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A person holding up a cell phone in front of a billboard in times square.

The Biz Kid Advantage to Influence Marketing

The term influencer has become a buzzy term. Kids long to be one, parents roll their eyes at the concept, and even children’s book publishers are scrambling to find a place for the new category of celebrity.

Even Saturday Night Live parodied the concept just last weekend, showing the actress Lori Laughlin in prison as she explained to her fellow inmates her crime: bribing USC into accepting her daughter without merit. “She’s an influencer on Instagram,” the mom explained.

At this point, we’re all too familiar with the pitfalls of social media: at its most innocent, distraction. At its worst, manipulation and hate. But at its best, social media can be a positive force for social change. And in business, it can be the difference between flat sales and fabulous sales.

Ben Francis was just 16 when he began building websites. But when he became a gym rat at 18, he saw a market need for better workout clothes. Two years later, he started sewing and screen printing his own. To market them, he took to social media. The savvy teen shipped product samples to influential fitness personalities on YouTube.

Did it work? Let’s just say Ben currently oversees 190 employees.

Here’s the interesting thing: for corporate brands and legacy entrepreneurs, the social space can be a confusing one. “Grown ups,” no matter how successful they’ve been in business, are largely catching up to teens in understanding the intricacies of social media. As a Biz Kid, you’re better positioned than anyone else to make influence marketing work for you. That’s an advantage you should take advantage of. Who do you know? What do they need? How can you solve it? The answers may just make you a profit.

A lemonade stand with children in front of it.

Lemonade? Nope. Yeezys for sale!

Yeezys! Get your ice cold Yeezys here! Say what?!

Such was the message (and reaction) in small towns across middle America a few weeks ago, when Kanye West’s wildy popular shoes were released for sale not online, not in high end boutiques, not in sneaker shops, but at lemonade stands. Run by kids. In small towns.

The wild idea was undoubtedly a Kanye brainchild, but the salespeople were something else: actual children.

The marketing stunt wasn’t a greedy one. All proceeds were donated to the National Alliance on Mental Illness.

As with every great idea, there’s something to learn. Here: think outside the box. Just when you think there’s only one was to do something is precicely when another way just might win the day (and go trending on Twitter.)

A young man in a bow tie is posing for a picture.

Young entrepreneur? Tell us your story!

Over the last decade, we’ve met a lot of impressive young entrepreneurs. Sisters who turn bottle caps into magnets and jewelry, brothers who repurpose discarded sails from boats into sails for skateboarding, and tweens who take notice of a need in the candy market and profit from it, big time.

 

But there’s one young entrepreneur we’ve yet to meet: YOU!

April is financial literacy month, and we can think of no better way to celebrate than by shining a light on your entrepreneurial achievements.

Do you design clothing, detail cars, or sell baked goods? Whatever your business, we want to hear about it. We’re aren’t currently in production, but that won’t stop us from sharing the word about your business on social media.

Send us a Facebook message, reach out to us on Twitter, or email us and tell us what you’re up to. Who knows: you just might get a shout out on our social channels. We can’t wait to hear what you’ve been working on.

A painting of an uncle pointing his finger.

Peeking at Uncle Sam’s Receipts

Taxes are a funny thing. For many of us, they’re the single biggest line item in our budget. And yet, most of us couldn’t tell you what they’re paying for. Correction: what we’re paying for. It’s just money we supposedly earn but don’t get to keep (or ever see.) It’s not just kids who could better understand the life of taxes; it’s parents, too.

We’re so confused by our own taxes that a simple YouTube search delivers thousands of results, including taxes explained using beer, cereal, and emojis. Oh, heck. Let’s try the cereal:

As tax day approaches, wouldn’t you like to know what exactly Uncle Sam is spending your money on? It turns out Uncle Sam is pretty good at tracking his receipts. Today, we’re taking a look at his purchases and your contribution to each.

2017 was a big year for Uncle Sam. He spent $4 trillion, to be exact. Most of that budget comes from families just like yours (the other portion was borrowed–for now). According to the Motley Fool, the average American household contributes $10,489 to that each year. $8,367 of that is federal taxes, $2,046 represents state and local taxes, and $75 in miscellaneous taxes.

