The ABCs for Raising Kids to Become Entrepreneurs
If you’re like millions of other entrepreneurs in the world, you would probably love for your kids to become entrepreneurs and live life on their own terms. Time and time again, we hear entrepreneur parents say, “I wish I would’ve started when I was younger.”
So now that the lesson has been learned and you are actually an entrepreneur, why not break the cycle and get your own kids started now? In this article, you will learn the ABCs for getting your kids started in entrepreneurship today.
A. ACCELERATE the growth of their mindset.
As we all know, your business only grows only as much as you grow. So start them off early. As entrepreneurs, we have all experienced disappointment and frustration. However, over time we have learned the importance of failing forward and learning from those experiences, further expanding our mindset.
Imagine if your kids didn’t see challenges as challenges. What if they saw challenges as opportunities? Strengthening your kids’ mindset will do exactly that.
I challenge you to be transparent with your kids about business. Keep them in the loop and feel free to share mistakes you have made in business, even sharing mistakes as you go through them. Sharing entrepreneurial challenges and setbacks with your kids will give you an opportunity to show them that we must have a strong mindset and push forward no matter what.
B. BUILD a strong foundation in the home.
I’m sure we can all agree that being an entrepreneur can be very time consuming. We’re truly motivated to reach our goals, and we get caught up in business. Regardless of how busy you are, though, your foundation at home must be strong. Your kids must know that they are your priority. If kids sense that your business comes first, they will come to resent it.
Simply put, “If your foundation is weak, then your business built on it shall eventually crumble.”
C. CHALLENGE them to think outside the box.
These days, they have board games like “Cash Flow” which is meant to teach innovative ways to manage life’s financial decisions. For younger kids, encourage play and exploration. Ask them open-ended questions. Praise them for their artwork and encourage creativity. Imagine if you were to encourage your kids more than you were encouraged as a kid. What would that look like to you? Isn’t it a pretty powerful vision?
The best part about keeping your kids involved in your entrepreneurial life is that they are learning from you - someone who has already been through ups and downs and has learned multiple lessons.
You are not only their parent but also their mentor in life. By helping them to have a strong mindset, keeping a strong foundation at home, and challenging them to think outside of the box, you will set your kids on their way to a successful journey into entrepreneurship.
Mary Hang is a serial entrepreneur and philanthropist. Although she wears multiple hats as an entrepreneur, her biggest and most rewarding passion is impacting the youth through Young Entrepreneur Society.