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A woman in a wetsuit is playing with children in a swimming pool.

Summer Jobs

June is here, and with it comes the long-awaited summer job! So this week, we thought we would dive into the waters of seasonal employment.

So what kind of jobs can you get for a summer, anyway? Lifeguards, nannies, and summer camp staff are a few obvious short-term occupations, but there are quite a few others that a determined Biz Kid could land as well. Does anyone in your family own a business? You may be able to land a summer internship working in the office. Can you mow lawns? Clean pools? Take care of pets while your neighbors go on vacation? Think about what needs come up temporarily in the summer and seek to fill those.

Where can a temporary job take you? Even the people who work at the White House had to start somewhere. The White House has released a series of videos chronicling some of the staff’s first jobs. Watch White House Executive Chef Cris Comerford talk about her first job as a salad bar assistant, Senior Presidential Advisor Valerie Jarrett discuss her role as a clinic coordinator at a hospital, and Jimmy Fallon chat about his gum-scraping role at a grocery store.

We just released a brand new episode from season 5 titled, “It’s a Job to Get a Job!” Watch clips from it right now on our website, and find out more about resumes, interviews, and internships.

A summer job can be a great way to try your hand at a profession without committing to it for an extended period of time. And who knows? You may just make a connection that will lead you to your dream job in the future.

So tell us: where are you working this summer, Biz Kid?

Newsletter: June, 2012
The Vault June 2012: 50 Ways to Make Money This Summer
Looking for a way to fund your summer fun? Even if you can’t (or don’t want to) get a “job job,” you can still make some cash. We’ve cooked up a list of 50 ways to do just that.
Every great business starts with an idea
What are you interested in? What are you good at?  What problems do you see need fixing in your world?  If you see a need for improvement somewhere, you can be certain that others do, as well. If you can find a solution, you’ll have a group of customers who will pay for your idea.
So where should you look to find the next big idea? Look in the mirror!  Are you a star on the basketball court, best chef in neighborhood, or organization master? Your area of expertise and passion is where you should start brainstorming. Search the list below for some inspiration, and you’ll be well you your way.
Video of the month
The Karimkhani sisters turned their passion for music into moutains of cash. See their story in our exclusive video here!
50 ways for kids to make money over the summer
1. Take pictures or videos of pets or kids or of an event such as a family reunion.
2. Use your computer skills for data entry or word processing.
3. Design brochures, posters, or websites.
4. Tutor other students in a subject you know well.
5. Teach music lessons.
6. Babysit or be a parent helper.
7. Teach swimming or be a lifeguard.
8. Pet sit.
9. Walk dogs.
10. Wash dogs.
11. Housesit or take care of plants.
12. Provide a cleaning service such as vacuuming and washing floors.
13. Organize garages, attics, drawers, and cabinets.
14. Wash cars, decks, houses, porches, windows, patios, and driveways.
15. Run errands.
16. Grocery shop, then carry and put away food.
17. Deliver newspapers.
18. Paint or stain houses, decks, rooms, fences, or furniture.
19. Mow lawns.
20. Entertain: be a clown, musician, or magician at kids’ birthday parties.
21. Collect and return bottles or cans that have a deposit.
22. Sell baked goods or homemade candy.
23. Make pet food.
24. Build, paint, and sell birdhouses.
25. Decorate and sell clothing.
26. Sell picture frames.
27. Design and sell greeting cards.
28. Create jewelry.
29. Make soap.
30. Make candles.
31. Grow starter plants for gardening.
32. Buy and sell used bikes or toys.
33. Open a lemonade stand.
34. Open soda stand.
35. Open a fresh juice stand.
36. Open a fruit stand.
37. Open a fishing bait stand and sell worms.
38. Sell items at a farmers’ market or craft fair.
39. Organize a yard sale for your neighborhood for a percentage of the proceeds.
40. Sell clothes through a consignment shop.
41. Write a newsletter or magazine to sell.
42. Sell used books, DVDs, or CDs to local stores or through a website with adult help.
43. Do laundry.
44. Do landscaping like planting flowers or trees.
45. Play music on the sidewalk.
46. Rent out your toys or comic books.
47. Collect lost golf balls.
48. Sew clothing or accessories.
49. Hunt for coins with a metal detector.
50. Wash cars.
Cool kids cola - screenshot thumbnail.

