Episode #930 September 22, 2023
In today’s wild workplace your kids may have already seen your disappointment in having a traditional job.
Maybe they’ve already experienced their own frustration at making $18 an hour and not being able to afford a car and an apartment. Is it risky to encourage them to do something more creative – without the guarantees and security of a “real job”? How do you teach them to be responsible? What if all they have are creative skills that are tough to turn into income?
Well, we’re going to walk you through a listener question and then lay out a plan for helping your kids see their best options. And if you’re the parent – having these same questions yourself – today’s your lucky day. We’re going to walk through how to test yourself – and any idea you want to create the work and life you want – starting today.
So, grab your cup of tea – or maybe your Mt. Dew – and get ready for a power-packed episode filled with practical advice, inspiring stories, and valuable resources to help maximize your contributions – and clarify how you can help your kids be their best.
Questions:
If I was your child, how would you teach/encourage me to be an entrepreneur without merely telling me, “You just gotta do it”?
Kids and entrepreneurship:
Traditional jobs can be disappointing for our youngsters, with low pay and limited freedom. But encouraging them to explore their creativity without guarantees can feel risky.
How do we teach responsibility and help them turn their creative skills into income? As parents, how can we guide our kids through this journey?
Parents should take the time to explore and understand their child’s passions and abilities. By identifying what the child enjoys and excels at, parents can then encourage and support their entrepreneurial aspirations in those areas.
Instead of pushing a child into a specific business idea, Help them discover their own interests and talents, which will ultimately fuel their motivation and commitment.
It is important to teach kids about responsibility and the challenges of turning creative skills into income. Parents should involve their children in real-world experiences, such as starting a small business, volunteering, or taking on part-time jobs, to help them develop a solid work ethic and a realistic understanding of entrepreneurship.
Why are profits better than wages?
Contrary to popular belief, wealth and success can be achieved through entrepreneurship.
Remember, wealth accumulation comes in various forms – not just through sports, music, or movies! Starting your own business can lead to financial success. The possibilities are endless!
What are the three reasons people never act on their dreams to achieve the financial independence they desire?
Firstly, fear is a significant factor that holds people back from pursuing their dreams. Fear of failure, fear of criticism, and fear of the unknown can all prevent individuals from taking action.
Secondly, the lack of clarity is another reason why people don’t take steps towards their dreams. Many individuals may have a vague idea of what they want but haven’t taken the time to define their goals and create a clear plan of action. This lack of clarity can lead to indecision and procrastination.
Lastly, limiting beliefs. These are the self-imposed barriers that people place on themselves, believing they are not capable or deserving of achieving financial independence. These limiting beliefs can come from childhood experiences, negative self-talk, or societal conditioning, and they hold people back from making progress towards their dreams.
Is there a game I can play with my kids to teach them about business?
Experiential learning and engaging children in real-life business scenarios rather than relying solely on games is important.
Hands-on experiences, such as involving children in family businesses or encouraging them to start small ventures, can be more effective in teaching kids about business and entrepreneurship.
There’s value in actual experiences in developing business skills, problem-solving abilities, and a strong work ethic.
Teaching kids about money and entrepreneurship is an ongoing process, and one that can have a lasting impact on their future success.
I’m going to end with a letter from a Dad that will rip your heart out – with the regrets of what he taught his son.
Quotation:
“Train up a child in the way he should go: and when he is old, he will not depart from it.” Proverbs 22:6
Resource:
Take the entrepreneur readiness quiz – do you have what it takes to be an entrepreneur? 48days.com/entrepreneur
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