Entrepreneurial Skills in Modern Child-Rearing
The Importance of Raising Self-Reliant Kids
As parents, we all want our children to be happy and successful. However, sometimes we unintentionally shield them from hurt and disappointment, which can lead to unintended consequences. In this blog post, we will discuss the importance of raising self-reliant kids, the consequences of shielding kids from hurt and disappointment, and the rise of young adults stuck between adolescence and adulthood.
The Importance of Raising Self-Reliant Kids
Raising self-reliant kids is important because it helps them develop the skills and courage to step outside of their comfort zone and take advantage of what life has to offer. Kids who have initiative, are resilient, and can be problem solvers are better equipped to handle the challenges of adulthood. They have the confidence in their ability to figure things out, and they are not afraid to take risks because they know failure is a part of the learning process. By raising self-reliant kids, we are helping them to lead fulfilling lives and live out their potential.
The Consequences of Shielding Kids from Hurt and Disappointment
While it is natural to want to shield our children from hurt and disappointment, doing so can have unintended consequences. When we shield our kids from failure, we can unintentionally teach them that failure is something to be feared and avoided at all costs. This can lead to a lack of confidence in their ability to figure things out on their own, and it can make them afraid to take risks. Shielding kids from hurt and disappointment can also create a sense of entitlement, as they may come to believe that they deserve success without having to work for it.
The Rise of Young Adults Stuck Between Adolescence and Adulthood
The consequences of shielding kids from hurt and disappointment are evident in the rise of young adults who are stuck between adolescence and adulthood. More young adults are living at home and for longer stretches, even before the pandemic. A Pew Research study found that 52% of young adults are living at home, which is the highest percentage since the Great Depression. This generation of people is afraid to take risks because they fear failure, lacks confidence in their ability to figure things out, and is afraid to launch into adulthood. This is why it is crucial to raise self-reliant kids who can take hold of their future, step outside of their comfort zone, and do amazing things.
In conclusion, raising self-reliant kids is crucial in preparing them for the challenges of adulthood. Shielding kids from hurt and disappointment can unintentionally teach them to fear failure and can create a sense of entitlement. This can lead to a generation of young adults who lack the skills and courage to take risks and launch into adulthood. By raising self-reliant kids who have initiative, are resilient, and can be problem solvers, we are giving them the skills and confidence to live out their potential and lead fulfilling lives.
The Need for Entrepreneurial Mindset in Kids
As parents and caregivers, we all want our children to be self-reliant and confident, to have the courage to step outside their comfort zone, and to take advantage of what life has to offer. But often, we go about it the wrong way. We shield our kids from hurt and disappointment, praise them for everything, and indulge them in an attempt to curate a perfect life for them. However, what we are really doing is raising kids who are afraid to take risks because they fear failure and lack confidence in their ability to figure things out. This leads to young people who are afraid to launch into adulthood, and we’re seeing more young adults living at home for longer stretches.
So how do we raise self-reliant kids who have initiative, toughness, and problem-solving skills? According to the speaker in this video, the answer lies in raising kids who can think and act entrepreneurially. Entrepreneurial kids are those who view the world from an entrepreneurial mindset and have the skills and experiences that cause a person to be entrepreneurial.
To understand the mindset of successful entrepreneurs, the speaker observed two individuals who came into their office seeking assistance. On the surface, both individuals were at the same level in terms of resources, capabilities, skills, and business acumen. However, one individual took the information and ran with it, while the other had trouble getting traction. The difference was in their mindset.
The speaker then shared a story about her son, Silas, who at nine years old, wanted to travel with his dad to visit his grandmother in Colorado. His mother challenged him to earn his own airline ticket. Silas then came up with the idea of finding free stuff on Craigslist and reselling it. He also sold cookies and washed cars that summer, with guidance and encouragement from his parents. Silas raised enough money not only to buy his airline ticket but also to buy his mother a gift.
This story shows the importance of encouraging an entrepreneurial mindset in kids. Being entrepreneurial is not genetic, but a set of behaviors that can be learned with the opportunity to do so. Raising entrepreneurial kids goes beyond teaching them how to start a business to earn money. It’s about preparing them for life by helping them develop confidence, financial literacy, public speaking, perseverance, tenacity, and the ability to bounce back from fear and rejection.
The speaker provides five strategies for parents to raise entrepreneurial kids:
- Don’t give them an allowance. Challenge them to start a business to earn their spending money.
- Make them pay for their wants. This teaches personal responsibility and ownership.
- Reduce their prosperity. Kids today have a lot of stuff, and overindulging them leads to entitlement.
- Let them be delight directed. Encourage them to seek out learning for the things they are most interested in.
- Let them solve their own problems. This helps them become problem solvers.
The need for an entrepreneurial mindset in kids is not about encouraging them to start a business, but rather preparing them for life by teaching them the skills and experiences necessary to be successful in whatever they choose to do. By creating an environment at home where kids have the opportunity to challenge their beliefs about what’s possible, to step outside their comfort zone, and to learn from failure, we can put them on the path to living out their potential and leading fulfilling lives.