So where does that money go, exactly? Applying percentages published by the CBPP to the average family’s federal tax bill reveals some truly interesting numbers. Here’s what the average American household contributes to specific national projects, starting with the top three:

$2175.42 to Medicare, Medicaid, CHIP, and marketplace subsidies

$2008.08 for Social Security

$1225.05 on defense

Surprised so far? When many of us think of taxes, we think “roads, bridges, and schools.” While those are certainly funded by taxes, they aren’t the biggest spending categories by any means. Let’s skip down the list a bit…

$251.01 for education

$167.34 for science & medical research

$167.34 for transportation and infrastructure

If your kids are in public schools, that $251.01 is quite the deal. On the other hand, if you don’t qualify for Medicaid or CHIP, the $2175.42 you spend on the services might feel pricey. Feel like you’re throwing money out the window? Consider what your day would look like without taxes. We did, in an entire episode of Biz Kid$ called A World Without Taxes. Check it out and share it with your kids. Teaching a class? We created a free lesson plan just for you.

A World Without Taxes
A girl in a purple dress is smiling in a dance studio.

7 Biz Girls You Need to Know

In honor of International Women’s Day, we’ve curated seven of the most impressive women we’ve been privileged to profile over the years. Some are fashion designers, others are economists, and all are Biz Kids through and through.

 

DJ Ta-Tanisha: Spinning Debt Away

https://www.youtube.com/watch?v=D7CGUwTIoL4&feature=youtu.be

Zoe Damacella Designs: Planned for Profit

https://www.youtube.com/watch?v=KnwAGH-LDLE&feature=youtu.be

Beta Bytes: Focused on Exchange Rates

Fashion Designing Foster Child

Ava Anderson: Going Green

Layla West: Dancing Investor

https://www.youtube.com/watch?v=dVN8gSbYgLE&feature=youtu.be

The Bikery

The cover of entrepreneur magazine with a young woman holding a cigarette.

Biz Kid$ Latest Young Millionaires

When Entrepreneur magazine’s “Young Millionaires” issue his newsstands recently, we had to do a double-take.

Among the shining faces of impressive business people under the age of 20 were a few faces familiar to any fan of Biz Kid$.

First up: Zollipops’s brilliant Alina, who had the idea for a more teeth-friendly lollipop at the ripe of of 7. Her business is thriving, with more than 7,500 stores carrying her candy and more than $5 million in revenue expected to come in this year.

Also on the list: Moziah of Mo’s Bows! Now 16 years old, Moziah recently signed a contract with the NBA to create custom bowties for each team.

We couldn’t be more proud of our Biz Kids, but their profiles aren’t all Entrepreneurhad to share. Stories of other impressive teen entrepreneurs had our jaws dropping. Check out their full article to read all about more incredible kids turning their ideas into action across the planet.

Looking for more stories of ambitious young entrepreneurs? Check out our profile library, chock full of documentary-style videos chronicling the successes of real-life Biz Kids.

A group of people standing in front of a bunch of lemons.

Viva la Lemonade Stand!

Most of us have a similar reaction when passing a lemonade stand run by adorable children: a smile, and chuckle and if time allows, a show of support. But that’s not everybody. Apparently not on that list: exhibitors at the Denver Art Festival, who called the police upon seeing kids selling lemonade without a permit.

When the police arrived, the kids were told they would need three separate permits to operate, totaling a whopping $100 per day.

Finally, cooler heads are prevailing. The state legislature is considering a bill that would give kids a pass when it comes to permits. The Denver City Council already went to bat for the young entrepreneurs, approving an ordinance that allows kids to be kids without red tape.

Even the Senator appears to be onboard: “Currently the law poses a distinct possibility of criminal and civil penalty to children who are participating in childhood activities such as operating a lemonade stand, or shoveling snow, doing lawn-mowing, or running a bake sale,” she said. Senate Bill 103 will correct this problem by allowing minors to explore their entrepreneur sides by removing the red tape.”

A win for kid entrepreneurs appears to be on the horizon.

In the meantime, young entrepreneurs of Denver can play our Dollar-a-Glass game for free. No permits required.

A baby is playing with stuffed animals on a bed.

The Big Business of Babysitting

When the prime years for lemonade stand management have run their course, one of the first occupations filled by many tweens is babysitting. It’s no small job, and it’s no small industry! Childcare as a whole is responsible for $21 billion changing hands every year.

According to studies, the average hourly wage for babysitting nationwide stands at $15 per hour. Obviously, that includes many professional (a.k.a. grown up) nannies, but the lesson is clear: babysitting can be a lucrative job.

Babysitting isn’t just a lesson in childcare. It’s an opportunity to learn about pricing, marketing, and customer service, too. Just like every other type of entrepreneurial endeavor, marketing matters! Our guide to the “4 P’s of Marketing” is a great exercise in taking your business to the next level.

Need some inspiration? A new book from Houghton Mifflin Harcourt titled Best Babysitters Ever chronicles the entrepreneurial endeavors of three friends on a quest to throw one epic birthday party. In order to fund their fun, they turn to babysitting. Perfect for middle schoolers, the book was written by Caroline Cala and is a modern tale inspired by The Babysitter’s Club.

