How to Raise an Entrepreneur

There is no doubt that owning a business is the way to prosperity these days. Working 9-to-5 no longer offers the security it did in the days of old. But you can teach your children to be flexible and adaptive in an ever-changing world. Financial security is a matter of entrepreneurship and money management. Follow these steps to raise an entrepreneur by teaching your kids business skills.

Difficulty: Moderate

Instructions

1. Start early. You can't begin to teach your children about money too soon. Early exposure to entrepreneurship and money management will influence your child's perspective. Business skills will become second nature, making it easier to run a successful enterprise later in life.

2. Practice. Help your children identify money-making opportunities. Have them do extra chores to make more allowance. Survey their interests and pinpoint ways to turn those interests into businesses. If your kids like to bake cookies, they can sell snacks to neighborhood kids.

3. Make it fun. There are plenty of financial education games on the market. Play the games with your children to teach them business skills and spend quality time with them.

4. Encourage. Play a supportive role. Don't blow off your child's entrepreneurial spirit. If your child comes up with ideas, evaluate them fairly and honestly. Teach them how to improve those ideas to make them more profitable.

5. Start a small business. Help your children run mini businesses. They will develop business skills that will benefit them well into adulthood.

Resources

• Find ideas and resources to get kids started in business
• Get family-oriented games to teach entrepreneurship