MONEY Odd Spending

Brilliant Guy in Massachusetts Is Selling Snow for ‘Only $89′

snowball wrapped in brown paper
Phil Ashley—Getty Images

Originally marked down from $99! The price includes overnight shipping anywhere in the U.S., and each package includes enough snow to make about a dozen snowballs.

New England—and Boston specifically—has way more snow than it knows what to do with. Boston has received roughly 100 inches of snow this winter. And it’s not even March yet. And guess what the forecast calls for on Tuesday? Yep, a few more inches of snow.

Boston has had so much snow that in early February the city started considering special approval by the EPA to dump it in the ocean because snow removal teams have been running out of places to put it.

It’s amid this scene that a Massachusetts man got the idea that he could do his part to get rid of some of the snow—and make some profits while he’s at it. The service, ShipSnowYo.com, started as something of a joke, but by mid-February it had reportedly sold around 100 16.9-oz. plastic bottles filled with snow, which were frozen in dry ice and shipped around the country, at a cost of $19.99.

By the time the bottles arrived at their destinations, they were most filled with pure New England water, not snow. But Waring insists that the recipients didn’t mind much. “They understand that we want to clean up Boston, so even if it does arrive as water, they get a kick out of it,” Waring explained to Boston Magazine.

Nonetheless, ShipSnowYo has since begun offering a new product that’s “Guaranteed Snow on Arrival!” This package includes 6 lbs. of snow collected courtesy of Winter Storm Neptune, which dumped 20+ inches in parts of Massachusetts. The “Limited Supply” snow comes in a thick Styrofoam container and is shipped overnight, at a cost of “$99 Now Only $89!”

Waring told Boston.com that the $89 package yields enough snow to make 10 to 15 snowballs. “It seems to be corporations paying for the $90 product as a funny gesture, where the $20 one is regular consumers,” he said of his customers.

What’s next for Waring? Look for a bigger, 10-lb. snow package to hit the market at a price of $119. Presumably, such a product would be more appropriate for larger snowball fights in Florida, Arizona, or wherever else they’re shipped. And the entrepreneur says that he might try a slightly different moneymaking idea next autumn. “Maybe I’ll ship some fall foliage,” he said.

TIME Marijuana

This Event Will Teach Businesspeople How to Buy Pot

Marijuana Pot Weed
Getty Images

Certified cannabis financial analysts are standing by

There are many bits of stock-trading wisdom that, simply because they are both wise and obvious-sounding, have become clichés: “Buy low, sell high.” “Don’t catch a falling knife.” “Nobody ever went broke by taking profits.” The list goes on.

Now we might have a new one, thanks to the folks putting on an event for would-be investors in the newly emerging legal-pot business: “Be wary of marijuana companies that don’t exist.” So advises a press release touting the Marijuana Investment and Private Retreat.

“The average consumer hears all day long how the increasingly legalized cannabis industry is booming and a Mecca for aspiring marijuana business owners,” according to the release. “What they don’t hear, however, are ways ordinary citizens (e.g., non-millionaires) can also capitalize on this new industry by investing in marijuana stocks.”

Any seminar that had only the interests of “the average consumer” in mind would stop there and say, “Don’t invest in marijuana stocks at all unless you have a little cash that you’re totally OK with losing.” But that wouldn’t make for much of a retreat—it would be over before the mid-morning munchies set in.

To their credit, the event sponsors say they’ll “teach investors how to invest without falling for the many fraudulent stocks and scams that come with investing in a new industry,” and note that many pot stocks trade over the counter, and in some cases aren’t even backed by assets, much less revenue streams (that’s what they mean by companies that “don’t exist.”) Such stocks represent nothing more than ideas, if that. That includes nearly all pot stocks at the moment.

Keynote speaker Alan Brochstein, identified in the press release as a “certified cannabis financial analyst” and founder of 420 Investor, said: “Even those companies that file with the SEC have red flags that include complex capital structures, non-viable business plans, a lack of industry experience and leadership, and many other potential pitfalls.”

Other scheduled speakers are: Tripp Keber, founder of Dixie Elixirs; Wanda James, president of Cannabis Global Initiative; and Christie Lunsford, a consultant and a veteran in the marijuana business.

TIME Innovation

Five Best Ideas of the Day: February 13

The Aspen Institute is an educational and policy studies organization based in Washington, D.C.

1. After the shootings in Chapel Hill, a Muslim-American school teacher asks what they must do to be ‘part and parcel’ of America.

