How To Raise Young Entrepreneurs

Our parents made us to go to school, study hard and get  jobs or rather be employed, this is probably what we ought to do for the coming generation. Parents should always look beyond school work, find talents or special skills they can nature in their kids.

Raising your kid to be an entrepreneur is not easy but it will help them become independent hence making proper financial decisions.

There are several ways you can help your growing daughter or son into a budding entrepreneur.

Let you kids know they cannot always have whatever they want, sometimes they might push you so had to buy something you cannot afford. Learn when to say no and explain why? If you are dealing with teenagers let them know that hard work pays, allow them to do simple safe projects that can generate money for the, for instance, Lemonade stand sale, selling kids ornaments among others.

As a parent you should model the hustle, if you run private business have your kids accompany you to work on weekends or holidays, for them to have an idea of what you go through in a day’s work, be it a job at a market stall or somewhere in the office.

Kids believe that parents are their number one supporters, try not to demean them .You have to let them learn from their mistakes early, it’s important they have someone to rely on for advice and support when things are going wrong.

Avoid lending money to a young entrepreneur; they should be encouraged by their parents to create legitimate earnings from scratch, so that they learn the rules of doing business. If their business is becoming a success partner with them, or help fund its expansion.

Always give your kids that freedom of choice, they might be young but may understand what works for them and what doesn’t and treat them as equals. This means you should be asking how their business is doing, their future plans and the exciting moments when running a business; it makes them believe that what they are doing is important.