HOW TO ENCOURAGE ENTREPRENEURSHIP
Our oldest granddaughter is several years away from a driver’s permit. It’s surreal for me to even type those words, but time stops for no one, not even grandmas watching their littles become ladies. It won’t do me a bit of good to try to put it out of my mind when it’s already on Emerson’s, so I’m trying to engage with her about it instead. (Key word there is trying! LOL!) Emerson will be thirteen come this December, but she’s doing more than dreaming about her first car, she’s actively working towards it. Emerson’s parents told her they would match whatever amount she could earn and save towards a car. It’s their way of encouraging an entrepreneurial spirit.
Our family believes in cultivating entrepreneurs. Years ago, my husband and I required our own kids to take on part-time jobs in the summer once they reached Emerson’s age. It wasn’t easy for them to work around their other activities like cheerleader and football practice, but they weren’t polled on the matter. The only part of the equation they were allowed to vote on was where they would work.
Back then I was running my own business called Interiors by Shellie. Our daughter worked with me the first summer she was required to have a job. It only took Jessica one season to decide that hanging curtains and calling on customers wasn’t for her! After that she took summer jobs at a local restaurant, at the town library, and as a delivery girl for a friend who sold office products. Our son, meanwhile, spent his summers on the farm with his dad, where he remains to this day. That would be Emerson’s daddy and that brings me back to the reason for this post.
Emerson spent the earlier part of the summer researching business opportunities to make money. She had decided on her own that cleaning house and babysitting wasn’t going to get her to her goals quickly enough. So, after considering several ventures, she hit on breeding puppies. Her next step was to decide which breed. After more investigation, Emerson ended up going with Australian Shepherds. Her parents extended her “web” hours to she could search for just the right puppy and they picked the first winner up last week! Meet Grace. I’ll keep y’all posted on the progress Emerson makes with her business venture.
Meanwhile, here are some tips for encouraging the entrepreneurial spirit in your kids and grands.
– Start small. Give them household chores they can complete for extra money. We had some non-negotiables there, too. They didn’t earn money for doing what we expected, like keeping their rooms cleaned and making their beds in the morning. They earned money by doing extra household work, inside or outdoors.
– Encourage them to save and tithe before they spent. It’s not good to allow them to spend every dime they earn—unless you want that to become a life-long habit!
– Let them go through the process of saving for that special toy. It teaches them delayed gratification and that trait will benefit them in more ways than one!
– Introduce them to the idea of entrepreneurship by making it a simple topic of discussion around your house. Shark Tank is a great show for teaching kids about the business world of supply and demand.
– Make a point of seeing to it that they don’t save without ever spending or they won’t make the connection. Everyone likes to see the fruit of their labors in real time!
– This last tip is credited to financial expert Dave Ramsey. Pay them in small bills so they can see the money accumulate. We didn’t always do that, but I see the wisdom in it. Ten ones is more impressive in a child’s eyes than a ten dollar bill!
There are plenty of ways to encourage a work ethic. These are just a few of our family’s tried and true tactics that come to mind. I’d love to hear yours!
