Parents who are entrepreneurs often want nothing more than to have their children take over the family business one day. As most people know, having a successful business is one of the best ways to attain financial freedom, and this is why parents are so eager to teach their kids the basics at an early age.
But how does one teach business skills without being pushy about it? When it comes to kids, making things fun is one way to make learning easier. Furthermore, encouraging children to start their own mini ventures instead of forcing them to join the family business right away could impart valuable lessons which they could use in the future.
Here are some easy ways to teach kids how to be entrepreneurs.
Let them play business-oriented board games
Some old-school board games, such as Monopoly, teaches the basics of investing in real estate. Apples to Apples is great for developing critical thinking skills, while Clue helps children to gather information and make decisions to solve a crime. The Game of Life is also good as it teaches the value of having a college degree, and it also makes kids aware that the choices that he or she makes can affect the future.
Allow them to play video games
Not all video games are bad for kids. Some apps and games teach entrepreneurial values, such as "Street Food Tycoon," wherein kids get the opportunity to run a virtual food cart. "Motion Math Pizza" is also a good app as it allows children to run a pizza parlor wherein they have to do everything from buying the ingredients to interacting with the customer.
Let them come up with their own business ideas
Kids often come up with the most creative business ideas, so let them come up with their own concept for a small business. Even if the idea sounds completely ridiculous, try not to stifle their creativity. If you sift through their most ludicrous suggestions, you may find a unique business idea that might actually work.
Let them earn the funds for their start-ups
Support your children by giving them the funds for their start-ups. However, don’t just hand over the cash—give them a chance to earn it for themselves. For instance, you could assign a chore and pay them a corresponding amount once it has been completed.
For more, check out Jobs & Hire’s report on schools that produce the most founders of billion-dollar companies.
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