For most of us, school is not a place that encourages entrepreneurial excellence and financial acumen. Aside from math and business studies, there is little insight into how leadership skills can help you get ahead and become successful as an adult. Some kids are self-starters and feel ready to start making money as soon as they are old enough. Others need a little more guidance to achieve their full potential. Either way, starting young can be of enormous benefit. Here are a few ways younger children discover their talents and learn the value of being self-motivated.
Financial skills are taught at home
Many business leaders were taught about money at an early stage and were expected to manage their own budget. This is rarely about giving kids boring lectures on financial management. What works more effectively is practical experience. It could be by allowing them to choose how to spend their pocket money and explain to them that once it is spent, they won’t have any more until the following week. Children can be encouraged to save for larger or more expensive items to understand the importance of putting money aside. Older children may be taught more complex financial knowledge by allowing them to create shopping or home project lists that fall within a set budget.
Children who want to make money independently are supported
The best way for children to learn about making money is by doing it themselves. Many of the country’s most successful people started small, slowly gaining the skills that propelled them to do great things as an adult. MBA graduate and owner of Previte Olive Oil, Jeffrey Previte, is a business leader who started his entrepreneurial career as a teenager. The gardening business he launched in the late 1980s eventually grew to become a profitable firm with over 30 employees, giving Previte his first taste of success. Learning how money can be made from a young age fosters an innovative mindset. So whether children are encouraged to earn money at home by completing chores, or they have bake sales or wash neighbors’ cars, they quickly benefit. Earning money gives kids a taste of independence and a responsible attitude towards work.
Working towards a goal is encouraged
Some adults can feel like they are drifting through life without being able to accomplish anything substantial. It’s a frustrating situation to find yourself in, but top executives rarely have that problem because they constantly set themselves new goals. When it comes to younger people, the ability to identify what they want to do or achieve is important. It helps them become more determined and supports a positive, conscientious attitude. They learn that goals can be reached through a series of smaller steps and that potential obstacles can be worked around with the right forward planning. As parents, it’s tempting to solve a child’s problems as soon as they arise. However, when it comes to managing more minor issues within their control, giving kids the opportunity to work it out is empowering.
Leadership skills are cultivated from a young age
We all have the potential to be good leaders, but the skills required often take years to learn. Children who become business leaders have often had a head start, involving a hands-on experience of teamwork, delegation, and communication. Helping at the local scouts or sports group can be a good starting point, as can volunteering with charities and community groups. As well as building their confidence, these roles allow kids to feel good about themselves for helping others and to learn what their strengths are.
The positives are discovered in every setback
Failure can teach more lessons than success, so there’s no reason to tell kids that it’s always a bad thing. Giving kids the chance to experience small failures without stepping in on their behalf allows them to learn from mistakes. They can go back to the drawing board and find a way to identify what went wrong. Then with adult help, they can begin to formulate a better plan. As a result, they’ll acquire the resilience and optimism they need to triumph as an adult.
Even young entrepreneurs aren’t brilliant at everything, but finding their niche early puts them ahead of the curve. Some will excel when it comes to people skills; for others, it might be technological knowhow or culinary prowess that sets them apart. Wherever their strengths happen to be, discovering what they enjoy doing and what they are good at gives youngsters the best possible start. Moreover, preparing for the future in this way is not only helpful when it comes to their professional life. The right start can also give young people a better chance of academic attainment and, eventually, personal fulfillment.
