Why your child needs to think like an entrepreneur

In July 2020, Forbes published a detailed article with guidelines on how to raise entrepreneurial kids. They also defined what they meant by ‘entrepreneurial’: “Entrepreneurial means confident, positive, creative, resourceful, and resilient. An entrepreneurial person is someone who is faced with a problem and works out the solution.” They stressed that the sooner a child started thinking in this way, the faster it would grow into a habit or mindset, and help them to have greater control over their lives in future.  

Steps to develop entrepreneurial mindset  
Helping your kid think like an entrepreneur does not mean making him or her an entrepreneur. In fact, they may opt for a regular office job. But they will be happier with whatever they do, since it would be a conscious and self-made choice. Here is a 5-step approach to help your kids have an entrepreneurial mindset.  

Cultivate the mindset: You can start with a simple step suggested by corporate coaches and sports trainers: goal writing. A child’s goals may be small, learning multiplications, being able to swim better or baking the first cookie. But as they conquer it and tick it off, they will become focused, confident and motivated.  

Develop the skills: Following the syllabus is not all. Developing skills are going to help in achieving more and ultimately finding a profession. Differentiate these two for your children with examples: learning to add is part of the syllabus, but understanding how Math is part of our lives is a skill.  

See the opportunity: You can’t close the lid of a tin properly, and if your kid wants to help, allow him or her. Problem solving is a skill developed only by those who can spot a problem and think of a solution as an opportunity. Introducing your kids to DIY kits and ‘how things work’ stories are a great way to inspire troubleshooting mindset in them.  

Mentors and role models: Be both mentor and role model. Learn with your kids. If they are discovering how a pressure cooker works, enjoy the light bulb moment with them.   

Find the best way forward: What works best: solving a problem alone or working with a team? Open both scenarios to the children. Cleaning house calls for teamwork, but they can plant a tree in a pot by themselves. This is what will make them the future decision makers.