Earlier this week, while driving in the car together, she asked if she could open a bake shop. We talked about how that would be hard to do with school (getting up at 3 am to bake every day would not be great for her studies) and so she thought maybe a weekend bake shop would be a good idea.
Then she told me that she would like to use some of her college fund to start the business and once she starts making money, she would pay back the college fund with the profits. We talked about investing - and how whenever you invest, you need to diversify and spread the risk around. She understood that when you invest, there is a chance that you could lose the investment money.
She told me that she would handle all the contracts and stuff and that she would probably have to hire someone - most likely an adult - to work the oven. She likes the idea of the space having multiple usages - Saturday a bake shop and Sunday - an art place. She said that she would need to buy a place where there were lots of people and that was very popular. Location location location.
I told her she would probably need to rent at first and she conceded and said - Ok I will rent at first and then buy the place once I am making lots of money. She wants to call the bake shop - Yummy cake and the art shop Artpalooza.
She is ten years old and already an entreprenuer -thinking big, believing in herself, wanting to make money. She is insightful, realistic, practical, powerful, smart, and I cannot wait to see all the business she creates in her lifetime. Being an entrepreneur is a state of mind, and she knows it.
