Entrepreneurs In Training – A Future For America - with Lynee Fife – [Ep. 226]

Linda J Hansen: Welcome. Thank you for tuning in to this episode of the Prosperity 101® Breakroom Economics Podcast. My name is Linda J. Hansen, your host and the author of Prosperity 101® Job Security Through Business Prosperity: The Essential Guide to Understanding How Policy Affects Your Paycheck, and the creator of the Breakroom Economics online course.

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If you are listening to this as a business owner, you have clearly been bitten by the entrepreneur bug. If you are not an entrepreneur, my guess is that you have at least some point in your life thought about starting your own business. Entrepreneurship drives the economy as business ideas blossom into profitable companies, which can then provide jobs for people of all ages and taxes to contribute to the national economy.

While I believe basic business and entrepreneurship skills should be taught in schools, the fact is that they have been sorely missing from most curriculums for decades. Add to that, the fact that overzealous governments have often regulated simple things like neighborhood lemonade stands, and we have a problem.

So how can we train and cultivate the business leaders of tomorrow? Enter the Children's Entrepreneur Market, an award-winning program that teaches young people about the power of entrepreneurship, innovation, and leadership through experiential learning. The market started in Utah and sold out for five years straight, helping nearly 10,000 kids before expanding to 24 additional states.

Their mission is to develop vibrant and resourceful children through entrepreneurship that creates momentum in their personal, educational, work, and community life. My guest today is Lynee Fife, Director of the Children's Entrepreneur Market. Lynee works to bring this hands-on business experience to thousands of children across the country.

There are now nearly 270 Children's Entrepreneur Markets, all providing opportunities for children to learn valuable skills that will serve them throughout their lives. Lynee, thank you for joining with me today. Please tell the listeners a little more about yourself and how you became involved with Children's Entrepreneur Market.

Lynee Fife: Thank you so much for having me, Linda. I was just a mom raising my four kids and helping them with their businesses. They all have their own business. And someone told me about this kid's market. And so my two daughters who make caramel apples from scratch wanted to participate, and so we went–this was in 2017–we went and participated and they had an incredible experience. 

And so the next spring I saw that they were looking for someone to help run these. And so I applied, even before my husband got home from work, and started managing these since 2018, and it's just been an amazing experience. I really wanted to organize it a little bit better and had some ideas on how we could improve. And so it's just been wonderful to be a part of. 

Linda J Hansen: Well, that is really inspirational and it goes to show that moms can do so many things. And often a great idea begins with a mom who just wats to make things better for her kids.

And so, tell us a little bit more about their caramel apple business. What happened with that? And are they doing anything else with their entrepreneurship skills. 

Lynee Fife: So it started, we just wanted to learn how to make caramel apples as a family. And so we started, trying different recipes and failed many times. Caramel is very, finicky. But once we got it down, the girls thought, you know, I wonder if we could sell this to the neighbors, like for Christmas gifts for co-workers and that sort of thing. 

So we just threw it on Facebook, and it just went by itself. And so they were still younger at the time. And so I would make the caramel, but they would dip it and bag it and label it and do all this social media. And then as soon as they were old enough, you know, they've completely taken over making the caramel. It's been so long. I can't even remember how to make the caramel now. 

But they've really made some serious money, doing that. You know, they sold down at the Little League football fields every Saturday, you know, for six hours to the crowds coming and going, and they've done little, you know, fairs here and there.

Mostly they just love to do it and they loved the money and they've used it to, you know, save up for college and they're both serious tennis players. And so they helped to pay for their tennis training. So not something that they will probably continue to pursue. But they still do it around the holidays and any kind of gift-giving time, just to support their hobbies.

Linda J Hansen: And that's a wonderful experience for them. How old were they when they started? 

Lynee Fife: Oh, my goodness. I bet they were 12 and 9. 

Linda J Hansen: And so how old are they now? 

Lynee Fife: They are now 20 and 17. 

