Do you have a Kidpreneur living under your roof?
Most people say ‘It’s never too late’, but perhaps it’s ‘Never too early’ to teach our kids entrepreneurial skills? Does your child have a crazy imagination? Are they always excited to learn new things? Do they have great vision for what the future may hold? Are they a really determined child? You may have an entrepreneur in the making! A Kidpreneur!
Every parent wants their child to grow up and be a successful adult and it’s important to give our kids the best chance possible by providing them with skills and knowledge at a young age to take through their ventures in life. Who knows, you might have the next generation Elon Musk or Steve Jobs living under your roof! So what can we do at home to foster these personalities and encourage their entrepreneurial spirit?
Teach Them About Money
How to earn it, how to save it, how to spend it, and how to invest it. There’s a way for kids to learn about money at any age, whether they’re a teen with their first part time job or a 5 year old earning a couple of dollars for helping with chores around the home. It’s important for kids to understand the value of money, how far it can go and how they can turn money they earn into more money, if they invest wisely!
Money smarts are particularly important for a Kidpreneur who wants to start their own hobby business, they will need to understand what revenue is compared to profit and that all the money they make from their hobby isn’t money in their pocket, the expenses of running a business, how they could invest their profit to grow their business and other ways they might want to spend their money, such as giving to charity.
Grow Their Imagination Muscle
There’s no doubt that kids have the best imagination and they all find something they’re really interested in. Remember to put dedicated time aside for this and allow them to play, explore, create and learn, in their own time and in their own way; as we all know, play is the best way for a child to learn. Don’t decide for your kids, they all have their own unique interests whether its crafts, building, cooking, music or technology. Let their imagination run wild and support their interests. This will help teach them innovation and creativity, so they become great problem solvers and ingenious thinkers!
Independence & Responsibilities
Allow your kids to be an active part of the family by giving them chores and responsibilities. Not only will they feel like they’re part of the team, it will teach them skills they will need to live and work independently. They learn to do things they don’t necessarily love doing, they will learn to value hard work and it teaches them a strong work ethic.
We all have experienced setbacks in life, and these are particularly inevitable for entrepreneurs. Allowing your child to express their emotions without diminishing their feelings is important to build a thick skin. Talking through their challenges and supporting them to find a ‘lesson’ in their setback will not only help to develop a positive attitude in a negative situation, but allow them to bounce forward after a set back.
Our children don’t have access to the same information we do, and it’s important to share with them the great things that are going on in the world that might inspire them. Share stories with them about our modern day entrepreneurs, where they started and where they are now, they are usually really inspiring stories! There are also a heap of Kidpreneurs out there with their own unique businesses or doing amazing things in our world, here’s some stories of incredible Kidpreneurs doing clever things, one of these stories might really resonate with your child!
If your child has an idea they want to pursue, support and encourage them as much as possible. In February 2019, in conjunction with the Kids Entrepreneur Program run by the Devonport Library, we hosted our first Kid’s Market, giving children the opportunity to sell their handmade items and become a real business selling their products! It was wonderful seeing all the different handmade products and ideas the children came up with and their success in selling the products on the day. Providore Place is looking forward to the next Kids @ Providore, which will be held on Saturday, 20th July, you can contact us here at Providore Place on 0414 608 124 for more details. We can’t wait to see more of our North West Coast Kids have a chance to let their entrepreneurial spirit flow and share their amazing ideas with our customers.
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