By Deanna Othman in the Chicago Tribune

2. Imagine insulin that can read a diabetic’s blood sugar level from inside the body and start working on-demand.

By Anne Trafton in MIT News

3. City governments are using Yelp to warn the public about restaurant health code violations.

By Michael Luca and Luther Lowe in Harvard Business Review

4. The FDA is cutting the red tape so doctors can get experimental drugs to patients more quickly.

By Peter Lurie in FDA Voice

5. How can we support entrepreneurial inventors in developing countries? Create innovation ecosystems.

By Alexander Pan in the Aspen Journal of Ideas

The Aspen Institute is an educational and policy studies organization based in Washington, D.C.

TIME Ideas hosts the world's leading voices, providing commentary and expertise on the most compelling events in news, society, and culture. We welcome outside contributions. To submit a piece, email ideas@time.com.

MONEY Second Career

How to Build a Second-Act Business with Your Millennial Kid

Combining complementary skills of two generations can be a recipe for success

It’s awesome working with my dad,” says Case Bloom, 30. The feeling is mutual, says his father, David, 58: “We are good complements to one another.”

Among the more striking developments I’ve learned researching my new book, Unretirement, is the rise in boomer parents going into business with their adult children, like the Blooms—co-owners of Tucker & Bloom, a Nashville, Tenn. luggage business.

In the past few years, setting up a multigenerational enterprise has been a mutually savvy way for boomers and their kids to deal with tough economic times. The parents typically have capital and plenty of experience, while their adult children burst with energy and tech skills.

From ‘You’ to ‘We’

The Blooms, and their business manufacturing highly-crafted messenger bags targeted at the DJ market, are a prime example. Before opening shop, David had spent his career in bag design and was director of travel products for Coach in New York City before he lost that job. When Case was in college in Nashville, studying business, he’d offer pointers to help his dad’s venture. “His logo was so bad. Horrible,” laughs Case. “I’d tell him, ‘You’re doing it wrong. Do it like this.’”

Eventually, Case says, it became “We should do it this way. The business happened organically.” Today, father and son each own half of the company, which has seven employees. David handles design and product development; Case is in charge of anything to do with the brand image and online sales. He’s also the one making frequent runs to Home Depot for the business’s factory and to the Post Office for shipments. “I have a different set of skills than my father,” says Case, who is also a part-time DJ.

When Kinship Is Friendship

One reason for the growing second-act-plus-child trend: surveys repeatedly show that today’s young adults generally get along well with their parents—and vice versa. “The key is an attitudinal shift in the relations between generations,” says Steve King, founder of Emergent Research, a consulting firm focused on the small business economy. “Boomers are close to their kids and the kids are close to their parents.”

Take Amanda Bates, a Gen X’er, and her mother Kit Seay, co-owners of Tiny Pies in Austin, Texas. “We’ve always had a close relationship, feeding off one another, finishing each other’s sentences,” says Kit, 73. They’d long wanted to do something together.

Several years ago, Amanda got the idea for making handheld pies from her son’s desire to take pie to school. So she and her mother began selling small pies, based on family recipes, in local farmers markets. They now sell them throughout the state, mostly through specialty stores, and opened a retail storefront at their wholesale facility in March 2014. Kit focuses on the creative and catering side of the business; Amanda’s in charge of the basics of running an enterprise. “The trust is there,” says Kit. Amanda agrees. “Yes, the trust is there. If she says something will get done, it will.”

Teaching Your Child Trust

Trust and complementary skills are also themes for Lee Lipton, 59, and his son Max, 25, and their Benny’s On the Beach restaurant in Lake Worth, Fla.

Lee, the restaurant’s principal owner, came out of the clothing manufacturing business, moving to Florida after the Calvin Klein outerwear line he ran with a few partners was sold. He bought Benny’s a year ago. Max, who’d wanted to get into the food business, is one partner; the other is chef Jeremy Hanlon. Lee’s the deal maker, Max manages the restaurant and executive chef Hanlon handles the kitchen. “The three of us trust each other incredibly and when one person feels strongly about something we tend to do it that way,” Lee says. “Very rarely after talking do we disagree, and that format was identical to my past partners. I want to teach Max and Jeremy that closeness.”

For second-act family businesses, creating boundaries between work and home is advisable, but easier to say than do. Speaking about her current relationship with her mom, Amanda Bates says: “We used to go out together and have fun, go to garage sales, that kind of thing. Now, when we get together, the business always come up. Even at family dinners, we end up talking business.”

The Win-Win of Multigenerational Businesses

But in the end, it’s family that makes these businesses succeed.

