This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2022/10/eo-members-share-9-lessons-learned-from-childhood-entrepreneurship/
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Contributed by Kym Huynh, an EO Melbourne member, EO Global Communications Committee member, and co-founder of WeTeachMe. Kym is fascinated by entrepreneurs and their journeys, so he asked EO members from various chapters to share their experiences. Read his earlier posts on what EO members wish non-entrepreneurs knew about entrepreneurs, how EO members define success, the impact of core values, lessons learned from their best and worst partnerships and the best advice they’ve ever received.
A different perspective can uncover value and opportunity
My first entrepreneurial venture happened during childhood when my mom used to take us skiing in the United States. On these trips, I purchased baseball caps to bring back to Canada. I learned that I could sell them for the same price that I bought them, but thanks to the US/Canadian exchange rate at the time, I would make a 30% profit. That was my first lesson in arbitrage.
On reflection, the key lessons I learned from that venture are:
Sometimes, one needs to look at opportunities from different perspectives to uncover value and opportunity.There are advantages in providing products to people that they cannot normally find for themselves.Store your inventory in a safe place—a hard lesson I learned when my dog stumbled upon my baseball hat collection and bit the tops off all of them.
— Ron Lovett, EO Atlantic Canada, founder of Connolly Owens and VIDA, author of Outrageous Empowerment
Success doesn’t come by choice—it comes when we have NO choice
I was 14 years old, and my first entrepreneurial project involved selling cookies, that my mum baked, at school. Years earlier, my parents had separated, and the income that dad supported us with was never enough. So I told my mum that I wanted to help.
Selling cookies in school wasn’t easy. My friends didn’t have enough money to buy an entire box, so my teacher… Read More
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