Young Entrepreneurs
Not long ago I was asked how children can be taught to think like entrepreneurs, and if there was a way for the school to have curriculum for it. Let’s go over a few opportunities children may want to participate more in this school year, and ways you can support them without doing all of the work for them.
School Fundraisers
Children are already given opportunities to learn how to think like entrepreneurs through fundraisers during the school year, the way each child’s family handles the fundraisers is what has changed throughout the generations on what the children learn.
School fundraisers benefit everyone involved, and not just for the sake of raising money for the school or program, they’re miniature business ventures that give children the opportunity to learn how to build a business with the help of their mentors. Basically, they’re incubators for future business owners.
Here’s how you can support the young entrepreneur:
Encourage them to sell you the product or service by asking relevant questions to how it will benefit you.
“I’m not a fan of chocolate, do you think my kids/grandkids/neighbors kids would like them? Maybe they’d make a great gift?”
“Do you have any items that a child (your age, just like you, etc) would like from this catalogue, my (niece/nephew/grandchild) hasn’t yet let me know what they’d like for (Christmas/birthday/etc) this year.”
“I’d like something for myself, I happen to love (hot beverages) do you have anything that would help (keep them warm)?”
By prompting them with questions you know they could find an answer to by looking in the catalogue (with them if they’re struggling) gives them a chance to learn how to talk to their next potential customer, as well as helps them learn how to increase their conversational skills with anyone in their future.
Ask questions about their involvement in the school or program.
“How long have you been in (band, drama, etc)?”
“What’s the top prize if you raise the most money, this year?”
“What’s your favorite part of (school, program)?”
Prompting the child to showcase their involvement and passion for the program decreases their anxiety of doing something new, and gives them the opportunity to remember why this is an important fundraiser.
Buy something.
Selling is a lot of hard work when you’re first starting out, buy something to show your support to the child for doing the hard work! When you see this child next year, and you probably will, ask them questions about how their last fundraiser went, what they learned, what new products are available, and make them work for the sale.
If you’re the parent of a fundraising child,
I strongly encourage you to offer these questions to your young entrepreneur and work through some answers they may be given and how to work through objections. Being told no is hard if they’re not given positive mindset skills to know that they did nothing wrong, so give them tricks to remind themselves that not everything is for everyone and the important part is their passion and effort.
I also recommend teaching them WHY they’re raising money.
Schools aren’t for-profit, they need to pay teachers, staff, buy supplies, pay for electricity, etc so budgeting in the money raised from fundraisers really helps the school provide a better environment for your child. This is a great opportunity to teach financial budgeting with your child if you have not yet done so with their birthday monies.
Encourage them to do extra curricular business ventures.
Lemonade stands, car washing, paper routes, lawn mowing, babysitting, dog walking, bracelet making, pace painting, nail painting.
If they’re passionate about something, allow them to pursue it as a business.
Giving them feet to stand on for their piggy bank, college savings, retirement is the best skill you can give your child.
Encourage them to seek a mentor outside of the home, whether that’s writing to Warren Buffet or your local media personality, to show them the many faces of entrepreneurship and possibilities.
