Every child has unlimited potential. There is a bright future ahead when provided with proper guidance.
Discovering your kids’ talents and abilities at an early age is a blessing for every parent. As parents, we support them in everything that they want to pursue and achieve in life. But our guidance is plays a very crucial role in their successes. One of the best ways to teach them important lessons towards attaining great progress is through demonstrating the ‘Business Mindset’ and making it as fun and exciting as it can be for their tender minds.
One might wonder, why teach ‘business’ to a six or seven-year-old child? There is an abundance of practical life lessons that a child can gain from it, aside from the huge possibility of developing entrepreneurial skills at a young age. It might sound impractical, but with the right encouragement and fun element, your kid will definitely benefit from it.
Learning the value of hard-earned money.
As a child learns how to count, it is also crucial for him to recognise the worth of things around him. This way, he will appreciate not only the value of money but basically everything. The child will then comprehend what it’s all worth through his involvement in the process of purchasing, creating, selling, and acquiring profit.
Enjoying the process of saving and investing wisely.
It is essential to understand the importance of saving money and spending it wisely. These financial teachings will certainly make an impact on your child’s future decisions as he grows up. To give an example, you can ask your child to save money to buy things that he fancies, instead of buying it for him. Another way of teaching financial responsibility can be, asking your child to split the money into three parts every time he receives it. One for his savings, second for his spending, and third for something that he has been waiting to buy for a very long time. This will teach him the significance of working capital, as well as incite entrepreneurial skills in him.
Discovering the art of patience.
Patience is a virtue. Teaching patience to your child can help them overcome any challenging situation in a more flexible and better way. If your child decides to start their own business in the future, patience is one quality that will take them towards a more stable future.
Capturing an overview of economics and develop interpersonal skills (even before grade school).
Besides, teaching your child how to read and write, you can also begin to teach your kid the basics of Business and Economics. Allow him to count his allowance, buy from the store, and count the change. You can also expose him to your business where he can interact with customers and even make an actual transaction. A hands-on experience is more fun for kids, this way, they do not need to sit and learn the concepts of supply-demand, interest rates, SME working capital loan, or entrepreneurial management – a good demonstration and involvement is a good initiative.
Unveiling potentially (out-of-this-world) creative and logical ideas.
Allowing your child to get involved in your business can bring out the craziest yet most wonderful ideas that you, as an adult, can probably never think of. You can ask them for bright and creative concepts without getting disappointed. So, let them grow up with these ideas – This will take them towards a bright future.
Every child has unlimited potential. The business mindset is not only for the grownups.