Make Your Child to Entrepreneur
All parents want to give their children every advantage possible to live a fulfilling and independent adult life. However, many children arrive to young adulthood somewhat clueless in terms of livelihood.
Dear parent, if you want to make your child to Entrepreneur, you can join us for prepare your child thinking like Industrialist.
We believe in the potential of kids and the need to inspire entrepreneurship at an early age. Having grown up in an entrepreneurial household and been fortunate to have worked with entrepreneurs and become an entrepreneur.
There are many studies that suggest that the environment you grow up in effects who you become.
Give an opportunity to your child to setting up a small business and appreciate to sell product around their neighborhood. Let your kid take the lead, but offer support and guidance as they try out a new venture. It’s okay if they fail or don’t turn a profit. It’s all part of the learning experience. Failing at a business will teach your kid valuable business skills and help them refine their next venture. Failing as a kid when the stakes are low is a lot better than failing at business as an adult. Build the foundations of good business sense while your child is young.
Talk about business plans and money management. How many kids learn how to write business plans in school? Your child’s business plan will probably be very simple (e.g. shoveling driveways), but it’s a great way to learn about fundamental concepts such as profits/losses, business expenses, and breaking even. Ask them about how they plan to advertise their product or service. This will help your child consider all aspects of running a business.
Your child won’t learn how to track expenses and revenues or file his or her taxes in school, so it’s up to you to fill in the gap. Sit down with your child and teach them proper bookkeeping and provide a rundown of business tax laws. This is one of the main challenges for people who try to go into business, so give your child an advantage by helping him or her navigate the more tedious aspects of business early on.
Remember it self and give lesson to their child Give a man a fish and he will eat for a day; teach a man to fish and he will eat for a lifetime. Take this approach to parenting to help your child be more independent, savvy, and more likely to make a good living as an adult.
Money is an essential part of life, and it’s never too early to teach your children its value and the importance of saving, so they will be equipped to spend sensibly when they grow up. Learning the principles of responsible handling of money should give them many opportunities for advancement when they are older, which is why it is important that, even at a young age, children cultivate a respect for money.
Planning for future spending motivates your children to achieve their savings goals. It reminds them that with enough money, they can buy whatever they want. Allow them to dream big, and encourage them to save more, so they can achieve their goals more quickly.
Give your children their own allowances when you go shopping. Then you can observe their attitudes towards spending money. If your kids want to spend more than their allowance, advise them to be more frugal and more patient. Educate them on sensible spending and explain the priorities when shopping.
The best way to teach your kids the value of money and the importance of saving is to lead by example, and allow them some responsibility. Give them an allowance for the things they might want to buy, and encourage them to save in various ways. Familiarize them with simple record keeping and the way savings accounts work, and leave the credit cards at home when you shop with the kids. These simple but effective measures will help them to learn how to handle money responsibly, and equip them for adult life.