Looking for a few tips on how to educate a few entrepreneurial lessons for kids? It’s never too young to start teaching them about earning and learning!
I have to tell you – I am so impressed by successful young entrepreneurs. I wish I had started making money from home a long time ago, so when I see kids who are getting a head start, I feel like giving them a high five. I think that as the digital age becomes the norm for younger generations, they are seeing more and more that the possibilities are endless when it comes to monetizing your hobbies and your passions.
But while the ideas are there for many entrepreneurial-minded kids, they may not always have the know-how. So here are 5 lessons I have learned about being an online entrepreneur that I think are critical. If you have a mini-mogul (in training) in your family, I’d love for you guys to read, discuss, and let me know what you think in the comments below.
Entrepreneurial Lessons for Kids
Do Something You Enjoy
My first piece of advice is to make sure you do something that is either meaningful for you or that you really enjoy doing. Preferably both. I can’t tell you how many stories I have seen of entrepreneurs starting a business, but then months (or years) down the road, they lose all interest in it. In fact, they HATE it. Not because the business wasn’t good or successful. Simply because it wasn’t the right business for them.
If you don’t wake up in the morning feeling some sense of purpose or excitement about your business, chances are you won’t be able to sustain that business over the long haul. And, even if you do, it may bring you more stress than enjoyment. Why go into business if you won’t enjoy it?
Choose something that makes you feel happy and it will be easier to push through the challenges because you will have a real, solid reason for doing what you do.
It’s Not All About the Money
On a related note, I think it is important to note that business is not ALL about the money. Yes, making money is important. If one of your top goals isn’t to make money, then what you have is a non-profit, not a business. However, there is one other aspect of running a business that is right up there with making money – helping people.
If you provide products and/or services that people buy (which I think applies to the majority of businesses), then your business is about helping to meet a need that other people have. Focusing on that helps to ensure that you’re not just in it to make a few quick bucks. You are in it to make a difference and to make sure the people who keep you in business get what they need.
In short, knowing that your business is all about what you can GIVE (instead of what you can GET) helps you to have a great customer service mindset. This may seem like common sense, but you might be surprised (and appalled) by the number of businesses that don’t seem to care about their customers. When you show that you do care, it helps you to stand out amongst your competitors. Isn’t that a bit ironic? Caring more about people than about money can actually earn you MORE money.
Have a Plan
I know that flying by the seat of your pants can be exciting. You have an idea and you just roll with it- seeing if anything comes of it. However, I have learned that flying by the seat of your pants is probably the least profitable business method. If you look at any truly successful entrepreneur, they are not winging it. They have a plan or strategy in place. They decide on an end goal, create a list of intermediate goals, and come up with a plan of action to meet each of those goals.
Then once they hit the end goal, they move on to the next one. Everyone’s plan will look different of course, but you have to have a plan. If it helps you feel less overwhelmed, start small. Decide what you need to do this week to move forward on one of your big business goals.
Some goals include: deciding on your niche (what you will offer), determining your audience (who will buy what you have to offer), creating or sourcing your products/services (getting your hands on what you are going to offer), and marketing your products/services (spreading the word about what you offer).
Work Your Plan
Once you have a solid plan in place, you have to take action. I think this is where a lot of people get stuck. It is often easier to dream about an idea than it is to put in the work to make it a reality. But if you want to be a successful entrepreneur you have to be ready and willing to put in work on a consistent basis to achieve your goals.
I would highly recommend developing a routine that helps you stay on track. Whether it is in the form of a daily/weekly/monthly to-do list or in the form of an actual schedule (or some combination) is up to you. There is no one-size-fits-all routine that will work for everyone.
It may even take you time to find the one that works for you. However, I promise you that things will flow more smoothly if you have a system in place.
Still Be a Kid
My last tip is a big one. Maybe even the biggest. It is to make sure you still act like a kid. I am always telling people that self-care is important. It is a lesson that I had to learn the hard way. As a mom, I have learned that I am better able to do what I NEED to do when I make time to do what I WANT to do. I am happier, healthier, and more productive when I make time to do things that I enjoy and that makes me feel good.
So that is what I do. I take breaks. I get rest. I hang out with my friends. I engage in hobbies. So, when it is time to work, I can do it without feeling stressed or burned out. My advice to you, my young friend, is to make time for being a kid. Hang out with your friends. Do silly things. Have fun. Don’t get so wrapped up in your business that you forget to enjoy life.
These simple entrepreneurial lessons for kids are ones that we can probably all still learn from as adults as well!