Good Design & The Young Entrepreneur

Let’s face it: in business, most of us judge a book by its cover. If you have a stack of pizza menus in front of you, which one will you choose? Probably the one with the best pictures and most attractive layout, right? What if you are choosing between two soccer camps? The one with the better website will probably earn your signup, won’t it?

Regardless of the quality of the product at hand, we all have a tendency to make decisions based on packaging, branding, and advertising. So what do you do if you are a young entrepreneur without a marketing department? How do you compete with the flashy ads of the “big guys”?

If you’re a young entrepreneur with a business you’re passionate about, it is your job to communicate that passion to others by telling the story of your business through the marketing materials you distribute. A website with typos or hard to read type tells people that you don’t pay attention to details. An eye-catching and professional business card, on the other hand, communicates that you know how to market yourself. So how do you do it?

Templates can be a saving grace, or they can be the worst design decisions you will ever make. If you are using a 1990’s version of a word processing program, you are not going to create something cutting edge. When printing business cards, most printing companies or even office supply companies will have decent templates to choose from, even supplying you with graphics if you don’t have a logo of your own.

If you don’t already have a website for your business, take advantage of well-designed templates from sites like WordPress and Tumblr. They are used by thousands of people to create fast, professional-looking websites. But the template is just part of the process. Don’t launch your website until it is complete. “Site under construction” messages scream of small startup status, and reduce confidence in the consumer. Make sure you have someone scan your site for typos, as well.

Finally, be creative. Every marketing department from 1000-person corporate machine to the sole proprietor wants to do the same thing: get attention. You can overcome the drawback of limited funds by using your creative, youthful brain. Great ideas can be reduced to putty in enormous companies. By being a Biz Kid and thinking creatively, you can get your business the marketing attention you want. You have what it takes, Biz Kid. Go tell the world your story.

For more on advertising, check out our brand new episode, “You are the Target!”

A boy is standing in front of a table full of cans.

Growing Pains

John D. Rockefeller once said, “I believe that every right implies a responsibility; every opportunity, an obligation; every possession, a duty.” In the world of youth entrepreneurship, the new obligations that come with success can be overwhelming. At Biz Kid$, we often hear stories of young entrepreneurs who have hit the media jackpot, earning lots of attention in a short period of time. The newfound attention creates an influx of business, and the young business maven is left with a stack of orders that they are unequipped to fill.

Biz Kid Hart went through such a predicament with his Man Cans candle business when media attention multiplied candle orders exponentially overnight. Hart had previously been washing cans by hand and filling orders in his kitchen, and was now faced with a predicament: how could he fill the enormous number of orders fast enough to avoid upset customers?

Hart’s story is just one of many we have come across over the past five seasons of Biz Kid$ in which changes in the manufacturing, selling, or shipping processes are forced to change when an entrepreneur’s product or service is suddenly in hot demand.

So what can you do to avoid losing your business due to unpreparedness in the face of success? The key is thinking ahead. It may seem silly to plan for thousands of orders when you are selling your widget one at a time, but it will be time well spent should your company spend some time in the spotlight.

Planning a “phase two” of operations should include answers to questions such as who will fill orders, respond to customer emails, manufacture the products, and deal with returns, should the sole proprietorship become overwhelmed. Do some research and find a company that could manufacture your product for you. Find a shipping service that can handle the fulfillment of orders for you. Think about friends or family members who would be willing to work on a hourly basis should another set of hands be needed with short notice.

Keep all of your research in a folder or a document on your computer. If and when your product’s big moment happens, you will be well positioned to ride the wave of success. As Thomas Edison said, “Good Fortune is what happens when opportunity meets with planning.”

A boy is riding a skateboard in a parking lot.

The Innovative Race to First

There is a much-loved term in the world of entrepreneurship called “first mover advantage.” The first mover advantage is the head start that is gained by being the very first person to enter a market or create a product. Steve Jobs and Steve Wozniak had the first mover advantage in the consumer PC market when they created the Apple computer. Swiffer had the first mover advantage when they introduced their take on the disposable mop.

There are pros and cons to being the first mover in a market. Obviously, competition doesn’t exist, so pricing and expectations are yours for the making. But mistakes are yours for the making as well. There is a saying that goes, “the first bird gets the worm, but the second mouse gets the cheese.” There are numerous examples of second movers taking advantage of the discoveries and developments of first movers, and then surpassing them. The Amazon Kindle was by no means the first e-reader, nor was the iPad the first tablet. Both learned from the failures of the unsuccessful product launches before them and made improvements.

