Today’s fantastic family finance article is:
Here’s young Mo’s entrepreneurship journey in a nutshell:
- Learns to sew bow ties at age 9 from octogenarian grandma, a retired seamstress.
- Launches “Mo’s Bows” selling $5 hand-sewn bow ties to summer camp-mates.
- Grows business on Etsy.
- Appears on Shark Tank at age 12. Doesn’t get deal, but gets free mentorship from Shark Daymond John.
- Expands into Neiman Marcus.
- Meets President, and receives Dreamer’s Award from National Retail Federation.
- Grows business to 6 employees and estimated $350,000 in annual revenue at age 14.
Next stop? Skinny neckties!
Check out the full story with your kid here. Mo’s glowing grin might just spur your budding kidpreneur to launch a venture too.
Whether your kid’s first foray into business thrives like Mo’s or withers like 99.99% of the rest, remember what SharkTank’s Daymond John says: “If I’ve learned one thing in this life it’s this: even if you lose, don’t lose the lesson.”
Regardless of outcome, your job as a parent is to make sure the experience is a net gain.