A Lesson In Business

Tristan's been busy over the past few months working on a new business venture. He's extremely money motivated so I guess I always knew it wouldn't be long before he dove into some kind of revenue generating activity. Lord knows I can't keep up with his expensive taste.

He's selling the latest fad gadgets on an ecommerce website. To him, this is a fantastically fun way to earn some extra spending cash. I'm not sure he's even aware of how enriching this project has been for him. 

We spend hours poring over comparisons from different suppliers, factoring in things like product costs, shipping, returns and then using all that data to price his products and develop his own store policies. 

He had to research the tax rules of operating an ecommerce business in Canada and set tax rates accordingly for each area. He had to learn quickly what terms like MOQ, FOB and drop shipping mean. 

He's learned how to track his website's stats and market through social media. He's learned how to create a budget and track expenses. 

He's also learning that sometimes there are more meaningful reasons to succeed. He recently mentioned forgoing his first smart board so he can offer it to someone who would be shocked and amazed to call it his own. (This doesn't surprise me since Tristan is the most compassionate of all my children... he might be the first to lose his temper when he's overwhelmed but he's also the first to make a sacrifice when something tugs at his heartstrings.) 

I couldn't be more proud of him right now  for seeing this through. I wish him the best in his new venture!