How to encourage kids to be young entrepreneurs

Kids are naturally curious, making them perfect candidates for entrepreneurship. As parents, we can nurture this entrepreneurial spirit in our kids. If we do, they will experience so many perks now and for the rest of their lives, from learning responsibility and gaining financial literacy to experiencing the power of goal setting firsthand. 

So, how can we encourage our kids to be young entrepreneurs? As parents, we simply need to nurture creativity in our kids and support their big ideas. Here’s how to give our kids the space to dream big and the confidence to go for it. 

Let them make mistakes

As Michael Jordan says, “I’ve failed over and over and over again in my life. And that is why I succeed.” Encourage your kids not to view mistakes as failures but rather as opportunities to learn. It’s incredible what ideas can stem from a perceived failure and lead to a massive success.

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Work on problem-solving skills 

It’s tempting as a parent to jump in and help our kids when they’re having trouble figuring something out. But by stepping back occasionally and letting them struggle through it, you’re helping them develop problem-solving skills they will return to every time they hit a bump in the road, even as adults. 

Foster creativity

Creativity can show up in many different ways. Of course, it can be how we typically think of creativity: how kids draw, write, play, and use their imagination. However, creativity can also be part of how kids communicate, make decisions, and express themselves. Let them explore creativity in a way that resonates with them.

Let them get messy

Remember when your kids were really little, and everything was hands-on? They weren’t afraid to dig in, whether it was finger painting, building sandcastles, or exploring the backyard. That same curiosity and willingness to get their hands dirty is just as important now. Encouraging them to dive into projects, experiments, or even creative play helps them learn, problem-solve, and build confidence — mess and all!

Teach them how to set goals

One skill that will help your kids succeed in entrepreneurship and otherwise is learning to set measurable goals, break them down into smaller tasks, and celebrate their successes along the way. This is called SMART goal setting, which stands for specific, measurable, attainable, relevant, and time-bound.

Watch TV together

No, not just anything will do for this one. Although, it is a great idea to let kids have downtime, which we’ll cover next. But we’re specifically talking about shows that hit on real startup challenges, innovation, and what it takes to succeed in business. Shows like Shark Tankand Buy It Now can be exactly what your child needs to inspire their future entrepreneur self. 

Give them room for downtime 

Just like adults need time to recharge and relax after especially stressful days, so do our kids. Kids are so busy today. In fact, a study published by the Economics of Education Review found that too many activities for kids can cause overscheduling, leading to fatigue, stress, and less family time. So, we need to make a purposeful effort to slow them down, giving them a chance to reflect, rest, and recharge.

Encourage independence

 Independent kids are confident kids, and it’s up to us as parents to teach them how to think and act for themselves. You can do this by assigning them age-appropriate chores, giving them an allowance, letting them figure out how to budget, and even letting them manage their own homework and deadlines. Not sure how to manage all of these tasks? It’s simple — with Greenlight, you can set chores, pay allowances, and monitor your child’s spending all in one easy-to-use app. 

Help them practice communication skills

Some of the most successful young entrepreneurs have figured out the code for communicating in a way that is clear, solution-oriented, and memorable (hello, MrBeast!). You can help your kids develop better communication skills by teaching them about more than just talking. Focus on things like active listening, body language, and emotional awareness to help them build meaningful connections and express themselves effectively.

The good news is that we have so many tools today to help kids turn their ideas into reality. It’s all about giving them the confidence to dream big and the resources to bring those dreams to life. Who knows… That lemonade stand today could turn into a groundbreaking business tomorrow!

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