aising kids must involve building them with the ability to discover, evaluate, and explore opportunities. In the 21st century, more societies stir towards integrating entrepreneurship skills into children’s education.
In other words, correct parenting should raise children who will create future goods and services for the betterment of humanity. Moreover, that achievement is a crucial competence that gives them lasting joy from doing what they love. Parents must, therefore, be committed to raising their kids with entrepreneurship skills.
Entrepreneurial skills are also needful in society as it shapes the thinking and behaviors at all levels. However, according to research, the development of these skills has a genetic component with coefficients of 50-60%.
Fundamental Entrepreneurial Abilities in Kids
Children show different signs that indicate their flair for entrepreneurship skills as they grow into adulthood. Some of the examples of such competencies include
- Invention: when children show innate abilities to design little objects at their tender age, it is an entrepreneurial skill. They may do some of these things at their playtime. So, a parent must relate with their kids at this leisure times.
- Leadership: kids that readily engage leadership positions, including serving as club or class captains, are good potential entrepreneurs. It may come with their ability to make friends or profitably persuade other people.
- Commerce: another crucial competency that parents should watch out for in their kids is their ability to trade. Some children understand the value of what they have and can make a good exchange with their friends. When this happens, often, such a child may hold the ability to be successful in commerce.
Notably, these factors that show early in a child’s life can be nurtured as they grow. Then, it will help them develop the required skills, motivation, passion, knowledge, and network for starting businesses.
Above all, entrepreneurship skills are also parallel to social skills and, therefore, nurses these behavioral patterns. The social skills may include the following
- Taking perspectives
- Willingness to learn
- Quick adaptation to changes and challenges
- Effective verbal and non-verbal communication
- Networking with other people
Benefits of teaching Entrepreneurship to Kids or Teens (3-P’s)
With the demand of more competent leaders all over the world, parents must also raise their kids to become capable adults. A vital part of this process includes raising these kids to become competent adults through needed entrepreneurship skills. But what are the benefits of teaching them entrepreneurship skills? I call them the 3-Ps of Kids Entrepreneurship Skills: Passion, Positive Influence, and Poise.
Every parent needs to realize that sustaining the love of their kids is one of the main jobs of parenting. However, before they can maintain their passion, they must first identify their passionate areas. Whereas these processes are not as natural as they sound, it is quite achievable.
For instance, parents and teachers should create an environment that triggers various faculties of a child. These faculties may generally include arts, sciences, or social sciences, while the atmosphere must contain helpful tools and resources.
For children to grow into adults with impact and fulfilled lives, they must first learn to follow their passions. In other words, the fulfillment of careers determines the overall success, happiness, and satisfaction.
On the flip side, kids or teenagers should not be motivated by money or self-security but by impacts on others. Similarly, kids should not be trained to make career choices based on passion rather than cash. By so doing, raising kids will produce the right stature towards valuable entrepreneurship skills.
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2. Positive Influence
The simplest way that kids learn is by imitation of influences around them. Therefore, it is essential to create an atmosphere that is saturated with positive vibes. Relevant stakeholders like the parents, educators, and peers.
In other words, if you surround your kids with business-minded orientation, they will grow with the same. Ideally, these friends of his will share their experience, habits, interests, and more with them. In other words, that step directs them into the path you want them to follow.
It is also easy for them, therefore, to achieve great entrepreneurial success through the influence of successful people around them. Also, starting early for kids will enable them to master the art of sustaining a successful business. A set of result-driven mentors will be a powerful force in a child’s life.
The third benefit of raising children with entrepreneurship skills is their poise. Poise is otherwise known as the self-confidence or the ability to overcome the fear of failure. In other words, parents should prepare kids or teenagers to expect not only success but also a failure.
But instead of being set back because of failure, they can forge ahead on the wings of success—besides, the higher the level of wise preparation, the lesser the risk of failure. And the less the risk of failure, the less the fear of failure. Raising kids of different age groups takes correct entrepreneurship skills, especially when the kids are growing fast.
Get your teenagers familiar with life challenges and a good grasp on standard cycles of life. Let them learn that failure can be a precursor to success. And instead of doing nothing for fear of failure, they should instead push through irrespective of constraints.
Mind you, these kids and teens learn more quickly than adults, and that also indicates they can grow faster. Don’t shield them from failure but guide them through one until they become useful again. The fear of failure may be costlier than the crash itself.
8 Steps to Manage Entrepreneurship Skills of Teens/Kids
There has been a vibe around young entrepreneurs who have been able to do tremendous things in the world. Ranging from building an online boutique through eBay, to owning a clothing line, and engineering cars, teens simply rock. Raising kids is work, but entrepreneurship skills will teach them to be able to stand on their own.
The times have passed when parents could discard any idea of a young one as being ‘childish.’ Instead, parents, guardians, and educators should harness this potential that may raise the next successful entrepreneur. Here are a few things to start within building kids’ entrepreneurs:
1. Find a Mentor
The first step to take in helping a child that shows the business potential is to connect him with a mentor. This step includes a careful study of successful adults with such passion for improving the younger ones. Parents can start from the immediate or distant family or find a suitable mentor on social networks.
LinkedIn, Twitter, and Facebook may prove an excellent place to start to find ideal models. Also, you may connect with higher professionals based on the recommendation of friends or family members. In short, don’t assume you know everything – seek help to nurture your dreams.
