David Sowah

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So far Sowah David has created 11 blog entries.

Entrepreneurial Traits in Children and How to Teach Your Child

In our fast-changing world, kids need a whole new set of skills to make it. Helping children gain entrepreneurial traits will give them a solid foundation for defining, pursuing and achieving their own success. Sharing values of entrepreneurship with your children can be a great way to teach them some very important character tools they’ll need and use for a lifetime ahead. So here are three character traits that entrepreneurship will help instill in your children and how to teach them. 1. Willingness to Experience more Babies and children are born to explore. They are free and eager to learn about the world. Playful learning is a proven way to advance academic readiness and lifelong curiosity. Let your kids follow their instincts and discover and reinforce that with interest and wonder. They see opportunities where others don’t and welcome challenges, hallmarks of success in the workplace and in life, A lot of people today have a very limited worldview and it is important that we give our kids the opportunity to explore and to gain something way more than a limited worldview. This will help them become open-minded and help them think beyond what the regular person would. 2. An Innovator’s Perspective Innovation is not only for people who will create new technologies or businesses. Kids growing up today will need to be enduring innovators, devising new solutions and approaches to problems. Permit kids to test out their ideas when playing or doing schoolwork. Coming up with their own solutions helps develop and reinforce creativity and critical thinking skills. And make sure to cultivate an environment where failure is tolerated. Innovators embrace conducting tests and know that you must fail in order to succeed Entrepreneurs need that skill. When faced with a challenge, entrepreneurs can’t just push it under the bed and call it solved. It’s important that they considerately approach the issue, address it head-on, and reflect on ways to improve in the future. 3. Optimism Irrational Optimism Is Necessary Optimistic people work harder. It’s true. In fact, research has proven that negativity severely hinders a person’s ability to engage in life improving acts. To a successful entrepreneur, this should be noticeable. Entrepreneurs are a positive group, afflicted with the 'optimism bias,' a tendency to view the glass as half full and not have empty.  If there’s one trait associated with entrepreneurs, its optimism. Successful entrepreneurs believe they can change things for the better through their own efforts. Being optimistic confers real life, career and health advantages. To promote optimism, frame the day in a positive way, model optimistic thinking and problem solving and develop gratitude. 4. Self-confidence A belief in yourself and your capability to get through life’s challenges is the building block of adult success and a huge section of children’s healthy growth into adolescence and young adulthood. Entrepreneurship embodies self-confidence based on your own interior encouraging factors better than perhaps any other activity. It teaches kids the importance of believing in their ideas and believing in their ability to [...]

By | 2018-08-23T12:26:07+00:00 August 23rd, 2018|Uncategorized|0 Comments

How to Help Your Kids Start a Business in Cape Town

Starting a business is not for everyone. Just because you can, doesn’t mean you should. Starting a small business in South Africa requires you to invest time, energy and patience.  But more than anything else a Start-up needs passion, commitment and a clear sense of purpose. If you have what it takes and are willing to do the difficult things, then you should start your own business. South Africa is IRREGULAR among developing countries. It is both a developed country with good infrastructure and also a country with huge social and economic problems. There is a wide gulf between recipients of development aid on the one hand and skilled professionals on the other. So as a South African entrepreneur you’ve come up with a business idea and believe that you have found a gap in the market, the next question is how to start your own business? There are a number of processes that you need to go through to start your own business in South Africa. However, if you do your research and practice due diligence then it can actually be quite simple to start your own business. In this article I am going to share some tips on helping your kids start a business and the step you should follow. 1. Start with a Viable Idea Start thinking about whether your core idea makes a viable business. How do you know that your idea make viable business, you don’t, you should always take a step back, try to be honest and real with yourself and ask these questions. Does anybody need (or want) your product or service? How bad is the need, or how much do they want it? Think about it in common sense terms. The intensive market research will follow Will they pay for it? And are they already paying for something else, do you think that they leave that service and become your customer, Think about it in your case. Is your strategy or plan going to work for everybody? The answers to these questions may seem obvious, but the point of this exercise is to give yourself a reality check. Essentially, you’re asking whether there is a market for your product or service. If you’re laying out a lot of money, and especially if that’s somebody else’s money (like investors), it is good to do some background research. 2. Determine Ownership There are no formulas for ownership, and it may seem awkward at first, but if you’re partnering with someone, it is s a thousand times easier and better to do it now than to wait until after the money starts flowing. Determine the percentage of ownership, who does what, whose idea it was and how much that matters. There are no formulas for ownership. The closest thing to it is money spent, especially if you add in time spent and work that into a money value. This helps the kids share learn to share responsibility. 3. Name the Business Naming a business is [...]

