Some kids are born with an innate desire to take the road of an entrepreneur; to change the world with their unique gifts. Others need a little encouragement from their parents and loved ones. The world needs leaders and inventors to take us forward into the future.
Entrepreneurship also boosts confidence in children, one study from Ireland found.
But how do we encourage our kids to become entrepreneurs?
Get Started Early
Allow your child to start dabbling in ventures as soon as possible, or whenever she has ideas. It doesn't have to be an elaborate idea – no one is saying that your child should have a multi-million-dollar business by the age of 13. Lemonade stands, pet sitting services and craft sales, like soap or slime, are great places to start.
Teens can use their technology skills to launch a business. Whether it's an Etsy shop, starting their own SEO company, or social media marketing, there are so many ways young adults can start their own online-based business.
These small ventures may not make your child a fortune (that's not the point), but she will learn important lessons from her experience. These lessons will follow her into adulthood.
Find an Entrepreneurial Role Model
Entrepreneurship tends to run in the family. That's why the children of business owners tend to have their own businesses, or take over the family's business. Data shows that kids who have an entrepreneur influence in their lives are more likely to take an interest in running their own business.
But what if you don't have your own business? There's a good chance that you know at least one entrepreneur. Maybe it's a neighbor, close friend, or a family member. Introduce your child to that person. Let your child see that it is possible to succeed with her entrepreneurial pursuits.
Encourage Kids to Follow Their Passion
Passion is what drives the most successful entrepreneurs – not money. The pay-off is just the icing on the cake.
Encourage your kids to follow their passions. What do they really want to do? How do they want to change the world?
Kids will find joy out of their entrepreneurial pursuits if they make it about following their dreams instead of chasing a paycheck. This lesson will carry forward in life, ensuring that your child chooses a career or business venture that she's passionate about.
For kids to find their passion, we need to encourage free thinking. Create a space where your kids can feel comfortable sharing their wildest ideas and take those ideas seriously. Even if those ideas never see the light of day, you'll instill confidence by believing in those ideas.
Let Kids Know That It's Okay to Fail
Every entrepreneur fails at least once. There are many roadblocks to success, and failure is where we learn important life – and business – lessons.
As adults, we understand that failure is a part of life. Kids don't. Failure is devastating to children.
It's our job as parents to let our kids know that failure isn't a bad thing. Mistakes happen. We get up and move forward. Let your child know that it's more important to be brave than perfect.