The Importance of Teaching Kids Entrepreneurship

Teaching entrepreneurship to kids is not just a good idea, I believe it should be a part of the school curriculum. This is because it teaches children essential life skills and the earlier they are introduced to the world of business, the bigger the impact on their lives. The skills that they developed by teaching entrepreneurship set the stage for children to have the ability to thrive. The goal is not to manufacture cookie cutter kid businesses. There are underlying values and lessons that children learn through entrepreneurship which gives them the skills that will carry them not only through their academic careers but in their personal and professional lives as well as they grow and become adults.

Being an entrepreneur is a great way to make a living and is one of the most enjoyable careers to pursue in one’s life. A lot of entrepreneurs wish that they started at a younger age and many believe that some form of entrepreneurship should be taught to students in school, I agree with them. Getting children involved in school and learning can be as easy as teaching them to be entrepreneurs. The skills learned in starting a business are the same ones that make people successful in life. Children have the opportunity to build communication and organization skills, learn how to be a leader, and how to be a self-promoter, but they also learn much more.

Exposure to the world of business and entrepreneurship helps children to develop their overall self-confidence. In order to pursue an entrepreneurial endeavor, it is essential to be able to confidently trade yourself, your product and your service. When learning about entrepreneurship, children are taught to express themselves to other people and how to get their points well across in order to close a deal. Teaching entrepreneurship also often involves communicating with people who a child might not necessarily have come in contact with in any other circumstances. Development of good communication skills is integral to business.

Why is Teaching Entrepreneurship to Kids Important?

Becoming an entrepreneur is not easy it takes years of practice just like any other profession it takes time before you can become a mentally and physically matured entrepreneur. Entrepreneurship teaches necessary life skills, including communication, financial literacy, marketing skills and risk management all these will help young people grow personally and professionally. Entrepreneurship is about much more than business. It is a way to think of seeing opportunities and of exploring multiple solutions to problems and skills which can be applied to life.

Here are a few vital reasons why it is important:

1. Encourages Free Thinking

Recognizing and nurturing entrepreneurship in children gives them a chance to think freely and helps them gain self-confidence in their ideas and abilities. Understanding and applying the principles of entrepreneurship helps children realize the outcome of their efforts, unlike that of introducing chores, which are parent-directed. When children do businesses on their own, they learn to try and they get to see the measurable outcome of their efforts. They also learn that they will fail sometimes and that is okay because it is a learning process.

2. Communication Skills

A lot of kids struggle to communicate with anyone other than their friends. Talking to adults usually involves avoiding eye contact and giving short answers. The goal seems to be to get it done with as soon as possible. Entrepreneurialism is a good way for kids to improve their communication skills. It places the child in a situation in which they will need to deal with all types of people and not just to their peers. They need to work with customers, vendors, employees, and advisors on a regular basis. This regular interaction helps them develop more confidence when communicating. It also underlines the benefits of being able to communicate well as the child will see direct results from good interactions.

3. Problem-Solving

Problem solvers are in high demand, Always. Entrepreneurs learn to solve problems on a daily basis. To launch their business they usually have to think of some problem that they can solve better than others and how to make a common task easier, some service more enjoyable or a product better. They usually have to solve a lot of problems to get their businesses to take off. Common obstacles include things like lack of money when starting or lack employees to do all the necessary work. And once their business is up and running there are the common problems that any business person deals with like unhappy customers, late shipments, employees quitting. Learning to become an entrepreneur even if it is on a small level, will give your kids an understanding of the importance and process of solving problems.

4. Leadership

Most Parents have always dreamt of their children becoming president there’s been a desire to see our kids grow up and become leaders. Running the country might be the goal you have for your child, but being able to lead people is an important skill for the everyday life. Entrepreneurialism builds excellent leadership skills. The entrepreneur must have the ability to lead because often they are working in an environment where not much is figured out. There is no established infrastructure for their business, there is no mature market for their product or service and they don’t always have a lot of money to work with. The entrepreneur, if they want to succeed then they must get other people to buy into and follow their vision for the future. They will have to get people to take a step of faith with them and work hard to make her goals materialize and that is what leadership is.

5. Self-worth

The entrepreneur must be able to create value, whether that means building a better table, offering a unique service or providing a product that is less expensive, faster or better. Learning how to do this helps a child understand that they can make or do things that other people consider valuable. With that understanding comes a personal sense of worth.
Also, engaging in entrepreneurial work gives a child an opportunity to solve problems, come up with ideas, deal with people and make an income. All these things bolster their sense of worth.

6. Networking

One of the most valuable things for an entrepreneur is the network of friends, colleagues, and influencers. Businesses are not created in a vacuum. Much like a child, it takes a group to raise a startup. Having a large group of people you know, locally and internationally or online provides a wide range of people to reach out to for advice, to pitch new ideas, to hire for positions, to make introductions. Children can be encouraged from a young age to be interested in people. It starts with having them sit in on conversations between their parents and other adults, listen, and ask questions. If you’re part of a community group or church, encourage your son or daughter to be sociable by approaching and talking to older people in addition to kids their own age. Some kids may be naturally shy, but with practice, even the timidest of children can come out of their shell and learn the value of making new connections.

Conclusion

It is never too early to adopt useful habits and valuable life lessons. Whichever way you go or tools you use, you can infuse so much knowledge in your children and make them believe in themselves. Encourage your little ones to try their best. No matter what happens with their business, even if the outcome isn’t as planned; tell your young ones to consider that experience as an investment in themselves and that they’ll benefit from it later in life.