Dressed for success
There are courses to help kids run a business. For example, at 14, Paris Ramsay had a choice of looking for a part-time job or starting her own business. The daughter of entrepreneurial parents, she got into a weekend course at Bruce Campbell Business School for Kids. It sparked her imagination and motivated her to come up with a product with a story that people can connect with.
Part of Bruce Campbell’s course involves meeting up after six months to check in. “Each time you come back you are meant to have a set goal and report what you have achieved,” says Paris.
She set up a dog walking business and worked on her school’s farm but it wasn’t until a trip to Thailand’s Chiang Mai that she came across a local woman selling ethical beaded bracelets and other jewellery. She bought 47 pieces, set up Coco Lou (named after her sister) and sells them at market stalls and business events as well as through Facebook under cocolou.life.
“I wanted to find something I liked doing that could also make me money,” says Paris, who continues to receive stock from the her source in Chiang Mai. “I’m always on the lookout for special products.”
She uses the Square Point of Sale system for cashless sales and Google Sheets for accounts and stock. She has set up overseas banking. Last year Paris won an award for Young Entrepreneur of the Year at the business school.
Paris made the $3000 she needed to pay for a service trip to Cambodia with her Montessori school to work in a school there. She found the trip so rewarding that she has her sights set on a trip to Uganda to work in a rehabilitation centre for children, particularly girls who have been mutilated. It could cost around $20,000 for her and her mother so that is a lot of jewellery to sell.
Paris’s top tips
1. Treat your business like a job and set aside time to work on all aspects such as the accounts.
2. Don’t get stuck on the “drama hook” of running your business.
3. Word of mouth is key to a successful business.
4. If you have a supplier, keep communication going and create a friendship.