Type “entrepreneurial child” into any stock image site and the results show kids in suits, kids holding meetings in boardrooms, kids behind thriving lemonade stands and kids shaking hands with other kids. Let’s make one thing clear. I do not care if your child starts a business. What I do care about, however, is that if your child decides, of their own accord, at some point in their life, that they want to start a business, they can.

Some grown-ups never consider becoming an entrepreneur. They see it as a risk. They don’t have the confidence that taking the leap requires. They have been talked out of it by someone else. They fear failure. None of these are good reasons not to start a business.

If those fearful adults had been raised to be entrepreneurial, they would now be living life according to their own agenda and making decisions based on their own ability, instead of the opinions, agendas and pessimistic projections of the people around them.

 

Through my work I have been able to distil the childhood trends of successful entrepreneurs and gain an insight into how these individuals were raised and how parents are actively passing on their skills to the next generation.

 

What does entrepreneurial really mean?

Entrepreneurial means confident, positive, creative, resourceful, and resilient. An entrepreneurial person is someone who is faced with a problem and works out the solution. Their convictions rally a tribe and their ideas pick up momentum. An entrepreneurial person makes their own decisions and never forgets they always have choices. An entrepreneurial person doesn’t need to be an entrepreneur.

 

The sooner someone operates in this way, the sooner it becomes a habit, and the more they dictate their own future. An entrepreneurial kid is practicing this now. An entrepreneurial kid is heading towards a future of possibility, of happiness, abundance and success, whatever success happens to mean to them at the time.

 

From gathering hundreds of stories from entrepreneur childhoods, here’s the four-part framework for raising entrepreneurial kids:

1.   Cultivate the mindset

Instilling an entrepreneurial mindset involves looking both inward and outward. Inward: at the mindset and attitude someone develops towards how they see their own abilities, how they frame success and failure and how confidently they approach new situations. Outward: the belief that they can positively effect change or create something of value, or how they view work and what its place might be in their future.

 

Entrepreneurial people look at change and see opportunity. They look at disruption and see a chance to add value. They look at problems and see solutions. They are challenged and they rise above. They are doubted and they exceed all expectations. Day-to-day experiences bring ways to model this mindset and behavior within a family and at school.

 

In practice, helping someone to develop an entrepreneurial mindset means assisting them to believe in themselves and to dream big about what their future could hold. It means guiding them into seeing the best in others and situations. To view disruption and change positively and to truly believe that they are strong and capable enough of overcoming barriers.

 

To understand the huge value, they could bring to the world. To learn commitment and the value of practicing to reach mastery. It means seeing mistakes and failures as opportunities to start again, to do better, or to learn.

How to raise entrepreneurial kids

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2.   Develop the skills

Developing entrepreneurial skills involves practicing elements of work that entrepreneurs use all the time. These include pitching, negotiating, making decisions, leadership, customer service and creative thinking. Raising entrepreneurial kids means finding everyday ways to incorporate fun challenges that nurture these skills.

Seeing someone skilled in their work or hobby is awe-inspiring. Their competence appears innate. When watching, consider how much deliberate practice led to that level of unconscious competence. From seeing someone expertly work a room, present an idea, handle objections, or guide someone through a decision they’re struggling with; it’s clear that the earlier someone learns these skills the more second-nature they will be in the future.

 

Develop entrepreneurial skills by encouraging healthy debate, setting age-appropriate tasks and challenges, and practicing coming up with ideas and solving problems. Turn learning these skills into a fun game and keep it light-hearted.

 

It might be negotiating together over what’s for dinner, making informed decisions about planning the week, or putting a young person in charge of an event or trip. Perhaps you could have a conversation about ways to help people or create your own framework for decision-making.

 

3.   See opportunities

Being introduced to entrepreneurial opportunities involves playing and experimenting with business ideas within a secure and risk-free environment. Letting them experience and interact with real-life entrepreneurial scenarios that open their eyes to the possibilities. Being open to opportunities means seeing with a mindset of possibility and abundance. It means believing that opportunities are everywhere, they just have to be found; like a treasure hunt.

Great entrepreneurs constantly think of new ideas for products, services and businesses. Whilst they discount 99% of them in favor of focusing on the few that they are committed to, their brains become trained to seek out opportunities.

 

They work their ideas muscle every day and success is inevitable. Guiding a young person into an opportunity-seeing mindset involves thinking in that way yourself. It then involves asking the questions that will mean they carefully consider their own path, whilst adopting a playful stance of “Let’s give it a go!”, and “Why not?”

 

Introduce entrepreneurial opportunities by discussing the businesses you encounter every day. Ask how they work, who they serve, and which problems they likely encounter. Understanding the needs of the businesses all around you helps someone think in that way. Progress this further by helping to spark the ideas they could get involved in.

 

What could be possible with these things in the garage that we don’t need? With the messy garden. With the neighbor’s dirty car? With the invention that could really help solve that problem. Ask, “How could you be part of the solution, and what will you do about that?”

How to raise entrepreneurial kids

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4.   Meet mentors and role models

The final part includes introducing them to a variety of people, from all backgrounds, who have chosen to be entrepreneurs. It could include talking to them about their work, their day-to-day, and their lifestyle; offering opportunities for learning and emulating. This also includes you, as their most important entrepreneurial mentor. Ensuring that you set a great example and model the entrepreneurial behaviours you are looking to pass on will be instrumental in raising entrepreneurial kids.

 

Many entrepreneurs had an entrepreneur parent. They grew up experiencing a particular way of thinking and acting and they emulated it until starting their own business became the obvious option when choosing their career. With or without an entrepreneur parent, role models are paramount. Seeing someone who is doing amazing things opens up someone’s eyes and mind to what they can do themselves. It helps them see the behaviours and attitudes that create confidence, ownership and success.

 

Introduce entrepreneurial mentors by exploring the journeys of people they can be inspired by. Become fascinated with parts of their journey. Why did they do that? What did that lead to? What was the effect? How did they demonstrate courage and resourcefulness even through adversity? Many well-known business owners had a role model from an early age, to whom they owe thanks for the essential lessons it taught them.

 

What if we were as intentional about raising entrepreneurial kids as we were about building our businesses or planning our week? How incredible could someone’s life and career be if they were relentlessly confident and resilient and consistently had a growth mindset? This is not about being prescriptive, or a pushy parent. This is about unlocking someone’s potential, to give them a solid foundation from which they can do anything they put their mind to.

 

Source: Forbes.com

Writer: Jodie cook

 

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