I've been an entrepreneur since I was 14 years old.
My first business launched when I managed to parlay my favorite hobby, sports card collecting, into an enterprise that allowed me to expand my own personal collection of cards and generate extra income at the same time.
Back then, sports card collecting was at its pinnacle in popularity.
People were buying, selling, and trading cards and other sports collectibles every day, and earning a nice chunk of change while doing it.
It was the ultimate example of mixing business with pleasure, as most of the people selling their wares were looking to increase the value of their own collections as well.
A couple friends and I decided we would do exactly what the "big guys" were doing.
It was relatively cheap to rent a couple of tables at a local card show, place price tags on the cards we wanted to sell, and count our cash at the end of the day.
After all, we positioned ourselves smack dab in the middle of a buyer's market.
I never really thought about profit.
In fact, the gentleman who owned the card shop down the street from my house probably loved the fact that when the mall closed one Sunday, I was talking about how I profited 50 bucks for the day.
Why? Because he knew my profit would soon be in his pocket.
And that's exactly what happened.
After school the next day, I rode my bike to his shop and spent the whole wad on more "inventory.
" Looking back, running that "business" was a lot of fun.
I met some great people, developed some elementary business and negotiation skills, grasped selling an in-demand product at market value, and learned to operate a business at a profit, albeit a tiny one that quickly burnt a hole in my pocket.
Sadly, as I grew up, my love of sports cards declined, as I'm sure it did with a lot of kids my age.
My favorite hobby was replaced by girls, my driver's license, parties, and a part-time job.
I didn't light the world on fire, but I gained a very early understanding of how to run a successful business.
First, I had to establish trust.
I wasn't just dealing with kids...
I was dealing with adults as well.
So why would they hand their money over to a 14-year old kid? Simple.
Because I talked to them.
We mostly talked about cards, but we immediately had a common interest.
I got to know them.
I learned about what they liked.
I didn't try to show them something they weren't interested in.
I never realized I was doing it, but I developed a bond which allowed my customer to see that I wanted to deliver them what they were looking for.
Next, I had to have passion for what I was presenting.
This was easy.
Why? Because I believed 100% in what I was offering! I was a kid who spent years building a collection of cards.
You'd better believe I felt strongly about what I had invested so much time, energy, and money into.
As long as I had what my customer was looking for, I was able to passionately provide them with the product they were looking for.
Finally, I had to let my customers decide for themselves.
This was a little trickier.
I was young and knew I needed money so I could buy more cards.
At the same time, I wasn't trying to "hard-sell" anyone into buying my product...
even if I had no idea what a "hard sell" was.
I had to be willing to bend, compromise, and make the deal work out for both sides.
In the end, some deals worked out and some did not.
But no one left my table feeling ripped-off.
That was very important to me.
In business today, trust, passion, and the ability to "present" instead of "sell" are cornerstones.
Of course, this is just the tip of the iceberg, but you can build a solid foundation for your business practices based on these three elements.
Trust is a necessity which can be gained by providing value, and speaking with passion about your cause automatically shows the belief you have.
It's so simple, a 14-year old figured it out.