Statistically speaking, entrepreneurs have a better chance of succeeding the more time they have to pursue enterprise. This is the very reason why it’s important to teach kids about business as early as possible. This sooner children learn about business, the more they get to learn from trial and error. The more they learn from trial and error, the likelier it is they’ll eventually find sustainable proficiency as entrepreneurs.
The Early Bird Catches the Worm:
Being taught about business at an early age provides kids with an infinite number of lifelong advantages. Corporate Strategist Samuel Edwards advises that “It should come as no surprise that young children develop a better work ethic when they’re surrounded by entrepreneurship. This happens in two ways. First, they experience business operations first hand… Second, and perhaps more important, children develop a positive work ethic when they’re exposed to business.” Here are a few tips on how to teach kids about business:
1. Compensate them for Doing Work:
Most parents like to use domestic chores as a way to instill discipline. But chores can also be used to teach kids about the financial value of labor. Making some of a child’s allowance contingent on housework can orient them with the basic principles of professionalism.
2. Teach Them How to Transact Through Banks:
In order to succeed in business, it’s vital to be financially literate. Parents who take the time to teach their kids about banking provide them with a head-start in business. Too many people spend the majority of their youth not even knowing how to maintain a bank account.
3. Encourage Them to Take Up a Lucrative Hobby:
If your child has a keen interest in a hobby, come up with creative ways to monetize their hobby. It could be anything from a lemonade stand, to selling trinkets through an online store. The simplest pastimes can create an avenue to start exploring business.
4. Play Enterprising Games:
It might sound simplistic, but leisurely games also have a way of teaching kids about business. A game like monopoly can subtly motivate kids to admire entrepreneurship. There are countless enjoyable board games and video games which are based on the idea of financial activities.
Whether or not young children end up going into business for themselves as adults, it is deeply helpful when parents intentionally teach kids about business. Even the most basic exposure to business instills a sense of responsibility in a child. It introduces them to the reality that money doesn’t grow on trees. It takes a lot of effort and ingenuity to succeed as a professional in life. Which is a lesson that everyone should learn sooner rather than later. If you like what you just read from our blog, you’ll love the various informative courses, workshops and events listed on our websites and social media. Whether you’re interested in personal development, or overall improvement of your business, give us a call at 1 (888) 823-7757 to find out how The RISE Academy can help you break past your daily struggles and start soaring in success.