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10 Essentials To Share With Your Children Concerning Becoming Entrepreneurs

Is there a business owner in existence that does not dream of comparable success as an entrepreneur for their kids, perhaps the possibility of them assuming the family business in time, or at least knowing they have started a business themselves? Extreme Youth Sports (EYS) CEO Duane Spires is a motivation speaker nationally and plays host to camps in the summer and programs after school that are geared to instruct kids five and over about leadership, confidence development, and the road to building success in life through training in sports and entrepreneurial educational pursuits. Your kids can become successful entrepreneurs by following his ten step approach listed below.

1. Success in the future depends on goal setting
 

It can be exciting and enjoyable to teach your kids goal setting. Are you aware that goals that have been written down are 80% more inclined to be successful? Just think what could happen!

The way to instruct: Instruct your kids to explain and jot down the main 10 goals they have and then select their top choice that they feel would present their life with the most positive impact. Their focus should surround that main goal. The next step would be to have them list the steps needed to reach this specific goal and then motivate them to pursue it at once with vigor.

2. Recognizing opportunities is something kids must learn
 

Failing to identify opportunity is something that keeps many children from achieving full potential. Teaching your kids to pursue opportunity and to act upon them, will have a lot to do with their success in the future.

The way to instruct: When your child makes it clear that they are unable to reach a high shelf or are distressed that their lunch sandwich was soggy, offer them praise for pointing this out. Discuss with them opportunities to solve those problems. This process will cause them to direct their attention on finding justifiable solutions, rather than getting stuck solely on the problem. This process will inspire them to come up with profitable solutions in their business future.

3. Every aspect of life involves selling

The ability to sell will always be compatible with a variety of careers and business and will serve them well for a lifetime. Whether they are involved in product service and sales to their customer base, or obtaining money through investors, the ability to sell is essential to any business success.

The way to instruct: Inspire your child to begin with little projects, for example putting toys up for sale, selling lemonade, or selling goods they made with their own hands. Allow them to set their own prices, make the sale, and when the sale is made, conduct the transaction as well.

4. Being literate in finance is essential
 

Many people need assistance in this area. Instructing kids in money matters while they are young can establish a financial foundation not often taught in schools.

The way to instruct: Chores is a great opportunity for your kids to make money on their own, like a little business of their own, which in turn assists you in yours. Show them how to take out their pay first and then how to give back. Show them that they can make more money down the road if they invest the money they have made. Teach them about budgeting and assist them in opening a bank account.

5. Marketing skills can be built through creative inspiration
 

Children can learn how to attract their customer base in their future business by learning about marketing today. It is well known that no business can survive without customers. Learning this skill while they are young can be extremely beneficial.

The way to instruct: Teach your kids to pay attention to the commercials they see on television or hear on the radio, to the advertisements printed in a magazine, the banners hung in front of a business for promotion, or the billboard marketing seen along the road. Find out what caught their eye first in relation to the message and then teach them to observe and understand the various headlines and the decisive call to action points. Then have them take the ideas for their business and establish materials for their own marketing campaign.

6. Schools incorrect towards FAILURE
 

We are taught in school that failure is not a good thing. In the world of an entrepreneur, if a valuable lesson is achieved failure can be a good thing. The writer, who penned Think and Grow Rich, Napoleon Hill, stated that, “Every failure carries with it a seed of equal or greater benefit.”

Permitting your kids to learn from their failures will allow them the opportunity to find better ways of accomplishing the goals they have set. This process will create kids that are confident and have the ability to succeed through the toughest of times.

The way to instruct: The lesson here is easily understood. Should your kids confront failure, refrain from punishment, and take steps to talk about the reasons they failed and discuss ideas that would eliminate from occurring down the road. Consistently pursue the lesson learned in every failure and teach your kids that giving up is NEVER an option.

7. All relationships are improved by efficient communication

The majority of kids in this day and age are bad at communicating on the telephone or face to face due to the onslaught of sending text messages and the social media. Speaking to other people is vital to business success. Both relationships of a personal nature and business can be enhanced if your kids learn effective communication skills.

The way to instruct: Be the role model. Show your kids how to demonstrate respect and be courteous as well. Teach them how important it is to establish eye contact during conversation with another person. Instruct them on how to talk slow and clear when holding a telephone conversation. Practice sending emails with your kids would be a communicative bonus. Teach them that abbreviating their words should not be tolerated and that conveying their message with sentences that are grammatically correct and flow effectively.

8. Happiness can be created by giving back
 

Why create a business if a better cause is not supported? Kids should learn the essential skill of assisting those less fortunate. This approach will teach your kids humility even when success is achieved and provide them with the realization that more than just the owner can benefit from a business. Those who support others success tend to live happier and more contented lives.

The way to instruct: When discussing the business with your kids teach them to select a charitable cause that they can use some of their profits to support. Teach them the approach that successful businesses always provide assistance to better other people’s lives.

9. Confidence is established through independence
 

Wouldn’t it be great if you’re kids were successful and independent? Sure it would! When your kids think like an entrepreneur they learn to rely on their own ability to succeed, which in turn develops functional adults and leaders in the future.

The way to instruct: When your kid desires a special toy and requests the money from you take the golden opportunity to discuss ways they can show their entrepreneur spirit and earn the money on their own. This process shall motivate thinking of a creative nature and get those entrepreneurial juices flowing.

10. Being a leader now offers advantages
 

In school kids learn to abide by regulations and roll with the flow. They are not taught to be independent minded, but instead simply processed for fact memorization. By being an entrepreneur your kids can learn to be out of the box thinkers who establish creative solutions and develop as leaders. This process will make it possible for your kids to learn leadership while they are young leading to enhanced income, the confidence they need and great opportunities in life.

The way to instruct: Provide your kids the opportunity to be leaders in sports activities, music, book clubs and little projects in business. You can also enhance their public speaking skills by allowing them to make toasts and give brief speeches during birthday parties and dinners with the family.

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