Being Entrepreneurial is a Set of Behaviors That Can be Learned
Entrepreneurship is often seen as a natural talent, something that only a few people possess. However, as per the video script, being entrepreneurial is a set of behaviors that can be learned. It’s not something that’s determined by genetics, but rather by the experiences and skills that a person gains throughout their life. As parents, we can play a crucial role in teaching our kids these behaviors and caring their entrepreneurial mindset. Here are some ways we can do that:
The Value of Earning Money and Financial Literacy for Kids
One of the best ways to teach kids about entrepreneurship is by helping them understand the value of money and financial literacy. Rather than giving them an allowance, we can challenge them to start a business to earn their own spending money. This could be something as simple as making bracelets or selling lemonade. By doing so, they will learn the value of a dollar and the importance of hard work. They will also learn about financial literacy, including how to manage money, how to make a budget, and how to save for the future.
Making Kids Pay for Their Wants and Teaching Personal Responsibility
Another way to teach kids about entrepreneurship is by making them pay for their own wants. This teaches personal responsibility and ownership, key aspects of being an entrepreneur. For example, rather than buying your child a new toy or gadget, challenge them to earn the money themselves. This could be by doing chores around the house or selling items they no longer need. By doing so, they will learn the value of hard work and taking responsibility for their own wants and needs.
In conclusion, being entrepreneurial is a set of behaviors that can be learned. As parents, we can play a significant role in caring this mindset in our kids. By teaching them about the value of money, financial literacy, and personal responsibility, we can help them develop the skills and experiences needed to become successful entrepreneurs in the future.
Reducing Kids’ Prosperity and the Importance of Hunger for Motivation
As parents, we often want to provide our children with everything they need and want, and we sometimes go overboard in doing so. We buy them the latest gadgets, toys, and clothes, and we enroll them in every activity they express an interest in. However, this can be counterproductive in raising self-reliant kids who have initiative, are resilient, and can be problem solvers.
In fact, overindulging our children by providing them with too much, too soon, for too long, with no effort on their part, can raise young people who are self-centered and entitled. As Frederick Douglass said in the 1700s, “If you wish to make your son helpless, you need not cripple him with a bullet or a bludgeon, but simply place him beyond the reach of necessity and surround him with luxury and ease.” This is still true today.
Entrepreneurs are known for their hustle, and oftentimes, that hustle is rooted in a hunger for something. But if our kids never want for anything, what’s going to motivate them to take action?
That’s why reducing our kids’ prosperity is important. We should challenge them to earn their own money and pay for their wants. This will help them learn the value of hard work, perseverance, and financial literacy. It will also teach them personal responsibility and ownership.
Making kids work for their own money and pay for their wants can start as early as four years old, as in the case of the Daddy Dollars that the speaker created for her son Silas. Daddy Dollars were earned for doing chores, exhibiting positive behavior, and reading books. Silas saved up $250 Daddy Dollars and used them to purchase his first bike.
Another way to reduce kids’ prosperity is to limit the number of material possessions they have. It’s important to give kids room and space to follow their interests and passions, but overindulging them with stuff can stifle their creativity and imagination. Letting them be delight directed and pursue their interests can help them become lifelong learners and seek out learning to do, not simply to know.
Lastly, allowing kids to solve their own problems is important in developing problem-solving skills. It’s natural for parents to want to step in and help their kids, but doing so all the time can squelch their potential to discover new things about themselves and their capabilities. Instead, we should guide them and encourage them to find the answers for themselves, bouncing back from failure and rejection.
In conclusion, reducing our kids’ prosperity can be beneficial in teaching them the value of hard work, perseverance, financial literacy, personal responsibility, and ownership. Letting them be delight directed and pursue their interests can help them become lifelong learners. Allowing them to solve their own problems can help develop problem-solving skills. By doing so, we can help our kids become self-reliant, resilient, and confident individuals who can take hold of their future and do amazing things.
Conclusion:
Raising self-reliant and entrepreneurial kids is vital for their success in life. Parents need to stop shielding their children from hurt and disappointment, as it hinders their ability to take risks and be resilient. The rise of young adults stuck between adolescence and adulthood is a result of overprotection and lack of preparedness for the real world.
Entrepreneurial mindset is not something innate or genetic; it is a set of behaviors that can be learned and cared. Observing successful entrepreneurs, such as Silas, shows that mindset plays a crucial role in achieving goals. Teaching kids the value of earning money, financial literacy, personal responsibility, and problem-solving skills can set them on the path of lifelong learning and success.
Reducing kids’ prosperity, letting them be delight-directed, and allowing them to solve their own problems are effective strategies for developing an entrepreneurial mindset. Hunger for something motivates people to take action, and parents need to foster this hunger in their kids by challenging them to start their own businesses and pay for their wants.
In conclusion, raising self-reliant, resilient, and entrepreneurial kids is not an easy task, but it is necessary for their success and fulfillment in life. By hugging an entrepreneurial mindset and caring it in our kids, we can equip them with the skills and confidence needed to thrive in our rapidly changing world.
