Is Your Kid an Entrepreneur?
Are you hoping you’ve got your own Bill Gates in the making in your home? As a parent, you can probably tell pretty easily whether or not the entrepreneurial spirit is evident in your child. Some kids make it very obvious that the regular nine-to-five will not be a part of their future. For others, you might need to investigate a bit further to see.
Ask these simple questions about your kid to see if your kid has the entrepreneurial spirit. If your answer is “yes” to one or more, you probably do.
1. Does she ask what she can do to earn more allowance? Is she willing to take on jobs around the house instead of hanging out at the mall with her pals? Does she do her chores and work with vigour and excellence?
2. Did she have the best lemonade stand on the block? Did she go the extra mile to make sure that her stand was profitable and her product and service brought back customers over and over again?
3. Does she value flexibility and independence more than the sure thing of an hourly job? Does she make comments about wanting something “more” than just flipping burgers or selling pink t-shirts?
4. Does she work well on her own? In her free time is she thinking of other ways to make money or start a business? When you give her a job or chore around the house does she jump in and do it quickly and efficiently?
5. Is she a self-learner? Does she spend time researching and reading for her schoolwork and outside of that? Does she enjoy finding out more about how to use the computer to her advantage?
If indeed, you do have a young entrepreneur budding in your midst, you might want to start her off now in a business of her own even now, before the college bills start piling up! It will serve her well now and in the future! Check this link and discover an online program for kid entrepreneurs, which your innovative kid can attend and learn all the business secrets designed especially for young and eager learners.
Encourage Kid Business That Grow Into A Full-Fledged Business
Having a small business can be very challenging as well as enjoyable for kids. More than ten years ago, selling lemonades, cutting lawns, delivering newspapers, selling cookies and other forms of enterprises keep kid entrepreneurs busy. As the years pass by, young entrepreneurs evolved and some graduated from the traditional businesses of selling cookies and cutting lawns to become full-fledged business people. As these enterprising kids grow up, most of these enterprising kids continued their business and become successful at it.
One of the best examples of a kid business that grows into an adult business is that little girl who used to sell cookies around the neighbourhood and grew up to be the proud owner of two successful bakeshops across town. From earning a few coins selling cookies each summer around the neighbourhood, that little girl turned her business into something that brings about thousands of dollars in profit every year. The secret of her success is that at an early age, she was already exposed to the nitty-gritty of finding good suppliers of ingredients for her small business and had established a good relationship with these suppliers.
Furthermore, when she was still a child and do not have any pressing needs to earn a living on her own, she had all the time to experiment in baking different types of cookies and pastries that she was able to come up with some really good recipes.
Advantages of Starting Young
There are many advantages of getting into the business at a very young age. Kid entrepreneurs learn their trade early and had more time to hone their business skills. After years of engaging in their kid or teenage businesses, these young people develop a system of their own when it comes to handling their business affairs. These systems will then play a vital role when the kid, later on, decide to pursue his or her teenage business and turn it into a full-fledged business.
According to studies, most young entrepreneurs used the skills that they learned early on to expand their business when they get older. As parents, we need to encourage our kids when they display an entrepreneurial spirit. Not that all kids will grow up to be in business but it ingrains in them an understanding of self-reliance.
Another advantage of starting a business at an early age is that kid entrepreneurs gain loyal customers over the years. It is not uncommon for people around the neighbourhood to feel an affinity for the young entrepreneur thus they will not really think twice when it comes to supporting the younger entrepreneur.
Since teenage entrepreneurs have already established rapport and good relationships with their clients, keeping these clients will not really be hard for them. In fact, some loyal clients will prove to be very useful when it comes to advertising the business expansion of the young entrepreneur. Note that a good word from a very satisfied customer will always bring in more business. Now with the Internet young entrepreneurs literally have access to the world. Social networking sites are good training grounds to become a savvy online entrepreneur.
Your kids or teenagers are great resources for any business. They know what’s “HOT Now” and they have had computer training in school but still need some help from your side with their online business.
Make that their business a family effort. Enjoy their business and your family at the same time.
Spark Your Kid Entrepreneur with Creativity And Innovation
Your toddler or kid has untapped creativity that needs to be honed. It is up to you as a parent to awaken his creative imagination, and help him make it bloom and flourish throughout his life.
Children, as they grow older, can also assist you with basic tasks like proofreading a new article or inputting data into a computer. This means that they receive slightly more pocket money and again teaches them the value of money. By doing something slightly different from what they usually perform their mind open even more to new and innovative ideas.
You can inspire entrepreneurship in your kid even more. After all, entrepreneurship isn’t just about making money, it’s about providing value, learning skills, developing a driven mindset and so much more. If you do not know how you can check the following link – the Alpha Program. This specific program for kids will show in practice how they become entrepreneurial children and learn the concepts of entrepreneurship, financial education and emotional skills.
5 Lessons Your Kids Will Learn By Starting A Business and Become a Succesful Entrepreneur
5 Lessons Your Kids Will Learn By Starting A Business
Kids need to be kids and enjoy their time as children. But, at the same time, as they get older, they also need to learn to make money and function in our society as responsible adults.
Oftentimes, they get a job at a Burger Joint, where they learn how to listen to a boss, and how to work with others, but then they may also have to give up some extracurricular activities, study time and time with family. Not terrible things, but enough of a challenge that many families are helping their kids start their own businesses.
Why? Lets compare the lessons your kid is learning working at a burger joint versus starting a business.
1. Responsibility.
Burger Joint: Yes, it teaches responsibility. You need to show up for work and do a good job or your boss and co-workers will get mad at you.
Entrepreneur: Teaches you responsibility as well. You need to work hard or you will not get paid.
2. The Value of a Dollar
Burger Joint: You learn that time is money.
Entrepreneur: You learn that creativity, ownership of responsibility and hard work is money.
3. How to Market Yourself
Burger Joint: Teaches you how to fill out an application and go on an interview to market yourself. You do this once and then you’re done.
Entrepreneur: You have to market yourself and your business on an ongoing basis if you want to make any money.
4. Customer Service
Burger Joint: Service with a smile or your boss may reprimand you.
Entrepreneur: Service with a smile or you do not get repeat business and your income drops.
5. Banking Skills
Burger Joint: You learn how to collect a paycheck and how to deposit it into the bank.
Entrepreneur: You learn how to budget for advertising costs, taxes, and expenses and weigh them against your profits. You learn to deposit your income into the bank and write checks to cover expenses. You learn how business works.
As you can see, both options have benefits. As for which option you will choose? That is up to you and your child.
“It shouldn’t matter how slowly a child learns as long as we are encouraging them not to stop.”
Robert John Meehan
Hope you have enjoyed some of the innovative thinking articles. You can read other interesting tips for yourself and your kids, please go to our Kids Universe website.