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Want a Better Life for Your Children? Teach Them to Be Entrepreneurs

By Edited Oct 7, 2016 2 2

What if I Told You Your Child Could be a Millionaire?

The idea is certainly exciting. Everything you've ever wished for your children is probably flashing through your mind. Security, freedom, no worries, none of the hardships and tough decisions you've had to make through the years. It may sound like something from a dream. But yes, this dream can come true. Starting today, you can teach your child how to become an entrepreneur and start helping them build the skills they'll need as they build their empire.

Millionaire Status
Credit: © Galina Barskaya | Dreamstime Stock Photos

Encourage Them to Do What They Enjoy

Passion is key to any entrepreneur's success. Support them in any creative endeavors and encourage them to pursue new activiites. The more they can discover, the better. That karate class your son has been begging for might just be the thing that influences him to open his own dojo.

Teach Them How To Manage Money

The idea of money management is something just about everyone could be a little better at. So why not give your child a head start on learning the do's and don'ts of the financial world. Teach them how to budget their allowances and show them the benefits of saving. Regardless of what else they do in life, good money management will always take them far.

Money Management is Key
Credit: © Johanna Goodyear | Dreamstime Stock Photos

Help Them Learn How to Stay Organized

Good organizational skills can take your Average Joe to a Rock Star in the business world. Having what you need right when you need it, and thus being more efficient, can make all the difference. Start developing those organizational skills by introducing simple concepts. Help your child make a checklist. Include homework, chores, and other daily activities to strengthen their ability to prioritize their day.

Let Them Become Leaders

Last, but most importantly, any entrepreneur needs to learn how to be a leader. Whether they own a small business with only five employees or become the CEO of a Fortune 500 company, leadership skills are crucial. Encourage your children to vocalize their opinions and express themselves. Listen seriously to what they say and help grow their confidence. This more than any other trait will be fundamental in their success.

Ideas to Get Them Started Today

So, ready to get started? Here are a few business ideas for your children to start growing their entrepreneurial wings...

 

  • Babysitting
    • This time old profession will always be in demand. Surely someone you know knows someone else who would love a night out on the town. Zero start-up costs and pure profit, can't ask for much more than that!
  • Ebay
    • Does your son have action figures that other boys might love? Does your daughter have Barbie and all her friends and every accessory? Sell these items in lots and let them watch their money grow. Plus it's a great way to get rid of extra toys!
  • Crafts
    • Is your child an artist? Let them dive into their creative minds and produce pieces to sell. From paintings to jewelry, from greeting cards to household knicknacks, they can experience the joy of selling their own creations. Look into setting up a profile on Etsy if you're having trouble finding customers in your area. The world is their playground!

These are just a few ideas. Ask your child what they would like to do and help them research their idea. Who knows, you might just have a millionaire on your hands.

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Comments

Sep 26, 2013 11:07am
waqasjavedkhan
Great tips thanks.
Sep 26, 2013 5:57pm
J27amie
Thanks! I'm glad you liked it
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