The definition of Entrepreneur

As long as I can remember I have always wanted to be an entrepreneur. I have had the definition of that word memorized since I was eight years old when I took out a loan from my uncle Jesse to start my first business: a Kool-Aid stand. Uncle Jesse’s only request for collateral was that I memorize the definition of the term “entrepreneur” from Webster’s Dictionary. Once I had fulfilled my end of the bargain, I was promptly given a no interest advance of $20. In 1988, this was a lot of money for a child. Along with the money, I was also given a place to set up shop at my uncle’s gas station on the corner of Clovis and Shaw.
I took my money and I stocked up on the raw materials I would need at the Long’s drugstore nearby. I purchased sugar, Kool-Aid packets, ice, and the kind of large Igloo cooler you see on the back of construction trucks. Having spent nearly $15, I was ready to start making a profit. I set up on the aisle between pumps 5 and 7 where I sold my product out of 6 ounce Styrofoam cups for a nickel a pop. My debut as an entrepreneur was a huge success! Over the period of a little over 5 hours, I sold close to 250 units for a grand total of $13. “My god,” I thought, “what would I spend the money on? A football? Or how about 30 packs of baseball cards? That would be sure to get me at least a few Jose Cansecos.” The possibilities were endless in my eight year old mind.
When it came time to close up shop, I excitedly told my uncle about all the money I had made. He had me do some accounting by stacking all of the money I made on the cash register’s counter. He explained that $5 left over from the initial $20 loan with the $13 in revenue earned that day made for a whopping total of $18. Uncle Jesse then reminded me that the $20 in seed money was a loan, not a gift. And then it hit me; minus financing, my total came out to -$2. When my uncle prompted me for the $2 dollars that was owed to him, I gave him my best sad eyes and asked him if I could owe him. He said there was no need. He would gladly just keep the Igloo cooler and we would be square. As he pocketed all of the money I made that day, I realized that he took the risk on a kid and got a $6 cooler for only $2 dollars. This is when I learned the incredibly valuable lesson of how investing smartly can make you money. What a lesson! Thank you, uncle Jesse Ruelas!

Leave a Reply

%d bloggers like this: