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Millionaire Kids Ezine, Issue #021 - How a 12 Year Old Became the CEO of Her Own Company
November 24, 2008
LeAnna Archer is No Ordinary 13 Year Old
Ever since a young age, LeAnna's mother would put a pomade on her thick, black hair to make it shiny and smooth.
The special home-made hair pomade was created by her great grandmother and it was made up of avocado, almond, hibiscus, and rosemary oils.
Many of her friends, and even strangers, would compliment her on how beautiful her hair was.
As she got older, it became obvious that the compliments she was receiving from strangers about her lucious locks had something to do with the pomade.
The more she thought about it; the more it became obvious that selling her grandmother's recipe might be a good idea.
But she had to find a way to...
"Sell" Her Parents on the IdeaWhen LeAnna first brought up the idea of starting her own business of selling her grandmother's hair pomade to her parents...
Their response was, "it's a great idea but we don't have time or the knowledge about running a business."
You see, her parents immigrated to the United States from the Carribbean so they were unsure about how to start a business.
Let alone the fact that LeAnna was only 9 years old at the time!
They gave her the advice to "wait until she got older".
Sounds reasonable, right?
But LeAnna wasn't about to wait...or give up. She was convinced that anyone using this recipe would get the same beautiful hair results that she was.
So LeAnna Decided to Do an ExperimentEvery time her grandmother made a batch of the hair pomade, she would take samples in a Gerber baby food jar to sell to her friends.
And sure enough, all of her friends loved it! Her strategy worked almost immediately.
She started getting phone calls and people sending checks for larger amounts of the pomade.
Now, LeAnna had enough ammunition to...
Convince Her Parents to Take Her Business Idea SeriouslyOnce LeAnna's parents realized that LeAnna was already selling the hair pomade...
And that she had already researched on the internet how to obtain a business license and a business tax ID...
they were so impressed that the first question out of their mouth was..."What are we going to call this company"?
Of course, the business girl that LeAnna is, she had her answer ready...
LeAnna's Hair !And so LeAnna's hair company was born...at the tender age of 9 years old!
In June of 2005, Leanna’s Inc. was created and started selling Hair and Body products such as:
Hair Dressing with Shea Butter
Hair Oil Treatment
Shampoo, Conditioner, & Deep Conditioner
Moisturizing Hair Mist
Pure Shea Butter for the skin
Scented Hand and Body lotions
French Green Clay Mask
Scented Dead Sea Salts
Her products can be used on any types of hair...no matter what your ethnic background is.
Pretty impressive for a now 13 year old!
It's a Family AffairLeAnna would have never been able to get her business off the ground without the loving support of her parents.
And she still relies on her family for help!
While LeAnna focuses on doing research to improve her current products and create new ones...
Her father, mother, and brothers help the packing and shipping of her products all over the US and beyond.
Could This Be the Next Mary Kay for Kids?LeAnna also offers an opportunity for your kids to make money just like she does by becoming a representatives for her products.
And you can start with NO MONEY at all.
How? Very Simple.
Leanna's Inc. will send you pamphlets, flyers, and magazine articles for you and your child to go to beauty salons and introduce them to Leanna's products.
You would also receive order forms. You would let the salons know that your child is representing 12 year old Leanna Archer from Leanna's Inc.
Once a beauty salon or an individual decides to purchase Leanna's products from your child, you would take the order, Email it, Fax it or Mail it to LeAnna's Hair, and just like a Mary Kay representative, your child would earn a PROFIT.
And even better...every time that salon or individual makes a purchase, your child earns a commission.
You could even have Leanna Hair Care home parties! Just like Mary Kay parties.
If your daughter is interested in hair and in making some extra cash, this is a simple way to do it with ready-made, great products!
My daughter Maria is considering giving it a try!
So make sure to listen to your kids when they come to you with their business ideas. It just might be a Winner!
How Kids Can Make A Little CashI recently came across another paid survey site for kids as young as 13 years old...that pays out even more than popular Cash Crate!
13 year olds can sign up with your parental permission.
Plus, they pay you an intant $5 dollars just for signing up.
And of course, there is no fee to sign up. And you don't have to spend a dime or need a credit card to start making money right away.
I tested it out, and made a quick $12 dollars the very first day.
Not bad for 15 minutes work?!
Have your kids try it out for themselves.
TIP: You can only have one account per household with one user.
Profitable Investment Idea:There was an article in the New York Post last week about Governments Can't Handle World Wide Run on Gold Coins.
You see, as economies around the world are being shaken to the core, people want to hold gold as insurance against inflation.
So if you haven't considered buying gold coins, right now may be the perfect time.
My kids own the Saint Gaudens MS63 which are currently $1,310 per coin. It's the best gold coin play right now for under $1,500.
A coin dealer I trust 100% is Van Simmons at David Hall Rare Coins.
If you want more information on available gold coins, you can give him a call at (800) 759-7575 or (949) 567-1325. Or you can get more info about gold coins HERE...
Random Acts of TithingMost kids are made of sugar and spice...but some kids can really be MEAN.
Once a week, I go and have lunch with my little sister (through the Big Brother/Big Sister organization) at her school.
And for the past month...
Every time I visit...
There's a 9 year old little girl who is crying because of teasing by the other kids.
She's a little overweight and the kids tell her she's fat or even worse - they completely ignore her.
Like she's invisible.
She's usually sitting alone or if she is sitting with the other kids, no one really talks to her.
I've made it my mission to talk to her and have her sit by me and my little sister each week.
Please, please, please, talk to your kids about being kind to one another.
Especially to kids at school or on the playground who may be a little overweight.
It really breaks my heart to see this girl so visibly upset every time I visit.
My oldest daughter Rachel struggled with her weight when she was young...so I know First Hand how much it hurts.
It's Good to Know...Financial Terms For Kids1) A step-by-step plan for a business
2) Minimum age to become a CEO of a company
3) An investment hedge against a recession and inflation (what you should consider investing in during a recession)
Answers: Business Plan, There is no minimum age!, Gold coins
Cheap Family FunBasketball season is upon us!
Sweaty uniforms, high topped basketball shoes, and getting sore bleacher butts!
We have three kids all in basket ball...so that means for the next 3 months...we're going to be gym rats...that is...living in the gym.
But I love watching and cheering my kids on.
And it's CHEAP family fun!
So until next month...
Have a blessed December and a Happy Thanksgiving to all my US readers...
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