The days of kids making money by selling lemonade or old toys outside the house seem to be long gone.
Fortunately, there are things that you can do to help inspire your little one to be more entrepreneurial.
Let them work their own way out of a problem
If your child comes across a problem give them a chance to work it out for themselves before stepping in and offering advice. This will teach them to think outside the box and find their own answers - key traits of an entrepreneur.
Encourage them to save
If your youngster wants to go horse-riding or to the zoo, let them save up for it on their own; this way they won’t take things for granted. They will begin to realise that if they really want something they will have to work at it. It may also plant a seed of creativity as they try to figure out ways to make money.
Help them to be self-reliant
Don’t overprotect your child but rather give them room to grow and make mistakes. They will only learn from their mistakes if they are allowed to make them in the first place. No matter how much you may want to, don’t shield your child from every problem. This will only stifle their creativity and therefore their ability to create their own ideas.
Let them fail
Failing is not a bad thing if it helps your child to learn from their mistakes. It also shows that just because you may fail at it once dooesnt mean you should give up – it just means you should keep trying until they can do it. If they fail at something in school show them that by working a little bit harder they will be able to succeed.
Boost their self-esteem
Help your child to develop their idea by getting involved in what they are doing. If they have come up with a new game, go with it even if it doesn’t make any sense. By playing how they invented the game you are boosting their motivation and self esteem to keep at it.
Showing them that you believe in their ideas will instil confidence in them to grow more ideas.