Worcester Business Journal

wbjournal.com | October 14, 2024 | Worcester Business Journal 19 By Jason Reposa Jason Reposa is CEO and founder of Good Feels, a Medway-based cannabis product manufacturer. 10) Don't push them. My kids have started businesses from freeze-dried candy to clay masks. You can guide kids to make good decisions, but don't be overbearing. Don't impose your vision on their dreams. 9) Don't do the work for them. I've been guilty of this myself. I remember running freeze-dried candy errands for my oldest son while he was playing Fortnite. Doing the work for them is a disservice. 8) Small projects, small steps. Start with something manageable, and understand the risks. If they want to bake cookies or brownies, be aware food safety is im- portant. If that's too much work, focus on simple, one-time projects tied to an event. If they enjoy it, expand from there. 7) Will work for treats. When they're younger, a good incentive might be a shop- ping spree at the candy store. As they get older, they'll want things like video games or makeup. Align their work with something they truly want but wouldn't normally get. 6) Build their confidence. Encourage them through wins and failures. When they suc- ceed, cheer them on. When they fail, give a hug and focus on what they did right. 5) Let them take risks. This won't be their lifelong business, so don't be afraid to let them take risks. They will fail, but that's part of the learning process. Keep risks small enough that failure doesn't discourage them, but big enough so they learn. 4) Promote resilience. If your child is shy, have them set up at a public event. Assuming they know the basic math and how to make change for larger bills, make an excuse to go find a bathroom. You might be surprised at how well they handle things on their own. 3) Teach financial literacy. This is a great opportunity to introduce them to basic business principles. Ask how much they think it costs to make their product and how much they want to sell it for. 2) Loan them money, don't give it to them. It's an important lesson: if they need startup money, lend it to them. Use the same spreadsheet to track loans and re- payments, and have them pay off the loan with a portion of sales. 1) People want to buy from kids. Adults love supporting kids. People pay $5 for a cup of lemonade from my kids just because it reminds them of childhood. Business sayings to live by BY SARA BEDIGIAN Special to WBJ W hether a company's intended goal is to increase sales or widen audience engagement, social media can help. Social media can assist in building rapport with a company's audience and improve brand visibility. By collaborating with other brands through social media, busi- nesses can grow and meet others at the same time. Social media apps are free, accessible, global platforms; all compa- nies should discover how they can best benefit from them. Find the right tool. Every social media has a different purpose. Plat- forms like LinkedIn can share webinars and job openings, while Instagram and Facebook could be places to sell or promote products. TikTok's focus on virality helps business owners find new and wider audiences, while Instagram tends to yield sales, Alexandra York writes in a Business Insider article. If a company is attempting to create content easily found days later, YouTube could be a good option. Companies should decide what they want to use social media for and utilize the best platforms for those goals. Know your audience. Different social media platforms attract different audiences. It is important to know the type of audience you want to attract. Younger generations tend to utilize TikTok and Instagram more than older generations, according to a Pew Research Center 2023 survey. Older generations primarily use Facebook and YouTube, compared to other platforms. Depending on what product or service a company is trying to sell, this can determine where to go to have the best desired outcome. Utilize networking opportunities. With a click of a button, social media has become an effective way to con- nect with people all over the world. "rough channels of networking, you could appear on a company's blog or create a cross-promotional giveaway or contest through branded partnerships," Tiffany Gaines writes in a Forbes article. Platforms such as Facebook groups or online webinars create an opportunity for people to share ideas and collaborate on business initiatives. HOW TO LEVERAGE SOCIAL MEDIA FOR BUSINESS GROWTH BY JEFF WALKER Special to WBJ F rom a very young age we have been told and use life and success quotes. Some are very direct and others a bit more abstract, requiring some thought and interpretation. As we have grown our business over the past 10 years, my partner and I have used, developed, and implemented many of these quotes to help drive the overall culture of our company. Here are a few of our favorite quotes, and why they are important to us: • "There is no traffic on the extra mile." is is one of my favorites that I got from Roger Staubach from my time with the Staubach Company. It is a pretty simple concept, but it has amazing benefits when you put it into practice. Put in that extra effort or additional support that was not expected, clients notice and do not forget. • "Do what you say you are going to do." Although a very simple statement, it is not always easy to achieve. We use this everyday as a reminder. If you told the client, you would have something done, then get it done. Oentimes things change, and it's not possible to meet your goal. If this is the case, all you have to do is call the client and let them know. Over time it forces you to be realistic with your commitments and enhances communication. • "Do you want to say what you want to say or get what you want to get?" is is one we created as the instinctive response to say something in response to a challenging situation is not always the right answer. In the heat of the moment, saying what you want to say might feel good, but it is not the right answer for the benefit of the business. is saying is a good reminder to take a minute, pause, and think about what you want to get out of this situation. en move forward with communicating what will best help you get what you want to get. • "Be long-term greedy." Being greedy is not a good attribute, but being long-term greedy is great. is is a good reminder it doesn't help us or our customers to try and make every dollar we can on a specific project. Our goal is to deliver good value on every project, so we are hired for the next one. I am always happy when we help our clients win on a project by finding cost-saving solutions that benefit them. Although we won't make as much, I know they appreciate our integrity, and we will be there for the next project. • "Perception is reality." If someone thinks a certain way about your business, even if it's not true, it becomes reality and needs to be addressed. It could be the perception that you are not a big enough company to handle a larger job, for example. If you don't address that perception, you will not get the job. is requires a lot of attention and constant communication with everyone around you. If you run into a challenge, make sure you are clearly communicating what happened, why it happened, and how you are fixing it. If you don't, a negative perception can form and come back to hurt you in the future. 10 Things I know about … ... Raising entrepreneurial kids Jeff Walker is CEO and principal of Walker Development & Construction Management in Southborough. 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