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The Secrets to Raising a Smarter Child
- By Inderbir Sandhu, Ph.D


Raising a Successful Child Entrepreneur - Sowing the seeds

By Andrew Loh

What is common with Cameron Johnson, Javier Fernández-Han, Anshul Samar, Leanna Archer, Umar Brimah, Jason O'Neill, Alexandra McDaniel and Luke Underwood? Do you want to make a guess? These are probably the youngest and successful children entrepreneurs in the world of business! Falling within the age bracket of 12 and 15 years, these budding CEO's are the cream of the lot! Cameron Johnson, at 12 years old started his greeting card printing business which had grown to sales of more than $15,000 per day! Just imagine some of our children still playing and dirtying their clothes. On the contrary, a few of them will be seriously honing their entrepreneurial skills and creating ways to make money from brilliant and innovative ideas!

The world of business is usually reserved for older men and women. It is extremely limited to find entrepreneurs who are in their early teens. It is not easy to succeed in the world of business. It takes a lot of effort, enthusiasm and skills to become successful in the world of business. Children, who are in their early teens, always depend on their parents for money, love, care and affection. In fact, most of them want their parents' help to make a safe and happy life.

However, parents should let their children to think, work and act independently so that they grow professionally competent in their adulthood. Introducing them to become entrepreneurs at their early age will enable them with the qualities needed to get self-sufficient. Assisting your children to kick-start a company will need the help of many tools that are critical to the entrepreneurship.

Here, are some of the important considerations that parents should pay their attention while introducing their children the world of business:

Work on children's gifts, talents and capabilities

Every child has his or her own talents and abilities. Parents should find out these particular characters before introducing them to the world of entrepreneurship. Some children can work for hours. They also show exceptional interest for that work. It could be anything, from painting, writing, sketching, singing and playing Monopoly. At times, they may work for hours on a specific task and finish it successfully. You may want to note down those activities and write down in a notebook.

Next, try to link those activities to business niches and topics. For example, you can initiate your child to a business that relates to finance management. If your child likes to play Monopoly all the time, you may like to use the finance niche to train him or her. Sit down with your child to discuss this possibility. Ask probing questions and try to find out child's reactions. It might be quite difficult to find out the exact business niche. However, you can take your time to find out the niche by exploring all angles.

Initiating your children to business venture

Initiating your child to a business venture is much more than giving seed money and kick starting the venture! You should help your children to learn the basics of business management and entrepreneurship. This is where you will meet your first difficult challenge. You just cannot stuff information and business strategies to your child's mind. In fact, your child will not be ready to learn and master all those complex business strategies! Teaching business skills to your child means making him learn the basic of entrepreneurship in an easy way.

Allow your child to find out passion and dreams

Business is all about passion and dreams. Children have their own dreams and goals. When you introduce your children to the basics of entrepreneurship, you should try to link their passion and dreams to the basic business goals. Internal motivation drives dreams and passion. If your children have an internal motivation to achieve something, they will try to link to their goals and objectives. You should try to find out what is driving them. For example, a child may have an internal motivation to become an industrialist. He or she will have an internal motivation that propels them to reach that goal post. In fact, they will act as an industrialist when they are young in their age. They may play games that mimic an industrialist or an entrepreneur who runs an industry.

Meeting challenges and confronting risks

If someone wants to succeed in life, the first thing to master in life is meeting difficult challenges of life and confronting different types of risks. To succeed in a business venture, one should possess the courage to face difficult situations and challenging scenarios. Children be allowed to learn the basics of handling and managing difficult situations those are so common in everyday business field.

Teach the basics of finance

Financial intelligence is most critical skills for everyone to survive in a difficult world. Teach your children about money. Let them know how to handle and manage money. Teach the how money is useful in life and lets them also know how money can multiply if it is used wisely. Teach them the basics of residual and passive income. They should learn how to create multiple pools of income. Profits and losses are common in everyday life. Train your children the art of saving money and the ways in which they can save it.

Sowing the seeds of entrepreneurship among children is a difficult task. Not every child is interest in becoming an entrepreneur. Some children may display this behavior as they grow old and become adults. Extremely gifted children may display that behavior when they are young. However, parents can put efforts to train their children to learn more about entrepreneurship and business principles. When a child learns these principles, you can expect him or her, at least, to think about becoming a true entrepreneur. Continue to read Raising a Successful Child Entrepreneur - Steps to Entrepreneurial Stardom.


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