10 Steps to Teaching Your Kids to Become Entrepreneurs

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When I go into schools, or run my 1-2-1 sessions here in my Tudor Farmhouse, I always have enormous fun getting children to walk their  own Life Timeline and plan lots goals they’d like to achieve – from swimming with dolphins, to running their own business to going on holiday in Brazil.

I really love playing lots of motivational music and helping them visualise achieving their goals however large or silly they may sound because I believe I am helping them turn their dreams into a goal with a date, as all successful people from Albert Einstein to Richard Branson have done the same process.

Did you know that people who write down their goals are over 80% more likely to achieve them?

So just imagine the possibilities for your children if you sat down with them and had fun writing out some simple goals.

Here are some ideas:

Goal setting is vital for their future success.
How to talk & teach: Ask your children to really think about where they’d like to live, where they would like to visit, what sort of work they would like to do, who they would like to help, and get them to write down their top 10 goals and then choose the one goal that would make the biggest positive impact in their life.

That goal should be their main focus.

Next, write down the small, baby steps they need to take to accomplish this exciting goal and encourage them to start taking action on those steps immediately.

For example if they want to play in a band , get them to buy a guitar, then take guitar lessons, then put an advert up in their school for people who want to join their band ….. you get the idea!

Teach  your kids how to recognise opportunities  

Many people never meet their full potential because they fail to recognise opportunity. Teaching your children to seek out opportunities and take action on them, will directly contribute to their level of future success.

How to talk & teach: Praise your children for pointing out small problems, obstacles or setbacks in their lives that cause them distress from arriving a bit late for school in the morning because they don’t get organised the night before, to not getting 20 out of 20 correct spellings in their Spelling Test because they don’t practise them enough but then  get them to start focusing on solutions. This develops a solution focused attitude to Life which is very helpful.

Brainstorming solutions on how to resolve their troubles will teach them to focus on creating positive solutions, instead of focusing on the problem itself. This habit will allow them to create profitable ideas in their future businesses.

Selling is involved in every part of life 
This one ability will last a lifetime because it is applied to all types of businesses and careers. From selling products and services to customers, to raising capital from investors, this skill is vital to the success of any business.

How to  talk & teach: Encourage your children to start with small projects like selling their old toys, starting a lemonade stand, or selling handmade goods. Let them price their products, sell to customers, and facilitate the transactions when sales are made.

Financial literacy is a must

This is one area that we all could use help with. Teaching children about money at an early age will instil a financial foundation that schools often fail to teach.

How to talk &  teach: Give your children the opportunity to earn their own money through doing chores, their own small business, and helping you in your business. Teach them about paying themselves first and then giving back. Educate them about investing and how their money could be used to create more money in the future. Help them set up a bank account and learn about how to budget their income.

As a former Deputy Head I think….

Schools are wrong about FAILURE

In school we were all taught that failure is bad. In the entrepreneurial arena, failure can be a great thing if a positive lesson is learned. Napoleon Hill, author of Think And Grow Rich, wrote that, “Every failure carries with it a seed of equal or greater benefit.”

Allowing your children to fail will force them to create new ways to accomplish their goals and learn from their mistakes. This will lead to confident children who know how to persevere when times are tough.

Read more simple ideas here. and if you’d like your kids to come and dance round my kitchen table setting their goals then give me a call on 01342 833355

If you’d like to read a super book buy a copy of “Enterprising Child” by my friend Lorraine Allman  which is a fascinating and practical book providing a roadmap for successfully encouraging, nurturing and understanding your child’s entrepreneurial characteristics so you can feel relaxed, positive and confident in your adventure to  unlock your child’s true potential.

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