Young Paracording Entrepreneurs
Tomorrow's Business Leaders are Crafting Paracord Today
Theo Waitkus, Paracord Planet fan
The value of a dollar is vastly inflated in the eyes of a
child. As a kid, I used to do anything for a few bucks. I remember the dog days
of summer, when my neighbors and I would set up a streetside lemonade stand,
beckoning walkers-by to make a purchase. It took us about 6 hours to accrue a
whopping $5 in total profit, and only 30 seconds to blow that entire amount on
candy at the local gas station. We didn’t care. We were young, ambitious, and
hungry for any little portion of wealth we could find. The same entrepreneurial
passion is alive and well in the hearts of youth ten years later. I grant
paracord some of the credit for this. Paracord crafting has not only become a
way to spend one’s afternoon, but also has become a viable business venture for
children of all ages. Listed below are
the most valuable lessons a child can learn about running a business from
selling paracord bracelets to friends and family.
Lesson #1: How to be creative
Image from Rothco
The first thing a paracord crafter
must establish is their competitive advantage. What can you make that nobody
else can?! You have to keep a watchful eye on your competition and make it your
sole objective to create more original products. This requires creativity. A
child’s imagination is his/her most coveted asset. The uninhibited mind of a
child is able to develop an unfathomable range of ideas. This means an unlimited
amount of paracord designs. Creative weave and knot patterns will be the
stepping stone that children use to further their business. When they enter the
corporate business world, it’ll be the same. A creative product is as necessary
in the industrial market as it is in the market for paracord bracelets. Young
entrepreneurs will learn how to continually expand their creative minds through
selling paracord designs.
Lesson #2: Understanding supply and demand
Image from Lead Energy
My first economics course in high
school was nearly the death of me. I also never crafted nor sold paracord
bracelets while growing up. Coincidence? Maybe. Seriously though, kids can
learn a major lesson in basic economics through their bracelet business. How many bracelets do I have to craft this
week? How much raw paracord and how many paracord buckles will I have to buy to
satisfy these orders? Not only will a child learn the relationship between
supply and demand, but also will learn how to increase demand through
marketing. Whether they choose the word-of-mouth route, wherein Billy tells
Jessica that Little Joey down the block can make an awesome bracelet, or they
go to social media to post listings for their products, children have the
opportunity to make their brand known. Learning how to price their products is
another lesson for these young saleschildren. Selling paracord bracelets is the
ultimate Economics 101 lesson for a kid.
Lesson #3: Distributing your product
Image from Mambo Sprouts
After a product is created and a
customer is interested in purchasing said product, your saleschild is going to
need to get the product to their customer. This is where their lesson on
distribution will come in. Whether the distribution involves packing bracelets
in one’s backpack and delivering them at school or sending them in the mail,
kids will learn a valuable lesson here. Not only does the product have to stay
safe and in-tact, but it also must be delivered at a reasonable time. The same
concerns emerge in the corporate world. Quality and timeliness are the keys
here. Our young entrepreneurs will learn the benefits of having a proper distribution
system during their bracelet-selling endeavor.
Lesson #4: Managing customer relations
Image from Cindy Tansin
The final, and arguably most valuable, lesson a child will
learn from crafting and selling paracord products is customer relations. In an
ideal world, every customer we ever encounter will be exuberant and joyous with
their love for our product. Unfortunately, universal satisfaction is a mythical
goal. A child may encounter a few customers who are less-than-happy with their
order. They will learn the ramifications that come along with an unhappy
customer, and will learn how to improve the quality of their product to avoid
encountering this unpleasant event again. Children will learn how to respond to
adversity and persevere, which is very possibly the most important lesson for any
businessperson to learn. Our young entrepreneurs’ early lessons in regards to
customer relationship management will really set them ahead in the business
environment of their future.
Making paracord bracelets most likely will not make your
child rich. However, it will make them rich with knowledge of important business
concepts. I firmly believe that the best entrepreneurs and business executives
of our future are busy crafting and selling paracord bracelets today. So,
encourage your child, younger sibling, or neighbor to get into paracord
crafting; it just could be what leads them to success in their future.
Image from Grand River Toys
Make sure to like us on Facebook, follow us on Twitter, add
us to your Google+ circle, check out our Pinterest, and add us on Snapchat at
“ParacordPlanet.” We are frequently running contests and giveaways on all of
these social media mediums, and would love to connect with our fans here!
Written by: Jackson Yakowicz, P2 Intern
Contact at jacksony@imsetc.com
For more of Jack's work, view his full blog.
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