The Entrepreneurial Mindset Can Benefit Kids Of All Ages
There is no age at which it is too soon to begin teaching your kids to think like entrepreneurs. So many life skills are also a fit for entrepreneurship that it can be easy for parents to teach both at the same time. And, teaching your children the entrepreneurial mindset can benefit adults, too, as it gives a greater sense of flexibility in advanced teaching. Kids naturally see complex concepts with a fresh perspective.
And, kids of all ages can come up with amazing inventions and ways of doing business. Did you know that earmuffs, the trampoline, and the popsicle were all invented by kids? Take a look at 5 things you can begin doing to teach your kids how to think like an entrepreneur, or how to learn to think like one yourself…
Tip #1: Brainstorming For Entrepreneurial Development
Teaching and learning how to brainstorm is the foundation of thinking like an entrepreneur. It is also a very important skill set for dealing with everyday life issues. Brainstorming allows for many options to be brought to a given situation, so that the best one can be selected.
Mind maps, also known as ‘idea webs,’ are an excellent brainstorming medium. You start with a central concept, or issue, in a circle at the center of a page or screen, and then draw lines out to other ideas generated by the core concept. Even more ideas are created in another layer from the previous set, and so on, and so forth. You never know where a mind map will lead.
Tip #2: Reasonable Risk For Entrepreneurs
It is important in life to be able to embrace reasonable risk. Being too risk adverse in the long-term can be detrimental to learning, career advancement, and making important life choices. When parents and teachers set up tasks for which success is not guaranteed, and there is a definite risk of failure, then risk-reward thinking is established. And, it is also critical to learn not to give up too soon, or just because something didn’t work as planned, in general. All entrepreneurs must learn how to calculate risk, and in fact, it is a skill all adults should have, no matter their career path.
Tip #3: No One Has All The Answers & Entrepreneurs Know This
This is something that entrepreneurs understand full well, and it’s something that benefits everyone of every age to learn, and continually consider… no one has all the answers. If kids growing up are too dependent on authority figures coming up with their solutions, activities, and all life plans for them, then it stunts independent thought, creative potential, and overall growth. If you are a parent or teacher, don’t hide your mistakes. Let kids see you make them, then own them and explain how you might do better. This teaches kids early on that no adult or authority has all of the answers in life.
Tip #4: Savings Accounts Are Important For Entrepreneurs
This is very basic and can be started by anyone at any time. If you don’t already have a savings account, it is good to set one up and contribute what you can when you can. Having a cushion of cash can make a big difference when the unforeseen in life happens… and it inevitably will, at some point. And, there is no age at which kids can’t start a savings account of some sort, even if it is under a parent’s name. This is a great place to store funds generated from household chores, lawn work, and goals met. It teaches how hard it can sometimes be to make money, and what a task it can be to save it. This leads to sound financial practices in the long run.
Tip #5: Good Communications Skills Help With Entrepreneurial Learning
For kids of all ages, the best learning often happens by example. And, in many life instances, the same holds true for adults. This is why it can be good practice when teaching an entrepreneurial mindset to limit screen time on smart phones and mobile devices. Learning good eye contact is also essential in business and general career endeavors. And, teaching children to send emails early on not only gives the opportunity to learn digital composition of the email itself, but it can reinforce, and better develop, good writing skills. And, ultimately, writing skills and communications are important for entrepreneurs, as well as for those who choose other career paths.
Considering enrolling your child in a Stride K12 school, for further education and career prep options and experiences? Now is the absolute best time to get started!
Want to learn more about future career readiness? Check out this Stride podcast on “How Can We Prepare Students For Careers Of The Future?”