Entrepreneur, by definition, means to take on greater risks in order to organize and operate their business or businesses. Imagine the amount of confidence and resiliency one has to have to take a leap of faith in their ideas. This mindset, drive, and confidence, is something that we aim for our children to acquire for not only their career path but also their day-to-day lives.
Developing the mindset of an entrepreneur is critical, even if there is no desire to start a business in the future. The goal is to nurture a strong-willed mentality that gives them the confidence to make a change in their world through their passions and to successfully do so.
1. Teach Proper Goal Setting
As businesses, one of their top priority is creating and tracking their goals. As adults, we are more likely to reach our personal goals when we write them down in an effective way. One practical technique that we can teach our children is S.M.A.R.T.
S - SpecificM - Measurable
A - Achievable
R - Realistic
T - Timely
Showing your kids how to think about what they want and then go after it will give them the spirit to think bigger and take effective action.
2. Teach Resiliency
Every successful entrepreneur has heard a thousand “no’s” and been faced with closed doors. They have learned to either go to the next door or to open the window. When learning how to walk, they get up and try again. When learning a new topic in school, stay focused and ask for help. When they apply for job opportunities or auditions, instead of staying stuck on rejection, they grow their skill sets and keep going. Learning resiliency is necessary for business and everyday life.
3. Teach Financial Literacy
Most unsuccessful businesses, and adults in general, disregard the importance of managing their money. Teaching your children financial literacy and how to properly handle their money will give them the proper tools to succeed in their lives and any future businesses.
Regardless of whether your kid chooses the entrepreneurial path, the skills and mindset of an entrepreneur will give them a world of possibilities and the courage to take risks in that world because they believe in their ability to do so.
By Adena Patrice
Click here to watch and learn how Sumer Strawbree started her entrepreneurial journey.