As parents, grandparents and/or guardians, we have a huge influence on children. They will follow our path if we allow them to do so. If we expect the public school system to teach our kids entrepreneurship, I believe that we will be quite disappointed.
Nothing against the public school system… I know that many teachers are teaching great things and they also have the task of managing 20, 30 and even 40 or more kids at one time. And face it, not every child is destined to become an entrepreneur. I would even claim that out of 20 kids, 2 or maybe 3 will become successful entrepreneurs.
I do believe entrepreneurship can be taught. If we want the very best for our kids, I truly believe we need to actively teach them entrepreneurship. So, I am giving you 12 tips on teaching entrepreneurship to kids.
These are in no certain order and if you have any other methods you use with your kids, feel free to share them at the end of this post.
“Children are our future!”
Teach Entrepreneurship Tip #1: Inspire Creative Play
There are many toys that inspire creative play:
- Erector Sets
And with smartphones and tablets, kids have creative play at their fingertips. But on the other side of that equation are games that create kid zombies.
I suggest you are actively seeing what your child is playing with and inspire the creative play. Promote your child building a cool app or even a website.
Teach Entrepreneurship Tip #2: Ask Your Child How To Solve A Home Problem
I just love using this approach. It empowers kids to use their problem solving abilities.
Let’s just say that you have discovered a small water leak. Show it to your child and ask them how they would solve the problem and why they would do it that way. Let me use a scenario:
Dad: “The water is leaking from this pipe under the sink son (8 year old Thomas). How do you think we should fix it?”
Thomas: “Dad, I think we need to buy the parts and take this off and this off and replace it.”
Dad: “That is exactly right Thomas! But because I have to go to a meeting in 2 hours with clients and you have Sally’s birthday party in 1 ½ hours, do you think we can buy the parts, do the work and get cleaned up in time?”
Thomas: “Ummm, no Dad.”
Dad: “You are smart son; this is when as a business person, we have to rely on someone else. I will call the plumber and he can fix it and we will be able to make our appointments. Thank you for your help buddy.”
Teach Entrepreneurship Tip #3: Teach Goal Setting
This is a basic must I believe all children should learn. I suggest you share the goals you are setting and the plan on how you will reach them. You then help the child write down his/her goals and how theyt plan to reach those goals.
Teach Entrepreneurship Tip #4: Involve The Child In Your Business
I have met many entrepreneurs who have their children perform certain tasks within their business. You could have them fill out postcards, print fliers or other tasks that are geared toward your business.
Make sure and reward your child with profit payments. Show them that when they work towards success, they gain rewards.
Teach Entrepreneurship Tip #5: Do Not Minimize Emotions
We all know that failure is a part of discovering success. I mentioned goal setting earlier and if the child misses a goal, they are apt to feel certain emotions. It can be easy to minimize the emotions the child is feeling.
It is better to allow your child to feel those emotions and explain that it will happen again. Tell the child a story when you have failed and how you overcame that failure.
Teach Entrepreneurship Tip #6: Encourage Selling Ideas
Whether it is starting a lemonade stand, yard sale or approaching neighbors to mow their lawn or a similar idea to earn money, I suggest you encourage your child to perform these selling activities.
Selling is a major entrepreneur function and the sooner children learn selling techniques, the better at sales they will become.
Teach Entrepreneurship Tip #7: Deadlines On Chores
To teach children on meeting deadlines, it works to put deadlines on the chores you give them. I suggest rewards for meeting those deadlines and consequences for missing the deadlines.
Be sure and explain how it works the same way in your career path.
Teach Entrepreneurship Tip #8: Teach Financial Management
This is another area where I believe all parents and guardians need to be proactive with their kids. Teaching children how to budget, save and spend on items that will help them grow is so very important.
I will use the lemonade stand as an example. You may point out how they could take profits and add cookies or candies to their product list to gain more profits.
Teach Entrepreneurship Tip #9: Encourage New Hobbies
Various hobbies can help your child find their passion. Encourage new hobbies and allow them the ability to see what they like and what they don’t.
Maybe that idea of having a drum set in little Johnny’s room makes you shudder… But allowing it shows Johnny he can do whatever he sets his mind to do.
Teach Entrepreneurship Tip #10: Encourage Your Child To Help Others
If your child suddenly says he/she would like to help the homeless person they see outside the store you are in, as them how they think they could help. When they give an answer, encourage the child to go forth and do what they decided.
Teach Entrepreneurship Tip #11: Allow Decision Making
Allow your child the power to make decisions even if you think they will not be successful. I see nothing wrong with telling the child why you think it is a good decision, but also tell them you allow it and will be there to support them as long as it isn’t dangerous.
As entrepreneurs, we have learned through trial and error; it only makes good sense that we allow our children to learn the same way.
Teach Entrepreneurship Tip #12: Use Positive Words
I saved the most important tip for last… Many people tell their children words like can’t, won’t, shouldn’t, etc…
Kids need to hear positive words and if it doesn’t work out, they need to still hear positives that the next thing they set their mind on will be successful.
Kids can be taught entrepreneurship but do not assume they will learn it in school. By following these tips, you can instill that entrepreneurship mindset in kids.
Please let me know what you think and if you have any added tips.
One other tip… Get my book To The Top and after you finish reading it, have your child read it too or read it to them.
Let’s build your business and help them build their inspiration so they become successful entrepreneurs too!
Thank you for stopping in and please share this with parents on your social media sites.
To The Top!