This video (click here to watch in a new window) shows me test running the battery powered toy power bike built my 12 year old son, whose natural talent for creating electrical gadgets continues to excite and amaze me.

He’s been like this since he was about 8 years old. I’ve written several articles in the past – including one about how at the age of 10, he revived the laptop batteries I discarded, and used them to build a crude but functional rechargeable lamp using the bulb he picked up from a damaged one. Last year, I wrote about his talent for playing the recorder and harmonica (including putting up downloadable audio samples).

This time around, as part of our home schooling for income earning life skills project, I’d made him and his siblings watch a series of 2 to 3 minute You tube videos about how to build:

(a). balloon powered toy cars and

(b). battery powered cars and bikes – with tyres made from plastic Coca Cola bottle covers.

By the next morning, the 12 year old’s sisters came running to inform me that he had already built a functional balloon powered car made from carton paper, drinking straw, rubber band and plastic coke bottle covers – just like the videos they’d watched the night before.

I was NOT surprised. He’d played back the videos repeatedly till well past midnight, on my laptop, when the rest of us were watching TV or asleep. He was in his elements!

After watching the toy car run for a while, I asked why it always tended to veer leftwards. He replied that he was not sure. From the narrative in the video we watched, I suspected it would be the alignment of the parts.

The video showed where the builder had sketch out the “chassis” and measured out the sides of the paper to hold the wheels. Looking at the one made by my son, it appeared the tyres were not properly aligned and the paper itself not evenly cutout.

So I told him to consider taking it apart and rebuilding it from scratch. He groaned.

I told him the finishing of such products was the key to succeeding. If your finishing is poor, few people will be interested in what you’ve created. He knew I was right and nodded in agreement. But, “I want to make the power bike before I go back to the balloon car” he voiced.

He’d taken the words out of my mouth. I’d actually wanted to ask him if he could give building the battery powered toy bike a try…

I challenged him to see if he could make it ready, so I could take it with me as a gift the for kids of a client I was to meet with, along with his spouse for a paid consulting session, in their home.

24 hours later, just before I left, he had his battery powered toy bike  running, BUT it kept falling off to one side, after a few seconds.

In other words, it was not ready. So I left telling him to keep at it, so I could see it on my return.

Long story short, my boy got it working – with some creative improvisation informed mainly by lack of access to refined materials and tools used by the creator of the video we’d watched. The video below says it all; I am so proud of him – and of his 14 year old brother who provided support (and is also very good with his hands – more mechanically inclined and especially gifted in handicraft fabrication)/

This is the role I play in the lives of all my kids. I act as a collaborator and catalyst to help the nurture their minds and abilities. That is the role a parent needs to play – one that NO TEACHER can play as well as a determined parent can.

I share my stories not to brag, but as a public service wake up call to parents who are willing to listen, that they should take ownership of giving their kids a more real world relevant and balanced education, BEFORE it is too late!

Our Next Step: Monetizing His Talent/Genius

As the title of this article indicates, I argue that it’s crucial for parents – and societies – to guide kids to identify, nurture and ultimately monetize any talents or abilities they have, as EARLY as possible in life.

Why?

Because – as we all know – life can get VERY depressing when one is unable to achieve financial independence. When you lack money to meet your needs and wants, it tends to make you feel limited and unfulfilled.

When you know you have undergone ALL the formal schooling you were told you needed to be able to function competently in society, and you STILL find yourself unable to achieve financial independence, that can be VERY painful.

Trust me dear reader, THAT was the hole from which I had to use my self-taught skills and abilities to climb out of despite all my academic brilliance through university, and my exceptional performance in paid employment.

Truth be told – when I stepped into the real world of my society, in Nigeria, I quickly discovered that MERIT, based on demonstrated competence, ranked VERY low on the criteria that determined if one achieved business success or not.

For that reason, after trying without achieving sustainable success doing things the “normal” way offline, I turned my skills and attention to the online world, and began to offer the SAME solutions to the SAME people (Nigerians) – later reaching to African countries and beyond.

Today, it is on record, from MANY articles I’ve shared true stories in, that I earn passive income from sales of my custom Excel-VB software and Information Products, which I create based on needs I identify in my target niche markets.

