How to Spark Biz Genius in Kids | Motherhood Malaysia

Want your kids to become entrepreneurs but don't know where to start? Well, there are steps to take, activities to do and skills to develop and nourish that can help your child become a biz genius in no time. Benefits of Teaching Your Child About Entrepreneurship First and foremost, let's start with why you should start teaching your child about business. According to Entrepreneur, there are a few benefits of teaching kids about entrepreneurship and that includes: 1. A Better Work Ethic There are two ways a child can have a better work ethic according to the site. First, they experience business operations first hand. Whether they're filling papers and stuffing envelopes or cutting grass and pressure washing driveways, you quickly understand the value of hard work if you're thrown into the middle of it. Second, children develop a positive work ethic when they're exposed to yours. A parent is considered to be a child's first teacher. 2. Stronger Appreciation for Money Another benefit of teaching your child about business is that you're able to give them a stronger respect for money. According to a marketing professional, Fiona Kirkpatrick Parsons, she said that the message she received as a kid was that if you want something, you have to get busy and figure out how to do it yourself. 3. Creative Thinking Starting and expanding a business is never easy. Problems will constantly arise and it's up to you to fix them. Instead of hiding challenges or setbacks from your kids, you should expose them directly to what's happening. Who knows? Maybe they have their own ideas worth trying and it'll show them what it's like to put their creative thinking to help a business. 4. Improved People Skills There are various characteristics of children. Some are outgoing but most young children tend to fall toward the shy end of the spectrum when faced with interacting with adults or people they're not really familiar with. The thing about business is that you're somewhat forced to interact with unfamiliar people regularly. With time, your child will develop their people skills and turn them into a better communicator as well. 5. Better Goal Setting Image credit: Canva The value of setting and achieving goals isn't exactly something that children recognise normally. Kids are known for starting something and moving on without finishing it. However, according to a research, regular conversation and interaction between parents and children actually helps to shape a child's academic socialisation. As a result, they're better able to draw connections between their current behaviours and future goals. So, if you spend extra time with your child in an entrepreneurial setting, where goals are clear and courses of action are constantly being developed and pursued in order to reach those goals. Skills to Get Your Child Become a Biz Genius There are skills that you can try nourish if you want your child to become a biz genius. According to the Washington State University, skills that would beneficial to nourish to become a biz genius includes: 1. Financial Literacy Your child must have at least the basic understanding about finance and money. It's an important lesson to teach your child on how to be financially literate. It's difficult to get by in the world today without knowing how to handle money. Children needs to learn that the money they earn, no matter how large or small the amount, has value and can contribute to their success as an entrepreneur. 2. Self Motivation For most people, self motivation is a challenging skill to instill in most. However, success in school or business is contingent on a person's ability to stay motivated, even when things get hard. One of the best ways to teach kids to be self motivated is to have them earn what they want. If your child asks for a new toy or game, work with them to come up with a plan for jobs they can do around the house or for a neighbour to earn the money themselves. Your child would not only learn the value of hard work, but also learn how to stay motivated through their own desires. 3. Teamwork Teamwork is an important skill to have to have your kids become business savvy. Working in a team can be difficult when everyone has different ideas and different styles of work. Playing team-building games with your kids and their friends can help your children develop the cooperation skills necessary for success. 4. Goal Setting Goal setting is a large part of entrepreneurial success. An entrepreneur needs to set goals in order to know how to successfully grow their business. Your kids can get discouraged, however, if the goals they are setting are too far out of reach or too vague. Working with your kids to set smart goals is important. Having goals that meet these criteria is crucial for making sure kids are successful in achieving their goals. Consistent progress with their goals ensures that your kids will be motivated to keep setting them. 5. Communication Communication is a vital skill to have regardless if they want to become and entrepreneur or anything else. An entrepreneur specifically deals with many people from their own team to their customers and clients. Being able to communicate effectively can make sure work gets done efficiently. Teaching your child to learn how to communicate with people will be influential in their success both in school and in the business world. 6. Accepting Failure Failure is hard to tackle by anyone, let alone kids. Not achieving a goal, or having a plan fall through can be very discouraging, especially for a child. However, each failure presents a new lesson for an entrepreneur. It's important to teach your children to look at failure with the same positive spin if they are to be successful entrepreneurs. Be Supportive of Your Child's Business Image credit: Canva If they really are interested in learning more about entrepreneurship and becoming a biz genius, set up something small for them to try. Maybe have them sell drinks or Malaysian ice creams in the evening after school. Be supportive of their decisions too and make sure they get to learn about whatever it is they're interested in. Hopefully, they grow up successful and very much passionate in whatever they choose. Disclaimer: The information provided in this article is for informational purposes only and should not be considered as medical advice from Motherhood. For any health-related concerns, it is advisable to consult with a qualified healthcare professional or medical practitioner. For more insightful stories and fun recipes, stay tuned to Motherhood Story!

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