Entrepreneurship is often hailed as the key to success in the business world. After all, successful entrepreneurs are the ones who turn innovative ideas into profitable enterprises. When you think about the most successful businesses in the world, what comes to mind? Is it Google, Amazon, Apple, or Walmart? All of these companies were founded by entrepreneurs who had a vision and were willing to take risks.
However, entrepreneurship is not just about making money and building an enterprise. It is also about perseverance, financial literacy, taking risks, seeing opportunities where others see only challenges, and so much more. Entrepreneurs possess a wide range of skills that have helped them succeed and accomplish their goals.
This is precisely the skill set that children need to succeed in today’s rapidly changing world. Kids need entrepreneurial skills. By teaching our children entrepreneurial skills at a young age, we are helping them learn how to turn their unique talents and abilities into success- no matter what path they choose in life! Ultimately, we want to help our kids develop the confidence and resilience they need to face the challenges of their future.
What Are 5 Examples of Entrepreneurship?
1) Financial Literacy:
It’s never too early to start teaching your kids about the value of money. Financial literacy is often not taught in schools, yet it is one of the most crucial skills a person can have. These skills should be taught early on so kids can develop good habits that will last a lifetime. Have your kids do chores around the house to earn an allowance and require them to track their spending.
Encourage your children to put aside some of their allowance money into savings and offer to match a portion of their savings as an incentive. This will help them understand that money can grow and that there is value in making smart investments. Understanding money and financial concepts at a young age is essential for success in today’s world.
In today’s world, children are often sheltered from problem-solving opportunities. Helicopter parents hover over their children, shielding them from any difficulties or setbacks. While this type of parenting can offer some short-term advantages, it ultimately does more harm than good. Kids who are never encouraged to confront and solve problems independently are less likely to develop the skills they need to succeed in life.
They may also become overly reliant on others, leading to feelings of helplessness and anxiety. When kids are pushed to struggle a little and figure something out on their own, they will almost always surprise both you and themselves. Children are capable of FAR more than we give them credit for!
Everyone experiences setbacks in life, but some people are better at bouncing back than others. This resilience is something that can be taught, and it’s an important lesson for kids to learn early on. After all, life is FULL of challenges, and those who can confront them with confidence and resilience are much more likely to succeed.
Encourage your kids to talk about their feelings with you after a setback. Kids need to understand that it’s normal to feel disappointed or upset, but don’t let them dwell on these negative emotions for too long. Remind them that setbacks are often temporary and that they have the power to overcome them. After all, Walt Disney began his career by being fired from a newspaper for “not being creative enough.” Teach your kids how even the most successful entrepreneurs turned their setbacks into incredible new opportunities!
“Success consists of going from failure to
failure without loss of enthusiasm.”
4) Hard Work & Goal Setting:
Your kids watch your every move; whether you like it or not, they are always watching you! Lead by example and show your kids that you’re willing to work hard to achieve your goals. When your kids put in the extra effort to get a good grade or complete a difficult task, be sure to let them know that you noticed and are proud of their hard work. Help them see that hard work pays off and that it’s always worth it in the end. When children are taught that nothing in life comes for free and that they need to put forth the effort to achieve their goals, they develop a strong work ethic that will serve them well throughout their entire lives.
Create a “Goal Jar” with your child; sit down together, write down your goals, and simply place them in a jar. Encourage your child to think big, but also help them break their goals down into smaller, more manageable steps. They also need to see you write down your goals; remember, they’re always watching! Don’t forget to celebrate their successes along the way, no matter how small they may seem. Because to your child, they are NOT small. Making the game-winning goal with only five seconds left in the game was the absolute BEST and most wonderfully exhilarating experience of their entire lives. Share in that excitement with them!
5) Teamwork & Leadership:
Most people see teamwork and leadership as two separate skills. However, the ability to work effectively and communicate with others is essential for any good leader. After all, no one can accomplish everything on their own. A successful leader must build a strong team of followers willing to work together towards a common goal. In order to do this, a leader must be able to motivate and inspire others, as well as provide direction and guidance.
Teamwork and leadership go hand-in-hand. Teach your children these skills by giving them opportunities to practice. Encourage participation in team sports and joining clubs or group activities at school, church, or the local community center. These are some of the most effective group-setting environments where kids will learn teamwork and leadership skills that will carry them throughout their lives.
Entrepreneurial Skills Can Change Your Child’s Life
Most people think of entrepreneurship as something that is only for adults, but the truth is that children can be entrepreneurs too. In fact, some of the most successful entrepreneurs started their entrepreneurial journeys during childhood. Teaching your children entrepreneurial skills can give them a head start in life, help them develop essential life skills, and instill a sense of confidence and self-worth. They’ll be better equipped to deal with any challenges that come their way and will have the tools to succeed- no matter what they decide to do in life!
“You are never too young to start an empire & never too old to chase a dream.”
This post is sponsored by the Kids Guide to Entrepreneurship & Innovation. For information about this product, visit