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Millionaire Kids Ezine, Issue #008 -- How to Raise Your Daughter Can Make As Much Money as Oprah
August 17, 2007

How would you like your daughter to make as much money as Oprah?

It isn’t that some girls are smarter than others…or more talented…or even more dedicated. And it isn’t that one person wants to succeed and the other doesn’t.

So what's the secret to Oprah's amazing success in business?

I call it "girl power".

My dad used to always tell me that "being a girl is NOT an excuse...you can do anything you want to in life...IF you work hard."

And there's no other woman who works as hard as Oprah in her business.

My Dad Was My Biggest Supporter When...

I first became an entrepreneur at 10 years old.

Would you believe I was the youngest president of a corporation in the United States? Yep, I was. And I have the newspaper article in the St. Paul Pioneer Press to prove it.

The name of my corporation was Sonja's Ideas, Inc and I was trying to sell Genuine Imitation Martian Soil.

Catchy name,isn't it?

I was convinced that it would be more successful than the million dollar Pet Rock!

But my friends and classmates teased me non-stop and made jokes about me being "a martian" and from "outer weird space".

The Fatal Mistake That Hundreds of Thousands of Budding Entrepreneurs Make

When things got tough, I got scared and quit.

But deep down, I knew I wasn't a quitter. And I vowed to never quit again - no matter what.

Why Do Women Still Make 30% LESS Than Men?

In study after study, girls do better academically in school...yet they still aren't as successful as men in the business world. Except for Oprah.

And the burning question is WHY? What are our girls missing?

For the first time in history, more girls are graduating from college. Young women know it's possible to make as much money as a men...yet they're still making 30% less.

So what can we as parents do to help secure our daughters future as women in business?

First of all, we can encourage them to think "outside the box"...and let them solve their OWN problems. In school, kids are taught that for every question, there is one right answer.

But that's NOT real life.

I always tell my four kids "There's many ways to skin a cat".

And no, I'm not a cat hater!

I'm simply trying to encourage them to be creative in coming up with solutions to their problems.

There's almost always MANY solutions to a problem. You just have to decide which one is best.

And even more important, let them solve their OWN problems.

This is how it works in the real business world.

Confrontations Can Be a Good Thing

Secondly, confrontation is good.

Often times, girls get the message that they're not "supposed" to be aggressive. And of course, girls are naturally more nurturing - it's basic instinct.

But the reality is, problems are solved with confrontation.

Not everyone you work with will see things your way...and might even try to sabotage your efforts...and relying on a sweet smile won't get you very far.

As parents, we need to help our daughters be good at confrontations...without being bullies...in order to get their opinion heard and also to get to where they want to be in business.

And Lastly...

Make sure your daughters are knowledgeable about such issues as politics, the economy, and MONEY.

I don't know how many times I've shocked people when I've commented on the commodities market...interest rates...real estate prices...or the new Speaker of the House.

These are typically topics for the men.

If you raise your daughters to "think outside the box" to solve their own problems...help them to be good at confrontation when necessary...and talk to them about world issues...they WILL be successful leaders and entrepreneurs in business.

Just like Oprah.

Remember, you have way more influence on your daughters' than the media - and they will listen.

Why not encourage your entrepreneur daughter to start her own business?

Random Acts of Tithing

A fun way to help out is to volunteer to be a dog walker at your local humane society.

This would be a perfect "date" for you and your young kids to do together - provided you're not allergic to the furry friend?!

Profitable Home Business Idea:

I just paid $150 dollars to have 2 rugs cleaned...and it only took the carpet cleaner 1 hour!

There is a LOT of money to be made in carpet cleaning...for your 16+ year old.

Even if you don't own a carpet cleaner, you can rent one at a reasonable rate...or look around for a used one.

Put up an ad on the local bulletin board or run a small space ad in you local newspaper and be ready to clean rugs. You could also offer upholstery cleaning if you have the extra attachment.

You can easily charge $150 to $300 a room for carpet cleaning.

Pretty good money for a couple hours of work! For more profitable niche business ideas, check this website...

Fast Ways For Little Kids to Make Extra Cash

Here are 3 Quick Ways to Make Some Cash With Dogs:

1) Make up some cool "doggie" collars and sell them to pet owners door to door - with Mom or an older sibling with you!

Ideas:

Wrap colorful fabric around inexpensive collars - make sure to have different sizes

Glue gems, buttons, etc on inexpensive collars

2) Offer to pick up doggie do-do for $10 a yard

3) Bake some doggie treats and sell to your friends and neighbors...especially Grandma and Grandpa!

It's Good to Know...Financial Terms For Kids

1) Debit Card - A card used to get cash automatically out of your checking account.

2) Real Estate Agent - Someone who sells your house for you for a fee.

3) Penalty or Late Charge - A fee (like $30) that a bank or credit card will charge if you pay your bill late.

Cheap Family Fun

Last week-end, we were supposed to go canoing and camping...but the river was way to low. It would have been more like canoe portaging than canoing!

So we had to do plan B. And since we are only a 3 hour drive from the largest water park in the WORLD...we decided to go to beautiful Wisconsin Dells.

But I was shocked when the hotel clerk told me the room for all 6 of us was $295 dollars...a night!

No thanks.

I checked the internet and found the perfect compromise. It was a small, family-run Bass Lake Campground a short 6 miles from Noah's Ark waterpark where we wanted to spend one day at.

You can check it out at www.basslakecampground.com

I booked a primitive cabin that slept 6 for $80 dollars a night and we bought day passes for the water park which were $203.

The log cabins were just the right size!

So I saved $200 dollars.

Plus, the kids got to swim in the pool, fish in the lake, and make s'mores around the campfire.

It was a great, inexpensive, family week-end getaway.

Oh, I forgot to mention the talented and funny magician at the campground!

Sounds kind of corny...but the kids loved it!

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