So how does the concept of first mover advantage affect you as a Biz Kid? Anytime a new market opens, the earlier you react and create products or answers for the market, the more likely you are to draw attention. Many teens wrote apps for the Apple app store when it first launched, and were quick to gain a customer base before there were thousands of developers to compete with.

Fast Company Magazine recently published an article about a new product that has just entered the consumer market, a 3-D printer called the Solidoodle. This is a printer that can act as a miniature factory in your own home. From missing parts for electronics to on-demand toys, the uses for the product are yet to be determined. Let’s use the Solidoodle as an exercise for the first mover advantage. A machine has just created a new opportunity for product design. How would take advantage of being one of the first entrepreneurs to own one? What would you make?

Newsletter: May, 2012
The Vault May 2012: Shocking first jobs of the rich and famous
The folks who make the front pages, pop charts, and Fortune 500s of the world weren’t always that way. Most of them once held humble jobs–some of them very humble. In this issue of The Vault, we give you an inside look at where the high and mighty got their start. Prepare to be shocked!
Exclusive Biz Kid$ Video
Want to look like a million bucks without breaking the bank? Check out how Biz Kid Valerie reined in her budget AND amped up her style in our exclusive video from Season 5 of the Biz Kid$ TV show. Read Valerie’s blog Beauty and the Budget for even more tips.
Getting the most out of your first job
Just like these titans, your first job will probably not be “Leader of the Free World” or “Hollywood Big Shot.” Whatever it is, don’t be afraid to get your hands dirty–first jobs teach you lots of great skills you can put on your resume. Most importantly, they’re places to make connections. You never know who you might meet and what it will lead to! Treat every job like it’s the one you really want and you’ll find yourself rising to the top. Everybody starts somewhere!
Thirty-one flavors of hope
Perhaps Barack Obama’s job slinging ice cream as a teenager at a Honolulu Baskin-Robbins helped him win the White House. Customer service skills can’t hurt–after all, the President of the United States of America has more than 300 million people to please.
Who you callin’ chicken?
Brad Pitt is one of Hollywood’s highest-paid actors, but he sure paid his dues on the way to the top. He once got a job standing on a corner handing out flyers for chicken restaurant El Pollo Loco–wearing a full chicken suit!
Clowning around
Before he brandished Wolverine’s claws, Aussie actor Hugh Jackman honed his acting skills as a clown at children’s birthday parties making $50 a gig. Now he makes up to $9 million per picture–no rubber nose required.
That’s a lot of dishes
Dell Incorporated sells $60 billion worth of computers and services per year. But Michael Dell, the company’s founder, got his first work experience washing dishes at a Chinese restaurant for $2.30 an hour. He didn’t really need the money; he used it to fund hobbies like stamp collecting. To earn his currrent net worth of $15.9 billion at his former hourly wage, he would have to work for 2.4 million years.
An image of a resume with a yellow spot on it.

The Most Important 6 Seconds of Your Job Search

In a job market like ours today, news about job hunting, resume building, and interview preparation are rampant. But a recent article caught our eye this week that made us think about resumes, and the competition that job seekers have on their hands. Vivian Giang of the Business Insider published “What Recruiters Look At During The 6 Seconds They Spend On Your Resume” earlier this month, and the article has caught fire, with more than a million people reading the article.

Giang’s article summarizes a recent study that used heat map technology to track recruiters’ eye movements as they scanned a resume. The study found that recruiters spend an average of six seconds on a resume. That’s six seconds of reading on what job seekers likely spent hours upon hours constructing.

So what does this mean for job seekers? First, you’ve got to catch a recruiter’s eye. The study found that recruiters spent longer and looked at more content on less densely written resumes, so padding your VC with long descriptions isn’t going to help you. Brevity and specificity are key. Also, use numbers where possible in lieu of generic adjectives to show, rather than tell, that you have what it takes. “Increased sales 23% in first month as sales manager” is more powerful than “skilled salesman”.

Second, think of the recruiter’s process as an elimination game. If you were looking for a reason to toss your resume out of the pile, could you find it? A single typo in a stellar resume is likely to send your piece of parchment into the recycling bin.  The same goes for an inappropriate or unprofessional email address. Remember, you aren’t going to be in the recruiter’s office to justify anything on your resume as they read it, so assume the worst and eliminate unprofessional content.