Bianca Alicea, 26, and her mom Alana, 46, started tchotchke-maker Chubby Chico Charms. in North Providence, R.I. with $500 and less than 100 charm designs at their dining room table in 2005. They now have roughly 25 full-time employees and sell several thousand handmade charms. Alana is the designer; Bianca deals more with payroll and other aspects of the business. “It’s important to remember you are family,” says Bianca. “Things don’t always go according to plan, but at the end of the day you have to see one another as family.”

Intergenerational entrepreneurship, it turns out, can be a win-win for boomers and their kids. For the parents, it’s the answer to the question: What will I do in my Unretirement? For their adult children, working with mom and dad provides them with greater meaning than just picking up a paycheck.

Chris Farrell is senior economics contributor for American Public Media’s Marketplace and author of the new book Unretirement: How Baby Boomers Are Changing the Way We Think About Work, Community, and The Good Life. He writes twice a month about the personal finance and entrepreneurial start-up implications of Unretirement, and the lessons people learn as they search for meaning and income. Send your queries to him at cfarrell@mpr.org or @cfarrellecon on Twitter.

More from Next Avenue:

Businesses Mixing Older and Younger Partners

Hiring Your Parent

Older Entrepreneurs Are Better Than Younger Ones

MONEY Jobs

POLL: Do You Want to Have Your Own Business Someday?

Are you the entrepreneurial type, or do you prefer a steady paycheck from the boss? Let us know.

TIME Careers & Workplace

Meet the 12-Year-Old CEO Who Runs a $150,000 Business

ABC's "Shark Tank" - Season Five
Michael Ansell—ABC/Getty Images

We could all learn a lot about business and life from Moziah Bridges

Inc. logo

This post is in partnership with Inc., which offers useful advice, resources and insights to entrepreneurs and business owners. The article below was originally published at Inc.com.

In the past three years, while his classmates were doing homework and playing sports, Moziah Bridges built himself a $150,000 business.

That’s right–he started his business when he was 9 years old. Not yet a teenager, Bridges now has five staff members and has received a ton of media attention, from an appearance on the TV show Shark Tank to features in O magazine and Vogue.

“I like to wear bow ties, because they make me look good and feel good,” Bridges writes on his website. “Designing a colorful bow tie is just part of my vision to make the world a fun and happier place.”

Ever the fashionista, he’s reveled in style from a young age. At four years old, Bridges wore a suit and tie whenever possible and insisted on dressing himself.

His business, Mo’s Bows, was born of his love for bow ties and his dissatisfaction with the selection available for kids his age. Even worse than the poor color selection, they were all clip-ons–Bridges believed real men should tie their own ties. His grandmother taught him to sew by hand and to use a sewing machine, using scraps to create his favorite neckwear.

Within a few months, he had created his own collection of more than two dozen bow ties. Friends and family fell in love with his creations. Bridges upped his production, fashioning tidy bow ties from his grandmother’s vintage fabrics in an array of floral and African prints, and even scraps of old taffeta dresses.

Word of mouth worked its magic, and soon Bridges was taking orders through Facebook and selling on his own Etsy store. As demand increased, his mother, grandmother, and other family members came on board to help with production.

Today, each bow tie is still sewn from scratch, though Bridges has expanded from vintage materials to tweeds and ginghams, with a formal line of satins and silk. His bow ties are available in his own webstore, on Etsy, and in boutiques throughout Texas, South Carolina, and Tennessee.

When asked who his role models are, he said he looks up to Daymond John, who became his mentor as a result of the Shark Tank appearance.

As if his early success in business weren’t enough, Bridges has also become something of a young philanthropist. This summer, he donated $1,600 to send 10 children from his hometown of Memphis to Glenview Summer Camp.

In a post on his blog, Bridges wrote, “Memphis is ranked the highest of child hunger; most kids only get a meal when school is in session. At the community center, the kids get a meal and play time. Giving back to my community really helped me feel humble. It also makes me smile because I see other kids smiling and enjoying the camp.”

What’s next for this inspirational kidpreneur? In a recent interview, Bridges said he wants to go college and start a full clothing line by the time he’s 20.

He’s got it all figured out, folks; Moziah Bridges has a happy, colorful life filled with business successes, social good, work-school-life balance, and solid goals for the future. And he still gets to bed at 8:30 every night!

MONEY Careers

WATCH: From IBM to Scooter Salesman

A North Carolina entrepreneur went from working in the computer industry to running a successful scooter store.

