It doesn't get more inspiring than watching other kids who have turned their interests into thriving businesses. Head online and show your kids these young entrepreneurs in action.
Each of the successful young entrepreneurs mentioned above took an idea or interest and used it as a springboard to create their company. Help your own kids brainstorm for ways they might want to take a hobby and turn it into a business.
If your child shows an interest in becoming an entrepreneur, provide the encouragement and advice to get them started. Kids can do a lot on their own, but the most successful youth entrepreneurs usually have a parent giving them emotional (and yes, financial) support.
In your excitement to help your kids create a business, it's easy to try to protect them from failure. This is a mistake. As most entrepreneurs will tell you, it's those failures that taught them more than any business course ever could. If one idea doesn't pan out, be there to help your kids understand what went wrong and to move on to their next big idea.
Sharon Lechter of Pay Your Family First tells parents to help young entrepreneurs make a hobby a business. "Go into their world and find something that they like, then look at it from a business perspective... If they like to ride bikes, explain to them how they can turn that into a business — creating handlebar stickers to sell to other bike riders or offering to wear shirts from a local business when you ride in exchange for a small fee."
Please note: Articles and other information included on this website are intended for the general interest of our readers, and are not intended to provide, and do not constitute, legal, financial, health or other advice. Gerber Life makes no claims, representations or warranties as to the accuracy, completeness or appropriateness of this general interest information for your particular circumstances. If you need legal, financial, health or other services, you should contact a duly licensed professional.
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