In Business and Entrepreneurship we have mentioned several times that children have immense creative and entrepreneurial potential, and that the job of parents and teachers is to allow them to develop that potential so that they are capable of achieving everything they set out to do.
Childhood is one of the most important stages in the life of every person, it is there where their character, self-confidence, values, etc. are formed. For this reason, it must be a stage where, through games and fun, they are allowed to develop their leadership capacity, discipline, and many other skills associated with entrepreneurship.
We have prepared this report with some advice, smart business ideas and success stories of child entrepreneurs , as a way of showing all the potential that exists in the smallest of the house and inviting them to be the ones who contribute to strengthening the entrepreneurial spirit in the new generations. Do not forget to leave your comments, opinions and contributions on the subject.
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Youth entrepreneurship zone
Children, seemingly harmless, agitated, playful and always smiling. Under this concealed and well-worked image that the youngest members of the house offer us, there is hidden potential of incalculable value. It is true that some are born with the gift, others are lucky, but sooner or later in some cases their creativity, innocence and imagination come together to offer revolutionary ideas, businesses that are born from nothing and companies that generate benefits in an amazing way.
Be that as it may, we must not forget that offering a good education to our children will allow them to continue transforming their projects into effective corporate ideas in the future. It’s a matter of making it compatible. If you’ve thrown yourself into a project now, let’s not throw it overboard, but let’s accompany you on the hard road you’re going to find. They can use their imagination, creativity and ingenuity, but the older ones will have to offer them the experience and an idea of the harsh reality that they are going to find.
How to motivate entrepreneurial children?
To stimulate children, it is necessary to use much simpler and more direct techniques than for any adult, that is, given their early age we cannot provide them with specialized classes or practical courses so that they can learn sales techniques, organization, competition, marketing, market strategies. nor any other technical area. The only thing we can do is instill in them values from a very young age, so that they accompany them throughout their career while their traits and abilities are cultivated and polished. All this combined with high doses of fun and entertainment doing your favorite activities.
Education and training are the two fundamental pillars that a child must receive. If they have a solid and broad base, there will be no barriers to their power of action, they will be able to undertake everything they set their minds to, they will see opportunities where others do not arrive and they will develop it long before anyone else with fewer resources of this type.
What ideas can a child undertake?
The same thing happens with the older ones, the ideas to start a new project must start from our own perception, since we are the only ones who will have the ability to select what truly excites us. With children it happens exactly the same, they must do what they like the most , and to achieve this it is essential that they select their project themselves. They are small and potential entrepreneurs, let’s not forget, they can burn out and/or change their minds much sooner than we think. You have to know how to motivate them to allow them to maintain that idea.
Many wonder about what are the main activities that children choose for their projects, generally at this age there is a great tendency to develop creative-type services, that is, projects based on the creation of toys, craft products, paintings or decorative items. . However, there are other more adventurous ones that dare with much more adult ideas, such as recycling, services related to the environment or even the development of telephone applications. Actually, there are no limits. Here are 10 smart business ideas that child entrepreneurs can explore:
1. Artistic entrepreneurship
It is an excellent option to support children with a talent for a specific art, such as drawing, painting, music or dance. We have reference cases such as that of Karolina Protsenko , a talented violinist who at the age of 13 has managed to build a community of more than 5 million subscribers on YouTube.
2. Sports Entrepreneurship
Ideal for those who are passionate about a sport. There are options such as sports journalism, pursuing a sports career or becoming a team coach. For example, if your child loves to talk about a sport, you can encourage him to create his own blog to write about it.
3. Recycling business
Through this smart business model, you can teach them the importance of recycling and values about caring for the environment. You can even teach him to build new products from materials in good condition that have been discarded, thus stimulating his creativity.
4. Home mini-store
It’s a simple idea, but ideal for teaching sales, strategy and money management. Let him be the one to decide what products he wants to offer so that he feels more motivated. It is better that you sell few products, but learn to market them strategically.
5. Homemade ice cream smart business
Ideal for those children who live in areas with a warm climate. It is a simple and very attractive business.
6. Creation of digital content
Cases like that of EvanTube HD and Ryan Kaji , two boys who today have millions of followers on their video channels about sweets and toys, demonstrate the great potential that this industry has for entrepreneurial children. It is an excellent business model to help them improve their communication skills.