Linda J Hansen: Okay, perfect. That's just great. Well, you know, the skills that they learn there will take them throughout their life. And I know I, as listeners know, I have six kids who are all grown.

And many years ago, we had road construction in front of our house. We actually lived out in the country and they were going to come and park all of their road machinery i part of our land. And I thought it's hot. It's summer. They are going to be thirsty and hungry. And so these kids, it was great. We built the lemonade stand. We sold lemonade. 

I say we, they, I mean, I helped them cause they were very young when we started, but then even the littlest ones got involved and had lemonade, coffee, chocolate chip cookies, and popcorn. And we sold that all summer long, made great friends with the, you know, road workers.

And they had their plans for what they wanted to do with their money. One wanted to buy like a new stereo, I can't remember a Walkman or something. I think they'd come out back then. And then one wanted music, additional music lessons, because she was already playing several instruments and wanted more.

And, you know, they just had different things that they wanted to do with it, but it was a great experience. And now actually some of them have had their kids do lemonade stands and things, but that it's just such a great experience and it teaches them. 

We even had shifts. You know, we had a schedule, they had to work the shifts. And if they didn't work their shifts, they had to make sure that somebody filled in for them, whether it was them or a friend. Whatever it was, we made sure, you know, what were the hours of operation. They were open Monday through Friday from some days. And it was just such a great experience.

And I think this is so important. And I think in this particular environment, so many kids just spend their time on their phones. They don't spend their time really doing these actual learning activities where they're getting to know how to deal with people, how to deal with cash, how to deal with, you know, problems and solving problems, and even the logistics of doing it all.

It's just such important lessons that they learn. But you know, we had a lemonade. And your kids sold caramel apples. And I know that Big Government has often had something to say about all of that. So how would you say Children's Entrepreneur Markets are helping to open up the way for more entrepreneurship for young people and protecting them against these ridiculous regulations that say they can't have a neighborhood lemonade stand? 

Lynee Fife: Right. Well, one way is, you know, people don't really see it as an issue until they see it as an issue. And so, what we do is bring the markets to major metros.

We hire a manager and train them and they look for events. That they can partner with to hold the market. And all of a sudden, the city becomes aware that there is a Children's Market selling things that they haven't approved of necessarily. And so, sometimes that brings out some questions of, you know, do the kids have food handler’s permits? Are they paying taxes? You know, do they have the correct licenses? 

For the most part, venues are not asking those questions. I would say, overall, they mostly leave the kids alone. They understand that this is–they’re lemonade stands, just because they're in a group. You know, it doesn't really change the fact that they’re lemonade stands.

But occasionally we will have some pushback from cities and we just had an experience with this in Arizona. And because it became an issue, we were able to get a senator on board and help pass a bill that has now been signed by the governor this year in Arizona that protects kids from having to get expensive permits or licenses to run a business.

And so we kind of have to bring the issue, you know, there for them to know that sometimes there are silly, you know, rules for kids. And so that we had one of our kids go testify before a committee, talking about his business. And so that was really exciting. That's what we hope to do around the country.

Linda J Hansen: Well, this is something that is really near and dear to my heart because not only are they learning entrepreneurship skills, but they're learning how to be better citizens. They're learning how the system works and they are learning how to make their voice count. And that is something I'm talking about all the time.

You know, elections have consequences. Policy matters. It matters who's elected, and it's up to the citizens to make sure their voice is heard. And teaching these young people how to go and, testify in hearings or how to present their information, that is such an important lesson. And it helps them not only understand that for themselves, you know, confidence building for themselves, but it helps them to understand how our government actually works and what the levels of government.

You know, we have the three branches and what the different roles are for the different departments and things. It's just so important and it's not really something that's taught in school, not as often. And so, in which cities are you located now? You may not be able to list them all, but maybe you can list the states.

Lynee Fife: There's too many to list. But just two years ago, we were only in Utah. And by, in two months, we will be operating 40 metros in 24 states. 

