Hidden Lessons In Reselling
There are hidden lessons in reselling with your kids.
But you won’t identify them until you actually get involved with it.
In episode #51 of the podcast, titled, “reselling with your kids” we talked about getting started as a reseller.
We covered some of the basics like the tools we need and how the game has changed dramatically over the years.
Besides learning about making a profit, these past 4 months have offered my son and even myself lessons beyond that.
The hidden lessons in reselling
For this week’s episode, we focus on 3 of those lessons. There is so much to learn about business and being able to educate my kids about it with reselling has been a gift and a curse.
It’s a gift because I get to be a dope dad and teach them without boring or forcing them to learn.
The curse of it is having them thinking they know it all and then having to shut them down with a little knowledge.
In the past 4 months, we had to focus on the trust factor when it comes to reselling. We talked about the hidden costs associated with reselling because if you leave it up to the kids, everything is pure profit. Especially if they are using your money!
We also covered something that brings its own group of lessons, do you buy for the quick flip or hold for a long term investment.
Schools won’t teach this
Like any other investment, reselling goods can go wrong.
You, or better yet, your kids might think they know it all, but in this game slaps to the ego come quickly and often.
However; that shouldn’t stop you from doing it, especially if your kids find it interesting. You just have to roll with the punches and use every moment as a learning one.
To be REAL, the lessons that come from reselling aren’t taught in school. They might teach you how to count the change in your pocket, but that’s as far as it goes unless you head off to college and major in economics.
Our kids shouldn’t have to learn about that side of the world while they are in college. On this side, we teach them about financials as soon as they can count and talk.
Find a way to educate them in the financial world that is both fun and educational for all of you. That is the least we can do for our kids because the world or school won’t.
Make your presence felt fellas, we matter, get your hustle on with your kids
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