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Girl Scout Capitalism

Who’s got a case of the munchies? Purchasing a box of Thin Mints®- our round, mint-flavored cookies with a delicious chocolaty coating- helps a girl learn money management.  She handles money, keeps records, tracks orders- activities that are essential to running a successful business. (girlscouts.org) Well, 13 year old Girl Scout Danielle Lei and her mom recently showed us all a thing or two about American capitalism when they had some Tag-A-Longs® and other Girl Scout flavors in tow for sale at a San Francisco medical marijuana clinic.

We can all learn a thing or two about business from Danielle Lei.  Talk about the notion of free enterprise.   Danielle typically sold her Girl Scout cookies outside of a Safeway, but with her mom’s approval they set up shop in front of the Green Cross which is a medical marijuana clinic in San Francisco.  What happens when supply meets demand?  Within two hours on President’s Day, Danielle sold a whopping 117 boxes of Girl Scout cookies in a mere two hours.

In addition to the tremendous sales, the girl’s mom Carol was able to teach her daughter some social lessons about some use marijuana for medical purposes rather than recreational use.   As with most new business ventures in life, owning a business teaches you a lot more than how to make money.  You often learn about your inner character, how other people handles themselves in business dealings, and the various social behaviors in life.

Of course the Green Cross was aboard to allow Danielle to set up shop outside the medicinal marijuana clinic.    This simple lesson should teach us all a little bit about the three keys to starting up a new retail type business:

  1. Location, Location, Location (nothing beats being in the right place at the right time)
  2. Have the right value proposition (tasty cookies for those who may be in the market looking for a tasty snack)
  3. Take calculated risk (if your price is right and you take smart chances, you can have a huge payoff)

You might learn one more bit about Girl Scout capitalism by seeing how intense this story was covered by media.  One website had almost 50,000 shares of the Girl Scout article.   Who says capitalism is dead?  Certainly not the Girl Scouts!

Written by:
Ted Jenkin

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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

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Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

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