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7 Parenting Tips for Encouraging the Young Entrepreneur in Your Child

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The next big idea could be right around the corner. In fact, it could be coming from one of your kids. Children today have an excellent grasp on social media and the world of opportunities the internet provides. Because of these facts, it comes as no surprise that many kids today are starting to pursue their entrepreneurial goals as early as six or seven years old.

One child-entrepreneur survey polled 1,721 students in grades 5 through 12 and found that 77% of students wanted to be their own boss. A whopping 45% said they wanted to start their own business and not far behind were 42% of students who said they wanted to invent something that changes the world.

These big ambitions for such young children need to be cultivated, and as a parent, you can help them make their business goals a reality.

From online learning classes to teaching kids about money, here are 7 parenting tips for empowering kid entrepreneurs:

1. Encourage their curiosity

Kid’s have brilliant minds. It is often said that it is easier for a child under the age of seven years old to learn a second language than it is for adults. Why? Unlike adults, they are still steeped in education on a daily basis. Their brains are ready to create new information more willingly than an adult mind.

The Teachers College Columbia University reports that this has much to do with the prefrontal cortex, which contributes to an inventive and creative outlook on things. This curiosity and ability to learn should be encouraged by parents. Help them take online learning classes or find opportunities to do projects with them that relate to their interests and ideas.

2. Take your children seriously

One of the main ingredients of good parenting is letting your kids know you understand and support them. Children’s minds are always changing and growing. One week they may want to be an astronaut while the following week they want to be a veterinarian. These flip-flopping ideas may make it tempting to smile and nod when your little one expresses their desires, but don’t be so quick to say no.

If your child wants to be a pastry chef and asks you if they can sell cupcakes in the neighborhood, why not say yes? Yes, the mind of a child can change from one minute to the next, but parents help their children grow and explore new ideas when they take their requests seriously.

3. Teach children the value of money

In order to build a thriving business, children need to learn how to manage their money. A child who receives an allowance of $15 will have $60 by the end of the month.

You can help teach your child both responsibility and the value of money by encouraging them to spend money wisely. By using basic math or putting up a pie chart on the refrigerator, you can teach your children the importance of saving money and investing wisely in products to pursue their goals.

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” – Ayn Rand

4. Teach that it’s okay to fail

In the same survey cited at the onset, 91% of entrepreneurial students said that they are not afraid to take risks, even if they fail.

Starting a business is a big job that requires your child’s patience, drive, and responsibility. Putting all this effort into a project only to have it fail can be crushing for a young child.

It is important for you to teach your children that it is okay to fail. Highlight that having fun, learning and gaining beneficial experience should be the primary goal of their entrepreneurial career, and not necessarily fame and success.

5. Help your child get started

A great parenting tip for empowering kid entrepreneurs is to help them get started off on the right track. Help them do research about similar products or ideas. Is their pricing, right? Is there a current need for their idea or business?

If your kid wants to become an entrepreneur, it’s your job as a parent to help them make it a reality. This means helping them learn how to market their service or idea. This may also involve learning how to manufacture a product and taking online learning classes about their interests.

6. Look for opportunities

If your child wants to launch a product or service, they’re going to need opportunities to be in the public eye. This can be done through social media, word of mouth, neighborhood canvassing, and even getting a hold of your city’s news station to have a piece done on the local child entrepreneur.

Taking your children to such things as trade shows can also give them the opportunity to network with like-minded entrepreneurs. There are also various online learning classes that can help parents and children discover how best to market a new product and make business connections.

“In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.” – Mark Zuckerberg

7. Make it fun

There are many successful child entrepreneurs with thriving companies today. At 12 years old, popcorn giant Orville Redenbacher, began growing his own popping corn in pursuit of the perfect kernel.

While his passion for popcorn did earn him enough to pay for his college tuition, no doubt, Redenbacher wasn’t thinking that he was going to turn his love of popcorn into a billion-dollar market. He was just having fun.

The same should be true for your little one. Childhood is a time for being carefree, not to be weighed down with worries and anxiety. One of the best parenting tips for encouraging little entrepreneurs is to make having fun the primary goal of their pursuit.

