It is believed that there isn’t a particular age for an individual to start a business of their own.
In a society like ours it becomes difficult for a young person to start a business venture due to lack of support weighed on their age. Why do parents wait for their children to grow old and then give them the opportunity to start one of their own? If you want your child to grow up to be a successful entrepreneur it is suggested to raise them with an entrepreneurial spirit.
It’s not necessary for your child to grow up to become a doctor, or an engineer or a scientist. Not every child grows up to be one but that doesn’t mean that your child isn’t sharp enough or intelligent enough to succeed in life. If your child appears to be business minded, has a love for money give them the space, creativity and discipline they require and need. As a parent it is your duty to inspire entrepreneurship by fostering the emotional skills, your child will need such as comfort with risk, effective problem solving and positive attitude towards failure. This article shares some parenting tips to foster entrepreneurial qualities in your child.
1. Sustain Effective Problem Solving:
One of the keys to building a successful startup is the ability to come up with a unique business idea. In order to prepare kids to find business ideas in everyday life. Parents should sustain their problem solving kids when they are young. When faced with a problem in your child’s life, brainstorm and find solutions together. Help them identify the problem, think of all the possible solutions, weigh the pros and cons, and choose the best option.
2.Help kids learn from failure:
As a parent it is your duty to help kids learn from their failure and try not to make them feel ashamed about it. Learning and trying again is an essential skill for an individual to become a successful entrepreneur. Make your child handle criticism in a positive way and not take it personally but perceive it as an opportunity to help them improve.
3.Let kids make their own decisions:
An entrepreneur’s confident decisions are rooted in early independence. Give your child the authority to make their own decisions and help them own those decisions and feel good about it. It is advised that when kids are young parents should limit choices to few options so that they don’t get overwhelmed and as they grow older loosen the reigns and trust them with bigger decisions.
4.Foster a sense of mastery over your child:
When your child faces a risky situation helps them first, and then transit towards independence. Tasks should be progressively more difficult. This gives the child a sense of mastery. By setting them up to succeed, you empower them to feel confident taking risks. Taking risks is one quality of an entrepreneur that makes him/her successful.
5.Teach constructive ways to challenge the status quo:
Kids are often taught to follow the rules blindly, a habit that inhibits entrepreneurship. Instead, teach kids to challenge norms constructively by articulating their rationale. Ask, what do they think needs to change and why? What do they propose instead? And then help them come up with conclusions that fit best with their circumstances.
Thus, to conclude, it is essential for youth to participate in innovative ideas and for parents to give them the platform to think independently, create and aspire.