Short excerpt from a YouTube video ("Forget allowance—teach your kids to HUSTLE.") in which two speakers discuss teaching children entrepreneurial skills rather than giving an allowance. Speaker A describes real examples: a son who ran a movie business, a daughter who ran an art business, and an 8-year-old (Tristan) who sold teeth-whitening services at events, working as a sales rep for adults for a 50% commission until she reached a $100 goal and then stopped to spend the money as she wished.
Chapters
So the other part of that, never pay your kids an allowance, is just to start what I call 21st century little lemonade stands. My son had a movie business. My daughter had a little art business. And they would go to the events and they'd participate just like all the other adults. And they would sell. If they didn't have something to sell. They'd walk around, they find an adult has something to sell, and they said, I'll be your sales rep for 50%. Because that's what I told you.
I love that. That's so good.
This one lady had this teeth whitening, and so Tristan always loved this that. She's like, well, everybody needs that in the room. Cause they all drink coffee and wine. And so she's like 8 years old. So she'd run around still teak whitening. And she'd have a goal of making a hundred bucks because she wants to the gift shop and buy a bunch of candy or whatever she wanted to buy. Because she knows coming to mom's not going to really work out, right?
Yeah.
She would find somebody in the room and she'd only work for, like, until she got her goal. And then she'd hand back all the product and say, I'm done selling for you now and giving my 50%. And then she'd go shopping or. Or do whatever she wants with the money.
