Sep 24

How do I teach my child about entrepreneurship?

If you are asking this question, it means that you already have the answers about benefits of kid entrepreneurship. Thus, the question is not why, but how can a kid start a business. While there are many online resources for grownups, the options of quality business education for kids are limited. To guide you around teaching your child about entrepreneurship, I’d like to share my personal experience of teaching kids become business owners.

Like with most things in life, it’s a good idea to lead by an example. You don’t need to be a business professional to start a conversation and ask questions that inspire, challenge and show your child different sides of entrepreneurship. Your goal is to set the right expectations that do not to limit your kid, but help them look at business ownership from different perspectives. The road to running a business may be a bumpy journey (in fact it is, for many people). It is not as often described in self-promotional stories which may create an impression that the path from A to B is a smooth, upward arrow. Entrepreneurship requires lots of dedication, consistency, planning and solving complex problems, as well as abilities to overcome failures and continuous learning. But with perseverance, nothing is impossible.

By having those open discussions with your child, ask them how they view their life as a kid entrepreneur, how they will schedule their day routine so their formal studies are not compromised. How their life and life of those around them, like family and friends, will change when they start their own business. Visualising the change and efforts is an important step because it creates motivation in your child to pursue their entrepreneurial dreams. Have a chat about famous entrepreneurs and their failures.

It may be worthwhile making a trip to meet the local business owners and talk to them what inspired them to start their own business and what challenges they face every day.

Read together books about entrepreneurs, like “Shoe Dog” by Phil Knight who has an inspiring life story that led him to creating a world famous sports brand.   

Another important point to make is that entrepreneurship is not about making money fast, as many aspiring young entrepreneurs may believe. In fact, my honest advice is to never start a business to earn income, but to start it to make an impact. And to make an impact, kids should draw on their strengths and talents, plus they must love what they do. The former will help them be authentic and develop valuable solutions to address their customers’ wants and problems. The latter will equip them with consistent work discipline because when we enjoy what we do, we’re more likely to continue and not give up half way through.

In the business course for kids "Online Marketing Course For Young Entrepreneurs", children 8+ learn to discover their talents that can benefit other people. Finding their strengths and passions not only makes starting a kid business easier, but it also draws on empathy and motivates to acquire new entrepreneurship skills independently. Isn’t it a dream of most parents to see an engaged and determined child who knows what they want in life and feel unstoppable in achieving their dreams?

Having conversations about different aspects of entrepreneurship for kids works like a compass into their entrepreneurial world and answers the popular question "How kids become entrepreneurs".

And once the foundations through these conversations are set, you are welcome to explore business education for kids, like online courses at Miss M Online Classes where children learn to monetize their natural talents, learn about key concepts of entrepreneurship and marketing and how to start a business as a child.
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