TIME Small Business

This Is the Deeply Moving, Almost Unbelievable Story Behind Auntie Anne’s Pretzels

ABC's "Secret Millionaire" - Season Three
Fred Watkins—ABC via Getty Images Auntie Anne's Pretzels founder, Anne Beiler.

Sex, loss, grief, redemption and a Mennonite chicken farmer who made dreams come true

The genesis of most small businesses is filled with some measure of triumph and sacrifice, the natural elements that make up the heroics of entrepreneurship. But few “how I got started” tales are quite as rich as Anne Beiler’s, the woman behind mall staple Auntie Anne’s soft pretzels. Her’s includes devastating personal loss, grief, adversity, an abusive sexual relationship, long odds, achievement and at least one wildcard that appeared in the form of a Mennonite chicken farmer capable of writing million-dollar checks.

Fortune wrote about Beiler’s story last year (behind a paywall). Now, the site has a video (not behind a paywall) in which Beiler talks about how she grew her soft pretzel business from a single store to a worldwide brand with over a thousand locations. Here’s an excerpt from the 2013 story:

I was 19, and my husband, Jonas, was 21 when we married in 1968. We were a happy couple, and my only dream was to be a mom. We had two daughters until my daughter Angela was killed accidentally in 1975 when she was hit by a tractor on our farm. My life turned upside down. My husband and I weren’t able to connect emotionally, and I sought counseling with a pastor outside the Amish-Mennonite community. For six years I stayed in an abusive sexual relationship with that pastor, living in guilt and shame. The pastor’s license was revoked when his behavior with several women came to light. In 1982, when I began a life again with my husband, we were living paycheck to paycheck. My husband was a mechanic, and during our marital crisis he had studied to become a marriage and family counselor. He wanted to offer counseling services for free to our community, and we needed income. So I told him, “You’ve stayed with me despite all that I’ve done. So do what you want to do, and I’ll go to work.”

A friend told me that an Amish-owned store selling pretzels, ice cream, and pizza in the indoor Downingtown, Pa., farmers’ market was for sale. The owners wanted $6,000. I was astounded at the price because those kinds of weekend stores can bring in anywhere from $25,000 to $200,000 a year, depending on the location. We had no money, so we went to my husband’s parents, and they gave us the $6,000.

For anybody even remotely interested in starting their own business (or just reading an unbelievable yarn), it’s worth checking out.

MONEY Financial Planning

What My 3-Hour Lunch Says About Good Financial Advice

Women at a lunch meeting
Colorblind—Getty Images

Financial planning isn't about investing for retirement or saving for college; it's about turning your vision into reality.

It was Suzanne’s birthday. I really wanted her to have the next best thing to a day off. So I, the adviser, and Suzanne, my client, scheduled our meeting at Guglhupf, a lovely local restaurant.

In 2005, when I formed my company, I was sitting at one of Guglhupf’s upstairs tables when I came up with the tagline of my firm: “Driven by a Vision.” Now, years later, spending a sunny afternoon on Guglhuph’s patio with Suzanne, I had a powerful moment of living that ideal.

Suzanne is a visionary, an entrepreneur. She first came to me as a client because she wanted to be sure that the various ventures she had underway didn’t encumber too much of her wealth — that her assets wouldn’t all be at risk and that she would have enough set aside for her family’s future needs and her own retirement.

At its core, financial planning is helping people realize their vision. And for my entrepreneurial clients, I’m helping them navigate some very complicated waters at a time that’s emotionally charged due to hope, desire, exhaustion, and frankly, being stretched too thin.

These conversations can’t happen inside financial planning software, and they don’t happen on the pages of a financial plan. They aren’t about “Do I have enough money to fund my financial goals?” These conversations are about figuring out how to make those goals come to life.

And this is without my being a business consultant. I don’t know the trades of the businesses my clients start. What I do know is that there are risks associated with what they’re doing, and that likely their venture’s cash flow isn’t going to be as healthy as the projections project. I expect that there’ll be a need for another capital infusion. All of these things are going to impact their other financial planning goals: paying for their child’s education, for example, and being financially independent one day. They know all this too.

However, I believe that when a person has a strong vision for a world they want to impact — their community, their life’s energy making that impact — that inner urge trumps saving for retirement. It doesn’t trump it to the point of being reckless and blinded by today’s enthusiasm, but we recognize that they’re standing at the center point of the see saw, one foot on either arm, finding that balance between today and the long-term tomorrow.

