How to Develop Entrepreneurship and Teach it to Your Kids

By Lolita Allgyer of  Praxis

We all want our children to succeed.

So we focus on reading at a young age, completing all the right Math courses, engaging in extracurricular activities, and the list goes on.

But in the end, it’s not just the activities that set the kids up for success.

The top skill you can instill in your children is entrepreneurship.

How to Develop Entrepreneurship and Teach it to Your Kids

This post may contain affiliate links, you can find my disclosure policy here.

Developing the Mindset of an Entrepreneur

The thought of entrepreneurship sounds intimidating. Maybe you’ve never built a business of your own. How can you set up your children to be successful business owners? What if they aren’t cut out to run a company? What if all their ventures fail?

Relax. You don’t have to be Penelope Trunk to pass entrepreneurial skills on to your kids.

It’s not all about owning a business. It’s not about making money. It’s not even about influencing the free market with your ideas.

I’m talking about entrepreneurship in the deeper sense of the word.

Entrepreneurship is a mindset. Building businesses and putting big ideas into action are physical manifestations of the mindset of an entrepreneur, but the principle goes much deeper.

So when I say entrepreneurship is one of the best ways to help your kids succeed, I’m referring to entrepreneurship as a way of thinking.

Here are the top mindsets any entrepreneur needs to develop:

  • Entrepreneurs aren’t afraid to break the mold.

“But this is how we’ve done it for years” is not a statement you’ll hear out of entrepreneurs. The top businesses thrive because their founders don’t care about what convention dictates.

Entrepreneurs recognize that “what society dictates” is a distraction. So they focus on the goals ahead of them and don’t let others’ opinions get in the way of those goals.

  • Entrepreneurs see the big picture.

The best businesses have been built by people that took a step back from an issue and solved it from the inside out.

Facing the challenges of a business and facing the challenges of life are very similar. Many people tend to fixate on one viewpoint.  But entrepreneurs don’t get stuck looking at their problems from a single angle. They thrive on seeing things from bigger perspectives!

  • Entrepreneurs don’t settle; they create solutions to problems.

While others put a band-aid on an existing problem, entrepreneurs find a new way to fix it.

You can have these characteristics whether you have built a business or not. In fact, entrepreneurial employees are some of the most valuable assets to a company. And entrepreneurial parents- well, they’re a force to be reckoned with!

So what if you don’t have a small business of your own. So what if your kids haven’t started a lemonade stand yet. You still have the ability to cultivate the entrepreneurial spirit within them. You’re much more qualified than you think!

Developing entrepreneurship in your homeschool teen.

Because homeschoolers are the entrepreneurs of education.

Stop thinking you’re unqualified. You are an entrepreneur simply by choosing to educate your children at home! Here’s why:

  • Homeschoolers break the mold every day.

Regardless of criticism, anti-homeschool laws, or rejection, homeschool moms get up every morning and teach their children because they believe in home education. It’s extremely brave when you think about it!

  • Homeschoolers have always seen the big picture.

They sacrifice the perfect career for the ability to spend time with their children during the most crucial years of their lives. They let nothing stop them from being the main motivational force in their kids’ development. In the big picture of a child’s life, this is indispensable.

  • Homeschoolers solve their problems innovatively.

Many homeschool moms don’t have the perfect teaching credentials. They haven’t been “approved” by the system of education today. Yet homeschool kids continue to shine in every area of the academic and professional world. This is a testament to the entrepreneurs who are their parents.

Feeling empowered yet? Here are a couple actionable ways to cultivate entrepreneurship in your children:

  • Help them build projects around their big ideas.

Take the big ideas seriously even when your kids are young. The more they act on their plans today, the more vision they will have in the future. Even if projects fail, teach them to get back up and learn from the failure.

Does your child want to be an architect? Use legos to build the perfect structure. Or go crazy and buy wood so they can build a bridge over the creek! Take each idea and find a way to cultivate it in the real world.

Teach your kids to think in terms of action rather than abstract ideas. They’ll be able to build actionable plans much faster in the future!

  • Engage in critical thinking exercises together.

Take the time to grapple with big ideas. Make thinking outside the box a norm.

Talk about failure and how to use it to grow. Read about people who have done cool stuff. Listen to TED talks and discuss them. Or complete the Praxis Teen Entrepreneurship Course together.

In short, never skip an opportunity to think big!

  • Maximize on soft skills while they’re young.

In today’s world, it’s not only the hard skills that set you apart. It’s the intangible skills like dealing well with stress, getting work done on time, writing well, or speaking concisely.

These are things that can be built in your children from little on up. Make sure you focus as much on soft skills as you do on Math and History!

Cultivate entrepreneurship in yourself. Pass the mindset along to your kids. Above all, remember you are changing the world one life at a time.

At Praxis, we love homeschoolers. We are giving away one FULL TUITION ($12,000 value) scholarship to a homeschool student. Find out more at discoverpraxis.com/homeschool.

Join me in my Homeschool Mindset Facebook Group.

 

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Lolita Allgyer

About Lolita Allgyer

Lolita Allgyer is a Marketing Associate at Praxis, an apprenticeship program for young people who want more than college. She is passionate about self-education, and about empowering other young people to carve their own paths in life. Her life philosophy is to live each moment to the fullest. If you can’t find her, she’s most likely outside on some new adventure. She writes often at lolitaallgyer.com, Quora, Medium, and the Praxis blog.

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