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The Entrepreneur Mindset: Start Them Young
Some are born with it and some are merely taught the makings of becoming an entrepreneur. People also say one’s decision to start a business is because of their parents. True enough, research confirms that a kid’s parents have a lot more to do with their career choice. Encourage the entrepreneurial spirit of your kids and see what you need to pass on to them:
WHY: Get your child to explore his creative side—may it be a play or a real small business. Inspiring creativity will build marketing skills as this particular skill set is important in attracting customers for your business. It will also train their mind into thinking of creatively solving complex problems.
HOW: Urge them to develop a curious mind constantly by asking questions about marketing materials around you like billboards, print, online advertisements, and television and radio commercials among others.
You can also encourage creativity by letting them play to engage their creative energies.
WHY: Failure is a good thing especially when you learn something positive from it. Allowing your child to experience failures will drive them to accomplish their goals via other means and learn from their errors. In effect, you are teaching your kid not to fear failure, which is imperative in succeeding in the entrep world.
HOW: When your kid experiences failure, don’t punish him. Instead, talk them through as to why and what led to the setbacks or failures they experienced. Teach them to fail fast and encourage them to stay resilient..
Model business behavior
WHY: Parent usually are the biggest influencers, according to most entrepreneurs, so learn to lead by example and walk the walk.
HOW: Incorporate your kid in your day-to-day tasks related to your business. Let them do simple tasks, so they can understand what’s going on and how you operate the business.
WHY: Independence can lead to self-confidence. Believing in yourself and your abilities can equate to becoming successful. Let your kid make their own choices and learn from their experiences, but of course always be there to guide them.
HOW: If they want something, say a toy or a gadget, brainstorm with them how they can achieve purchasing that item via their own means. This will stir up their entrepreneurial juices.
Teach them about money
WHY: Proper financial planning and management is a vital aspect in setting up your own business, and most schools don’t really put priority in teaching this to children. Show them the importance of saving and investing their money.
HOW: Teach them to carefully plan spending the allowances they get from you or give them a chance to earn money through chores or by setting up a bank account and teaching them how to budget their income. Another way is to have a reasonable reward system where your kid can see that hard work truly pays off.
Encouraging your kid’s entrepreneurial spirit doesn’t take much, and although it will take a while, these things can help them thrive in their lives.