Nap also taught me the value of hard work.
|Pete & Penny, April 1962|
by Pete Grignon, Chief Financial Officer, CPA
“Get out there and do something, don’t just take up space!” At nine years old, I formed a shoe shine business partnership with two of my best childhood friends, Dan and Kevin. We lived across the street from a college with fraternities. There was this older kid Walter. We saw him shining shoes for the frat boys and found out he charged 15 cents a pair... today’s equivalent of a dollar. We decided we would charge 10 cents a pair. For the first week, business was slow as there were many loyal customers. So, we offered a 5 cent introductory offer for the first pair and each additional pair for 10 cents. Success. Walter wasn’t happy. He threatened to kick our butts if we didn’t stop our business. So, instead of fighting with him, we offered to divide up the territory and he agreed.
Lesson learned: There is enough for all to go around. Don’t kill your competition. Negotiate and think about the needs of others. You will always win, and without violence.
Turns out Nap wasn't alone in his thinking. Entrepreneur Cameron Herold's Ted Talk challenges us to raise kids to be entrepreneurs. Take a peek...