By | 2018-08-16T15:43:38+00:00 August 16th, 2018|Uncategorized|0 Comments

Signs that Your Child is a Budding Entrepreneur

Many parents will say that they'll be happy as long as their children find happiness in life. But in reality, most parents have confessed, they genuinely hope they are raising strong, independent, and confident children. Parents don't want to rely on hope or a crystal ball to figure out what kind of person their children will become. Thankfully, there are early signs that your child could be a natural born leader, so you won't have to just cross your fingers and wait to find out. Maturity is a beautiful thing; it helps us grow and cultivate the areas of our personality that need to be improved upon. Even our God-given qualities, when used incorrectly, can breed rotten fruit, but if sharpened and allowed the ability to be sculpted, they can really show their true beauty. Knowing what your kids like and noticing certain qualities in them when that are young can help you help them grow and become one of the best in whatever they do. Here are some of the signs you might notice in your child that will let you know that they are a budding entrepreneur. 1. Child entrepreneurs look at the world differently They focus. You could even say that they are hyper-focus on their projects. They’re driven to see what they can do, what they can earn, and how far they can take their ambition. They usually don’t fit in, child entrepreneurs try to change the world the way they see it. They constantly have new projects in the works, and their thoughts are almost always money or business-centric. These children are driven by challenge and are unwilling to surrender, simply because a project has failed. That failure will often spark their fire and fuel them further. 2. They are super creative Most kids that ended up inventing something were challenged either by a friend or someone else. But inventing something takes exactly that creativity. If your child draws or is musically talented, studies show they likely have a higher than average IQ, this added bonus that will help your child to become an entrepreneur. Young kids love to do crafts and come up with new ideas or stories. But if your child is super creative beyond just drawing a cool picture, you may be raising a young entrepreneur. In order to be a successful entrepreneur, you must have good ideas. If your creative child is always coming up with great ideas and doing creative things, they one day might become a successful entrepreneur. How does your child play? Do they like to build things with their hands like Lego’s or magnets or come up with new rules to a card game? Children who love to create, experiment, and invent often grow up to be successful entrepreneurs. 3. They are naturally curious If your child is filled with questions, this is a sign of entrepreneurial spirit. Entrepreneurs are always wondering why things are the way they are, and how they could be done better. Constantly [...]

By | 2018-08-16T15:29:30+00:00 August 16th, 2018|Uncategorized|0 Comments

Benefits of Helping Your Child Start a Business in Johannesburg

Johannesburg is South Africa's biggest city and capital of the Gauteng province. If you ask any successful entrepreneur how to start your own business, the answer is most likely to be that the first thing you should do is to write a comprehensive business plan. A business plan will help map out your business strategy, give you and a hint of the profitability of that business and offer you and those who might invest in your business an indication of how successful that business is likely to be. But more than importantly startup needs passion, dedication and a sense of purpose. If you have what it takes and are eager to do the complicated things, then you should start your own business, Today I am going to share with you some of the reasons and benefits of helping your child start a business in Johannesburg and I will also give your some startup ideas and how to start business. Starting a business in Johannesburg is a lot of hard work. It requires a massive investment of time, energy and finances. You need to cautiously assess your market and be honest about your skills and experience Reasons for Starting a Small Business Starting a business at a young age in a very good thing it does not only help you learn about money and making profits it also helps you learn other important life lessons along the way  Owning and running your own business in South Africa in order to provide employment and produce wealth. Your wealth represents potential jobs for numerous people and it can lead to a better life for many South Africans as well as for yourself. You should always consider wealth as a means of improving living conditions everywhere. Remember, you have a duty toward your associates, employees, and the public. Use your capital to benefit your employees, customers and their families. Benefits of Starting a Small Business Helping and teaching your children how to do business eventually comes with lots of benefits and blessing. Let your kids use their current skill set and expertise to become your own boss. You set the rules. You set the deadlines and you decide how to run your business. You don’t need permission to execute business ideas or take time off, you can just do it! You can work from anywhere at any time. You don’t need to be stuck in a box listening to your colleagues complaining about life and management all the time. Owning and running your own business in can be very fulfilling. You’ll enjoy the fruits of your labor and can feel proud of your accomplishments. Many small business owners enjoy the respect they earn from their peers for having the courage to go out on their own. Helping your kids Building their own trade name can mean passing on a heritage to their children. Your Grandchildren will be motivated to do great things and follow in their parent’s footsteps. Owning their own business will force [...]

