There are lots of great reasons to want to start a business: solving a problem, pursuing a passion, even making some money. It takes a lot of dedication and hard work, and even if you do everything right, it may not work out. But that doesn’t necessarily mean you failed — thinking through a business idea can build some really great skills! This week, we talk with a bunch of experts — kids and grown-ups — about turning an idea into a full-blown business. Plus, Jed bakes us some cookies! It’s our last episode of the season… and it’s gonna be yummy.
And now … tips for grown-ups listening to “Million Bazillion” with kids
Take a minute to recap the episode and review the key points. Here are some questions to get the kids going:
- What’s the business that Maya, our 8-year-old guest, started while she was quarantining with her family?
- Who did Maya interview on the episode, and what was the business that person started?
- Jed talked to Jessie Janowitz about starting a business, and she explained that you need to have what’s called a “business plan.” What does a business plan need to include?
- What great business idea did Jed ultimately decide to do?
Thinking about starting a business can be a useful lesson for kids, even if it’s all hypothetical. The process of identifying a need, focusing in on a problem they’re passionate about solving, then thinking through the elements of a business plan are important skills.
Here’s some more great advice and a few resources from our guests and one other famous young entrepreneur:
Thanks for listening to our first season of “Million Bazillion,” we couldn’t do it without you! And hey, we’re not going away — so if there’s something you still want to know, or a story you want to share with us, please get in touch. You can send us a message by clicking here.
Money talks answers
- A nail salon and car wash.
- Patrice Banks. Girls Auto Clinic, run by and for women.
- The idea for your business; your “hook” or why it’s a great idea; and what you need to get it going, from materials to capital (A.K.A.money).
- Making cookie dough.