Step 1: Goal setting is important for future success. Teaching children how to set and accomplish their goals is vital. Ask your child to define and write down their top 10 goals and then help choose the one that would make the biggest positive impact.
Step 2: Help children recognize opportunities. Teaching children to seek out opportunities and take action on them will directly contribute to their future success.
Step 3: Financial literacy. Teaching children about money at an early age will instill a financial foundation that our education system sometime lack on teaching. You can teach by allowing children earn money through chores. Educate them about investments and how they money that was earned can be used to create more wealth for them in the future.
Step 4: Inspiring creativity will build marketing skills. Teaching children about marketing is a great way to prepare them to attract customers to their future business. Motivate children to observe marketing materials such as billboards, printed advertisements, televisions/radio commercials, which should give them an idea of how they want to market their material.
Step 5: Not all failure is bad failure. Teach your children that it is ok to fail at creating a business. Failure helps you learn from your mistakes and to not take that route in the future.
Step 6: Effective communication improves all relationships. Teach children that communication is very important when running a business. Lead by an example by showing children how to be polite and respectful to everyone. Most importantly eye contact when speaking in person. Showing your children how to communicate through telephone speaking slowly and clearly. Also, how to communicate through email.
Step 7: Independence creates confidence. The entrepreneurial mindset causes children to depend on themselves for their own success, which leads to well-rounded adults and future leaders. Teaching can be done by allowing your children to brainstorm ways to create money through entrepreneurship when they ask for their parent for a new toy. This inspires creative thinking.
Step 8: Get the advantage by becoming a leader now. Teach children how to lead a young age and to think outside the box. This can be done by given the, the opportunity to lead their friends in fun activities such as sports, clubs, small business projects.
Step 9: Selling is involved in every part of life. From selling products and services to customers to raising capital from investors, this skill is vital to the success of any business. Encourage your children to start with small projects like selling toys, starting a lemonade stand. Let them price their products, sell to customers, and facilitate the transactions when sales are made with their business.
Step 10: The art of giving back creates happiness. Teach children that every great business gives back to their community. This will allow your children to stay humble during periods of great success and it will give them the insight that a successful business provides benefits to more than just it’s owner. When brainstorming business ideas with your children, ask them to choose a charity or special cause to support with a portion of the income that they generate. Explain the concept that all great businesses contribute to improving the lives of other people.
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