By | 2018-08-16T14:41:40+00:00 August 16th, 2018|Uncategorized|0 Comments

How To Help Your Kids Start a Business in China

China is the second-largest economy in the world, and it stands poised to become the largest. China's geopolitical power is also developing at a stunning pace. It has been predicted that China will have more impact on the world over the next 20 years than any other country. The world order is changing, and China is becoming its leader. But, contrary to the belief that China's economic miracle is solely due to its government, the reality is that it has been fueled by its people's pent-up ambition and entrepreneurial spirit. Private-owned companies account for about sixty percent of the country's gross domestic product (GDP) and about 75 percent of the country's jobs. The real secret to the Chinese economy s outstanding development has most to do with the nature and attitude of the Chinese people. Entrepreneurship can teach children a range of skills from creativity to critical thinking and problem solving, yet there are potential challenges for young people and their parents, according to a clinical psychologist. Helping your kid’s start a business in China is a really good thing because the child will learn a lot and the business has the potential of growing into something really big. In this article I will not just give you tips on ways to help your kids start a business but, I will also list some pros and cons that come with kids starting a business: Starting a Business with Young Kids Helping your kids start a business can be fun and the business could grow a become bigger than expected but in reality, not all good things come easy so before we get to the part where I drop tips on helping the kids start a business I am going to show to some pros and cons. Pros While young children need lots of love and attention, their needs are almost always straightforward and can be provided by other caring adults. If you are too busy to spend time with your kids, they'll likely be fine in the care of your spouse, grandparents, nannies, or other caretakers, so it is advisable to spend a lot of time with your kids. This way, you get an insight into everything that they are doing and you get to be the one to help them with the business with no or less stress. Cons The parenting burden may fall unevenly on your significant other or other loved ones, requiring sacrifices on their part that could lead to resentment and conflict. Hiring external care is a viable but expensive option, costing more. Tips To Help Your Kids Start a Business 1. Come up with a good business idea Think of things you already know how to do, want to learn to do or simply enjoy. If you mow your parents' lawn or wash their cars, for example, these are skills you could turn into your own business. You could also try making and selling crafts or jewelry, running a babysitting service or selling baked goods. [...]