Linda J Hansen: That's just incredible. I just think that that's just amazing growth. And that goes to show that this is a great idea, you know. And so I know that as you're looking to grow, you are looking for people to help manage the markets and to help guide these young people.

Oh, what type of role is this? And if people would like to apply, how would they do so? 

Lynee Fife: Yes, we need lots of managers to manage this. So it's a part-time role, very flexible. It averages about 10 hours a week and we need that local person who knows the surrounding cities and the businesses that we can partner with to hold these markets.

And so, they can go to our website, ChildrensEntrepreneurMarket.com. We have a page called, I think, Join Our Team and they can see what jobs are currently open. And in about a month or so, we'll be opening about 10 more job postings. So we're going as fast as we can to bring this to as many kids as we can.

Linda J Hansen: Right. That is exciting. And I think, listeners, if you are thinking that you would like to help children grow in their entrepreneurship skills and help train the next leaders of tomorrow, please go to the website. What is the website, Lynee? 

Lynee Fife: ChildrensEntrepreneurMarket.com.

Linda J Hansen: Okay, well, that's pretty easy. listeners. So you can go to that website and learn more. But also as business leaders or as business owners, there's more that you can do. You could sponsor a market, you could help to sponsor kids.

Maybe you could offer to mentor some of these kids or offer some training for them. Maybe if you're a graphic design company, you could donate some graphic design so that they could have marketing materials.

There's so many things that we can do as business leaders to help them and if you are, you know, just anybody, you know, maybe you are a truck driver and you are able to help them understand how logistics works, and if they would grow their business, what they'd need to do? I mean, there's just so many things that go into running a business that is important.

And I think that anybody listening, whether you're an employer or an employee, you know, you can help mentor and train these young people. So, for business owners, what types of sponsorships are available? 

Lynee Fife: We have nationwide sponsorships statewide or metro-wide, or even single event sponsorships. So we do have a sponsor page on our website. They can contact us through there. And then we can talk through the logistics of what they're looking for and what we're looking for. And we could use all the help we can get. 

Linda J Hansen: What do you find are the most successful business ideas that these young people have come up with so far?

Lynee Fife: Oh, my goodness. We see everything. We see jewelry, baked goods, plants, face painting, 3D printed items. Some booths have carnival games and of course, lemonade. 

But the, something I just saw for the very first time in my seven years, we had a young boy about 8 years old, and he was going around the market, interviewing other kid entrepreneurs, and then he was selling the interview back to the parent. And he said, “Well, this is so you can remember your child forever.” And it was the most darling thing. Yeah. That's what he sold. It was awesome. 

Linda J Hansen: That's great. Well, and I know one of my grandchildren is very entrepreneur-minded. He's very entrepreneurial and he has sold everything from lemonade to, saved up money, and then he told me how he was getting an Amazon card, like a card, so that he could invest back into his business for more equipment.

I mean, he was just, it was just great. And they've sold snow cones and they, I forget what else. And then now last time I was there, they were making little soaps, and selling them for a dollar. And, it was just great. They keep coming up with new things. 

Now also, he went and offered to trim bushes in the neighborhood. And so they could, you know, offer their services. And of course, you know, for parents and, the managers, you have to be really careful about where the kids go outside the market. Of course, if they're offering any kind of service, we want to make sure all the children are protected and well-supervised. 

But, you know, it just shows the innovative ideas that kids can come up with. And, you know, once you get their entrepreneur ideas going, you know, it's just an open book for them. I mean, it's just, Oh, I could sell this. I could sell that. I could do this.

Another, two of my other grandkids, they have a little food stand at a music studio in the area and they have, they buy little snacks and they have a little thing. And there's a, they can Venmo. They have a Venmo account where people can just Venmo them to buy the snacks and things.

So, you know, it's just a great way for kids to learn how to earn money, and then how to budget that money for the next thing. Another thing that they have done, and maybe there's some parents who would think that this would be fun to do with their kids, but at Easter time, they have offered to hide eggs.

