Starting a Business

Business Advice From Kids

When it comes to business, kids say the darndest things.
2 min read
Opinions expressed by Entrepreneur contributors are their own.

Several children were given the following hypothetical business scenario: Company 1 manufactures a popular dinosaur puppet. Company 2 manufactures a larger dinosaur puppet that makes a roaring sound and costs less. How should Company 1 compete with Company 2?

Below are the responses of the young board of advisors. Take note, you might uncover a good business strategy.

  • "Maybe you should add stuff like three more legs-no, five more legs-and six heads and antennae. Then you could sell them as something really different, like 'alien dino puppets.' I think many people would come back to buy them." -Alyssa, 8
  • "Maybe put TWO T-Rexes in a pack, and when you rub their tummies, they would roar AND they would fight. Maybe they would watch FOUR T-Rexes fighting. I think you could sell a lot that way." -Aaron, 6
  • "If you copy somebody, you have to ask permission. Did they get permission to copy your store? No, they did not. So call the police immediately." -Audrey, 8
  • "If they make a bigger T-Rex, you should make a smaller one and talk about the benefits, like, it would fit in your pocket." -Nathaniel, 10
  • "Make all of our puppets have sound effects. Then lower our price to match their price. Don't go lower, though, because then they'll go lower and we'll go lower and then they'll go lower and we'll go lower and then . . . the dinos will be free." -Dylan, 9

More from Entrepreneur

Grow Your Business at Entrepreneur LIVE! Join us on Nov. 16 in Brooklyn, NY, to learn from legends like Danica Patrick and Maria Sharapova, pitch our editors, meet with investors, and potentially walk away with funding!
Register here

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.