Entrepreneurs are a rare breed, with a unique combination of ambition, determination, courage, and a little crazy all mixed together. Many entrepreneurial traits are certainly very desirable, for adults and children alike. Fostering these values at an early age is important to raising kids who will be successful business owners and employees in the future. Here’s how you can get started encouraging the entrepreneurial spirit in your kids.
No More Allowance
Kids who receive an allowance for doing nothing more than living learn that money is a right to which they are entitled rather than a privilege they must earn. Pay your children for chores completed, errands run, or problems solved and they will quickly learn the value of a dollar. When they want to purchase something, make it clear that they can have it – provided they pay for it out of their own pockets. This will instill from a very early age the concept that hard work has its rewards – and that the way to buy more of what they want is to make and keep more money on hand.
Find What They Love to Do
All kids (and adults, for that matter) have passions and dreams. Find out what really makes your kids’ eyes light up – ask them questions, experiment with them, and help them explore. Together you can then come up with a business model centered around what they already love to do. Do they like helping you with yardwork? Perhaps they can start a business weeding, mowing, and raking for neighbors. Do they adore pets and enjoy walking the family dog? Maybe a dog walking and grooming service is more up their alley. Whatever it is, find a way for them to earn spending money that they enjoy – you’ll plant the seeds of entrepreneurial excitement for sure!
Show Them How You Make Money
Find a way to include your children in your business, whether it’s bringing them to your office a few hours a week or simply showing them what you’re working on when you’re typing away on your laptop at home. You can even consider paying them for helping you with simple tasks around the office. They may be bored at first, but they’ll gain an appreciation of what you do all day and what it takes to earn the money that supports them.
Give to Others
All this knowledge of how to make and spend money is valuable, but it’s also important to teach your children the value of giving their hard-earned dollars to those who are less fortunate. Seeing just how far even their meager earnings can go to brighten the life of a child or family in need will teach invaluable lessons about charity and altruism. Making the world a better place is the ultimate goal of an entrepreneur. The sooner your kids understand and embrace that, the better.
The Entrepreneurial Spirit
Fostering the entrepreneurial spirit in your children is important, but so is working with business partners who share your values. At 360 Payments, we’re entrepreneurs too, and we get it. We wake up every morning excited to help business owners achieve their goals and chase their dreams – and we’d love to be part of your journey. Give us a call at 1-855-360-0360 or drop us a line on our website. Let’s build something special together.
PS – Ready to launch your first startup? We’ve written a blog to help you get started.
PPS – Even if you’re not quite ready, starting a blog is a great way to start getting your personal brand out there.