Advertising
Advertising

10 Effective Ways To Teach Your Kids About Entrepreneurship

10 Effective Ways To Teach Your Kids About Entrepreneurship

Who doesn’t want their children to be independent and successful?

The truth is that the traditional model of getting a university degree followed by a stable job and a steady progression up the career ladder doesn’t always happen these days. Population increase, economic crises, globalization, decreased earning power, dynamic employment markets mean today’s generation really has a daunting task in the job market and the future doesn’t seem too rosy as well.

Students are graduating from top universities and struggling for months (or even years) to find a decent job. Unpaid internships are common worldwide and often yield nothing even after the six-month sacrifice. How can we help young people cope in this harsh environment? The answer is to teach kids about entrepreneurship early on so that they can create their own opportunities when the time comes.

Entrepreneurship turns children into leaders. It transforms them into employers rather than employees and helps them create successful, independent lives through purposeful enterprise. It gives children viable options to earn a decent living in a crowded, harsh world.

There are crucial attributes every entrepreneur needs to succeed, and it is your responsibility as a parent to help your kids develop them. Here’re some of those attributes—and how you can foster them in your kids.

1. Inculcate financial literacy from the get-go.

Financial literacy is something that all children need to have today. Unfortunately, schools often don’t give enough attention to this area in your child’s education. Don’t leave this area to chance. Teach your kids about money from an early age to give them a solid grounding in finance.

Educate your children about saving and investing and show them how money can be used to make more money. If you see them throwing away coins, tell them to pick them up. Kids need to understand that every coin counts. When discussing with your partner or with yourself about how to spend your money, how much to save for a particular thing, say vacation, and things like that, let your kids in on it.

Advertising

For example, ask your kids for advice on what you should save for. Giving them this level of trust and responsibility helps them develop good money sense and nurtures their entrepreneurial mind.

2. Inform a keen sense of observation and self-drive.

Help your kids recognize that the world around them is full of business opportunities, and finding them just requires some careful observation, self-drive and creativity. They really don’t have to be employed. So the next time your children ask for money to buy a favorite gadget, ask them to look around and brainstorm ways to create the money through entrepreneurship.

Cameron Herold, in his inspiring TedTalk about how he was raised as an entrepreneur as a child, and does the same for his children, reveals he tells his kids to find things that need to be done around the house and tell him. After which, they negotiate how much doing that chore should cost.

You can also encourage entrepreneurship by asking your kids to start small projects like a lemonade stand or sell their old toys online through sites like Craigslist. That will teach them how to fix prices, market well, spot scammers etc., which will bring your kids in the fray of the real world.

3. Encourage an attitude of exploration and inquisitiveness.

In addition to urging your kids to explore their environment, urge them to develop an inquisitive mind and constantly ask questions. Don’t let them get too comfortable with the same solutions for problems. They should study a lot of things and be open to new ideas and new ways of doing things. Pierre Omidyar, founder of eBay Inc., agrees that exploration and inquiry are crucial lessons. “Our kids seem to thrive in situations that engage their curiosity and allow them to explore and discover the world around them on their own terms,” Mr. Omidyar says.

In his own childhood, Omidyar was immersed in both Persian and French culture thanks to his parents’ backgrounds. “Being exposed to and learning about these cultures taught me early on that there are different ways to think about any single situation, and that you don’t always have to do things the way they’ve always been done,” he says.

Let your kids walk around their community and engage with people from all walks of life within obvious considerations and safety precautions. You never know what opportunities they might find out there.

Advertising

4. Teach goal setting and planning.

Goal setting and planning are an integral part to entrepreneurial success. These are positive habits that will come in handy when ingrained in your child’s psychic. The sooner your child learns how to plan, set realistic goals and follow laid down procedures to completion, the better.

Teach kids to set S.M.A.R.T (Specific, Measurable, Achievable, Realistic and Timely) goals and accomplish those goals. Ask them to define and write down their top five goals or objectives. Studies show that written goals are over 80% more likely to be achieved.

Next ask them to consider carefully and write down five actions necessary to accomplish these goals. Encourage and support them throughout to reach their defined goals. This will enhance your child’s self-worth, self-drive and overall feeling of personal accomplishment.

5. Urge team work.

No one is completely self-sufficient. We all need help sometimes to reach our goals. The most successful entrepreneurs outsource heavy workloads and team up with others whose opinions they value to stay on track and succeed. Your child also needs to learn how to play well with others in order to reach common goals.