And so they have gone and they will do like, depending on how big the yard is or how many kids they're doing it for, whether it's a big party or whether it's, you know, just as a family, but they've offered to go do all the, you know, fill the eggs with candy, do it all. And then they've budgeted out their money.

And so, I mean, it's just a great idea. You know, yeah, it is. And so there's so many ways that kids can do this. And as business owner, you know, I'm sure there's listeners now thinking this podcast doesn't really apply to me. I'm not a business owner. I'm not a parent. I'm not a grandparent. How does this apply to me?

Well, it does apply to you because every time we help a healthy business to thrive in America, we are helping every community. We're helping our nation and we are helping that next generation. So not only do they help raise the economic levels, you know, for people, but they help to become active citizens. And isn't that more what we need? 

Lynee Fife: Right. And I love the thing about our markets is that these are authentic transactions with real products, real customers, real money. This is not grandma and grandpa coming to buy all the painted rocks. And so our kids are getting real feedback in real-time about their product.

And that's also how we can help them is, you know, by, you know, when we show them, yes, I do like this, or this may have been fun to make, but it may not be what people want to buy. 

Linda J Hansen: Right. 

Lynee Fife: You know? And so we help them learn all these lessons and I love seeing kids pivot then. You know, they'll come out to a market and they'll try something, but then they'll see what all the other kids are doing.

And there's a lot of, you know, mentoring going on and kind of positive peer pressure without the kids realizing it when they see other kids standing up and greeting the customers and giving their sales pitch. And then it gives other children courage to do the same and kind of come out of their shell. So it's really fun to watch them grow even within one market. 

Linda J Hansen: Exactly. And on-the-job training. Right?

Lynee Fife: Absolutely.

Linda J Hansen: It’s definitely, and to have these examples of these other kids doing it and I love that you mentioned about pivoting. How often as entrepreneurs do we have to pivot? Like daily, weekly, monthly, yearly, you know.

Lynee Fife: There’s one family who's been with us now since the beginning, the Alvarez's, they have three children. You know, Abigail is 13 is on the grill. Isabel is 11. She's fulfilling the orders and Matthew's 9. He's up front taking the orders.

And I've watched their business grow over the years and watch them become more efficient and more profitable. There's always a line at their booth. They recently won a scholarship from us and they told me that they were going to use the money to buy new wagons to haul all their stuff in and out. But yeah, I've watched them make those changes and just hone their skills over the years.

Linda J Hansen: You know, it's true. And those pivots that they take, you know, really can help them build confidence and their people skills, as well as just, you know, other learning skills. One of my daughters, the one who actually has the music studio where the grandkids, I should have mentioned that before, but it's actually her music studio that she owns.

So she's an entrepreneur and then her kids have this you know, food stand in their little house that has all these different food things and the kids get Venmoed for their packages. But when she was like 8 or 9, she was the musical one that always wanted more music lessons, you see how it came out? She owns a music studio. 

But, she wanted to play like a fifth instrument or something. Well, we had six kids. I mean, you can only pay for so many music lessons, right? For each child. And we were paying for, you know, music lessons for everybody. But she wanted extra. And so I said, well, let's figure out a business.

So when she was, I think, 9, she started making little fabric wreaths and Christmas ornaments and all kinds of little fabric things. And she sold them in gift stores and little flower shops, and all kinds of places. And it funded that instrument, that extra instrument, that she wanted to learn. It funded those lessons and buying the instrument. 

And so, you know, she helped, we, of course, bought the instrument, but she helped to pay for it and help pay for her lessons, and what a great experience. But then she went on, you know, and she was working at 14, and she always had some other thing going on. I mean, it just teaches them the value of work as well. And she's been an entrepreneur her whole life and now her kids are.

