An entrepreneur is someone who sets up a Business and takes risks in hopes of making a profit. While this may seem like an idea for adults there have been many children who had ideas and went on to take the idea into the land of business. Parents and guardians play an integral role in nurturing these children.
Helping your child entrepreneur
Ask about their passions: Children have varying dreams at different years of their lives and some of their dreams are fueled by their parents. It is important to observe your Child and note his or her likes and dislikes.
What is your child mostly drawn to? What gets them excited? When you find out what they love to do then you can foster its growth by creating the environment for it to grow. For example, if your child loves to create jewelry then begin to purchase the craft necessary and set up a work space for them with a table and even a shelf where everything is organized. You can also help them search for You tube tutorials on jewelry making.
Teach them about money: Money may be one of the reasons that people do not go into business so it is important that your child understands the value of money and how it can be used and how it can be lost. Lend them some money or invest in their business. When you have done so, sit down with them and go over revenue and expenditure.
It is best that they understand what is being spent so that they will know about profit and loss. In this way, your child will be better prepared for the long run.
Allow them to set goals: Every child wants something. This entrepreneurial venture can be just the opportunity to guide them in the direction of what they want. Help them to set goals and timelines so that they are aware of their business and how it affects their plans.
If they have a target in mind then they can push themselves toward that target as that target will make them happy. The target should be their idea as they will pursue their personal dream with vigor and energy.
Network with your Friends And Family members: Every business must have a clientele to succeed. Encourage your friends and family members to order from your child so that your child can start to build a network.
Once the product is good then word of mouth will work in your child’s favor. Carry a few of the items into your workplace and show your colleagues. Your passion about your child’s venture may very well inspire others to participate.
Children whose business became successful
To encourage you and your child here are some children whose business became successful.
Leanna Archer is the Chief Executive Officer(CEO) of Leanna’s essentials. She was just a child of eight years old when she started to share her great grandmother's recipe of an all-natural hair pomade. Leanna’s line has expanded to include skin care and is sold worldwide. Leanna’s business has been in existence for more than ten years.
At nine years old Moziah Bridges learned how to sew his own bow ties with the help of his grandmother because he was unsatisfied with his options.
This child entrepreneur started selling on Etsy and is now the 14-year-old CEO of Mo’s Bows. His business continues to be successful.
All business ventures involve risk but if your child’s idea is nurtured from an early stage it can be a potentially huge success.
