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Spring into Business: Teaching Kids About Entrepreneurship

Teach Kids Entrepreneurship

Countless youngsters aspire to start their own businesses, but most don't know where to begin. The truth is, the conventional example of getting a college degree followed by a steady career and climbing the occupational ladder doesn't always happen these days. Students graduate from top universities and struggle from anywhere between 6 months to several years to find a decent job. Teaching kids about entrepreneurship at an early age will give them a solid grounding in finance to create their own opportunities when the time comes.

Child Entrepreneurship

As most entrepreneurs know, starting a business is a pretty big deal, and when preparing children, entrepreneurship is an excellent means to introduce financial literacy. By definition, entrepreneurs are those that take a risk to make a profit. Entrepreneurship involves all sorts of decisions that can't be taken lightly, and it requires an understanding of all the moving parts. Unfortunately, schools oftentimes don't give sufficient regard to this area in your child's education. Children are never too green to discover financial literacy and should be shown how to save their money and know that they can't just expect money; it must be earned. This will help produce future adults that are financially competent & can invest in things that matter.

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Children saving money

An excellent way to teach your kids financial literacy is to show them that everything costs money. Most youngsters remember more from what they see and experience, so, let your kids in on discussions about how to spend, how much to save for a vacation, or situations that might occur in everyday life. For example, if you're out shopping and your child sees a new video game priced at $60, Instead of quietly buying it, offer to split the cost. This is a great way to challenge them, while subconsciously teaching them financial literacy. It'll also help them learn how to assess each purchase carefully. The next time your kids ask for money to buy a new toy or game, ask them to think of ways to produce the money through entrepreneurship. With a better understanding, they'll be less inclined to spend their hard-earned cash on random impulse buys.

When I grow up

Hiring, firing, handling suppliers, and sustaining an online appearance are for grown-ups; however, these tasks provide a foundational learning experience when taught in the right context. Another creative approach is to try listing items on eBay to teach the basics of supply, demand, and e-commerce through an online shop. The more that “playing business” is viewed as an enjoyable thing to do, the more that attitude will carry onward. Be that as it may, keep in mind that kids gaining experience in the real world is great, but they shouldn't be used as cheap labor or pushed into something they're not ready for.

Entrepreneurship isn’t for everyone; thus, always keep your child’s happiness the priority.

Children entrepreneurs shaking hands

Whether you're at home, in school, or traveling, try teaching entrepreneurial skills and look for fun ways to include your kids in a risk-free atmosphere. Be sure to introduce them to people who can inspire them, and most importantly, always lead by example as a parent or educator. The responsibilities of parents and teachers are to help set kids up for prosperity, success, and most importantly- happiness. Foster the mindset of imagining great things, endless possibilities, and an appreciation of what it takes to get there.

By: Jowanna's Corner

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