9 Ways to Teach Your Children Entrepreneurship Skills Early in Life

Did you know that the skills and values your children learn when they’re young will stick with them for life? It’s true – about 90% of what they pick up before they hit their teenage years stays with them well into adulthood. So, why not start teaching them entrepreneurial skills while they’re young? You don’t need to wait until they’re in college to talk about business.

Here are 9 practical and heartwarming ways to introduce them to the world of entrepreneurship:

  1. Encourage Creative Thinking
    Entrepreneurs are creative problem-solvers. Encourage your children to brainstorm with you and come up with their own ideas. You can provide them with small challenges to solve, like creating a fun project, designing a simple business idea, or even thinking of a new product. This nurtures their problem-solving abilities and helps them build a foundation for entrepreneurial thinking.
  2. Include Them in Decision-Making
    Kids love to feel involved, and it’s a great way to teach them about responsibility. When making simple business decisions – like choosing a product to sell or deciding on a marketing strategy or even what post to share – ask for their input. One time, my daughter helped me pick out new styles for our activewear launch, and we made the decision together to go with a design she suggested. Her face lit up when those designs sold out first!
  3. Teach Them the Value of Money
    One of the core principles of entrepreneurship is understanding the value of money. Start teaching your children about budgeting, saving, and how money flows in a business. If possible, you could set up a small “business” for them, where they earn play money through tasks and then spend or save it. This helps them grasp the concept of money management early on.
  4. Let Them Try Small Responsibilities
    When kids take on small responsibilities, they get a taste of what it’s like to run a business. Let them help out with simple tasks – whether it’s organizing supplies, answering a customer’s question, or packing orders. My daughter loves to help me with responding to customer questions over the phone. It’s a small thing, but it makes her feel like she’s part of the team, and it teaches her the importance of attention to detail.
  5. Read Entrepreneurial Books Together
    There are many children’s books that focus on entrepreneurship, business skills, and leadership. Choose books that are fun and engaging, and read them together with your children. This will introduce them to key concepts such as risk-taking, innovation, and perseverance while helping them relate the lessons to their own lives.
  6. Teach Them About Failure and Resilience
    Entrepreneurship often involves taking risks, and sometimes those risks don’t pan out as expected. Teach your children that failure is a part of the process and is an opportunity to learn. Share stories of entrepreneurs who faced setbacks and how they bounced back. It’s okay to share personal stories too. This will help your children understand the value of persistence and resilience in the face of challenges.
  7. Encourage Independence
    The more your child feels like they can do things on their own, the more confident they’ll become. Encourage them to take on small projects and manage them from start to finish. Allow them to make decisions, manage tasks, and deal with the consequences of their actions. This instills confidence and teaches them that they can control their destiny.
  8. Teach Time Management
    Successful entrepreneurs are masters of managing their time, and this is a skill kids can start learning early. Help them create a schedule for their daily tasks or set goals together. This helps them develop the discipline required for success in both business and life.
  9. Promote a Growth Mindset
    The best entrepreneurs know that challenges are simply opportunities to grow. Teach your children to embrace a growth mindset – encourage them to see every challenge as a chance to learn something new. When they encounter challenges, remind them that learning and growth happen through perseverance and continuous improvement. This mindset will help them face entrepreneurial obstacles with optimism and a willingness to learn from each experience.

By teaching these valuable entrepreneurial skills early, you’re giving your children a head start on becoming resilient, independent, and creative thinkers. More than just business skills, these lessons will help them grow into confident, capable individuals who understand the power of hard work, perseverance, and believing in themselves. However, it’s important to remember that kids often hate being lectured all the time or having every moment turned into a teaching moment. They just want to enjoy your presence, have fun, and learn naturally through experience. So, balancing the lessons with moments of just being together and sharing simple joys is key. Let them see entrepreneurship as an exciting adventure, not a constant lesson, and they’ll embrace the journey with enthusiasm!

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