One of the best ways to promote team work from an early age is to urge your kids to participate in sports. Sports can be a great classroom for entrepreneurial principles and values. Arthur Blank, co-founder of Home Depot Inc. and owner of the National Football League’s Atlanta Falcons, agrees and says, “Sports teach how important teamwork is.”

Arthur’s six children, who have all played a variety of sports, have had to learn how to deal with setbacks and how to move past losses. One of his sons, Joshua, is captain of his eighth-grade soccer team—a role Blank says will help the boy learn about leadership and inspiring others, as well as playing his own position. “Not winning every game and teamwork—these are all good lessons for entrepreneurship,” he explains.

6. Reward personal initiative and high quality work.

Insist that your kids take personal initiative and deliver high quality work each time, whether it is on homework, house chores or extracurricular activities. Giving their best in everything they do means kids are responsible and dependable and it contributes to their overall success.

Advertising

Even exemplary solitary pursuits or passions like hiking for older kids can help them become self-driven and dependable without needing supervision. Jim Koch, founder of Boston Beer Co., says he found climbing mountains a good building block in becoming an entrepreneur.

“Climbers are a lot like entrepreneurs,” he says. “They are willing to put themselves in a risky situation then once there they become careful and cautious and try to reduce and eliminate the risk.” Reward your kids with monetary incentives or small treats for taking initiative to encourage good work.

7. Impress on kids to learn when failing.

In school, children learn that failure is bad. But, in the entrepreneurial arena, failure can be good if a positive lesson is learned. It was Napoleon Hill, author of Think And Grow Rich who said that, “Every failure carries with it a seed of equal or greater benefit.”

Instead of scolding or punishing your kids for failing at something, try discussing with them the factors that lead to the failure and brainstorm ways to prevent it from happening again in the future. Tell them failure is not entirely bad because it provides an opportunity to learn from mistakes and create new ways to accomplish goals.

Insist that they NEVER just give up, but to always find a lesson in every adverse situation. This way they will not dread failure or wallowing in self-pity and defeat when things don’t work out. People who have achieved have also failed at something. Patience and persistence is key for success.

8. Bolster effective communication skills.

This is a very important skill that every young person needs to learn. Communicating effectively allows kids to articulate their ideas and speak their mind in a way that what they say is clearly understood. This gives them a winning edge in their personal and professional lives.

Instruct your kids to be polite and respectful always. Tell them to speak boldly and support their points convincingly. Most importantly, show them how to maintain eye contact when speaking in person. And when speaking on the telephone, teach them to speak slowly, clearly and confidently.

Advertising

When it comes to written communication, encourage your kids to write grammatically correct sentences that flow logically, and to avoid abbreviated words and phrases that might cause misunderstandings. These will be extremely useful in the future as adults and business owners.

9. Support giving back to society.

The most successful and happy people on earth give back to society. Why start a business if it doesn’t support a greater cause? Teach your kids the value of helping others. Life is not always about you, your needs and your comfort. Life is also about leaving the world a better place than you found it.

Remind your kids constantly that successful businesses provide benefits to more than just their owners. Tell them people who contribute to the success of others contribute to their own success and live a happy, more fulfilled life.

Ask them to choose a charity or special cause to support with a portion of the income they generate. And support them wholeheartedly when they find volunteer activities to participate in society. This way your kids will lead a contented life—full of meaning and service to humanity.

10. Lead by example.

In the end, many entrepreneurs say the most important thing that inspired and motivated them to achieve entrepreneurial success is the influence they had from their parents. They learned most of what they know from their parents who led by example. For Mr. Blank, for example, his parents were his biggest influence on his becoming an entrepreneur.

“I saw living examples of entrepreneurs,” he says. “My dad was 39 years old when he started a pharmacy wholesale business. He passed away at 44 when I was 15. My mother, who was 37 at the time, had no business experience but was a risk taker in her own way. She grew the business and later sold it to a larger pharmaceutical firm.”

Lead by example and always practice what you preach. Your kids are looking up to you. When you tell your kids to work hard and learn from their mistakes, show them that you also work hard and learn from your mistakes. When you tell them to be patient and respectful, be patient and respectful yourself. You are your children’s biggest role model and will likely remain so their whole lives.

