Supporting and developing an Entrepreneurial mindset in your teenager
With 56% of matriculants in South Africa not being able to get jobs and university graduates not being guaranteed jobs it is important as a parent of a teenager to look at other ways to supporting your son / daughter in becoming independent and successful.
How do I raise an Entrepreneurial teenager?
Entrepreneurship can be taught
1) Model business behavoiur
Just as we try to model kindness and censor our language for our teenagers, it is important to show our teenagers how to behave in business by inviting them into our lives. Talk about the cost, expenses of running your business, have your teenager pay back their ‘debts’ to you. Share your ideas on good business practice.
2) Encourage creativity
Encourage your teenager and support them in being creative in coming up with ways to earn extra pocket money. By supporting a ‘small business’ you can give your teen the opportunity to experience success and to see how rewarding it is to operate a company they have created.
3) Foster curiosity
Every great entrepreneur knows that usually the first step in creating a business is to be curious about something: How is it made? Why does it need to be on the market? Who could it help? How can I make it better? The questions start from kids at an early age, and it’s important to help them explore and feel free to be curious. Eventually, they’ll start making something of their own.
4) Embrace failure
Grown-up entrepreneurs know that failure is part of the game — it’s why the rewards are so sweet. But even small failures can be devastating for a teenager. Help your teen to understand that failure is not a bad thing and explain that often, our greatest lessons as business owners come out the failures. Help your child see that there is always a version 2.0 — which, as we know, is always better than the first one
Raising kids with an entrepreneurial spirit doesn’t necessarily take a lot of time or money — it just takes a different perspective on your everyday life and the willingness to let your kids into what you do and why you love it.
Whatever your parenting approach and attitude to finances, the most valuable contribution you can make as a parent is love and support. Financing and ideas can come from many sources, but your teen’s confidence will be boosted dramatically through your encouragement and advice