By | 2018-08-07T14:00:36+00:00 August 7th, 2018|Uncategorized|0 Comments

How to Teach Your Children Entrepreneurial Skills

Children are told many things on a daily basis. They are giving the command like, Sit up straight. Chew with your mouth closed. Say “please” and “thank you” Often, they’re so busy listening to the boss or facing the consequences for not, this hinders them from learning to be their own boss. Trust me; your kids are definitely thinking about calling the shots for once, every human being loves the feeling of being in control. The sweet independence of being your own boss is what entrepreneurship is all about. That’s why kids and entrepreneurialism is such an excellent match. It practically comes naturally to them. Teaching children how to be entrepreneurs at an early age is a great way to encourage them to be self-sufficient, even if it’s starting out with something as small as a lemonade stand or a summer job. Being an entrepreneur can also teach kids about money, success, failure, communication, and even the importance of perseverance. Entrepreneurial skills can seem somewhat specific at first, but upon closer inspection, you will see that these skills are very beneficial in all aspects of the lives of the kids, not just in the business world. Kids have the ability and capacity to develop key skills and behaviors to lead a successful life. In fact, they are more capable of learning than adults because they have fewer mental barriers and less to worry about, to tear down in order to develop them. Here some entrepreneurial skills you can teach your kids to help them lead a successful life: 1. Resilience Life is full of disappointments and setbacks and developing a thick skin is very important to get on with life, Every entrepreneur needs resilience and determination to get back up whenever the take a loss. An important part of entrepreneurship is learning about failure and not fearing it. Prepare your kids to develop a resilient spirit and handle challenges life sends their way. You will feel better and more confident in them while helping them avoid anxiety and self-doubt. Allow your kids to express their feelings and emotions and not to suppress them. 2. Creativity and innovative thinking Entrepreneurs need to be creative. Solving complex problems can be tricky. Creative thinking is how new ideas are developed to solve such problems. They need to have unique mindsets and have the ability to solve complex solution with ingenious solutions. Make time for creativity and thinking up ideas with your kids. Questions spark inspiration, like: “What could be done differently to make this better?” or “How many ways can this be solved” Ask them lots of questions and help them come up with an answer together. Creative thinking is the key to innovation, and the world is changing so quickly that people need to be innovative to stay ahead and be successful. Creative thinking is the foundation upon which entrepreneurs build the empires. Allow the kids to play, most of the time it is when they play that they are able to [...]

By | 2018-08-07T13:37:29+00:00 August 7th, 2018|Uncategorized|0 Comments

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 [...]

By | 2018-07-26T17:37:02+00:00 July 26th, 2018|Uncategorized|0 Comments

Why Children Should Be Taught Entrepreneurship

Our education system is put in place to prepare young people to build successful lives. They should be ready for the broad range of possibilities ahead of them, which includes working for others, starting their own ventures, and doing a whole lot of things in the community. All of these options require a depth of knowledge in their chosen discipline, as well as creativity, problem-solving ability, leadership skills, experience in working with effective teams and being adaptable to an ever-changing world. It is not a coincidence that these are the same capabilities that employers say they want in college graduates. According to research, they are also the deciding factors when employers compare candidates with equivalent backgrounds. Entrepreneurship education will prepare to identify a problem, address challenges and opportunities. It is clear that the world needs more innovation and more entrepreneurs. And the skills of entrepreneurship are also good life skills. So how do we teach kids business to nurture that next generation of dreamers? Does the World Really Need More Entrepreneurs? Small businesses are actually the back bone of the economy. Almost half of the private sector workforce is employed by small business and in recent years, small businesses have created a lot of jobs. Two out of three jobs are created by small businesses. Most of the innovations and technology in this century have come from sketchy entrepreneurs. For example, Steve jobs started apple in his basement and it is now one of the world’s leading tech companies. The world sure needs doctors, accountants, and lawyers but we also need entrepreneurs too, they are the ones that play a vital role in developing the world. This is why we need to think about how we can pay it forward and help inspire, mentor, and empower young girls and boys to think like early entrepreneurs. The Issue with School Grading is one thing that highly discourages entrepreneurial thinking. The school system wants students to focus on the task assigned, not go off and dream up their own projects or become child entrepreneurs. The school system forces the kids to follow on direction, it limits their ability to explore and look beyond things to find opportunity following direction is rewarded, and deviating from it or coloring outside the lines is met with punishment. The kids are encouraged to pursue traditional caress, ones that will require a university education or some type of institutional training. I am not saying education is not important, or that I’m representing every teacher in every school system in the world. Math, English, and science are important, and of course, plenty of teachers inspire kids to follow their dreams. I just think that the school system discourages entrepreneurial thinking, I think that all they do is prepare students to grow up and become employees and this is not bad, I mean not everyone can be an entrepreneur. How Do We Teach Kids Entrepreneurship? Teaching your child to be an entrepreneur will take patience, time and you will [...]