Featured photo credit: Brad Flickinger via flickr.com

More by this author

David K. William

David is a publisher and entrepreneur who tries to help professionals grow their business and careers, and gives advice for entrepreneurs.

10 Reasons Why Some People Feel Like They Don’t Have Enough Time 25 Memory Exercises That Actually Help You Remember More 10 Mini Hacks to Overcome Procrastination 12 Simple Ways to Boost Your Confidence Right Now 10 Amazing Health Benefits Of Beer You Probably Never Knew

Trending in Communication

1 How to Improve Intimacy in Your Marriage and Rekindle the Passion 2 Why You Feel Lonely In Your Marriage And How To Deal With It 3 6 Signs Of A Controlling Person To Be Aware Of 4 How To Spark A Positive Mood When Feeling Dull 5 5 Reasons You Will Never Be a Fighter

Read Next

Advertising
Advertising
Advertising

Published on April 7, 2021

6 Signs Of A Controlling Person To Be Aware Of

6 Signs Of A Controlling Person To Be Aware Of

Some of the most manipulative people are so good at what they do that their words and actions can convince you into thinking they truly care about what’s best for you when in reality, it’s quite the opposite. The most common signs of a controlling person are rarely obvious to outside observers. And for someone enmeshed in a controlling relationship or friendship, it can be incredibly challenging to stay away from this toxic person, even if you’re aware of their emotionally abusive tendencies.

While it’s ultimately up to you to decide whether to preserve or leave a lopsided, unfulfilling relationship, it’s nevertheless critical to understand the following six signs of controlling people so you can better advocate for yourself and mitigate the influence of their manipulative tendencies in your own life.

1. They Push Their Own Personal Agenda

Do you know someone who always tries to micromanage the words, behaviors, and attitudes of people around them? Does this person act like they have the right to know anything they want about you, including your location, what you’re doing in a given moment, who you’re talking to online, or any other private information about you? And when planning events and special occasions, does this person dominate conversations, steer plans in their own preferred directions, disparage others’ suggestions, and refuse to collaborate with anyone who might disagree with them?

If you answered “yes” to some of the above questions, then those are clear signs of a controlling person whom you absolutely need to be cautious around. Controlling people are reluctant to even consider alternative ideas, let alone enthusiastically work with people who have differing views. They prefer to be the captain of every ship—regardless of how much or how little an issue personally impacts them—and they have an arsenal of manipulative tactics to deploy if someone stands in the way of them achieving their own personal agendas.

In long-term relationships with controlling people, you may feel constantly pressured to meet their demands, follow their schedule, and focus on whatever they feel is most important. It’s not an exaggeration to say that these people act like the universe revolves around them, which can be exhausting to deal with for their family members, friends, and colleagues.

Advertising

2. They Make Everything Transactional

Controlling people aren’t always self-centered, but they’re not too empathetic either. Empathy for them tends to appear in the form of strategic concessions they use as a means to get what they want. They typically view interpersonal relationships as transactional opportunities to extract more value from people surrounding them, which can have a draining effect on those they interact with.

For example, one sign of a controlling person may be their insistence on “keeping score.” This can involve doing nice things for you with the ulterior motive of demanding something from you at a later date in exchange for what you thought was just an act of kindness or a friendly support.

Perhaps they shower you in praise (also known as “love-bombing”) or gifts then blow up at you if you don’t intuitively know they’re expecting something back from you. None of us are mind-readers, but controlling people behave as though everyone else should think and act like they want others to and those who fall out of line are punished for failing to meet their impossible expectations.

A controlling person may also threaten to withhold support if you don’t adhere to their demands, but they do so in such subtle ways that the guilt they impose blinds you from the unreasonable nature of their behaviors.

Some statements to be wary of include:

Advertising

  • “I did ___________ for you. What do you mean you can’t do ___________ for me?”
  • “Remember how I helped you with ___________? That took a lot of time and energy from me, but I guess you didn’t appreciate my help.”
  • “I always give you ___________. Don’t you care about my needs too?”
  • “You’re so selfish!” or “You don’t care about me at all!” (gaslighting if you respond with hesitation or politely decline their request for help for perfectly valid reasons, such as not having enough time or resources to assist them)

3. They Criticize Everything

One of the most common telltale signs of a controlling person is their capacity to criticize anything and everything, even small things that seemingly don’t matter. As with many toxic traits in relationships, these problems typically start out so small that you may not even notice. At first, you may even agree with their criticism or at least be able to understand their perspective when they bring up an issue.

