Monday, September 13, 2010

A Business That's Sticking

Entrepreneurship is a turn on. It combines all good things -- creativity, ambition, skill, and yes...MONEY. When this business sense is discovered in a particularly young person, it is fascinating and of course ridiculously cute.

I have my eye on entrepreneur Benjamin Posner. Ben, an eleven year old sixth grader, was given a duct tape wallet as a present. He thought it was so cool that he made it his business to find out how it was constructed. He went no farther than You Tube, and Ben is a fast learner.

He bought a stash of tape at Walgreens and replenishes rolls as needed. His well-edited collections of tape includes zebra, a dreamy tie dye, red, turquoise, and of course classic black and white. He manufactures by hand at the dining room table. Jeremie, his nine year old bro, can apprentice as needed.

If Ben works uninterrupted, he can make a billfold in under an hour. There are 4 basic styles in his line and prices range from $1-$4. One dollar gets you a solid coin purse and $4 gets a 3 color, 4 pocket billfold. Shipping is extra.

I found that the $3 three-pocket style suited my needs. Slim enough to fit into a pants pocket and sleek enough to tuck into an evening clutch, Ben's duct tape wallets are as sporty as they are chic. And speaking of sports, once Ben gets his hands on some more neon orange tape, he'll be cranking out wallets in that killa Miami Dolphins color combo in no time.

Like any responsible entrepreneur, Ben is tracking his expenses and earnings. He keeps records on a computerized spreadsheet and also in a pink composition book. To date he has spent $43 on duct tape. He has filled many orders and has 12 waiting. Ben's first goal is to net $50.

He is intent on reaching that goal by the end of the year. On a recent phone interview Ben confided that lots of people frame their goals in yearly units, so it seems like a good idea. Ben has a five year plan which includes a car. And if his business takes off, he'd like to start banking some funds for college too.

Da buck don't stop there! "I'm a big guy on helping," Ben adds, disclosing the charitable component to his plan. "I have a soft spot for oceans, animals, the sky -- earth charities." Ben has always shown great compassion where it is needed. On his recent launch, the places he is aiming for, and on who he has always been,his mom puts it simply. "Beyond proud!"

Interested shoppers can inquire through me.