6 Tips in Raising Your Kids to Become Future Entrepreneurs

They say that if you want your child to be successful in life, you need to start teaching them as early as now. After all, childhood is the best way to instill values and skills that they could carry with them as they get older.

Surely, as a parent, you want to ensure that their future is bright and that they will be ready even when you’re gone. You might even dream that they will be the next business tycoon in spite of your humble beginnings.

Don’t worry. You can do that. With the right amount of push and encouragement, plus these tips, your child could be the next Henry Sy or John Gokongwei:

Tip No. 1: Guide them, but don’t do things for them.

As a parent, it is understandable that you want to make things easier for your kids. If you really want them to succeed in life, then you need to stop doing things for them and let them be.

Spoon-feeding your kids teaches them to be dependent on you, which is something you need to avoid. Show them how to do it and let them do it on their own. Later on, encourage them to do it by themselves.

Make sure you also ask follow-up questions like, “Can you think of another way to do it?” or “What happens if you do this instead of that?” This encourages them to think outside the box and develop critical thinking skills.

Tip No. 2: Encourage your kids to try new things.

This is important. Many businesses start with an idea that could change people’s lives and makes things easier.

Let your child explore and discover things on their own. If they want to experiment on something or showed interested about a certain activity, then go ahead and let them do it. Make sure to support their wants and never discourage them to think outside the box.

Who knows, their idea is the next big thing in the market.

Tip No. 3: Saving is a priority.

Saving is one of the most important skills everyone should know, regardless of age. As early as now, you need to stress the importance of saving for future.

That being said, teach your kids about the importance of money and having an Emergency Fund. Let them know the difference between needs and wants. Encourage them to invest more. Educate them about the importance of spending what they are earning.

More importantly, be a good role model. If they see that you are being wise in handling money, then your kids will most likely follow.

Tip No. 4: Avoid punishing them for their mistakes.

Everybody makes mistakes, including you and your kids. When your kid made a mistake or failed on a particular subject, avoid punishing them. Instead of encouraging them, you could create a culture of fear. This could hinder their plans if and when they decide to start their business in the future.

Instead of getting mad, tell them that failure is part of life. In fact, they shouldn’t be afraid because it will teach them valuable lessons.

The same goes with business. As an entrepreneur, your kid will face tons of challenges and failure, but these shouldn’t stop them from pursuing their dream.

Tip No. 5: Don’t underestimate the importance of social skills.

A lot could happen in a single conversation with a person you just met. This is why it is important for kids to learn social skills early on. It is a good opportunity to meet someone who could potentially help them in their future endeavors.

Bring your kids out to play, enroll them in classes if budget permits, or schedule play dates with your friends. There are tons of skills your child could learn and at the same time, helps build their confidence, too.

Tip No. 6: Teach your kids how to sell.

Business is also about selling. Even if your child has a great product that could change the world, this is useless if he doesn’t know how to sell it.

This could be tricky since not everyone are born to have good selling skills. Still, start small. It could be introducing a product first to your friends or allowing them to manage the social media page. The point is your kid will learn a certain skill through simple acts, so make the most out of it.

Are you ready to hone your future Bill Gates?

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