Palestine Chamber Magazine 2018-2019 - Page 19

Young Entrepreneur PA L E S T I N E C H A M B E R.O RG 17 Old Town Market - Gage Concilio How did you, personally, develop such a great work ethic and from whom? (Dana) My father knew the value of a hard day’s work and became an entrepreneur in his early 20s when he started his own car dealership. I saw what it took to run a business successfully, the hours that went into being a business owner, and how everyone in the family helped in some capacity. Growing up on a farm also gave me ample opportunities to learn what hard work is all about. How did you begin teaching good work habits with your children? (Dana) I have owned my own business since I was 22 so Gage has been exposed to the small business world since he was born. As soon as Gage was old enough to start helping around the house, we made it a point to include him in chores. By the age of 10 he wanted to find a job but was too young, so we decided to help him create his own business. We started picking and buying local produce and growing our own garden so that he could sell produce every summer. Gage is involved at every level of his business, from planting seeds to picking blueberries, and from pulling weeds to managing his social media presence online. Since starting his own business, Gage has worked several other jobs from photography to yard work and hospitality. This year, he has also worked at Old Town Market, our new business with Larissa Loveless. There he earned commission on the plants he sells. He has learned the value of being his own boss, and earning his own money. How do you coach them to handle their money? (Dana) We try to teach Gage how to be a good business owner and the importance of saving money. He is responsible for buying and picking all of his produce, so that he learns how to spend his money in a way that makes money, and how to manage his inventory, so as not to lose money. Gage saves 50% of all his earnings for college, which goes into his savings account each week. The remaining money is his to spend as he sees fit. If he wants to make a large purchase he starts saving 25% of the money he keeps to put towards his goal. Last summer he wanted to purchase a Mac Book. Melissa and I agreed to pay for half of the purchase if he saved and paid the remaining half. He was able to own his own Mac Book by his birthday in July. How do these life lessons prepare them for their Photo by Dana Goolsby future? (Dana) Learning to work hard, save your money, and set goals at an early a