Nancy Smith: I don’t think Remmi initially thought about making money. As we did the research together and decided to create a web series, she was definitely interested in the cooking show aspect as that is what she loves to do. Very quickly she had a clear focus on how she could help kids improve their nutrition based on the almost immediate interest in her and what she was trying to accomplish. It did not take long for her to realize funding and support would be necessary to achieve what she wanted to do.
Sarah: Did you know everything you needed to know to create business success for kids and if not how did you find mentors or go about introducing her to mentors?
Nancy Smith: I had no background in film and I initially just made inquiries to people who were in the film business. It was that group of people that got us started from an intelligence perspective and, they were also the group of people that encouraged us to go forward as they felt the business concept would be successful. So that is how we started and it was through that process I realized how partnering opportunities could have a significant impact on our ability to succeed. My husband is a small business owner and for sure that alone has had influence on Remmi’s plan. My husband’s company is his dream job so he easily related to what Remmi and I wanted to do.
Sarah: What do you think is the best way to support kids in starting a business and what did you do to support her along the way?
Nancy Smith: I think a parent can be the best partner to a kid trying to start a business. I am the behind the scenes partner that helps Remmi accomplish her dream.
Sarah: How do you help your CEO Kid stay balanced in all the other things they are doing in life?
Nancy Smith: Fortunately Remmi is a very bright kid with excellent grades and she is focused on school. I try to keep her schedule balanced so that she never feels she is missing out on being a kid. Many weekends have been filled with filming, but I try to schedule those so she has every other weekend off to do what she wants to do with friends and family.
Sarah What role besides being a parent do you play in her business?
Nancy Smith: I am her partner. What I brought to Remmi is business experience. She knew what she wanted to do but did not know the path to getting there. I think the support of parents is a critical to their success.
Sarah: What are some of the challenges that you see in helping kids start a business or what were some of the challenges you faced in helping her become the success she is today?
Nancy Smith: As with any start up business, the proper funding is usually the hard issue. If financial resources can be lined up from the beginning-obviously the business has a better chance for success. However, I also do not think you should limit the business plan going forward because not all the funding is in place. Remmi for sure would not be where she is with her enterprise if we waited for the funding to come in. I believe her success has been a culmination of several things, faith in the plan, creative thinking beyond funding to accomplish the plan, hard work and Remmi has the talent to do what she is doing.
Sarah: Share your TOP 3 – 5 tips that every parent of a CEO Kid should implement.
- Encourage them to work for their dream.
- Support them in any way you can from funding to helping them do their chores.
- Make sure they have a balance, after all they are kids.
Sarah: If you could have had resources available to helping kids starting a business or in helping you raise a CEO Kid, what would you have wanted?
Nancy Smith: The money resources are obvious! As important, resources available that encourage kids to think big, resources that would help them develop business strategies, and mentoring programs that is ongoing through the implementation of the business plan.
Want to read more about Remmi? Visit the interview we did with her HERE!