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Common Sense Business for Kids Review by Erica Beyea and Debbie LottKathryn Daniels
P.O. Box 1014
Placerville, CA 95667-1014
Common Sense Business for Kids is a short book packed full of wisdom and practical advice for a budding middle school or high school aged entrepreneur. The author not only has a business background, but also collaborated with another successful businessman to give readers a thorough glimpse into what is necessary to embark on a business venture.
At only 62 pages long, this book is an easy read while still thoroughly educating young people on common business principles such as operating costs, market potential, research, management principles, inventory, flexibility, sales, and startup investments. Even though these topics can be somewhat confusing and overwhelming, Common Sense Business for Kids lives up to its title by explaining them all in a reader friendly format that just “makes sense”. Woven throughout the book are real life examples that a young person can grasp, such as a financial strategy of investing $100 – something a young person reading this book might actually be capable of doing.
I have several children that have an interest in business – one that is taking college level business classes, and another that is interested in starting a small business while still in high school. Both of them found this book useful and helpful. As a small business owner myself, I found that reading this book gave me a practical understanding of several areas of my own business that previously had confounded me.
Reading this book was a very enjoyable experience, not only for the useful advice that was given, but also for the excellent real world, common sense that was gained. I would highly recommend this book to anyone who is contemplating a journey into the world of business, but especially to young entrepreneurs before they get started on their business venture. Bluestocking Press is currently selling this paperback for $8.95 which is just a “common sense” investment!
-Product review by Erica Beyea, The Old Schoolhouse Magazine, LLC, December, 2016
Another Reviewer’s Perspective:
Common Sense Business for Kids is a short book of only 62 pages, but provides a clear introduction to business and economics for students. Daniels explains that understanding the basics of business doesn’t require college degrees and advanced theoretical training. She breaks down business operation into easy steps, using examples to which any child can relate. As the title of Chapter 1 states, “Business: It’s All About Common Sense.”
Daniels emphasizes the importance of starting small in business and making sure you have enough capital to carry the business for a while rather than going into debt. She talks about evaluating the need for a particular product by assessing the demand and the competition. Are there other nearby business selling the same product? Would ice cream sell well on a snowy day? Maybe selling hot chocolate would be a better choice. She discusses operating costs, such as building, insurance, wages, and taxes that need to be considered when setting a selling price for a product. She discusses inventory management, diversification, and the traits of a good salesperson. By including concrete examples of these principles using kid-friendly scenarios like selling beach souvenirs, the silliness of choosing to sell furniture in a drug store, and choosing the best market for baby bottles, the guidelines for running a business are made quite simple.
This book is easy to read and would likely appeal to kids and teens ages 10 and up. In fact, it is likely to inspire a bit of entrepreneurial spirit in your child! The content is quite solid, though, and would be helpful for older teens as well. I am a business owner myself and actually used most of these principles while choosing my product, setting prices, and choosing marketing strategies.
—Product review by Debbie Lott, The Old Schoolhouse ® Magazine, LLC, December, 2016