Worm factory lesson: marketing

In another post I talked about setting up a small business to teach children entreprenership.  In the next series of posts, I write about the lessons that are being taught to my children from a simple worm factory. This post is about marketing. All businesses need customers.  Without customers a business will not survive, let alone thrive.  So it is important that we have a business that has customers. When we first started our worm factory, having customers didn’t even enter my
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Worm factory lesson: customer

Without customers, there is no business. Keeping it simple works best when teaching young children about money. In this post, I explain how our humble worm farm taught us the value of customers. So we wrote our sales letter and started to get some customers.  At first, we only sold worm wee concentrate.  We took the view that once the concentrate runs out and the customer needs more, he or she will get in touch with us again. But for the
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Worm factory lesson: reinvesting profit

In another post I talked about setting up a small business to teach children entreprenership.  In the next series of posts, I write about the lessons that are being taught to my children from a simple worm factory. This post is about reinvesting profit into the business. My household currently produces more organic waste than the worm factory can process.  So we have been thinking of adding to the factory’s capacity.  In worm farm terms, this simply means adding more trays to the
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To teach entrepreneurship, become an entrepreneur!

Many people dream of becoming an entrepreneur one day but many do not realise this dream.  This is not surprising given the number of businesses that fail every year.  There is a belief that it’s safer to be an employee with a guaranteed pay check every week/fortnight/month.  But the reality is, being an employee is not safer.  Ask those who have been retrenched and they will tell you that they never thought they’d lose their job. I used to think
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Despite best-laid plans

Sometimes the best-laid plans will fail and it’s okay. I will always choose for my children to have a childhood over insisting on teaching them a money lesson. Financial literacy is not a race. It is a journey of lifetime learning. There is not a test that I or my children have to pass. As long as I constantly expose my children to money lessons, I know I don’t need to follow any rigid plans. In fact, sometimes it’s okay to
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