Tip # 27 Encourage Entrepreneurialism in Your Kids
Feb 01
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There’s never been a better time to be an entrepreneur than now, and our kids will face even greater possibilities for business startups over the next decade. Digital technologies have broken down barriers that previously prevented many people from pursuing their business ideas. From thirteen-year-olds posting comedy sketches on YouTube to traditional book publishers creating apps, the distance from idea to implementation has shrunk significantly.
The downside is the plethora of bad concepts that have materialized into failed products. However, with the increase in failures comes the inevitable increase in successful products. As entrepreneur Kevin O’Connor said (in a Financial Post interview): “You need to come up with a lot of bad ideas before you come up with the great idea.”
We are doing our kids a favour by helping them realize that their favourite digital gadgets are more than entertainment units. They are incredible tools for creating and sharing ideas and products. Having self-published a book, I learned first-hand the changing landscape of an industry that was always very closed to entrepreneurs. New printing technologies and online promotion enable writers to take a concept from story idea to printed book sold on Amazon. Sharing this experience with my children helped them recognize how empowering digital technology can be. If such opportunities were unavailable ten years ago, imagine how many more possibilities will arise in another ten years.
By helping our children explore the possibilities of online technologies, we can encourage them to develop innovation alongside a sense of empowerment. This will prepare them to exploit not only today’s opportunities, but those of the future. Below are some of the ways I encourage my kids to think like an entrepreneur:
- Talk about digital leaders like Mark Zuckerberg, Steve Jobs, Bill Gates. Discuss how they changed the face of the virtual and real world.
- Find articles magazines, newspapers and online sites to share with your kids that explain entrepreneurialism in simple terms or celebrate a young entrepreneur.
- Ask your kids to come up with cool invention ideas – it doesn’t matter how crazy the idea. Ask them how their invention would solve a problem.
- Start an Inventor Journal for your kids to keep a record of their ideas, whether it’s a story, video, or product. Pull it out regularly to encourage them to add to it.
- Talk about how virtual technologies relate to “real” world. For example, explain the pros and cons of technologies like debit cards, Facebook, PayPal, and how they represent real people, real money.
- Create a video, story, or invention together.
- Find ways to balance their video game time with online learning opportunities, such as Khan Academy and instructional YouTube videos.
Have more ideas? Share them below.
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