By | 2018-07-13T17:06:02+00:00 July 13th, 2018|Uncategorized|0 Comments

Secrets to Helping Your Child Start a Business

Kids that show a strong interest in business at an early age should be encouraged to pursue their entrepreneurial dreams. One of the best reasons that child entrepreneurs should be encouraged is because their business desires require them to obey their parents and be respectful of others if they want to succeed. There is a great deal of discipline that goes into being an entrepreneur, especially at a young age. When a child decides to go out and start a business, that child will need the guidance and support from their parents. Parents should also take the time to find the types of resources that they need to guide their children to financial success. Parents, your kids want more money and they are willing to work for it. Kids are always looking for ways to make extra money. So, why not empower your kids to create wealth by launching their own business. Helping your child start a business is a good way to teach them the value of money and introduce a profitable moneymaking mentality that they will use for the rest of their lives. Here are some tips and guidelines to help you assist your child in starting a business 1. Talk with your child about their passions Talk about their favorite things and what they are good at doing. There’s at least one thing there that they can monetize right now. For instance, if your youngster loves playing with kids and watching over the babies, they should consider running a babysitting business. Or if he is really handy around the house and likes the outdoors, maybe he’ll be interested in running a lawn care service. Maybe your kid is incredibly outstanding and already tossing around some business ideas, talk with your teens and young children about their business ventures and encourage them to pursue their dreams. As a parent, it’s good to stay open-minded about your kid’s passion. It is better to allow them to pursue their dream than to force your own dream on them. You have to keep in mind that they are kids and they are still learning about the ups and downs in life and they are still getting used to the world, so while helping them it is advisable to let them make their own decision and deal with the results, this helps them learn to think and also get back on their feet if something does not go their way. 2. Keep an open mind and remain supportive I have seen a lot of young entrepreneurs whose parents tell to get a real job. If your child is showing passion to launch his/her own business let them proceed, they’ll figure it out eventually. Do not discourage their drive. Let them go out there and see what they’ve got. Support their decisions by getting them business materials to help them run their business better. Several successful entrepreneurs have gotten their first business loan from parents. If this option fits, go for it. Whatever [...]

By | 2018-07-13T15:12:12+00:00 July 13th, 2018|Uncategorized|0 Comments

How Kids Can Successfully Start Their Own Business

Kids these days are led into believing that the best or only way that they can be successful in life is to pass through the regular education system by going from nursery and getting into a good college. While this is true, it also has its issues. The problem with the college system is that there are too many people doing the same thing and over the years, it has led to unemployment. There are other ways to become more successful and one of the ways to do this is through entrepreneurship. Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business. The people who create these businesses are called entrepreneurs. In this article, I am going to give you some points and ideas to help your children start their own business, I will also point out some of the problems you might face and I will give you steps to ensure that you won’t make a silly mistake and deal with these problems if necessary. This article won't necessarily be about making money but starting a business that provides invaluable life experience for kids and also develops their practical skills like money management, communication and problem-solving. If your child shows interest in starting a business, here are some tips you might need: 1. Allow them to pursue their passion It is important to make sure that your child is passionate about what he or she is doing; you should let them enjoy whatever they are doing. This way, they are least likely to lose interest and they continue to work gaining more experience and the business will continue growing. Ask your child what he or she wants to do and if they don’t know, tell them to write a list of their favorite things to do, For example, if your kid loves making colorful candles or if your child is very good a painting, you can start them up by selling candles or their paintings online. Eventually, they can also hold a workshop, teaching other kids how to do what they can and also make some money while giving lessons. Let your children know that it is okay to think outside the box, let them know that not all ridiculous ideas are bad ideas and in the end, it’s a learning process, so results don’t matter entirely. 2. Make a plan or set your goals Lack of direction and planning is one of the problems people face when setting up a business. Most people think all they need is a good idea and they run with it without planning or setting any goal and it only leads to more problems. This problem prevails because of not creating a thorough and detailed business plan. Many young entrepreneurs are so excited about setting up their very own business that they fail to prepare a proper business plan. It helps in focusing on the goal and vision of the business. It determines the [...]

By | 2018-07-13T14:51:11+00:00 July 13th, 2018|Uncategorized|0 Comments