Teaching children to grow into financially responsible adults has proven to be quite a challenge for most parents. You either don't know how to talk to your kids about money, you haven't a clue what to say if you could or you don't realize you're laying down the foundation for their
financial education whether you say anything or not.
Does talking to children about entrepreneurship at an early age make sense? Our school system is set up to lead our children into the workplace as employees, not employers. Now don't get me wrong, we as a society definitely need employees: police officers, firefighters, doctors, nurses, etc., but why not shine some light on entrepreneurship too?
Incorporating the principles and philosophies of success with emphasis on teamwork, community involvement, and entrepreneurship go well with all types of learners of varying ages. Children deserve the opportunity to at least hear about what entrepreneurship is, why they may want to be entrepreneurial, when they could do this and, of course, how to be an entrepreneur. We find that children are very responsive when talking about making money on their own. As early as six years of age, children are starting to realize the importance behind making your own money vs. working for someone else. Unfortunately, not enough children in the world are being introduced to this kind of lifestyle. So below you will find some great tips, in no particular order, to help introduce your child to entrepreneurship.
1. Story Time
A great way to get your child started is by sharing with them inspiring stories of kids today, who are already entrepreneurs. The internet is a great resource, making available great stories about kid entrepreneurs from around the world, what they are doing right now and how they are doing it. When sharing inspiring kid entrepreneur stories ask your children questions like: How did they do that? Why did they do it? Do you think you can do something like that? What makes you feel that way? If you get an answer like "I cant do that," then just follow up with "Well, if you could do that, how would you do it?" This usually gets an answer. Oh, and don't forget to show your kids pictures, watch video's or check out news clips of kid entrepreneur's. Its also quite effective when kids hear the stories right from another kids mouth.
2. Field Trip Fun
Contact local businesses, churches or news agencies to see if you could arrange for your kids to visit with them and get a behind the scenes look at how the particular business operates. Approach businesses that hold a high interest level for your kids. Let the places know that your interested in a behind the scenes look at their business operations for your children and their friends who are learning about entrepreneurship. I highly recommend that you bring your children's friends too, so you all can enjoy the experience together and so that your child has like minded individuals to discuss their findings with.
3. Raising Some Bucks
Have a fundraiser for a cause that is very important to your child or have them pick products they think they can sell either in the neighborhood or to local businesses. Let your kids bring in some of their friends that want to be a part of the action. Have them brainstorm ideas and narrow the list down to a few that they all agree on. Assist them in organizing the timing and the locations they conduct these "business meetings."
4. Make Planning Fun
Start planning with your kids. For the younger kids create a plan book from scratch, even some of the older kids can get into this too. Design it however they want. They can add stickers or make fancy title pages within their planner. The point here is for them to personalize it as much as they like. You can even pick up an inexpensive planner for their use. Talk to them about the importance of using the planner daily, and getting into the habit of planning for each day the night before. Explain to them how this will start to free up more time for them to do the things they want to be doing, instead of just doing the things they have to be doing as they become more focused. In addition to a planner/goal book, have children create a journal as well, writing down brief entries into a personal journal on a daily basis of things that interest or perplex them is a great way to get them started with being responsible, planning for their future, and allowing them time for natural, real world problem solving!
5. Use Your Imagination
Go online or to your library and search for wonderful places around the globe that you would love to visit sometime in your life. Have the kids look through books or at websites. Take notice as to what types of places intrigue them the most and talk about those places. Ask them what they would have to do in order to get to visit these wonderful places. Have them search how much it would cost to fly there if you were to leave today. What could they do to raise enough money for a trip like that? What other expenses may they encounter planning for a trip to that location? If its something they really want to do have them list it in their journal as one of their goals and then start to list all the things they need to do in order to reach that goal.
6. Break Out the Seasonings
Sharpen you children's sense and general memory by playing memory games/puzzles. Play silly and fun games like "Identify that smell" or "Name that object" where children are paired off in teams and try to identify blindfolded certain odors or identify what object they are touching without being able to see it. Not only is it fun but it will also help enhance the brain performance of its participants. Thereby increasing creativity and problem solving abilities, two key ingredients in becoming an entrepreneur!
7. Don't be shy
I know that there is a lot of old fashioned parents out their that think that the household finances should be top secret and not discussed with children. When it comes to bill time or any time money needs to be discussed, don't be shy. Share with children the expenses and income you manage each month and each year. Show them the bills you pay, how much they are, and when they are due. Explain to them how you make your payments on these bills. If you write checks to pay them, then have them help you with that. If you pay some of your bills online, have them help with that too. Don't be shy, show them how you balance your checkbook and keep track of your finances. If your not sure how yourself, research it online or at the library and learn it with your children. You would be surprised as to how many kids are actually interested in learning how to pay bills, balance a bank account, or even create a budget...and it increases their interest in math by giving them purpose for learning the subject!
8. Try Something Different
Have a "what I want to be when I grow up" party with your child and their friends; where everyone comes to the party as what they want to be when the grow up. Children play the role and parents encourage by catering to the children's needs. You can give prizes to the kids for acting their parts and encourage the role-playing. This will help them see themselves now as they could potentially become in the future, bringing the feelings of success of what it would feel like. By the parents catering to the "grown-ups" needs, the kids get the idea of what respectful/professional treatment would seem like when they actually reach their goals.