I’ve never snuffed out their flame by saying, “You can’t do that.” I think that’s because I know what it’s like to be driven by a vision. It is my role to identify the risks I see, offer suggestions of how to look at it from another angle, ask them to name a Plan B, and beat the drum of the importance of managing cash flow. Then, I support them in their new venture, in whatever way reasonable.

At this meeting with Suzanne, there was an extra-special payoff. While I do try to stay out of the specifics of my clients’ businesses, over the course of our three-hour lunch we brainstormed about how she might finance one of her new ventures. I realized I knew some people who might be interested in funding it, and I promised to put Suzanne in contact with them. I later did, and they ended up providing money to Suzanne for this project.

So this meeting epitomized my work: My clients are driven by a vision, and I am driven to help them achieve that vision. And if we can enjoy a decadent dessert together, that’s even better.

MONEY Small Business

The 4 Essential Traits You Need to Build Your Own Business

It's not enough to want to be your own boss. The founder of an advertising company explains the key qualities that go into being a successful entrepreneur.

Many people aspire to become entrepreneurs, but it’s not something that just anyone can do. To actually succeed you need more than a desire to make money or be your own boss. You need certain qualities.

Soon after I started my own business, Fortune Cookie Advertising, I began to identify crucial qualities that were fundamental if I wanted to succeed. While I had all of these four traits to some degree at the outset, I also had to consciously develop them over time.

1. A Clear Vision

This is the foundation of your business. Your vision may be based on a product, a service, or simply the desire to solve a problem for your customers. This is the “why” of your endeavor, and it must be relevant to the people you will be serving.

That’s why it’s not enough to want to be independent—your customers or clients don’t care about this. They care about your vision, which could be anything from wanting to build the most advanced computer operating system to wanting to find a fast way to deliver flowers around the globe.

Your vision may change, expand, or narrow over time, but you need to have one when you start. In my business, I started with the vision of being able to provide advertisers with an innovative way to get their message out.

2. The Ability to (Quickly) Pitch Your Business

If your business is straightforward, like selling books or changing the oil in people’s cars, it’s easy to explain. But some products and services are more technical or abstract. No matter what kind of business you decide to run, however, you should be able to describe it to prospective customers, investors, or even friends and family members in a few short sentences.

If this isn’t your strong suit, you might want to study the art of the pitch in terms of the movies. A screenwriter must be able to sell his or her idea to a busy and skeptical producer in a few minutes. Any new business owner should have the same ability. It shows that you not only know your business well, but can convince others of its value in language they can easily understand.

3. Persistence

Many of the most successful entrepreneurs in history failed at their first (and in some cases second, third, or more) businesses. Notable examples include Harland Sanders, founder of Kentucky Fried Chicken, Richard Branson of Virgin Atlantic, and even Bill Gates.

But perhaps the most famous example in history is Thomas Edison and his many attempts to design the light bulb. The quote “I have not failed. I’ve just found 10,000 ways that won’t work” is often attributed to him. Hopefully, you won’t have to be quite as persistent as Edison, but the principle is the same. Many new ventures fail or experience setbacks, but you cannot let this stop you from trying over and over again until you devise the formula that works—you won’t get paid if you don’t.

At one point in our business, a computer failure resulted in the loss of hundreds of names of contacts, including customers and prospects. This data, of course, should have been backed up, but I had not gotten around to doing this. So my team and I had to manually rebuild the entire list. It was a painstaking process, but we recovered everything, and I learned a valuable lesson: Always back up!

4. Focus

This last quality is one that entrepreneurs need in abundant supply. You need to be able to see a project from inception to completion while overcoming distractions. You must be able to prioritize, set your own schedule, and meet your own deadlines. For people accustomed to having their tasks assigned to them by employers, parents, drill sergeants, or professors, this is a big change.

When I first started my business, it took me a few months to understand this. At first, I made elaborate schedules and to-do lists to keep myself on track. I still do that to some extent, but now it’s more internalized as I’ve gotten comfortable in the role of entrepreneur.

Almost everyone like the idea of being independent—in theory. The freedom to be one’s own boss is one of the most desirable things about starting a business. But only you can decide if you are focused enough to do it.

Shawn Porat is the CEO of Fortune Cookie Advertising, a media placement company selling advertising space within fortune cookies at Chinese restaurants throughout the United States.

Young Entrepreneur Council (YEC) is an invite-only organization comprised of the world’s most promising young entrepreneurs. In partnership with Citi, YEC recently launched StartupCollective, a free virtual mentorship program that helps millions of entrepreneurs start and grow businesses.

More from the YEC:

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