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How Young Children Can Benefit From Adopting an Entrepreneurial Mindset

Updated: Jul 22



When kids think about entrepreneurship they often picture adults who set up a business, and take on a variety of risks to do so. This is true of entrepreneurs, but an entrepreneur does not have to be a successful business person. Whether you are an entrepreneur or not it’s important that you teach your kids how they too, can have an entrepreneurial mindset. Kids taught about this concept early on in their lives will learn to value hard work and achievement.


Seven Virtues of Entrepreneurship

Holistec strongly believes that adopting an entrepreneurial mindset, perspective and skills is vital, which is why entrepreneurship is one of our three pillars. We believe successful entrepreneurship is based on seven key virtues:

1. Purpose

2. Vision

3. Communication

4. Collaboration

5. Leadership

6. Creativity

7. Mindset

More information about our key virtues can be found on our website under ‘Entrepreneurship.’ Even though mindset is the seventh virtue listed it is the starting point for every entrepreneur.


What is an Entrepreneurial Mindset?

A mindset is an established set of attitudes and values that a person holds. An entrepreneurial mindset refers to a specific state of mind where entrepreneurial thinking is at work. Much of this mindset involves resilience and steadfast commitment to a specific goal.The key is to recognize that mistakes are opportunities for growth. You should not be afraid to confront the challenges that you face.


Why Kids Benefit From This

Think about how you would have benefited if you were exposed to this idea at a young age. As kids you are highly impressionable and easily influenced by the thoughts and actions of your parents. There can be tremendous value in teaching your kids about these business concepts during their formative years. Here are a few potential benefits your children can gain from learning about entrepreneurship:


1. A better work ethic

A strong work ethic is an important aspect of any entrepreneur. Even though kids are probably not starting businesses of their own, they may need a strong work ethic when it comes to school and extracurricular activities. By learning how to have a strong work ethic, they will recognize that things don’t happen overnight; if they want something they have to work for it.


2. Appreciation for money

Most young children don’t fully understand the concept of money, and may think that it grows on trees. Unfortunately, it does not. Learning that hard work is what gives you money will teach kids to budget their money and work hard to achieve what they want.


3. Better goal setting

Having an entrepreneurial mindset is all in how you set your goals. It’s important for kids to be realistic about what they want, and take the necessary steps they can to achieve this. Certain goals may seem daunting, and if so kids can alter them and set smaller goals that are more attainable.


4. Improved people skills Want to add a caption to this image? Click the Settings icon.

The entrepreneurship world is all about connecting with the unfamiliar. Whether that be unfamiliar people, places or ideas, entrepreneurs must learn to adapt. By teaching your kids the entrepreneurial mindset, you are encouraging them to be okay with interacting with people they don’t know. Most kids don’t break out of their comfort zone until they grow older, so teaching them to push themselves outside of their comfort zone at an early age will enable them to truly reach their full potential.


5. Creative thinking skills

Creative thinking is a skill that everyone has the ability to improve, so why not start young? The entrepreneurial mindset encourages kids to learn new and improved ways of doing something. By learning how to think creatively early on in life, kids will be better problem solvers when they encounter greater challenges as they grow older.

These are just some of the many benefits your child can gain from learning about the entrepreneurial mindset.

So sit them down and get them involved in the process, because what they learn from you they will have with them for their lifetime.



Sources:

https://www.forbes.com/sites/theyec/2018/05/25/6-tips-for-growing-with-an-entrepreneurial-mindset/#39a96361343e

https://www.entrepreneur.com/article/292631

https://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/March-2018/3-Entrepreneurship-Lessons-from-the-Billion-Dollar.aspx

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