Entrepreneurs – Start ‘Em Young!

My primary school headmaster was a stern Welshman from the hills overlooking the Dee Valley, an ex RAF fighter pilot from WW2 – he took no nonsense! 

However, one of his main concerns was preparing his charges for the rigours of the big wide world, not just the three’s, but self reliance, industriousness and a good work ethic. He believed in Young Enterprise before it had been invented, his mantra could’ve been “Entrepreneurs, start ‘em young!”

Well before it was fashionable for schools to do their own fund raising, he instigated a couple of annual events which raised much needed funds for the school. One of these events was called, “Make A Shilling Grow”. Every pupil in the top two years was given a shilling, (well it was the 60’s!) and a month to see how much they raised from the initial seed fund of one shilling*.

All very interesting you may be saying and a lovely trip down memory lane, but what’s it got to do with modern business?

Well, quite a lot really!

Mr Elwyn Hughes, my former headmaster, was not a captain of industry. He was not a venture capitalist, he was a headmaster of a small provincial primary school on the outskirts of Chester in the 1960’s. Furthermore, as all people of his generation from North Wales were, he was well versed in the bible and not averse to hitting us on the palms of our hands with a sturdy bamboo cane if we didn’t do as we were told!

Yet inadvertently he was a business start up guru! He was way ahead of his time. His “Make A Shilling Grow” idea was incredibly clever.

First of all, it introduced an element of competition, because there was a prize for the pupil who raised the most cash. Secondly, it sparked a creative landslide of ideas in our 10 and 11 year old minds. Thirdly, there were very few parents who weren’t co-erced into digging deep to supplement the shilling provided by the school.

There were only two conditions, you must at least have the shilling to hand back at the end of the month, and you mustn’t do anything illegal.

Of course entrepreneurs have been around a long time, but decades before we realised the importance of entrepreneurs Mr Hughes was encouraging us to have ideas, try them out and make some cash for a good cause.

So what did we do? Some of the best things were very simple. We bought a bottle of orange squash and set up a drinks stall in the play-ground at break times, we made rice crispy cakes and sold them for a penny each, we put the shilling at the bottom of a bucket of water and invited our friends to see if they could drop a coin and cover it completely (no one ever managed to win!).

But the key lesson here was that we were learning, we were becoming self-reliant, creative and, dare I say, entrepreneurs.

When a new idea emerged it was seized on, one girl started making cards which became a craze for a while, then a boy started brokering deals on used records, completely innocently and without guile we were participating in an entrepreneurial experiment, we were becoming young entrepreneurs.

Then just as quickly, the month was over and the school was back to normal, it was probably conker season next, or marbles, or we got back to playing British Bulldogs!

What Can Be Learnt From This Stroll Down My 60’s School Days

  • Challenge – It was tough coming up with a new concept with limited resources.

  • Competition -Everyone was looking for that killer idea at the same time!

  • Self Reliance – In teams or on your own, we all contributed.

  • Confidence – Not everyone wanted to sell squash, or score a penalty against the school team goalie, but we all found something to do.

  • Self Respect – We were all encouraged to take part, no ideas were laughed at, although my idea to sell cider politely discouraged!

  • Thrill Of Taking Part – Break times were even more fun than usual.

  • Common Cause – We raising funds for our school.

    Without doing a fairly lengthy piece of research into my former classmates, I have no idea how many went on to become entrepreneurs, business leaders or start their own companies.

    But that’s not the point. We can all appreciate the entrepreneur, the Steve Jobs, James Dyson’s, and Sir Alan Sugar’s, it’s the creativity that entrepreneurs bring to all walks of life, that’s what is worth encouraging.

    Now I have no idea how successful the “Make A Shilling Grow” event was. The fact that it happened year after year probably means it was successful at raising cash, and I’m sure there were problems behind the scenes that we, as children were never privy to.

    But the simpleness of the concept, and life long learning, for me anyway, that emerged from it make it a really great idea and one that maybe we can still learn from, 50 years on.

    *A shilling was a pre-decimal unit of currency. After 1971 when our currency changed, a shilling became a 5p coin.

  • Comments: Nothing yet...

    Some HTML is ok:

    <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong> 

    About Me

    Small businesses make up the vast majority of the UK economy, we employ more people, generate more tax revenues and create more wealth than the rest of the UK economy put together.

    All businesses need a little help from time to time, that maybe the oversight of a Non Executive Director, or an interim manager who offers help and support at a time of need or crisis or simply an outside eye to offer support and pracical advice at regular intervals.

    I've been involved in small and medium-sized businesses for over 30 years. My first career was in the Hospitality sector, I then moved into temporary healthcare staffing, healthcare provision and finally international recruitment.

    I've been involved in businesses that experienced extraordinary growth, and stagnation. Both can be problematic and need management, different styles of management, but management none the less.

    Many issues draw a business owner away from their primary role; to strategise, to ensure success and make sure the business is still trading a year from now. Often, that re-focusing requires an outside eye, that's where a good business adviser is invaluable.

    I offer practical no-nonsense advice and support. I can't honestly say I've seen every eventuality that a business may encounter, I don't believe anyone can, however when times get difficult, as they do in all businesses, it's good to have someone you can call on who's prepared to roll up their sleeves and get stuck in.