4 Resources to Encourage Entrepreneurial Kids

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As we move forward in our fast-paced society, we will need innovative ways to encourage entrepreneurial kids. More and more parents are becoming entrepreneurs and quickly realize the lack and need for good resources. The earlier we can help our children foster the skills necessary to become entrepreneurs, the better. Below are several trusted resources that can help encourage the entrepreneur in your kids.

How to Teach Your Kids Entrepreneurship Early in Life

Before diving into those resources, let's first talk about how to begin teaching foundational skills necessary to become an entrepreneur. Even if your child decides later in life that pursuing being a business owner isn't something they want to do, they'll still have a load of beneficial skills in their pocket.

Help your child set effective goals.

This is one of the best ways to help your child put something into perspective, especially something they have to “work” towards. Help them brainstorm what they want to do, then develop a set of goals. Afterwards, you can begin helping them understand what tasks are needed to be accomplished in order to reach them.

Teach financial literacy.

These skills are one of the single most important things an entrepreneur needs. As your child pursues creating and running a business, they'll need to understand the balance of making money and investing it for maximum business growth. There are a number of ways to help them do this:

• Explain the differences between needs and wants.
• Make sure they understand what money really is (finite).
• Ensure they understand what credit is and how to use it properly (if necessary).

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Allow them to make mistakes.

Part of learning is being able to make mistakes and learn from them. If kids aren't allowed to make them, it will be hard to truly understand the cause, effect, and consequences. Take into consideration the maturity level of your kids and then teach them accordingly.

4 Resources to Encourage Entrepreneurial Kids

Lemonade Day

Lemonade Day is a fun program that can help teach your young entrepreneur how to start, own and operate their very own business – a lemonade stand! In participating cities, youth have the opportunity to experience entrepreneurship by setting up their business during their city's community-wide Lemonade Day. Check to see if this is available in your town and if not, I still recommend learning the ropes and allowing your children to set one up anyway.

Kid Entrepreneurship

This platform offers free programs for distance learning about all things entrepreneurship. It is conveniently broken up by age group so you can find the right program. They'll learn things like:

• developing a basic business model
• creating business ideas
• pitching the business model

Read Business Books

There are a lot of resources available for young business owners today, some of them being books that you can purchase or possibly check out at your public library. These will make a great read for young children wanting to become entrepreneurs:

• Lunch Money by Andrew Clements
• Ethan's BIG Business Plan by Yu-Ting Hung, Ethan Hsu
• What Do You Do With an Idea? by Kobi Yamada
• Payback on Poplar Lane by Margaret Mincks
• Starting Your Own Business: Become an Entrepreneur by Adam Toren, Matthew Toren

Take Specific Courses

If your young entrepreneur already has an idea of what they want to do, see if there are particular courses offered that can help them learn more about the niche they want to pursue. For example, I have a Graphic Design with Canva course that would be perfect for kids who want to learn more about digital design. Courses like these are also a good choice because they will help your kids know if they want to continue pursuing a certain type of business.

Udemy is another great website to explore when searching for online courses to help your kids develop their interests and talents.

Boss Club is another company that offers an amazing entrepreneurship class and business kits for kids.

Final Thoughts

There's no doubt that young children have big dreams and amazing creativity. For those who want to become business owners, these are just a few ways to encourage entrepreneurial kids. Overall, you want to provide your kids with the opportunity to explore what they have in mind and room to grow. What they want to be and do today could totally change tomorrow, but giving them the opportunity to bud and grow will foster more than you may think.

Do you have a little entrepreneur in your family? What are some ways you've helped foster their entrepreneurial desires?

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