Running a business isn’t child’s play, but as young entrepreneurs continue to succeed, more kids than ever are showing an interest in how to make it rich on their own.
So what’s a parent or teacher to do when asked how to achieve dreams of becoming a businessperson from a child who may not even know how to count to 100 yet?
Plenty, say small business owners who are parents. As long as there is an interest, there are ways to get your child business-ready. Here are some ideas.
If your child shows an interest in a particular business, arrange for him to learn about career job training from a businessperson in that field.
Most small business owners are eager to teach their trade and share their secrets for goal setting and success, especially if they’re good at it. If this relationship is a success, imagine what an advantage it would be for your child to have a mentor.
Stress the importance of education to achieving your dreams.
Skills like math, English and business are important, but parents can take it a step further by teaching children how to write checks and save money. Explain to them what you’re doing when you’re paying bills, and fill them in on why you’re saving for future items.
Have your children involved with sports or other activities after school.
This gives them a chance to learn how to interact with their peers and handle competition. All three are crucial to operating your own business. It also gives them a chance to handle failure.
Discourage them from quitting anything they start.
It’s easy to give up when starting a small business, but those who make it work are the ones who persevered through the toughest of times. This is learned at an early age.
Turn family home activities into teaching moments.
Children can learn what it’s like to manage their time just by sweeping the kitchen floor, or emptying wastebaskets. Make sure to pay them on time to encourage saving and budgeting. It’s easy to blow that small allowance on immediately-satisfying rewards like candy and comic books, but saving can lead to bigger luxury items like bikes, video games and maybe even a ticket to a favorite amusement park.
Most importantly, though, be supportive in whatever they choose. If your child wants to take on a non-traditional role and be her own boss, instead of wanting to be a doctor or lawyer, don’t discourage it. Start her down the learning path and see if it’s really the career for her.
After all, even the biggest businesses in the world were small at one time or another.
For more information, visit the Small Business Association in your community or state.
Visit your local library for several wonderful books about children and small businesses. Contact your school to find out what programs they may offer to further your child’s interest in owning a small business.
Tom Kissman is a small business owner and parent of a two-year-old daughter living in the Lansing, Michigan area. He is the author of two children’s books.