When we were children we never have the same fears that adults have and this is one of the great advantages of being young and carefree. This is often why we have so many accidents as children compared to as adults because we now see the dangers as they head in our direction without letting them stick to us.
But when you look back at your childhood what has it taught you in business?
Think about how you made money as a child to topup your pocket money and imagine if today you could turn them into little income streams. The more you have of these income streams the richer you will become and the closer you will get to financial security. As a child we had income streams too except we were simply too young to realise the potential that they brought to us.
I had lots of income streams from the age of seven onwards though at the age of eight (my sons age) I certainly had the most. Unlike other children in my class at school I could afford to buy myself nice little treats, feel all grown up by taking my own spending money on holiday with me. But the most special part of it all was to have the independence that it brought to me.
One other reason that children do so well with their income streams is because the cute factor melts the adults hearts in an instance and when I was little boy did I know this.
Back to me age eight it was the year 1990 and having parents that were both self-employed meant that I was around them as they were generating their own businesses giving me ample opportunities to catch in on their customers. My first income stream came when we moved house and they bought two blocks of luxury holiday flats at a seaside town in Yorkshire (England). Saturdays were extremely busy with new arrivals and the old customers leaving. It was a real madhouse from 7am right through to 4pm and there were suitcases in every direction. So I became the eight year old luggage assistant getting the luggage into the different flats for them and earning £1 per suitcase and I moved a fair few.
On top of this though with a shop across the road I would also be paid for getting the essentials in for them such as milk, bread, tea and coffee. Again this topped up my Saturday afternoon rather nicely and I was able to make serious money for someone of my age. I would also strip all the beds in the flats during cleaning time and make some extra money via my mum and this added up when you have twelve flats sleeping from anything from two through to eight.
But my income streams didn't stop there - I was lucky enough to have parents that also ran a record shop and video rentals. This really is a kids dream imagine having access to constant videos and CDs whenever you wanted them without having to spend a penny. What I noticed though was that my Dad didn't have many sales with the childrens range even though Disney was red hot parents only seemed to want things for themselves and never came in the shop with their kids in tow always when they were at school.
So I realised that something was missing here - my Dad wasn't targeting his market he was just concentrating on people buying them on their behalf and this clearly wasn't working. So instead I took the videos to school and rented them out to children in the playground who ranged from age seven through to age eleven. I even had a little book with all the details in it for all my orders. Lets just say my Dad was very impressed and for my very first joint venture in business I got the usual 50% cut. I also sold all of his ex-rental copies that he wanted rid of at a later date.
But this is the most important thing that I learnt...
Accounting!
We had this amazing guy called Jim who has since passed away but he taught me everything I needed to know. Like is often said about children they really do soak up information like a sponge and as a child I was no different. I used to sit there and watch him for hours doing my parents books. By the age of ten I could of giving an accountant a run for their money. I know it all and through school I was top of the class due to my home experiences. The thing is when you learn these skills early on you can take them much further compared to learning new skills at college or university. It also taught me how to learn to count in my head and not rely on calculators. It also means that I do all my own accounts now for the business without the worried expense of hiring an account that doesn't understand the make money online niche.
The big question is:
What did your childhood teach you about making money?
I learnt how to spot income streams and do my accounts but even using a childhood hobby to create niche sites will do the trick. Also remember as a child there is no fear bring this with you into adulthood - if you worry too much about an income stream you will never make money online. You want to lose the fear and just see how it works with income streams online there really isn't much money to pay out so if it doesn't work just move on to the next one until you get it right. Then when you find the ones that work repeat it over and over again until you are financially secure.
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