2. Build a Viable Network
Following the need to find a mentor is another essential point of building a viable network. A young entrepreneur must learn teamwork with other entrepreneurs. Also, other people like you are making something, and you can gain from each other.
So, if you stick to the right network of people, you can travel far to achieve great things. However, as necessary as this step is, it must be done gradually. Also, entrepreneurs need to cultivate this strategy as a long-term habit to achieve great things.
3. Communicate Effectively
Invention requires proper communication of the steps along the way alongside other essential skills. To get people to believe in your dreams, plans, and aspirations, you need to sharpen your communication skills. Effective verbal and non-verbal communication require feedbacks.
Furthermore, learn to give speeches and presentations to convey an exciting idea and practice this skill. Also, engage other professionals one-on-one by not only sharing your ideas but listening to them too. One benefit of communicating with others is the ability to build trust faster to enhance your business integrity further.
4. Gain Credibility
Young people often have to contend with roaming about several ideas and strategies. At the same time, they have to prove their worth through profitable works. More so, they have to convince the adults that they are serious about their business ideas. And that it is worth their investment of time and other resources.
Besides, since young people are often tech-savvy, they can start to build an online business brand. When the goal is clearly set, and the strategies are carefully implemented, then people will take such ideas more seriously. Adhere strictly to the main topic of discussing and be disciplined in your interactions.
Also, remember always to put the benefits of your target audience or potential clients at the forefront. Keep in mind that they respond to what benefits them, either by what you demonstrate, talk about, or rendered services. As you improve on these things, you will also acquire recommendations and followership.
5. Innovate and Adapt
Change is part of life. And any successful entrepreneur has loads of stories of how they adapted to unforeseeable changes. Ideally, this ability to adapt and innovate new approaches should not be difficult for teens and kids. Another benefit of innovation is to maintain a uniqueness that makes people choose your brand over others.
First, you will need to know your competitors very well and learn ways to beat them. What do they lack that you can bring to the table? What have you identified as your customer’s needs nobody meets yet? Mind you, don’t underestimate your innovative idea; it may be your key to the limelight.
Besides, the little things can make all the difference in the customers’ choice of brand. Have a team that brainstorms on new ways of doing things to achieve better results. Remember also to maintain a quick response to market changes and policies to your advantage.
6. Be More Organized
Parents, guardians, and educators must help young people to be more organized. This skill is ideal for maintaining a comfortable and productive life. Lack of organizational skills do not just affect objects around you; it also tells on the productivity of your leadership.
Organizations and businesses run on certain set principles that put many essential things in their rightful places. Also, different age groups can learn organizational skills as long as they have the flexibility to adapt to changes. Being organized helps in the assignment of tasks to team members and the received responses.
Organized entrepreneurs also find it easier to gain the trust of partners who readily believes in their vision. On the contrary, lack of organization wastes many resources, including time and money, even with great ideas. Parents and guidance must ensure kids gain entrepreneurship kids while raising them.
7. Manage Your Stress
As a kid or teenager grows, life continues to place more demands on them, in terms of school and family. All these things might amount to stress if proper management skill is not in place. Also, a business idea can make it more challenging to maintain focus on other things. However, it is not impossible to do all profitably, since they are all essential.
Uncontrolled stress can destroy one’s health as well as effect school and business performances. So, an option may be taking some time out to enjoy your hobbies, especially at a stressful feeling. Also, ensure the time set is constant so that the body can look forward to it. Pick a Saturday to either rest or take some time out.
Stress may also be due to doing too much, and then you can manage. So, you may have to review your present workload and consider shedding some on team members. After all, a good leader must also learn to designate tasks to competent hands to achieve more productivity. Then, rearrange every activity on a scale of preference and assign a time for every essential item.
8. Build Resilience
Achieving success without a strong resilience is a mere gamble and worst still a mirage. Resistance is the courage to push through difficult circumstances or setbacks to complete the set goal. Business by nature will demand much resilience from entrepreneurs, and kids need a lot of it.
This process begins by building the strength of character in teenagers to manage situations. Research has shown that delay gratification can help parents build this character. Let them learn to wait and keep pushing until they achieve what is right for them. Don’t forget to reward them at the end of every process and encourage them if they encounter any failure.
However, resilience will also develop with age as well as more social interactions with the right set of people. You can enhance this resilience by:
- Help them develop problem-solving skills
- Watch over their social network community
- Teach them to honor the uniqueness in other people
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An envisioned society must do her best to raise young entrepreneurs who can put more productive years in lucrative ventures. However, parents, guardians, and educators have tremendous roles to play in achieving this feat. Raising kids with entrepreneurship skills is the way to adapt to the ever-changing world.
So far, we have discussed:
- Fundamental Entrepreneurial Skills Parents and Educators Should Identify
- 3-Ps: The Benefits of Teaching Entrepreneurship Skills to Kids and Teens
- 8 Steps to manage the entrepreneurship skills of kids and teens
On the part of the kids, they can still learn to build sustainable business strategies. Because they may find some of the old approaches no longer applicable. Generation-X must invent better ways to do greater things, and they need all the help they can find.
What are your efforts so far in building entrepreneurship skills in your kids?