Nov 23

Holiday Activity: Kids and Parents Start a Small Business Together

The holiday season is around the corner and with it comes a well-deserved break from work and school when the family can spend quality time together. Why not take this opportunity and start a small business in tandem with your child/ren?

Miss M Online Classes is a business educational project for kids 8+. Its goal is to advocate kid entrepreneurship as a way to discover children’s talents, pursue self-learning, help them develop confidence to innovate and commercialise great ideas that will benefit people, communities, and the world.

Sure enough, parents’ involvement and supervision is a must when children start their journey to make their own money. Rather than limiting the role of the parents to approvals and regulations, we would like to suggest a fun family activity where kids and parents become business partners in launching a real small business together these coming holidays!

Kids and Parents Strike Entrepreneurship Partnership

Parents are the major role models and they have everything to set great examples for their children to nurture entrepreneurial mindsets. By becoming business partners, parents help kids develop valuable life skills, such as:

  • Thinking outside of the box by identifying problems and finding solutions
  • Overcoming the lack of knowledge and expanding the learning zone
  • Taking responsibility and self-organisation
  • Enhancing time management, negotiation and communication skills
  • Facing challenges, staying positive and learning through mistakes.

Moreover, when the school resumes and children’s business activities will naturally reduce, parents can help keep the business going so formal education remains a priority for kids.

Kids and Parents Reach Agreements Related to Business Activities

Before you start, agree on the rules that will work both ways – for you and your children. Ideally, you should work alongside each other, with everyone having a voice and the right to persuade the other party. Healthy debate is encouraged to find the best solution for the business. It goes without saying that adults must take responsibilities of managing all legal, regulatory, registration activities, placing orders for supplies, etc.

With that in mind, identify the level of autonomy for your child and discuss the responsibilities you are happy for them to be in charge of. It may be a good idea to create a list of areas that are managed by parents, by children and jointly. The latter can include matters related to the product development, packaging, business plan, descriptions, blog articles, etc. Even creating posts on social media together can be viewed as a way to set up your child for safe and independent use of the social media in the future, if they have not had much exposure yet.

Make the list as detailed as possible so everyone is aware of their part in the entrepreneurial quest. And of course, parents should still have a great degree of supervision of their children’s activities even if they are managed by kids.

Starting a business with children – Next steps

This is a general overview of how parents can help their children become entrepreneurs. We’ll suggest general tips and you are free to make adjustments as you go to suit particular needs of the business you both decide to pursue.

The next series of blog articles will be dedicated to general steps parents may consider with their children in order to come up and commercialise their business ideas. If you want to know more about certain topics, we encourage you to enrol in the Online Marketing Course For Young Entrepreneurs which introduces core marketing and business concepts with steps of creating your very own value proposition in simple terms using life-based marketing examples.

Step #1 - Discovering business ideas and true passions.
Step #2 - Researching the market and validating the idea.
Step #3 - Creating a business plan.
Step #4 - Branding and communications.
Step #5 - Selling through online channels.

Thank you for joining us in this holiday activity!

I wish you great success and can’t wait to hear your stories ad experiences along the way!

For any questions, please feel free to contact me at  

Yours sincerely,
Julie (Miss M :)  

Disclaimer: The objective of this initiative is to encourage family activities where kids can learn valuable life lessons from their parents. It is parents’ responsibility to secure all required approvals and meet legal and regulatory requirements that are appropriate for your business. All articles are aimed at adults 18+.
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