How can I help develop my child's entrepreneurship?
2 experts and 1 parent have answered
Firstly, thanks for asking the question and showing an interest in developing your child's entrepreneurial potential. I don't know how old your child is, but I believe that supporting the development of entrepreneurial characteristics in children from a young age - as young as four - is really important, and there's no better place to do this than at home.
The simplest way to start supporting the development of an enterprising mindset in children is to use the everyday and get your child involved in conversations, experimenting, and innovating.Probably your child’s first introduction to entrepreneurship is going to involve role play with their toys. That could mean setting up pretend shop, playing at roles such as a taxi driver, swapping toys with a friend or with siblings, and of course using toy money.
Letting your child’s imagination have free play is really important, as is ensuring that they get to try out different roles to help them experience the different sides for example of buying and selling. Talk with your child about your own work, and help instil in them a strong work ethic.
Developing entrepreneurial potential in children is about building on their early aspirations and getting everyone in the family involved with their future possibilities. Communicate through questioning and conversation, follow their lead when it comes to exploration, encourage them to tap in to their innate curiosity and imaginative ideas, recognise and celebrate your child's individual strengths and talents, and most importantly, model enterprising behaviour -show how you deal with uncertainty and how you make things happen, be resourceful, and be prepared to take some risks.
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"Entrepreneurship" refers to generative learning designed and determined to conceptualise around specific 'doable' goals. Children need to be encouraged to adapt ideas (to recognise how to frame and reframe) around perceived needs. Children must create, build models, use artistry (talent) on the road of entrepreneurship by using trial and error to gain insight. Parents should encourage (but not by 'doing it for them') their children to organise a project and to plan a system by learning for themselves how to actively outline the changes needing to be made and the elements that will be needed. There are, of course, many variables to consider or to observe and many restraining forces to take into account. 'Brainstorming sessions' and 'dialogue times' are a key and learning to team-up with others (under adult supervision) allows 'confrontive questions' and 'feedback' to be less threatening or discouraging. drMSBsr
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We have always taught our children entrepreneurship by not turning it into a black art which requires some business school thinking alchemy. So, for instance, one of our children is a budding chef and makes a Rosemary Focaccia that is sublime.
His first entrepreneur exercise was to sit down with us and work out the ingredients used, how much was used and how much it all cost. Then, if he sold it to our friends for their dinner parties, how many he would need to sell and at what price to 'turn a profit'.
A fun game but which de-mystified the entrepreneurial process!