However, the criticism tends to get more intense, more constant, and more perplexing for people who maintain relationships with controlling people. You’ll likely notice how they rarely seem to criticize something they do. It’s almost always other-oriented and these types of people are so manipulative that any rationale they offer can seem plausibly legitimate.

Some warning signs of a controlling person who’s overly critical to the point of abusiveness include:

  • Criticizing things about you that you have little to no control over (e.g., appearance, disability, family)
  • Criticizing your personal choices and interests, such as educational pursuits, career, clothing, favorite music, time spent on your hobbies, etc.
  • Punishing you for expressing vulnerability by invalidating thoughts and feelings you share with them
  • Attacking you whenever you express an opinion counter to theirs

4. They Balk When Someone Criticizes Them

We all know the adage, “what goes around, comes around.” But this statement doesn’t apply as much to toxic, controlling people. They’d much prefer to dish out criticism without ever having to take it in return.

For instance, if your friend constantly talks about your appearance with little regard for your emotions but flips out if you make just a single comment about their appearance, there’s a possibility that they could have some hidden controlling tendencies left unchecked. Remember, these people aren’t just controlling in their behaviors towards others. They’re also actively trying to stay in complete control over every aspect of their lives, which includes how others view them.

Advertising

This seemingly insatiable desire for control can prompt them to lash out against even the smallest bits of criticism, leaving people around them too weary or scared to speak up again in the future. While it’s possible they may suffer from something called rejection sensitivity dysphoria, this does not excuse them from the consequences of their words and actions. They should seek professional help to better manage their reactions to criticism.

5. They Socially Isolate You

Not all controlling people do this, but for manipulative narcissists, socially isolating victims is a go-to strategy for maintaining control because it’s effective at preventing people from truly understanding how toxic their partner, family member, or friend is treating them. Think of it this way—if you don’t talk to many other people in your life, there’s less of a risk that you’ll damage their reputation by revealing their abusive tendencies.

Socially isolating others also gives the person more control over you and your life as it becomes more difficult to break away from them if you don’t have other healthier channels of communication and interpersonal support to turn to.

This process doesn’t happen overnight, nor is it something you can readily recognize as abusive. At first, it may seem reasonable, such as asking you to stop engaging so often with family members with whom both of you disagree on major social or political issues. As the social isolation progresses, they may suggest cutting people out of your life—especially if they don’t like that person, regardless of how you personally feel—or even conjure up high-stakes problems like “it’s me or them” under the guise of saving you from people in your life whom they don’t like for whatever reason.

In a controlling person’s life narrative, they’re always the protagonist who’s incapable of any wrongdoing. The blame is always redirected at someone else, whether that’s you or other people in your life. The more they isolate you from other supportive people in your life, the more susceptible you’ll be to falsely believing that they’re right and you “don’t need” your other friends and family when you have someone as perfect as this person.

Advertising

6. They’re Emotionally Abusive

It’s hard enough to be in control of your own emotions but when someone else is constantly belittling you and your interests or leveraging guilt and shame to manipulate you into saying or doing what they want, this can make it even more challenging to stay in control of your own life and emotional well-being.

Emotional abuse is another sign of a controlling person that is often overlooked in relationships. After all, human personalities vary widely in terms of passivity, and it’s not uncommon for one person in a relationship to be significantly more passive than the other. This becomes an issue when the controlling partner or friend exudes signs of emotional abuse, which can start subtly and become much more pronounced over time.

Concerning signs of emotionally abusive language or behavior to watch out for include:

  • Dismissing your needs and/or belittling your interests in counterproductive ways
  • Privately or publicly shaming or humiliating you
  • Making you feel as though you can never live up to their expectations or do anything right (according to their own vague, subjective standards)
  • Gaslighting you into thinking they said or did something that never actually happened (making you question your own reality)

Final Thoughts

It’s sometimes hard to see the negative things about someone with whom we have a relationship. We may sometimes unconsciously overlook the signs of a controlling person, especially if that person is someone we have known for a long time or are close to us. However, cutting them off your life is the best thing you can do for yourself. Just watch out for these six signs of a controlling person and take immediate action when you spot them.

More Tips on How To Deal With a Controlling Person

Featured photo credit: Külli Kittus via unsplash.com

Read Next