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Raising a child to be business savvy isn’t complicated at all. Here’s how to nurture future job creators.
Are Entrepreneurs Born or Made? Whichever you believe, the environment matters to grow, and the same is true for future Patrice Motsepe and Iperen Muhari.
Both my parents are entrepreneurs who made the leap from the corporate world. Growing up, I got to witness their ups and downs. When I decided to leave the company, I had a realistic understanding of what running a business entails.I want my kids to know that anything is possible. ”
Lulu Mutsikira, CEO of Namasaya Creations, said:
Many successful global entrepreneurs started their businesses at an early age, like brothers Matthew and Adam Toren. Kidpreneurs: Young entrepreneurs with big ideas! found. For example, Tony Hsieh, his CEO of the online clothing store Zappos.com, started turning old photos into buttons and clips to sell when he was 12 years old. But our economy is not the most stable right now.
My mother was a school principal and had a pay phone in her garage to supplement her disposable income. She worked out of town and stayed home on weekends, so during the week I was responsible for managing the business. I was. I used the money I earned from my business to buy snacks, which I then resold at school and during my commute. I made money and my mother didn’t know it! By the time I finished school, I wanted to be my own boss.
Ngwako Ramohlale, Founder of the Nunnovation Africa Foundation
By getting kids to not only talk about money early on, but also have business acumen, we can nurture future solutions to our economy. , starts with raising.
1. Get your money smart
Our relationship with money is greatly influenced by our parents and background.
“Our children don’t ask us what we should do, what we should do, what we should do. They do what we are or become. I want
That’s why Precious Mvulane, managing director of GAD Consulting Services and author of The Essential Finance Handbook for Entrepreneurs, suggests teaching kids important money principles early on.
“Give your kids pocket money instead of just giving it away. Teach them to understand that money is a reward for solving problems,” says Mvulane.
Not only that, but changing the way you talk and spend money as parents can affect your child’s well-being.
2. Develop talent
Allow your little one to be themselves and explore their passions. Because that’s where their strengths and possible business ideas come from, Selesho explains.
“Many companies die because entrepreneurs doubt themselves. Teach your kids to focus on what they are good at instead of trying to teach them to do better at other things.” If your child is bad at math but loves running, get him a running coach,” she adds.
Clinical psychologist Teboho Monyamane-Clifton says that having self-confidence and a strong belief that something will succeed are necessary personality traits to become a successful entrepreneur.
“Not everyone can run a business because it involves a lot of risk. Some people are risk averse. increase.
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3. Listen to what they think
It is very important to encourage your children to explore the ideas they come up with, even if they may seem impractical or not very meaningful to you as an adult.
“Business-minded children tend to solve their own problems. In addition, to have an independent mindset, parents should provide a platform for their children to test their ideas. We need to take them to our workshops and get them to participate in the school market,” Mvulane suggests.
Their crazy ideas can create passions and ultimate ends, such as making clothes, cooking, farming, building cars and houses.
“Set aside time to help children clarify their purpose and watch them become future creators and investors. They start great businesses and become great influencers.” and most of all, live a purposeful life,” Selesho enthuses.
4. Build their business
Help them write down what they want to do, discuss how they plan to achieve it, and brainstorm how much capital they need. By taking their ideas one step further, you’ll learn valuable lessons about responsibility, hard work, and money management.
5. Allow for failure
Monyamane-Clifton stresses that nothing is easy.
“Let children solve their own problems. If you allow them to fail, they’ll realize things aren’t always easy. Then they’ll know what works and what doesn’t.” Encourage rather than criticize,” she adds.
From an early age, my mother has been in and out of several entrepreneurial projects. Growing up, I was exposed to creative problem solving. That shaped my entrepreneurial drive. ”
Vuyi Zondi, Founder of Corium Skincare
smart money ideas for your youth
Your child can explore the business of sales, services, or skills. Here are some original ideas from Selesho and Mvulane.
beauty: Children can learn how to make natural, environmentally friendly soaps, cosmetics, and hair products.
car wash: Older kids can set up a weekend car wash at home. It doesn’t cost much to establish it. Art with Heart: Use your artistic skills by creating or designing and selling greeting cards and postcards.
Social Media Influencers: If your child is a funder of a particular topic or area, they can build a niche following on social media.
Online Reseller: Selling infrequently used clothing, toys, and other household items is a great way for kids to learn about e-commerce.
author: It is important to teach children to share their experiences and thoughts. Kids can start a blog or write a book.
coding: If they are into technology and gadgets, they could be the next tech entrepreneurs creating witty apps.
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