Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®
Co-CEO and Founder oXYGen Financial, Inc.
Who’s got a case of the munchies? Purchasing a box of Think Mints®- our round, mint-flavored cookies with a delicious chocolaty coating- helps a girl learn money management. She handles money, keeps records, event tracks orders- activities that are essential to running a successful business. (girlscouts.org) Well, 13 year old Girl Scout Danielle Lei and her mom recently showed us all a thing or two about American capitalism when they had some Tag-A-Longs® and other Girl Scout flavors in tow for sale at a San Francisco medical marijuana clinic.
We can all learn a thing or two about business from Danielle Lei. Talk about the notion of free enterprise. Danielle typically sold her Girl Scout cookies outside of a Safeway, but wither mom’s approval they set up shop in front of the Green Cross which is a medical marijuana clinic in San Francisco. What happens when supply meets demand? Within two hours on President’s Day, Danielle sold a whopping 117 boxes of Girl Scout cookies in a mere two hours.
In addition to the tremendous sales, the girl’s mom Carol was able to teach her daughter some social lessons about some use marijuana for medical purposes rather than recreational use. As with most new business ventures in life, owning a business teaches you a lot more than how to make money. You often learn about your inner character, how other people handles themselves in business dealings, and the various social behaviors in life.
Of course the Green Cross was aboard to allow Danielle to set up shop outside the medicinal marijuana clinic. This simple lesson should teach us all a little bit about the three keys to starting up a new retail type business:
- Location, Location, Location (nothing beats being in the right place at the right time)
- Have the right value proposition (tasty cookies for those who may be in the market looking for a tasty snack)
- Take calculated risk (if your price is right and you take smart chances, you can have a huge payoff)
You might learn one more bit about Girl Scout capitalism by seeing how intense this story was covered by media. One website had almost 50,000 shares of the Girl Scout article. Who says capitalism is dead? Certainly not the Girl Scouts!
oXYGen Financial, Inc. co-CEO Ted Jenkin is one of the foremost knowledgeable professionals in giving financial advice to the X and Y Generation.
TED JENKIN IS SECURITIES LICENSED THROUGH INVESTACORP, INC. A REGISTERED BROKER/DEALER MEMBER FINRA, SIPC. ADVISORY SERVICES OFFERED THROUGH INVESTACORP ADVISORY SERVICES, INC. A SEC REGISTERED INVESTMENT ADVISORY FIRM. Linked sites are strictly provided as a courtesy. Investacorp, Inc., and its affiliates, do not guarantee, approve nor endorse the information or products available at these sites nor do links indicate any association with or endorsement of the linked sites by Investacorp, Inc. and its affiliates.