Welcome to the second post in this series about how to raise kids to be entrepreneurs. I’m excited to dive more into exactly HOW we can encourage our kids to develop an entrepreneur mindset. Raising a kid entrepreneur is an exciting journey for the whole family! If you missed it, be sure to check out the first post in this series – Raising Kid Entrepreneurs – Cultivating an Entrepreneurial Spirit.
Connecting Entrepreneurship to Homeschool
Homeschool is the perfect environment for encouraging our kids to develop entrepreneurial skills. Homeschooling allows us the freedom in our schedules to go down this exciting road with our kids. This is the perfect opportunity to bring real life meaning to traditional school topics.
Even if your kids aren’t cut out for business ownership, raising them to embrace an entrepreneur’s mindset will instill fantastic skills that are vital regardless of career choice. Persistence, dedication, attention to detail, organization, and problem solving are skills that will benefit your kids for a lifetime.
Related Post – Raising Kid Entrepreneurs – Cultivating an Entrepreneurial Spirit
Follow Their Ideas
Raising a kid entrepreneur starts with inspiration which can strike at any moment. Be ready to help your kid move forward with their ideas – even the crazy ideas. You don’t have to drop your plans that day (although it can be a fun detour!), but set aside time during the next day or two to help them with their idea. And follow through!
Encourage them to see their ideas to completion. Yes, entrepreneurship is about building a business, but first they need a product or service. It all starts with these ideas. Letting them see their ideas to completion will help them flush out their ideas to see what may or may not be a viable product or service.
Part of the fun of heading down this road with your kids is going through this experimentation process. Let them run with ideas, but also move on to another idea if their inspiration takes them in a new direction. This process often looks a lot like unschooling. (But don’t let that scare you if you’re not an unschooler!)
When inspiration hits, help them…
- Brainstorm to work through their idea on paper
- Make lists
- Head to the library for books, videos, and magazines
- Search Google
- Find YouTube videos
- Gather supplies
- Build a model of their product
- Practice the skills needed to build product or provide service
- Continue to ask questions, experiment, and create
One of many of my kids’ inventions – a kite with a solar powered motor.
A Kid Entrepreneur without an Idea?
It’s okay to serve up some inspiration when needed. It’s perfectly normal for kids to want to create something to sell or market a service, but not have many ideas to pursue. Offer a few suggestions to see if something sparks an interest. A few ideas…
- Walking a neighbor’s dog
- Pet sitting
- Yard work
- Mother’s helper
- Making crafts for a craft show
- Car wash
- Bake sale
For older kids, many times inspiration comes from trying to solve a problem. Do they see a need somewhere that they can fulfill? Is there a product that would help them (or someone else) with a task? Do you find them saying, “I wish I had something that could…” What would it look like to guide them to solve that problem or provide that service for others? Here’s a great video about a kid entrepreneur who created something amazing. It all started with being bored!
Connecting in the Community
Help your kid entrepreneur connect with people in your community who are already making a similar product or providing a similar service. These people are a great source for encouragement. This is a fantastic chance for them to sharpen their interviewing skills and learn from other entrepreneurs. Perhaps this can even lead to an apprenticeship or internship arrangement for older kids. The beauty of the internet really shines here because “community” can also be an online community which is really helpful for those in small towns or rural areas.
My youngest writing out her business plan for her dog walking service.
Making it a Business
The whole point of helping kids become entrepreneurs is to help them create a business. Yes, a business can be a way to earn money. There’s nothing wrong with helping a kid develop a product or service that others want to purchase. Sometimes, adults will purchase products or services from kids just because they’re cute. That’s fine when kids are just starting out, but it’s important to help kids develop their products and services, so they can get out of the pity sales stage. Pity sales will only go so far, and many kids will pick up on it eventually. It can quickly derail their motivation. If you notice pity sales, don’t bring it to their attention. Instead, help your kids polish and fine-tune their creations or service. I’ll be diving more into transitioning it to a business in my next post in this series.
Heading down the entrepreneur path with our kids can be an exciting adventure! I love watching my kids start with the question, “What if?” and follow their inspiration with experimentation and problem solving. This is where homeschooling can really shine. We have the freedom to encourage our kids to use their creativity to the fullest. This journey helps kids build vital life skills that will serve them well for years to come.
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