Buy the book today at Amazon, Barnes & Noble, or other fine booksellers.

Starting a babysitting business? Check out our episode and corresponding lesson plan, “How to Succeed in Business.”

A man in a wheelchair with a girl holding a cup of coffee.

The Little Girl Granting Little Wishes

Last summer, an 11-year-old girl spent the day with her mom at work.

Next summer, people around Arkansas will have their dreams fulfilled because of her.

Here’s what happened in between.

Ruby Chitsey is the daughter of a nurse practitioner at a nursing home in Harrison, Arkansas. When she accompanied her mom to work last summer, she got to know some of the complex’s residents. Eventually, she noticed a pattern: they couldn’t afford the simple things they needed or wanted.

Ruby stepped up to the plate, asking residents to make a wish. Their answers weren’t fancy: Dr. Pepper, pants, a new book. Ruby was determined to grant their wishes, one simple request at a time.

Her mom helped her create a GoFundMe account to fund their wishes, and what happened next was nothing short of awesome. People from all over the world joined forced to pull together more than $93,000. Now, those simple requests are getting fulfilled.

Ruby’s story is remarkable, but it’s also repeatable. What can you learn from her story, Biz Kid? What’s a cause that’s important to you? Your problem solving could improve a day, a week, or even a life.

Looking for more support on your journey of giving back? We filmed an entire episode on the subject, and created a free lesson plan to help guide your giving. Want another example of giving back the entrepreneurial way? We know just the girl. Meet Maggie B.:

Martin luther king, jr.

What Biz Kids can learn from MLK, Jr.

As the world pauses to celebrate the life and legacy of Dr. Martin Luther King, Jr. today, we’re revisiting a few of the timeless lessons found in his life and words – lessons fit for any world-changing, odds-defying, idea-pursuing dreamer. In other words, a Biz Kid.

Have a clear vision.

A far cry from the status quo of the day, King had a vision so clear, many of us can repeat it word-for-word decades later: “I have a dream today.”

Whatever your goals in life, create an image of that future and run toward it with all of your strength.

Take small steps toward your goal every day.

King said, “Faith is taking the first step, even when you don’t see the whole staircase.” Just because you don’t know where your idea will be in a year doesn’t mean you shouldn’t take the next step today. Perhaps that’s writing your idea down on paper, getting serious about profit margins, or educating yourself of on the pitfallsyou could experience. Whatever it is, a small step is typically a wise step.

Rethink “influence.”

The world’s most influential people have one thing in common: serving people. The inventor you admire? Her idea is serving your needs. The student leaders taking on a cause bigger than any one of them? They’re serving the greater good. So what doesn’t typically result in long-term influence? The pursuit of fame or wealth for one’s own good. As King said, “Not Everybody can be famous but everybody can be great, because greatness is determined by service.”  

Be the best YOU you can be.

We’re saturated by comparison. Social media, television, and hearsay can rob our self-esteem and prevent us from pursuing our dreams. The key, says King, is not to focus on what others are capable of, but maximizing your own potential: “Be a bush if you can’t be a tree. If you can’t be a highway, just be a trail. If you can’t be a sun, be a star. For it isn’t by size that you win or fail. Be the best of whatever you are.”

A group of people posing for a picture with a large check.

SDCCU Holiday Bowl Gives $47,000 to Biz Kid$

What did you do this New Year’s Eve, Biz Kid?

We spent the day with a few thousand of our closest friends in sunny San Diego, California.

The San Diego County Credit Union was the headline sponsor of this year’s Holiday Bowl, an annual tradition that brought together the Northwestern Wildcats and the Utah Utes. But the Wildcats’ win over the Utes wasn’t the only number worth reporting. SDCCU made a jaw-dropping gift to Biz Kid$ financial literacy initiatives, donating $1 from every ticket.

The grand total? A whopping $47,000.

Funds will be used to improve financial literacy in communities around the world. Now that’s the power of a dollar.

To our friends at SDCCU, and everyone who attended, thank you!

A pile of gold bars in a warehouse.

What $1.6 Billion in Gold Looks Like

What does wealth look like exactly? Some think it looks like $300,000 ride. Other think it looks like the best clothes or the biggest house.

The Millionaire Next Door taught us that it often looks like nothing at all — frugal people dressed in years-old cars and driving years-old cars.

But wealth is one thing. Money is another. And gold? Well, that’s another thing entirely. Gold–one of the first and most valuable form of currency–and then the standard for most currency worldwide, is still something to behold.

Ready? Here it is: $1.6 Billion in gold:

So how’s that pile of Bitcoin lookin’?

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