Why Your Kid Should Start a Business, with Hannah and Nevin Buconjic

Hannah Buconjic is a ten-year-old entrepreneur.

With her dad, she published a book about youth entrepreneurship last year.

Their book, “25 Money-Making Ideas for Kids and Teens”, is available on Amazon.

I sat down with Hannah and Nevin to talk about using a small business as a way to teach your kids life skills. But their insights into business apply to every single founder in every market. They were so simple that they were actually profound.

Here were her top tips:

Keep it simple

Do something fun (it’s more fun when you have customers)

Partner, don’t compete

Ask for help

Learn from your mistakes

Be a proud promoter

Location matters

Donate a percentage

Her dad, Nevin, is a business coach and mentor to many local entrepreneurs, and I know you’ll get some valuable reminders from both of them in this episode.

Here’s the summary:

  • Starting and running a lemonade and ice cream stand business.5:06
    • Hannah, ice cream, and other treats at their business.
    • They keep some money, and donate some to various charities.
  • Entrepreneurship for kids, focusing on simple business basics.9:57
    • Hannah describes having money and spending it on random things, while also keeping most of it saved.
    • Nevin emphasizes the importance of identifying business opportunities and seeing needs that can be filled.
    • Nevin emphasizes the importance of keeping business planning simple and straightforward, especially for kids and teens.
    • Nevin suggests that new entrepreneurs often make the mistake of overcomplicating their business ideas, and advises against it.
  • Running a lemonade stand, ideas for businesses, and skills for teenagers.15:45
    • Hannah creates a unique treat stand with a menu and good location, while Nevin has an amazing customer who supports them every summer.
    • Chris Cooper and Nevin discuss ideas for kids to start their own businesses, such as lemonade stands, web design, and social media management.
    • Nevin emphasizes the importance of recognizing and valuing the skills that kids possess, such as video creation and social media management, and how businesses are willing to pay for those skills.
  • Entrepreneurship, starting small, and overcoming shyness.21:23
    • Start small and build up to larger ventures, advises Nevin.
    • Hannah overcame shyness by practicing customer service and realizing their entrepreneurial potential.
  • Entrepreneurship, fun, and asking for help.25:20
    • Ask for help when needed, even if shy, to avoid burnout.
    • “Ask for help don’t be afraid, it’s important for success.”
  • Starting a business as a teen, including tips and advice.29:35
    • Hannah shares their struggles with self-promotion, fearing it comes across as bragging.
    • Nevin emphasizes the importance of being a “proud promoter” of one’s business, even if it feels foreign or awkward.
    • Hannah emphasizes the importance of promoting oneself and one’s business to be successful.
    • Hannah and Chris Cooper discuss the importance of donating a percentage of one’s income to charity, citing self-esteem and helping others as reasons.
    • Hannah shares advice on starting a business, including finding an idea and being persistent.
    • Hannah and Chris Cooper discuss the importance of self-promotion and generosity in business.
  • Entrepreneurship, book writing, and YouTube channel.37:14
    • Parents encourage kids to explore entrepreneurship through creative outlets like writing and YouTube.
    • Hannah creates a YouTube channel called Hannah News Network, featuring news and reviews.
  • Entrepreneurship and summer camps for kids.41:53
    • Hannah shares her passion for YouTube and meeting celebrities with Chris.
    • Lauren and Nevin created their own summer camp after finding none available.
    • They were able to attract 14 kids to their camp

Are your kids learning these lessons about money, generosity, and being useful from school?
Are they learning them from you?
If not, are they learning them at all?

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