3 Ways to Help Your Children Cultivate Entrepreneurial Skills

Contributors' opinions are their own.

Nature vs nurture influence how to raise entrepreneurs.

Entrepreneurs are either born or bred. It was more nature for me. I wasn't raised around people who started businesses. My mother was a house cleaner. I suppose she could run her own business. I didn't see my parents reading income statements or managing employees at startup companies.

Entrepreneurs with a problem-solving mindset are natural. They see problems in the world and think of ways to solve them.

I was at baseball practice as a child. The snack hut had long lines. The kids were having a good time with their friends. I wondered how I could make a better system. The location was perfect and the pizza was not very good. Kids spent $6 for a slice of pizza every two minutes. The math was done in my head. It was a moment when I realized I wanted to be anentrepreneur.

I went to the store with my grandpa. Each package had 25 cents printed on it. You can get them for 12 cents a package if you buy them in bulk. It was a simple decision to me. I did not have to mark up the 25 cents to make a profit. It's the way I think.

There are four pillars for raising entrepreneurial children.

Your environment can impact a naturally entrepreneurial mindset

I was nurtured along my way to entrepreneurship. My environment made me feel good. We didn't have a lot of cash. I would have to wait until Christmas to get a bike. I knew I had to earn the money to get that bike.

I think it was a combination of need and mentality. It was the beginning of my entrepreneurial journey.

Entrepreneurial families can nurture future entrepreneurs

People who are born into entrepreneurial families are included. Their parents put in a lot of work. From a young age, they could be involved in the family business. They are able to be self sufficient. Early on in the business, there can be ups and downs in finances. Their views on starting their own business can be impacted by this. You need an entrepreneurial mindset in order to take advantage of the lessons you've learned from your parents.

Troy had more of a nurturing entrepreneurial experience than I did. The teacher had stacks of magazines in the back of the classroom. A teacher talked about starting a business He was inspired by his parents and a family friend. He wanted to start his own business because he saw them build successful businesses.

My own business has been refined by my entrepreneurial parents.

There are things you can do to cultivate an entrepreneurial spirit in your children, even if you don't own a business.

Think outside the box

Think outside the box for a reward. The way our school system teaches us to do things has been the same for a long time. Encourage your children to think outside the box. Help them come up with a clear solution.

Failure is a learning experience — no risk, no reward

There is no blame in my company. I believe this allows people to work with creativity. Mistakes are a part of learning. Mistakes are an important part of learning and growth. Entrepreneurs need to be cautious. Even if you don't become anentrepreneur, calculating the risk-reward of your actions is still valuable.

Practice your elevator pitch

If your children ask you for something, tell them you'll consider it if they come up with a strong business plan. It's just a request for a puppy. They should analyze their options, calculate the cost and choose the best path to get financing. Entrepreneurs find solutions to problems that other people don't believe in.

Is your child capable of making money? Give them the freedom to explore that side of themselves if it's true. The lemonade stand scenario is what it is.

Try some of the tools that I have outlined to put them on the path to entrepreneurship. The skills they learn will help them be successful in whatever they do.

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