Day 4 - Do I Really Need School?

We Got Our First Offer and I Had a Question

Hey, we've got an important business update and I asked my Teacher a question.

The First Business Offer

First off, the boat is listed on several different sites (Facebook marketplace, some Facebook groups, and a few more).

Within an hour of the listing going live, we had our first offer come in.

If we would accept the offer, we would profit $2,000 and Flip-n-Ricky is ALIVE.

But, I countered back so still waiting to see if they bite.
I was really thinking we'd profit $3,000 to $4,000.

If they accept our counter offer, we'll profit $3,750.

On the Facebook marketplace site, you can see that they saw our response, but we haven't heard back from them, yet. A few other people saved the listing, though.

I'm really torn between accepting a small win or waiting for a better offer.

What if the offer doesn't come?
What if this was our only shot?

Let's see how today goes because my Grandpa really wants the boat gone so his garage gets cleaned out.

The good news is we have some progress.

To Stay in School or Drop Out?

I also had a question for the Teacher today.

Why do I need school?

If Flip-n-Ricky is successful, then I can just do this to make money.

I could be a 7th grade entrepreneur (and dropout)?

Of course, the thoughts ran through my head of, "maybe I still need to go to school because I have to be educated enough to know how to read, spell, understand, speak, start a business, etc." "Maybe I should still put school first instead of the business so I can keep learning, but I also feel like having a business when you're young is a great idea for the future."

Teacher's Notes:

Celebrate Small Wins

Entrepreneurship can be a very lonely career choice, decision, path. It's important to see progress and positive momentum to stay motivated and excited. Times will get hard and you'll need the ability to persevere through hard times, but CELEBRATE EVERY SMALL WIN. Today's win was getting the listing active and even getting an initial offer. 👏

Control What You Can

Another important lesson is answering the question of "What do we really control?". Do we control the outcome? I have found that we can only control our daily actions and we are NOT IN CONTROL of the outcome. That is why it is very important to make a plan and stay focused on what we can control (our actions, thoughts, mindset, and words).

Why School Still Matters for Entrepreneurs

And to answer the great question of "Do I need school?"…

Ricky, you don't need school just to get good grades. You need it to build the foundation for everything you will do in life, including your business.

School teaches you how to think, not just what to think. It helps you learn how to solve problems, communicate clearly, manage time, work with people, and see the world from different perspectives. All of these are critical skills for any entrepreneur.

Yes, you could make money without school. But education gives you the tools to understand why your business works, how to make it better, and how to build something that lasts.

Think of it this way: your business is like the car, and school is the fuel. You can roll downhill for a bit on momentum, but if you want to go far, you will need the right fuel to keep going.

So keep building Flip-n-Ricky and keep learning. The best entrepreneurs never stop being students.

The Numbers

Money Spent so far:

• $24.18 (godaddy website hosting)
• $25.00 (month 1 Lovable account)

Profit:

$0

How I'm feeling (FEAR to JOY, 0-10):

8.0

(we got a profitable offer)