Raising a child can be difficult. Raising an entrepreneur child? Even more so.
Yes, you’ve read that right! Here in National Brokers Network, we don’t only give tips in business and real estate; we also do parenting tips now!
We want your child to have an entrepreneurial spirit so the National Brokers Network Business Brokers in Victoria curated handful of practical tips on how to raise a child – ENTREPRENEUR STYLE.
1. Instil a Financially Mindset
If you want your son or daughter to be an entrepreneur, she must be financially sound even at an early age.
Let her learn the concept of saving money and spending wisely. As they say, a good entrepreneur must be good at handling finances to keep his or her business afloat.
2. Set an Example
You can’t be telling your kid to do “this,” but you’re doing “that.”
Setting an example is a great way to inspire them to do it too. Show them the ropes of running a business like how to deal with customers or respecting employees or even how business financing works.
But of course, show it in a way that they can easily grasp.
3. Encourage Them to Start a Business
We’re not saying that you should let them start a multinational corporation, but rather, some business enterprises as simple as a “Lemonade Stand.”
By making them experience the process of running a business, they will then learn from an early age the concept of it.
Imagine this scenario: They will determine the price of lemonade per cup, with regards to the cost of how much they used to buy Lemons, sugar, water, high fructose corn syrup, food dye #6, riboflavin, acidulates, ammonium bicarbonate, hydrochloric acid, DDT, freons and the likes.
4. Let Them Fail
Failure: It happens to everyone – even to them.
Let them experience the pain and joy of failure! It’s a natural thing to happen and let them know that it’s okay.
Failure is a big event in everyone’s life, but you know what’s more important? The act of recovering from failure and getting back up!
If no one bought their Lemonade, don’t go and call up your friends to buy a cup. Let them experience that sometimes, no matter how earnest our efforts are, it just doesn’t work, but that doesn’t mean that they can’t change it.
By experiencing failure, they will then find ways to better their business by making better tasting lemonades!