Yes, we have a tough and competitive job market on our hands, but knowledge is power. Learning about the hiring process—and in this case, the resume reading process—will give you an advantage in your search for employment. You have what it takes, Biz Kid! Tell us about your job-hunting experiences below. Have you ever had a resume typo cost you a job?

A stack of united states checks with the statue of liberty.

The Great Myth of the Tax Refund

Tax day passed a week ago, and in just enough time for your parents to recover from their sleep-deprived, last minute tax filing, refunds will begin to arrive in mailboxes across the country in a matter of days.

If you turn on the TV or look in the newspaper this week, you’ll certainly notice that stores are especially aware of the additional income shoppers will have access to this time of year, and they want a piece of it.

The average tax refund is approximately $2,500. That’s $2,500 of your money, surplus money that you gave to the IRS earlier in the year. So why do we see tax refunds as free money? Tax refund amounts are often a surprise, and so we rarely budget for them. Alas, when that $2000 check arrives in the mail, the ads for 52” plasma screen televisions and theme park vacations are tempting. But don’t fall for the tax refund trap; it’s your money you’re spending!

Financial professionals often remind us that tax refunds are a product of paying too much to the IRS in the first place, and that we could be making interest of that money if we estimated correctly. But an important factor to remember is that most of us don’t have the self-control to take an extra several hundred dollars a month and put it into an interest-bearing account. It sounds smart in theory, but for many, withholding taxes is a forced savings account.

If you are one of those people who delights in a multi-thousand dollar refund, remember two things: first, that your tax refund is the same money you worked for, hour by hour. Would you spend $2000 on a TV if you realized that you worked for 100 hours just to pay for it? Think before you spend. Second, plan ahead. Before that tempting check arrives in your mailbox amidst commercials begging you to spend it, think about investing it, saving it, or using it for a wise purchase.

This tax refund season, think before you spend. You’ll be happy you did.

For more coverage on the taxes you pay, check out the Biz Kid$ episode, “A World Without Taxes.”

A man holding up a hand with the number 440 written on it.

Credit Scores 101

“A FICO score above 700 is required.”

“We reserve the right to perform a credit check.”

“Excellent credit required.” 

How often do you hear statements like this? Do they leave you scratching your head? What is a credit score, anyway, and how does it affect you as a Biz Kid? This week, we’re inviting you into the Biz Kid$ classroom for Credit Scores 101.

What is a Credit Score?

A credit score is a number, ranging from 300 to 850, that scores your responsibility with borrowed money, or credit.  The number is determined by credit reporting agencies, companies that receive information on your debts from the lenders. FICO, which stands for Fair Isaac Company, is the most commonly used agency.

 How does my credit score affect me?

Your credit score is used more widely than you probably think. Every time you ask for a line of credit—a loan, a credit card, a mortgage, etc.—your credit score will be looked up. Additionally, employers can even look into your credit history before offering you a job. This means that a decision you made about credit in your teens will affect you for years. One late credit card payment, for example, can drastically hurt your credit score, a mistake that will take years of responsible spending to correct.

 What can I do now to ensure that I have a healthy credit score?

Time is on your side if you take your responsibility seriously. By keeping every account that is in your name in good standing, you will begin to develop a healthy credit score. If you get a credit card for gas when you begin driving, for example, and make your payments on time, your credit history will reflect your good financial behavior. Even your library account can enter your credit history if you let a late fee go unpaid, so be careful and be responsible.

Want to learn more about credit? Check out the Biz Kid$ episode, “How Credit Affects Your Life.”