And all of our kids are very entrepreneurial, and now it's great to see the grandkids. So, you know, this is great, too, because it also, sets them up to have the confidence to know that they can make a way. You know, I think in today's society, so many young people have bought into the victim mentality, you know, the entitled mentality, like I'm entitled. I, you know, government should pay my way, right? 

Well, what a beautiful thing we have in America or have always had that we need to protect, which is the freedom to pursue the American dream and to pursue this pursuit of happiness. And if being an entrepreneur is something that, you know, allows us to use our talents and be creative about providing for ourselves and our families, what a beautiful thing for us to cultivate.

So, do you have any other closing comments or things you'd like to share with people before we give them your information again so they can be involved with the markets? 

Lynee Fife: Yeah. Thank you. A couple of things that make our program a little different that people may not realize is, one, is that we do partner with established events that have a ton of foot traffic.

And so we want to bring the kids hundreds of potential transactions and that makes the learning tenfold and then just makes it a blast when they're selling that much. Another thing is we do not let the parents do any of the work at the market. So we're very strict about this rule. Of course, they help at home and they help set up, but once the market begins, we really want it run by the child.

And so we tell the parents we want you to guide your child, but we don't let the parents interact directly with the customer. And so the kids have to know the sales pitch and handle the money, and fulfill the order. So, that really takes the stress off the parents, but really makes it about the children.

And then we, our hope is to bring numerous markets to every metro. So once families have participated and put in all that work and made the investment, they will have numerous opportunities to participate in other markets, and continue to hone those skills. And, you know, that's what makes it fun is doing it over and over again and getting better and better at it.

Linda J Hansen: Well, I like it that kids can grow in the role, too. So how old do they have to be to start in the markets? 

Lynee Fife: It's basically all minors. We say 5 to 17, but basically if your child can do run the market, they can do it. I have had a 5-year-old sell me soap I didn't know I needed. Because they have the courage to talk to the adults and their parents have, you know, role played with them on giving change and they had a little chart of money taped to the table so they knew how to get. So that's really the criteria is if the child can do it, they can come participate. 

Linda J Hansen: And that is really great. I think it's just a wonderful thing. And you have them interacting with all ages. This is another thing like, my listeners know that I homeschooled and part of the thing I loved about homeschooling and this type of market is that it teaches young people to interact with all ages. 

You know, as we look at, uh, traditional schooling in our country, you know, when are we only with people who are, you know, 9 to 12 months apart from our birthday. You know, like when is it on a given day that as adults, that's our only interactions. You know, so it's important.

It's preparation for adulthood and preparation for being able to interact with people of all ages, and that is so important. It's a gift we give children when we do that. We help them understand that there's so much more to life than their peer group, and we help them to have confidence, because sometimes their peer group isn't their confidence builder. And when we can help them see that, “Wow, there's adults or there's older kids who are cheering me on,” or something, I mean, it can really help them.

So, I just am really grateful that Children's Entrepreneur Market is out there doing this. I think this is great for children and families, and for our nation. And so, listeners, if you are a business owner, or if you are an employee, a parent, a grandparent, you know, whoever you are, please go to the website, ChildrensEntrepreneurMarket.com and learn more about it. And if people want to contact you specifically, Lynee, what should they do? 

Lynee Fife: They can contact me through the website also. There's a contact form and they could just fill that out, say they want to talk to me and I'd love to hear from them. 

Linda J Hansen: Well, I thank you so much for taking the time for this episode. And I hope that some of the listeners will get involved with the markets. It's just an exciting opportunity for young people and families to be involved in entrepreneurship and building the next generation of leaders. So, thank you so much. 

Lynee Fife: Thank you, Linda.

Linda J Hansen: Thank you again for listening to the Prosperity 101® podcast. If you enjoyed this episode, please subscribe, share, and leave a great review. Don't forget to visit Prosperity101.com to access the entire podcast library, to order my newest book, Job Security Through Business Prosperity: The Essential Guide to Understanding How Policy Affects Your Paycheck, or to enroll you or your employees in the Breakroom Economics online course.

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