is a very good question, and it’s ironic Susan is from South Wales, because right now I’m in the small town of Life Valley, Australia, where I actually grew up. The town has a population of only about 15 people, and the nearest city is about 30 minutes away.

Right now I’m standing at the end of the driveway of my old house—in the spot we got picked up by the school bus every morning.

This Is Where I Started My First Business

Right here on the side of the road, next to this mailbox, is where I started my first business called ‘Spuds 4 Sale’…

When we were growing up, my mom and dad were farmers, so my brother and I got the idea to sell potatoes to random cars that would drive by. And even though we only saw a car drive by every 10 minutes, we still sold a few.

At the time I was 10 years old and my brother was 12. Every morning, we would put potatoes in little freezer bags, and then we’d store them in the mailbox. We found a piece of tin and spray painted it, Spuds 4 Sale. My mother was really supportive, and she encouraged us on our first venture.

But anyway, this is where we started our first business, and I still remember as a 10 year old—making my very first sale.

The Day I Got My First Sale

One day I was standing at my ‘potato stand,’ and an elderly couple pulled up into the driveway. My brother had gone home to get some more potatoes, so it was just me at 10 years old standing there next to the mailbox.

They asked, “How much are your potatoes?” And I still remember saying, “$2.” I was a little bit nervous to say that, because we were selling them for $1, and I was trying to get more money out of them.

But then I was shocked when they actually bought two bags. They gave me $5—$2 extra profit, plus a $1 tip.

I remember I was so excited when I made my first sale. I met my brother about halfway down the driveway yelled, “Hey, we just got our very first sale!”

At 10 years old, I got my first experience selling something to a stranger, and I never forgot that amazing feeling.

It was such a great feeling of being able to almost manifest extra-money with no extra-time. And I think that experience was very critical in my development as an entrepreneur.

Over the next few years I would start many other businesses—I had all these little crazy ideas growing up …

For example, I also started a marron farm—kind of like small lobsters. I tried to breed marron and sell them. I also had another business selling kangaroo furs for a little while. And another business I got in to was selling quails from our farm to a pet store …

How Much Money Did I Make?

Out of all these little business ideas, I don’t think I ever really made much money with them. The potato store only made us about $15. Then I had a fight with my sister and she tore up all the potato plants. So that was the end of that business.

But here’s the point—taking chances with these crazy ideas growing up was extremely critical in me becoming an entrepreneur.

So, to answer your question …

YES, if you have kids right now, one of the greatest gifts you could ever give them is to encourage them to be entrepreneurs.

Encourage them to start a lemonade stand, encourage them to sell. Teach them that selling is not bad, and it’s actually a very good thing.

Just think back to when you were a child—the possibilities for what you could do were endless. And now it’s even better for you’re kids because of how far we’ve come with technology.

When I was young, I had all these crazy ideas for a business, and now that I’m looking back, I’m so glad my parents always encouraged it—and never discouraged me about it.

As I grew older, it really just felt natural that I would become a business owner and an entrepreneur.

So yes, I would absolutely encourage entrepreneurship from a young age. I think it’s one of the greatest gifts you can give your kids.

And you can also give yourself an amazing gift as well, because if you want to cut your learning curve even faster, I’m about to reveal my secret system for success …

In February of 2010, after several years of struggle, I heard about a small group of people who had discovered a unique way to make money online.

I tried their method and quickly made $15,200 CASH!

Best of all—this money came from ONE transaction.

My entire life was transformed at that moment! Because now I could for one week and take the rest of the month off. You can learn this unique way to make money online too.

Talk to you soon,

Matt Lloyd

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