Like every other kid growing up in the Northeast in the 1950s, a snowstorm meant I was up early sitting by the radio, eagerly awaiting the “no school” announcements. However, there arrived a point when a snow day ceased to be solely about sledding and snowball fights.

At the age of 10, I became an entrepreneur and learned my first lessons about business and economics.

My friend, Mike, whose yard backed up to mine on the next street over, and I decided that during the next big storm we would go out and make some money by shoveling snow. 

At last, the storm came. Even better, it was on a weekday, which meant our dads went to work and left the shoveling for someone else.

I called Mike, who was enthusiastic and ready to go. Following a quick breakfast, armed with a snow shovel and dreams of earning some cold cash, I traversed the deep snow in my backyard to reach Mike’s house. He was already outside shoveling the front walk of his next-door neighbor. 

I promptly joined him, the two of us shoveling away. Mike told me that after I called, he had wasted no time venturing out, ringing the neighbor’s doorbell and successfully securing our first job. 

As we shoveled, I asked Mike how much we were getting for the job. 

“Thirty-five cents,” he replied.

Thirty-five cents? That was all? The job had to be worth twice that—at least 50 cents anyway! How do we split 35 cents, anyhow?

Lesson #1: Establish a fair price and negotiate an agreement with your business associate.

After a short discussion, Mike was convinced that the initially quoted price might have been on the low side. We agreed that, in the future, we would ask for a more easily divisible figure. 

Fortunately, our close friendship prevented any rift. We continued to shovel away, proud of completing our first job.

After producing a wide and clear path, we eagerly approached the door to collect our pay. Mrs. O’Brien inspected our work and, impressed by our efforts, handed us a half dollar since we had done such a good job. She even requested that we return after the next storm.

Lesson #2: Always do your best work. A happy customer is likely a repeat customer.

We went door to door seeking our next job. After a couple of rejections, we were hired again, having learned the importance of determining our asking price in advance. 

We finished that job and received our pay. We remained enthusiastic and off we went to find our next job. However, the landscape had changed—other kids had joined the scene, actively seeking work. We had competition!

Now we were in a race for business. Some of these kids were older, stronger and faster shovelers. Work became more difficult to get. Luckily, we were first on the street.

Lesson #3: Start early. Be first with the product or service.

Approaching a house with an already-shoveled front walk, a man came out the front door and asked if we were seeking shoveling work. We were a bit confused by this as his walk had been shoveled. He explained he had shoveled his front walk himself but had to leave by taxi for work and wanted his driveway shoveled so he could use his car tomorrow.

“I’ll pay $5.”

The snow was deep, the driveway long and wide and the job daunting, but the allure of $5 proved irresistible!

And so, we began to shovel. And shovel. And shovel some more. As the initial fun waned, our energy dwindled and enthusiasm dimmed, the piles of snow grew larger, each shovelful becoming heavier. The driveway now seemed to stretch endlessly. We agreed this would be the last job of the day. 

Finally, we reached the end. Exhausted, we headed back to the front door to collect our pay from the man’s wife when we heard an ominous sound in the distance—the city snowplow. Helplessly, we watched as it left a dense, high pile of snow along the curb in front of the driveway. 

We finished the job, collected our money and headed home, too tired to even split it up. We would do that tomorrow.

Lesson #4: Have realistic expectations. Don’t take on a job you can’t finish. Anticipate unexpected difficulties.

I spent the remainder of the day watching TV, reading comics and generally doing nothing. However, the next day after school, we met up and divided our earnings. I had $3! Three whole dollars. 

Lesson #5: There is nothing wrong with hard work, especially when you get paid for it.

The snow blower diminished the demand for manual snow shovelers, and landscapers equip their trucks with plows to earn winter income. There is no longer a rush of kids out looking for shoveling jobs.

Lesson #6: Markets change. 

After several decades, I reconnected with Mike. Both of us have led happy and successful lives. We reminisced about our shoveling exploits and our joyous childhood adventures. It was wonderful to see him again.

Lesson #7: Friendship is priceless.