10 Ways to Bring Out the Entrepreneurial Spirit in Your Child

1. Take the time to engage your children in a serious conversation. You’ll be amazed at how easy it is to link their world to yours while building a relationship of open communication, shared knowledge, and strong values.

2. Don’t read them. Let your children contribute as much information as possible. Let them talk. Listens. Be your business partner, not your boss. Let them develop their own business ideas, then act as a consultant to help them; understand the important real-life aspects of running a successful business.

3. Explain what income, expenses, and profit are, and then what to do with the profit.

4. Start with a business that fits the child’s budget. Build the business around something the child enjoys doing; be it flying kites or working on computers.

5. Life can be unpredictable. Tell them to plan for the unexpected.

6. Let your children make mistakes. They need to discover that this is sometimes the way one learns.

7. Give pocket money to your children. This is how they begin to learn the value of money. Help them save some money to save, give and invest, but also to have fun.

8. Encourage a policy of giving to others or organizations in need of funds. Our country needs people who care about others.

9. Talk about household costs, purchases, and the reasons for your choice of products.

10. Help your children set achievable individual goals.

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