7. Lemonade sale
One of the most traditional businesses among children around the world. It’s simple and fun. For example, we have the case of Mikaila Ulmer , who at the age of 11 became a millionaire selling lemonade based on a recipe that she learned from her great-grandmother.
8. Making homemade accessories
Your children can have fun making bracelets, necklaces and other types of accessories to later market them through Instagram or a website.
9. Mobile app development
Ideal for those who are passionate about technology, the app industry is very exciting and offers endless opportunities. We have cases like those of Michael Sayman and Robert Nay , who managed to create successful applications before their 15th birthday . Also, learning about programming is one of the most important skills in today’s context.
10. School tutorials
If your child is doing very well in a specific area, you can encourage him to offer tutoring services for students who are studying previous grades. A very interesting way to help you earn your own money while increasing your knowledge and helping others.
Which of these ideas did you find most interesting? The important thing is always to opt for a business model that is safe and that is related to the passions, hobbies and interests of the child. Above all, your safety and happiness prevail. In addition, try to choose projects that help them develop important skills such as knowing how to sell, speak in public, know how to manage resources, etc.
How to encourage entrepreneurship in children?
Rewarding their efforts can be easier than we think, since while adults are conditioned by personal goals, traits, benefits, trends, studies, needs, and specific market situations, the child reduces all these points to just one: his degree of satisfaction for doing what he likes, and if he obtains a benefit that allows him to continue and enjoy at the same time, he will have everything he needs to continue with his project.
They won’t examine what’s most vital in any effort because they merely want to have fun. For this reason, we must remember again that without our help, experience and motivation it is impossible for them to continue with their idea.
Well, let’s make it as easy as them, in order to encourage their entrepreneurship , let’s put ourselves in their shoes, let’s offer them the possibility of receiving greater rewards as they grow and develop their project. It is about improving their skills and aptitudes for the future, we will not be able to condition them or force them to meet economic objectives at this age, do not forget that.
It’s crucial to allow them to be innovative and encourage their leadership growth. They must also grasp the significance of self-control, determination, and patience to achieve their goals. We must strengthen their self-esteem and encourage them to trust their own abilities. Show children the importance of decision-making and that every decision they make must be taken responsibly.
Success stories of child entrepreneurs
We have recently found some examples of enterprising children who have been able to find their particular goose that lays the golden eggs. You will see that the vast majority of the businesses they are carrying out are not new to the market, but their youth, creativity and enthusiasm have allowed their services and products to gain a foothold in the market:
1. Nick D’Aloisio.
A 17-year-old British boy passionate about programming and design, where with his creation Summly, a company dedicated to improving the visibility of news on mobile terminals, he has managed to attract the attention of the industry’s bigwigs. Now Yahoo! bought his idea from him, valued at more than 50 million dollars.
2. Jasmine Lawrence.
At the age of 13, she founded Eden Bodyworks LLC, a small company dedicated to the production of natural beauty products. Her initial capital was $2,000, her bedroom (used as a factory) and great motivation.
3. Leanna Archer.
At the age of 13, she launched her first hair care product on the market based on a family recipe. Now her products are known throughout the United States and it is estimated that she earns half a million dollars a month.
4. Henry Patterson.
This young man from the UK is nine years old and has already started 3 businesses . His most recent project is called “not before tea” , a company where his main function is related to the production of candies and sweets. He has the advice of his father and his mother.
5. Cameron Johnson.
He launched his first business at just 9 years old, his idea was to design and sell party invitations. Years passed, and Cameron continued to follow his passion for smart business, thinking of ways to increase his income. At age 12, he bought his sister’s doll collection for $100 and sold it on eBay for up to ten times what he paid for the collection.
How good it would be to grow up without the fear of failure and firmly believing in our own abilities, don’t you think?… Many of our greatest fears and frustrations are created by our parents and teachers who unconsciously prepare us to assume life with resignation and always trying to play it safe.
When we are children we believe that everything is possible and we venture to discover the wonders of life without any kind of fear, and it is precisely this attitude that we need to face the challenges throughout our lives. We must be leaders, determined, disciplined, creative, curious and passionate about all the projects we start, in other words, we must be “child entrepreneurs” throughout our lives.
The idea of this report is to invite them to instill the seeds of entrepreneurship in children so that, while they play and have fun, they develop the necessary skills and abilities to achieve their dreams. We know that there is a lot to do, but with small activities we can contribute so that every day there are more children and young entrepreneurs willing to live passionately and without fear… What do you think?
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