Follow these 7 parenting tips to help empower your child to pursue their entrepreneurial goals. Teach your kids the value of money, remind them that building a business should be fun, and get them involved in online learning classes to make the best of their budding entrepreneur spirit.

Which one of these tips do you feel is the most important to teach the next generation of entrepreneurs? Let us know your thoughts below!

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Lessons We Can All Learn From Martin Luther King Jr.’s Leadership

While reflecting on the magnificent life of Dr. Martin Luther King Jr. I began to uncover what truly made Dr. King such a powerful leader

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While reflecting on the magnificent life of Dr. Martin Luther King Jr. I began to uncover what truly made Dr. King such a powerful leader. Many revere him for the change he brought forth so it’s no wonder that he was heavily influenced by the man who said, “Be the change you want to see in the world”. He embodied that statement on the deepest level and lead people through one of the most challenging yet historic times in our nation. 

But what was it that made Dr. King’s movement so different than the rest? A quality that transcends ego and unites a people so divided? 

My greatest and most moving discovery while studying the life of Dr. King was the very answer to our question. 

Yes, he had the personality to be a leader, yes he had the bravery to use his voice, yes he evoked REAL change in government and policies, but the manifestation of all those comes from his willingness to lead a movement truly rooted in consciousness. 

A peaceful approach

Dr. King was continuously met with frustration, hate, and even violence by both law enforcement and those who wanted to fight for equality through violence. But the more violent things became, the more he dug his heels into a peaceful approach. Dr. King’s unwavering faith in the power to lead with peace and not violence is undoubtedly why his legacy is such a pillar of our nation still to this day. It is easier to fight.

Hate, anger and separateness from one another are primitive emotions on the emotional scale of well being but It takes awareness, understanding and elevated consciousness to move from a place of peace and understanding. Dr. King knew that we all have access to these states of higher consciousness and that our true power lies in a peaceful approach.

He is an example of the truest essence of our consciousness in this human experience. How to truly love your neighbor as yourself. 

Conscious compassion

Even the strongest opponents are human. Meet hate with love + compassion for the enemy” he said. It wasn’t his resistance to violence that made him a peacemaker, but rather his commitment to keeping compassion and connection to all humanity at the forefront of his movement. A profound understanding that underneath all the hate, violence and discrimination, we are all one. We all come from the same source and we are all human.

A conscious king

A man of his position, his power, his following could have been easily swayed by the human temptations of the ego. But he remained steadfast in his cause to bring forth real change. He understood on the deepest level that we are truly a stronger force in the universe when we move as one unit, with one mind, and one goal. That the separation from one another is the weakness of humanity. That our strength is in those things that unite us all, the qualities that give us life.

His success was in uniting not just the people of America but the consciousness of America.

No matter our gender, or our social class or our color, we all love, and we all seek peace. We all feel joy and happiness, we all want to be met with compassion and understanding. 

His cause went far beyond the need for physical freedom and equal rights. His cause was for freedom of mind, freedom of heart, freedom to be one. 

Lead with love

In his last speech he said, “I may not get there with you, but we AS A PEOPLE will get to the promise land”. And we will. At some point, we will inevitably come back to this oneness that we all come from.

The truth is? We don’t know when our last day is. Our last march. Our last speech. So this Martin Luther King Jr. Day I ask you, what will your legacy be? Are you leading a life founded in the principles of Dr. King’s movement, founded in the higher consciousness of humanity? Every moment is an opportunity to love, to show compassion, to bring forth peace and in the words of Dr. King “The time is always right to do what is right”.

Dr. King said, “I’m here to remind you, we’ve come a longggg way, but there is still work to be done”. 

And I’m here to remind you this Martin Luther King Jr. day in 2024 that we HAVE come a longggg way, but there is still work to be done. 

His fight is our fight. His mind is our mind. His spirit is our spirit. Rooted in the consciousness of all humanity. We are all one. And when we embrace the understanding of that, we will truly say

“Free at Last, Free at Last, Thank God Almighty, We are Free at Last”.

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