The past few years' events have allowed us to learn a lot about ourselves as we have had time to consider our goals and dreams and changes in how we work for companies and ourselves. Have you started your own business, or would you like to begin one? Have you realized that small business ownership is viable for your children to pursue as they choose career paths toward their futures? Even if your children are very young, there are some things that you can do to encourage them to follow a different approach and become small business owners or entrepreneurs! Here are five fun ways to encourage kids to become entrepreneurs.
Encourage Children to Pursue Hobbies and Passions. Ideally, your child's business venture will be based on a talent or favorite hobby. You have heard the saying, "Do what you love, and you will never work a day in your life."? While that isn't 100% accurate--all work involves...work...but it does remind us that enjoying what we do makes the work day much more bearable! Encourage your child to pursue a variety of talents and hobbies. You never know what may happen. He could turn that artistic creativity into a graphic design side hustle or, at least, develop an enjoyable interest in something that could prove to be a lifelong activity.
Be a Small Business Role Model--Or Find One. If you run a small business, you have a ready-made opportunity to teach your children the many aspects of your business from the ground up at a young age. From learning about marketing and sales to learning how to do some do-it-yourself equipment or computer repairs to learning how to navigate legal issues, taxes, and daily business management tasks--sharing some of the many hats a small business owner wears is a great way to encourage your child to consider the rewards of entrepreneurship.
If you don't run your own business, you likely have a family friend or acquaintance who does own a business or a side hustle. You will find that most people are excited to share their passions with others--especially with interested tweens or teens. Finding a mentor who shares your child's hobby or talent interest may benefit both of them.
Support your Child's Ideas. I'm not saying mortgage your house or invest your life savings into a six-year-old's small business idea--but listen to them when they share ideas with you. With guidance from you or another entrepreneurial mentor, your child's idea may be the spark that ignites a long-term small business plan.
Children certainly don't have many life experiences to help them analyze business opportunities or ideas, but they have a wide-eyed optimism that sometimes offers fresh, unique perspectives. Taking a little time to help them talk through and think through a dream may bring some surprising results--even if they decide not to pursue the plan after learning to analyze the costs and rewards of a venture.
Play Games that Teach Financial or Business Skills. Small business owners must enjoy a little healthy competition if they are to see any success as entrepreneurs! Whether you are breaking out old school board games like Monopoly and Life or playing an online money games like Grocery Cashier or a business simulation game like Jewel Shop--you are likely to learn some important business and financial skills that mirror reality.
Playing Jewel Shop Game on Mortgagecalculator.org
Even if your child isn't thinking of owning a jewelry store or a hobby farm, multitasking, logic, customer service, money management skills, and risk-taking all join forces when children play business simulation games. Board games and online games are perfect ways for kids to see some of the tasks involved in running a small business in a fast-paced, fun game.
Teach Children to Embrace Successes and Failures. Enjoying success as an entrepreneur is the fun part of small business ownership. While teaching children to enjoy and manage success is an important skill, you must also teach them to embrace the occasional (or frequent) failure too. Things sometimes go differently than planned; mishaps and misadventures sometimes follow even the best-laid plans. Experiencing failures is the best way to learn resilience and perspective regardless of life and career situations.
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