Raising a Successful Child Entrepreneur - Sowing the seeds
By Andrew Loh
What is common with Cameron Johnson, Javier Fernández-Han, Anshul
Samar, Leanna Archer, Umar Brimah, Jason O'Neill, Alexandra McDaniel and
Luke Underwood? Do you want to make a guess? These are probably the
youngest and successful children entrepreneurs in the world of business!
Falling within the age bracket of 12 and 15 years, these budding CEO's are
the cream of the lot! Cameron Johnson, at 12 years old started his greeting
card printing business which had grown to sales of more than $15,000 per day!
Just imagine some of our children still playing and dirtying their
clothes. On the contrary, a few of them will be seriously honing their
entrepreneurial skills and creating ways to make money from brilliant
and innovative ideas!
The world of business is usually reserved
for older men and women. It is extremely limited to find entrepreneurs
who are in their early teens. It is not easy to succeed in the world of
business. It takes a lot of effort, enthusiasm and skills to become
successful in the world of business. Children, who are in their early
teens, always depend on their parents for money, love, care and
affection. In fact, most of them want their parents' help to make a safe
and happy life.
However, parents should let their children to
think, work and act independently so that they grow professionally
competent in their adulthood. Introducing them to become entrepreneurs
at their early age will enable them with the qualities needed to get
self-sufficient. Assisting your children to kick-start a company will
need the help of many tools that are critical to the entrepreneurship.
Here, are some of the important considerations that parents
should pay their attention while introducing their children the world of
Work on children's gifts, talents and capabilities
Every child has his or her own talents and abilities. Parents should
find out these particular characters before introducing them to the
world of entrepreneurship. Some children can work for hours. They also
show exceptional interest for that work. It could be anything, from
painting, writing, sketching, singing and playing Monopoly. At times,
they may work for hours on a specific task and finish it successfully.
You may want to note down those activities and write down in a notebook.
Next, try to link those activities to business niches and topics.
For example, you can initiate your child to a business that relates to
finance management. If your child likes to play Monopoly all the time,
you may like to use the finance niche to train him or her. Sit down with
your child to discuss this possibility. Ask probing questions and try to
find out child's reactions. It might be quite difficult to find out the
exact business niche. However, you can take your time to find out the
niche by exploring all angles.
Initiating your children to business venture
Initiating your child to a business venture is
much more than giving seed money and kick starting the venture! You
should help your children to learn the basics of business management and
entrepreneurship. This is where you will meet your first difficult
challenge. You just cannot stuff information and business strategies to
your child's mind. In fact, your child will not be ready to learn and
master all those complex business strategies! Teaching business skills
to your child means making him learn the basic of entrepreneurship in an easy way.
Allow your child to find out passion and dreams
Business is all about passion and dreams. Children have their own
dreams and goals. When you introduce your children to the basics of
entrepreneurship, you should try to link their passion and dreams to the
basic business goals. Internal motivation drives dreams and passion. If
your children have an internal motivation to achieve something, they
will try to link to their goals and objectives. You should try to find
out what is driving them. For example, a child may have an internal
motivation to become an industrialist. He or she will have an internal
motivation that propels them to reach that goal post. In fact, they will
act as an industrialist when they are young in their age. They may play
games that mimic an industrialist or an entrepreneur who runs an industry.
Meeting challenges and confronting risks
If someone wants to succeed in life, the first thing to master in life is
meeting difficult challenges of life and confronting different types of
risks. To succeed in a business venture, one should possess the courage
to face difficult situations and challenging scenarios. Children be
allowed to learn the basics of handling and managing difficult
situations those are so common in everyday business field.
Teach the basics of finance
Financial intelligence is most critical
skills for everyone to survive in a difficult world. Teach your children
about money. Let them know how to handle and manage money. Teach the how
money is useful in life and lets them also know how money can multiply
if it is used wisely. Teach them the basics of residual and passive
income. They should learn how to create multiple pools of income.
Profits and losses are common in everyday life. Train your children the
art of saving money and the ways in which they can save it.
Sowing the seeds of entrepreneurship among children is a difficult task.
Not every child is interest in becoming an entrepreneur. Some children
may display this behavior as they grow old and become adults. Extremely
gifted children may display that behavior when they are young. However,
parents can put efforts to train their children to learn more about
entrepreneurship and business principles. When a child learns these
principles, you can expect him or her, at least, to think about becoming
a true entrepreneur. Continue to read
Raising a Successful Child Entrepreneur - Steps to Entrepreneurial Stardom.