I’ve been playing around with the idea of starting a blog dedicated to personal finance. I realized the other day, my business and finance thought process differs from the average person. I’m not sure where this aptitude came from. Yes, I spent my college years in business school and I enjoy reading business books (I know that’s odd in its self, isn’t). But, my fascination with business and money came at a young age. My parents are by no means financial wizards.
As a child I was already a budding entrepreneur. When I was in middle school the Starter jackets with sports team logos embroidered on the back were cool, we thought they were cool anyway. All the kids that owned these jackets liked to adorn the draw strings with toggles and other objects. I found my niche with drilled dice. I would acquire dice for free, thanks to my Mom. I would than drill holes in the dice allowing the draw string to be threaded through the dice. After the manufacturing process was complete, the sale and marketing phase took place. Selling things at school is frowned on by the school administrators, but that’s a different story.
Looking back on my school boy business I learned several lessons. Use other people’s money (thanks again Mom), barriers to entry limit your completion (thank you school administrators), and manufacturing is not something I should have done myself (Outsource or delegate as much as you can). This early business venture had large margins due to the low cost of goods. What killed my business was the market. My school was only so big, and I had no connections with other schools.
My realization from the other day was the final straw. I plan to start this new blog when I finish my other project later this month. I hopefully someone can gain something from the new blog. At the very least, I hope I can become a better writer.