What To Do When You Want Your Kid to Become an Entrepreneur

The current education system does not give room for lessons on entrepreneurship and so you as a parent are given an enormous responsibility of educating your kid on these skills. The current school system does not align with the 21st Century student needs or the changes that are going on in our world socially and economically.  In addition, the unknown jobs of tomorrow do not match the educational lessons being taught today and so, the common belief that your kid may secure a job right after college is not realistic. Colleges might not always be the best option for your kid. There is also a high chance that your kid does not work in the field he or she studied but rather work in a low-paying entry-level position. With all of these reasons above, it is best to prepare your kid and encourage them to be part of the next generation of innovators.

Below are some steps you could teach your kid in order to inspire them and encourage them to become entrepreneurs:

1. Encourage divergent thinking

To bring out that character of entrepreneurship your kid, you have to make them curious. Encourage them to ask questions, research and to ask for further information. They need to take notice of what is happening around them especially what happens in their daily lives. For example, you could ask your kid to find solutions to problems that you see around you. So if you see a problem that worries you, you could just draw the attention of your kid and ask them how they would solve the problem or perhaps make it better. Let your kid give their opinion and let them analysis and make connections on how to create a solution. Do not give them ideas or correct them when they go wrong, instead you could just give them hints after they are done and you could both ponder on the matter together. Try to use any opportunity that comes your way to practice divergent thinking at home.

2. Create a safe-space for ideas

When there is no condemnation or fear, kids feel free to express themselves. The only way divergent thinking can strive is only in a place where everyone is free to think and express themselves without thinking of any consequences. So, where there is a chance for risk-taking and fast failure with no condemnation, there is a lot of ideas to share. Kids are more likely to share ideas when they are safe and this allows them to step out of their comfort zone to take up challenges. Try to create a safe space or room or even a time when all ideas are allowed and valid so that this can support divergent thinking and increase creativity.

3. Challenge Ideas

Teach your kid to not be satisfied with the norm. Encourage your kid to ask why we do things in such a manner or time. Teach them that not to conform to a system or process that is not right and to always think of ways to make it better. Teach them to look at problems and find different solutions. They need to know that when we make challenges, it forces us to begin thinking of alternatives. By doing so, we create solutions that will help everyone.

4. Encourage leadership through ownership

There I nothing which makes a person motivated than knowing that his work or effort is being acknowledged and appreciated. So to inspire your kid to become an entrepreneur, always praise them for their unique ideas because that means that they are doing something worthwhile. It will boost their confidence and keep them interested because it gives worth to their ideas. Some of the things you could do to make them feel special are by adding titles to their solutions. So, if your kid found a solution to a problem, you could name that solution, for example ‘Michael’s Solution’ or any other name that is special to your kid.

5. Create an Idea Box

This is a simple system that you could apply at home for your kid in order to give recognition to their ideas. It allows for their ideas not to go to waste but to be preserved and valued. You can simple have a box of any suitable size and shape at home which will serve as an idea box. All that is required is for any family member who has an idea or solution to write it down and throw into the idea box. At the end of the week, the family or you and your kid as the case may be, will go through the various ideas together. This system encourages time sharing and brings everyone together. It also fosters communication and builds the confidence of your kid. By being part of the idea sharing, you are indirectly teaching your kid that thinking and sharing ideas is good and this will increase his or her desires for entrepreneurship.  You must also encourage your kid to take action.

6. Provide experience

It has been said that experience is the best teacher. Your kid needs to see and feel things first hand. There are different types of experiences that your kid should be open to in order that he or she may build up confidences and other skills. The first is to take your kid to different places to explore. This builds up curiosity which is good at the age they are. This gives you the opportunity to pay attention to your kid’s curiosity and to guide them towards those interests. As they begin to grow, their desire for entrepreneurship will begin to grow into a natural passion. So also will their creativity and innovation will also come to the forefront and then they will participate in the things that they enjoy doing.

Another experience is that of failure. If your kids do not learn to handle failure early, they will quickly be discouraged from entrepreneurship later on. Let them learn from their mistakes and show them how to get back up on their feet. They will have to be taught how to self-reflect on what they have learned and move on. They will also need to express how they feel and learn to handle these emotions. Failure helps kids to be resilient in any situation and its good for critical building of self-confidence and healthy mindset.

Furthermore, your kid will need to get experience on financial literacy. Schools do not teach about such things and so it is impossible for your kid to know anything about finances. Introduce money early on and give them goals and responsibilities for managing finances. Show them the importance of saving and investing, either through open a saving accounts with them etc. You could reward them financially for certain responsibilities they carry out successfully or offer to match their savings.

7. Be a model

The first teacher in a kid’s life is their parents most of the time. Being their first point of contact for the earliest part of their lives, they quickly assimilate their parent’s behavior. If you want to encourage your kid to be an entrepreneur then make sure to encourage good and meaningful relationship. Be exemplary in your work place, in your neighbourhood and other places. People like to work with and acquire goods from likeable people. So, if you want your kid to be successful in their business then teach them to be compassionate, charitable and attentive and humble.

8. Communicate

You need to talk to your kid. This could be a causal talk during your free time or safe space where you both talk about each other’s day. These conversations help you to have an insight into the mindset of your kid and the goals or dreams that they have. Give them the chance to express their ideas, answer questions and to ask the questions they want. Communication is the only way divergent thinking or creativity can strive and to help your kid become a successful entrepreneur.

In conclusion, by employing all of these methods on your kids, you are sure to see improvements in your kids. You might never know, but your kid might just be a natural born entrepreneur and this will be the way you could help him or her boost their interest in the field. With this system explain above, your kid will come to realize that entrepreneurship is awesome. Being your own boss and working for yourself can appeal too, especially when they realize the freedom and flexibility it offers. One last tip is that do not forget to make it fun. Kids are always going to love to play and you cannot change that, so if you want them to learn quickly try to keep it exciting. Make some lessons like a game for children. With this they are learning and having fun and it would not feel as though they are being put through studies. With the fun, it helps them to remember concepts and so the lessons will remain.