Newsletter: April, 2012
The Vault, April 2012: Fashion Forward!
In our continuing quest to bring you the coolest business info around, this month we’re talking about the business of fashion including cool careers and amazing facts. So press those cuffs and polish those pumps as we delve into dressing up!
Video of the Month
The Biggest of the Big
Fashion is all about fun, but it can also be financially rewarding. Here are the top 5 U.S. apparel companies ranked in order of annual revenue:
1. Nike, $19 billion
2. VF, $7.7 billion
3. Polo Ralph Lauren, $5 billion
4. Phillips-Van Heusen, $4.6 billion
5. Levi Strauss, $4.4 billion
These companies have their headquarters here, but they don’t actually make much if any clothing in the U.S. In fact, according to ABC News, 98% of clothing sold in the U.S. is imported.
Making it in Magazines
Ever read a fashion mag? Ever wanted to WRITE one? Teen Vogue has some great tips for breaking into the biz, including how to land an internship and what kind of education you’ll need.Check it out here.
Cool Careers
What comes to mind when you hear “fashion career?” You probably think designer, model, maybe photographer…but there are a lot of cool careers in fashion behind the scenes.
1. Personal stylist: Have a great sense of style? Not everyone does. Personal stylists help busy executives, brides, moms, and more with their look and wardrobe.
2. Fashion buyer: These savvy individuals are literally setting fashion trends. They work for retail stores to find and purchase seasonal clothing lines. This career often involves national and international travel and can bring in more thatn $100,000 per year.
3. Fashion merchandiser: If you love fashion AND have a head for business, consider this career. Merchandisers analyze production costs, sales figures, and trends to help fashion companies make the right business decisions.
Style Has No Age Limit
Fashion blogger Tavi Gevinson started writing online when she was eleven years old and her unique insights quickly caught the world’s attention. Her parents thought she was wasting her time–until she asked them for permission to be in the New York Times! Read Tavi’s blog here.
Crazy Fashion Facts
Budgets just like walking a tightrope it's all in the balance.

Budgets, Evolved.

What comes to mind when you hear the word “budget?” For some, pictures of envelopes stuffed with cash are the standard. For others, detailed Excel documents are a must. From the halls of congress to the Velcro wallets of tweens, budgets are a necessary discipline. But what tools are out there to make budgeting easier? This week, we bring you an executive briefing on the latest and greatest tools for crafting your budget.

  1. EEBA: The envelope system has a digital cousin. EEBA is a free app that uses digital “envelopes” to track spending in designated categories such as food, entertainment, and utilities. Make your own boundaries and track your own spending to stay within your goals.
  2. Mint.com: Similar to EEBA, but with additional access to live bank account information. Mint.com has both web resources and apps, so you can take your bank accounts with you wherever you go!
  3. Banking sites: The same bank you use for your savings or checking account probably has its own set of tools available to you for free. Take a closer look at your bank’s website, and ask about free tools for customers. From annual reports on your spending to recommendations for helping you save wiser, your bank could be a treasure trove of free resources at your fingertips.

With these tools and a bit of discipline, you’re well on your way to crafting a smart and sensible budget. So do you think you have what it takes to be a budgeting master? Check out this interactive feature from the New York Times, and try your hand at balancing our country’s budget!

And if you are craving even more budgeting talk, listen to our Biz Kids Hosts give their two cents on the subject.

A man standing next to a car with a sign on it.

The allure of the shiny new purchase

So you want to buy that shiny new iPad? Or a sweet electric guitar? You just can’t stop thinking about going on a dream shopping spree? We hear the same financial advice all the time: separate your wants and your needs. Do you really need that toy?

But every now and then, there is a big item that we all can’t do without, so we think. For those moments, there are smart and foolish ways of going about the purchase. So for those “can’t do without” things, we have a few reminders to share.

Reminder 1: don’t touch that credit card. “Wants” are not emergencies. The shoes, concert tickets, and skateboard can wait. Freeze your credit card in a block of ice, store it in a safe, or tape it to your ceiling, but don’t give in to the temptation to use it for splurges. You’ll be happy later when you aren’t buried under a massive credit card bill.

Reminder 2: you’ll be happier the longer you wait. Saving up for a car and buying it with cash, for example, will be much more satisfying that giving in and getting a loan. Save little bits of cash over a period of time. Make a savings jar for that thing that you can’t get off your mind. Soon enough, you’ll have enough saved up to buy the item you want. And guess what? There’s a good chance that prices will have dropped or a new version will have been released during that period of waiting. The first Kindle was priced at $399 just a few years ago. Today, you can buy one for $79.

Reminder 3: de-clutter and reap the benefits. You may be able to find something to do with two iPods, but amassing stuff is a bad way to handle money and resources. Considering trading in or selling your old electronics or toys when you decide to buy a new one. Sometimes, you could pay for as much as half of your new gadget just by trading in your old one!

Buying stuff is always appealing, but being patient and saving will always prove to have the most lasting benefits. Want to learn more about saving? Watch clips from Biz Kid$ episode, “Saving & Investing.’

 

 

 

 

 

 

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