Introduce Entrepreneurship to Kids

I am a mother of 2 kids,  3 years old and 9 months old.  My question is how would I introduce to my son the idea of having business mindset?

Considering the age of your son, we will assume that what you want is for your son to be oriented to entrepreneurship. Your desire to start him early so that entrepreneurship becomes second nature to him is commendable.

First and foremost, a business mindset is not the same as having a mathematical mind.  A business mindset is one that is oriented towards creation of products or services.  It starts with developing the interest in understanding how things work.   Constant questioning eventually leads to developing the ability to spot opportunities in finding new ways to fill particular needs of a given set of users or buyers.  Business orientation becomes second nature when one starts to focus on why and how certain products are distributed, bought and eventually used.

The entrepreneur is able to think through any matter of interest to its logical conclusion.  He doesn’t stop his thinking process until he has a conclusion.  And that conclusion must directly address his specific goal.

All other skills required like communication, marketing, even accounting (for non-accountants), would be simple enough to learn in due time.

Your child’s primary training should thus be on effective thinking process.  This should then be supplemented on activities or education that will bring out the child’s skills and interest. In fact, you should encourage your child to find his special interests and support special studies, if necessary.  But at the same time, inject the business aspect in that field.

In most situations, your child will imitate his role models and his first role models are usually his parents.  If you and your husband are into some kind of business, you are off to a good start since it will be natural that business matters come up in your conversations with each other.  Include light conversation sharing your business experiences during meals.  No heavy conversation making it boring or even scary for your son.  Try to make the stories sound matter-of-fact or even fun. A few thoughts on these follow:

Make the appreciation of money a game with your kids.  You could start to teach him money counting when you need to make payments and accept change.

Inculcate in him the difference between needs and wants. Show him the savings when he chooses only basic Needs and give him a reward when he reaches his savings goal.

From time to time, show him the joy in sharing. You could set aside an amount to donate to your church or community and be sure that you do not turn him into a miser!  It will take a lot of time and patience but I believe it will pay off in the long run.

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