Entrepreneur as a growing child.. What does this mean?
Allowing your children to learn from the best teachers in the world is the most giving opportunity out there, from their parents! As they grow, give them more responsibility yet to have them not just feel that what they are doing is of importance yet they are earning a small bit in the process.
Young entrepreneurs have less to lose and can be more fearless. “Kids who have started a small business, whether it succeeded or failed, will have greater freedom in adult life,” Bakke says. “They won’t be limited by the mentality that after they’re educated, their only option is to find a traditional day job. They can also more easily start a small business on the side as an adult to earn more income, which also makes for more freedom.” Check out these tips to encourage your budding entrepreneur.
- Focus on customer service. Old-fashioned customer service is still the best way to gain and retain customers. “Many adults still don’t understand the importance of quality customer service in a small business, so as a child, it’s definitely important to focus on,” he says. “Perform at a high level at all times, be punctual and courteous, and always thank your customers for their business. This is a great way to expand your business and build your reputation.” Teach your child how to communicate with clients politely and respond to emails and phone calls.
- Keep it simple. One of the great things about kids is their boundless energy and enthusiasm, but they often have bigger dreams than they can realistically accomplish. Encourage your little champ to start with one simple plan and execute it. You can always expand later, but it’s better to start small and build slowly than back out of a project that’s grown too large to handle. “Focus on what you do best and keep simplicity in mind with every aspect of your business, and you’ll be much more likely to succeed,”.
- Find support. When it comes to helping a young child achieve a goal, most adults are happy to pitch in. Talk with teachers, friends and business colleagues about your child’s ambitions. You never know where support will come from. Support comes in many forms, including financial backing, advice, used equipment or marketing tips. Encourage your child to learn from everyone.
- Embrace failure. Almost every successful entrepreneur has experienced a few failed ideas. If one endeavor bombs, try another one. Each experience offers valuable educational opportunities and hopefully some fun as well.
- Market your product. Young entrepreneurs usually don’t have the funds to put together a full-fledged marketing campaign, but with a little help, they can come up with an effective strategy. Word-of-mouth advertising is a great way to start. Make business cards and ask customers to spread the word about your business. With a little help, kids can design fliers or even create a website.
Kids Should Learn for a Successful Life
A belief in yourself and your ability to get through life’s challenges is the building block of adult success and a huge component to children’s healthy growth into adolescence and young adulthood.
No matter how much you want to protect your children from feeling pain, disappointment or failure — they will. It’s a certainty for them like it was for you. Teaching your children the values of entrepreneurship will help them to learn about failure and not to fear it. More important, they’ll learn how to recover from it
The world is evolving and the workplaces of our generation are already drastically different than that of our parents and their parents. Rare is the millennial who thinks today that they will start with a good company out of college, stay there to retirement and earn the gold watch. The economic culture of today simply doesn’t reward that kind of behavior and you shouldn’t want your children to settle for that
Whether your child earns $20 or $2,000, the process of running a business should be fun and engaging. If it starts to feel like a chore, for either you or your child, it’s time to reevaluate.