Young entrepreneur makes most of learning, earning opportunities
It has been said that the sign on the door of opportunity always reads "PUSH." For William Bauman, 8, of Grayslake that proverb speaks as well to the myriad little opportunities that line the road to success.
Though not even a decade old, Will's entrepreneurial spirit has already earned him the honor of top popcorn salesman within his Scout troop; he has a college scholarship started in his name by a joint effort between Trail's End and Boy Scouts of America, and he has even started his own business, "Kid Power," which did swift sales at last summer's Grayslake Farmers Market.
"He is definitely a born sales person," said his mom, Michelle, "and he is learning all sorts of skills in the process, from math to the more intangible things like 'rejection'."
Encouraged by both his mom and dad, Jeff Bauman, and working hard to serve as a good role model for siblings Ben, 4, and Madeline, 3, Will joined the Cub Scouts in first grade. There, despite his age, a natural knack for salesmanship was immediately discovered during the Scouts' annual popcorn drive where Will sold more than $3,000 worth of popcorn by himself.
Undaunted by occasional rejection, Will marched up and down the blocks selling to friends and strangers alike without ever considering that he might not succeed.
"I (would) ask people if they would like some popcorn," explained Will. "And if they said 'no' I'd say, 'that's OK. Have a great day anyway'."
Buoyed by his positive attitude and resulting success, Will's mom, a business owner for 12 years, presented Will with further opportunity to "have his own business" in the form of a booth at the Grayslake Farmers Market this past summer, a program offered through the Munchkin Market Entrepreneur Program.
Pam Navarre, president of the Grayslake Farmers Market, one of Chicago area's last all-volunteer markets, says the Munchkin Program has been running alongside the adult market for approximately five seasons as part of the young entrepreneurs initiative created to enable kids ages 5-12 to learn people skills, as well as to get them acculturated to the ways of commerce.
"Anything to get the kids to get out and try their salesmanship skills. We make them come with an adult from a safety perspective, but we require the kids to actually engage all the customers themselves," said Navarre who hopes this kind of one-on-one interaction will go a long way toward balancing the text-messaging and computer-orientation of today's youth.
The opportunity forced Will to deal with such things as the rental of his booth (25 cents per day), the concept of supply and demand and even overhead vs. profit.
"It really teaches kids responsibility at an early age," Michelle said.
Through Kid Power, Will sold balloon animals and tattoos, cookies and homemade items, all for 25 cents a pop, earning a solid $203 dollars. His goal for the task was admirable: To make enough money to take his family on a vacation.
"We don't go on that many vacations normally because it's not feasible for us financially," said his mom. Nevertheless, the earnings were enough to pay toward a trip to a Wisconsin water park for the family.
But beyond the accolades, financial gains and modest spoils, it is the basic life skills learned with enthusiasm and at a tender age that the Baumans value most for their son.
"We all are self-employed and believe that you're never too young to start learning how to make a business. I hope someday Will creates his own company and is successful with it," said his dad.