Earning lesson one

Earning 101

Finding the earning potential !

This starts the story of Clarissa, who has always wanted to start taking painting lessons!

Sadly, her parents just can’t afford it every month. But, after the conversation she had with her cousin Thandeka, she had a new belief in herself to make it happen.

Clarissa really enjoyed hearing about how Thandeka managed to save up for her cool keyboard, but thought she could take the way Thandeka was earning money to another level. She thought if she can make more money, then it would be quicker and easier than simply saving up money.

The logic is certainly there, but comes with a lot of hard work and dedication!

Start at home?

So, to start off her journey, Clarissa went to seek some wisdom from her uncle Duke, who had his own businesses, and was always a hard worker. When she got to her uncle’s house, she sat down and explained what she really wanted and asked how she could make it happen on her own.

Uncle Duke started off by saying how proud he was that she was willing to try and make things happen all by herself, and that he was happy to help give her advice. He started with a saying that he always lives by, “The best time to plant a tree was 20 years ago, the second best time is now.” These lessons you will learn over the next few months will help you develop healthy money habits that will carry over into adulthood.

If you start now, at a young age, while you have less responsibilities, then you can afford to make mistakes and learn from them.

The action plan !

He got an exam pad and pen for Clarissa to take notes, and then Uncle Duke went on to explain, “Your starting point is to first do research.”

What problem can I solve? What need can I satisfy?
Who is this problem affecting and how are they affected by this problem/need?
Figure out how much the affected person/people would pay for the solution.
Research who are your competitors, what do they offer, and then start thinking about how you can make your offering different.
Look at what resources you will need to offer your solution.
Start with whatever resources you already have available for free.
Then add in what may need to be bought.

Uncle Duke then explained, “Once you have found a solution that you think you could do, ask yourself if you have the skills to do it correctly? If not, a good place to learn anything is on YouTube, or get a family member or a friend to teach you, or pick up a book at your local library. It would be even better if this was something you were passionate about. Passion is everything – your love for something is expressed through what you produce/make”.

Next step is to test your solution on a small scale, create a simple solution or product, and then ask customers for feedback. This feedback will help you improve what you are offering.

Simple options include: A car wash, carpet cleaning, grocery help, cooking, baking, sneaker cleaning, garden work, etc. (Chores and pocket money are only an option for some parents).

What happens next?

Continue with your lesson to find out what happens with Clarissa …