The
next big idea could be right around the corner. In fact, it could be coming
from one of your kids. Children today have an excellent grasp on social media
and the world of opportunities the internet provides. Because of these facts,
it comes as no surprise that many kids today are starting to pursue their
entrepreneurial goals as early as six or seven years old.
One
child-entrepreneur survey polled 1,721 students in grades 5 through 12 and
found that 77% of students wanted to be their own boss. A whopping 45% said
they wanted to start their own business and not far behind were 42% of students
who said they wanted to invent something that changes the world.
These
big ambitions for such young children need to be cultivated, and as a parent,
you can help them make their business goals a reality.
From online
learning classes to teaching kids about money, here are 7 parenting tips for
empowering kid entrepreneurs:
1. Encourage
their curiosity
Kid’s
have brilliant minds. It is often said that it is easier for a child under the
age of seven years old to learn a second language than it is for adults. Why?
Unlike adults, they are still steeped in education on a daily basis. Their
brains are ready to create new information more willingly than an adult mind.
The
Teachers College Columbia University reports that this has much to do with the
prefrontal cortex, which contributes to an inventive and creative outlook on
things. This curiosity and ability to learn should be encouraged by parents.
Help them take online learning classes or find opportunities to do projects
with them that relate to their interests and ideas.
2. Take your
children seriously
One
of the main ingredients of good parenting is letting your kids know you
understand and support them. Children’s minds are always changing and growing.
One week they may want to be an astronaut while the following week they want to
be a veterinarian. These flip-flopping ideas may make it tempting to smile and
nod when your little one expresses their desires, but don’t be so quick to say
no.
If
your child wants to be a pastry chef and asks you if they can sell cupcakes in
the neighbourhood, why not say yes? Yes, the mind of a child can change from
one minute to the next, but parents help their children grow and explore new ideas when they take their requests seriously.
3. Teach
children the value of money
In
order to build a thriving business, children need to learn how to manage their
money. A child who receives an allowance of $15 will have $60 by the end of the
month.
You
can help teach your child both responsibility and the value of money by
encouraging them to spend money wisely. By using basic math or putting up a pie
chart on the refrigerator, you can teach your children the importance of saving
money and investing wisely in products to pursue their goals.
“Money
is only a tool. It will take you wherever you wish, but it will not replace you
as the driver.” – Ayn Rand
4. Teach that
it’s okay to fail
In
the same survey cited at the onset, 91% of entrepreneurial students said that
they are not afraid to take risks, even if they fail.
Starting
a business is a big job that requires your child’s patience, drive, and
responsibility. Putting all this effort into a project only to have it fail can
be crushing for a young child.
It
is important for you to teach your children that it is okay to fail. Highlight
that having fun, learning and gaining beneficial experience should be the
primary goal of their entrepreneurial career, and not necessarily fame and
success.
5. Help your
child get started
A
great parenting tip for empowering kid entrepreneurs is to help them get
started off on the right track. Help them do research about similar products or
ideas. Is their pricing, right? Is there a current need for their idea or
business?
If
your kid wants to become an entrepreneur, it’s your job as a parent to help
them make it a reality. This means helping them learn how to market their
service or idea. This may also involve learning how to manufacture a product
and taking online learning classes about their interests.
6. Look for
opportunities
If
your child wants to launch a product or service, they’re going to need
opportunities to be in the public eye. This can be done through social media,
word of mouth, and neighbourhood canvassing, and even getting a hold of your
city’s news station to have a piece done on the local child entrepreneur.
Taking
your children to such things as trade shows can also give them the opportunity
to network with like-minded entrepreneurs. There are also various online
learning classes that can help parents and children discover how best to market
a new product and make business connections.
“In
a world that changing really quickly, the only strategy that is guaranteed to
fail is not taking risks.” – Mark Zuckerberg
7. Make it fun
There
are many successful child entrepreneurs with thriving companies today. At 12
years old, popcorn giant Orville Redenbacher, began growing his own popping
corn in pursuit of the perfect kernel.
While
his passion for popcorn did earn him enough to pay for his college tuition, no
doubt, Redenbacher wasn’t thinking that he was going to turn his love of
popcorn into a billion-dollar market. He was just having fun.
The
same should be true for your little one. Childhood is a time for being
carefree, not to be weighed down with worries and anxiety. One of the best
parenting tips for encouraging little entrepreneurs is to make having fun
the primary goal of their pursuit.
Follow
these 7 parenting tips to help empower your child to pursue their
entrepreneurial goals. Teach your kids the value of money, remind them that
building a business should be fun, and get them involved in online learning
classes to make the best of their budding entrepreneur spirit.
Kindly Note : All ideas and materials presented herein are for informational and educational purposes only, and is not intended for commercial or trading purposes. Neither does it mean to misguide anyone. Kindly make informed decisions on your own risk. Neither livettcelearn.blogspot.in website nor any of its owner shall be liable for any errors or delays in the content or for any actions taken in reliance thereon.
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