The instincts and insights which guide me to do the above, so well today, that I enjoy an international following of clients and fans for my Customizable ExcelVB software as well as my Cost-Saving Farm Business Support solutions, are what I want to help my kids develop MUCH earlier.

It is for this reason that I’ve asked my son to take apart THIS his first attempt at the battery powered toy bike, and rebuild it so it no longer falls over like it periodically does.

Like I explained to him, that’s when we can proceed to confidently offer it for sale to the target market I have in mind. This is the Best Practice Mental Attitude that guided me in developing the growing range of passive income generating products that I have today.

In other words, I want him to start a new micro business based on this product.

His 14 year old brother who has worked with him on this and other projects is recording a video of the process as I type these words, so that we can SHOW how he does it, to remove any doubts there might be about the veracity of the claims I’ve made here.

NB: I found it quite interesting that each time I asked him if he needed money to buy anything to make the toys, he readily told me he knew where to find the needed items, at zero cost.

In no time he would be out the door and off to look around the estate grounds, grocery shops, collecting the needed items. That’s why some of his finished products don’t look as neat as those in the videos he watched.

However his demonstrated attitude is likely to enable him carry out his products creation/development very cost effectively, leaving ample room to reap useful profit margins if he decides to make money selling them.

And why not? I am convinced it’s the way to go. That’s why I’ve resolved to work with him on that aspect, once we establish that he’d got it right.

My plan is for us to – for instance – apply creative paint job to new toy bike, then sell it with a standing offer to provide FREE repair services to any buyers.

The interest from his 2 year old brother (Tayo Solagbade Junior) as well as 4 older siblings proves we can succeed in attracting parents with kids to buy these repairable toy cars and bikes from my son.

For me therefore, THIS is yet another opportunity to further coach him and his siblings on the crucial importance of developing and monetizing a market relevant expertise, like I do for a living!

Helping Kids Understand Money, and Money Making Via Passive Income Generation – A Crucial Imperative

Over a week ago, my kids made their first cash withdrawals from their respective individual accounts.

Since mid January, I’ve been introducing my kids to the formal world of banking so they can take their micro business training more seriously. I did not own a bank account till I was 23, serving in Niger State’s Lapai LGA in 1993. The pain and embarrassment that my  ignorance about money and related issues made me resolve to give my kids a different experience.

That’s why each visit has seen them carry out tasks like filling withdrawals slips, transfer forms, deposit slips etc. And we discuss – and practice in real time – various aspects of bank related activities – including use of the ATM/Debit cards on and off the web.

They already EACH have a webmail account setup on my website and linked to their respective accounts, so that we already see the various bank notifications and alerts on the Blackberry smartphone I bought for them to use in their web based home studying.

The bank messages provide additional opportunities to coach them more about ways to make use of their accounts.

My 10 year old girl asked: “Tayo, will the money grow?” (after they had each deposited N2,000 (Two Thousand Naira) I’d handed to them, into their individual accounts).

I replied: “Of course it will. Simply make sure you do the stuff I teach you, about making money, along with others you learn by yourself, then pay the money you make into your account. In no time you’ll see your money growing.

Then I made an offer: “If you like you can make some money working for me. I have some tasks I need done on my website. If you can do them, without serious errors, to my satisfaction, I ‘ll pay you as my “Virtual Assistants”.

Her reply: “YES!”

Action Plan: We’re now working on the modalities to get her started !

The others don’t seem so keen – yet. I anticipate that might change when the SEE her actually get paid!

They already have their own Blackberry with an active subscription, so the rest will just be a matter of agreeing when to work, what to do, and how much to pay.

Most of the work, for now, will be updates of URLs on my blog from the defunct spontaneousdevelopment.com to tayosolagbade.com. I’ve tried my best to do it myself, but hundreds remain. So I definitely need help – and what better way to get such help, than to coach my kids to do it for REAL pay as Virtual Assistants!

Final Words: My understanding of money and the need for real world relevant money making knowledge, attitudes and skills was NIL when I completed my schooling.

And it caused me lots of avoidable hardships during that June 12 presidential elections crisis ridden year & even later.

I’m determined to ensure that my kids do not arrive adulthood with THAT kind of handicap!

What about YOU???

See photos below…

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4. Read more of my Best Practice Parenting articles here.

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