Helping Your Kids to Think like Entrepreneurs

When we were having trouble getting the boys to do chores we bought them each an invoice book. They got a price list from me on which chore was worth what and it was their responsibility to do the chore, write the bill and collect payment. They loved it! They even went as far as going to the neighbors to ask if they needed chore helpers and used the rate sheets I gave them. I need to get them excited like that again! The cool thing was if they didn't write me a bill...I didn't have to pay. So, it was a responsibility, writing, math exercise too! Loved it!

I love the previous poster's idea about writing a bill... genius!

Remember that "entrepreneurial spirit" goes way beyond the cash exchange for goods concept. Challenging young ones to be independent and responsible, having confidence to say they did well and accept when they don't, get involved in the community (i.e. volunteer), etc. Teach them what it means to be a good citizen and patriot... this country was borne of entrepreneurial spirit and intellect.

Good luck!

A.,
One of the things I'm most proud of with my oldest is that he never asked me for money, instead he'd say what can I do to earn $X. It's not that he didn't get any money from us or anything, it's that he knew it was not an entitlement to have spending $. He and his friends used to take lemonade to the skate park to earn some money when one of their friends didn't have the money to go to the pool with them, (5-6th grade), and they'd go ask to mow lawns to earn this or that. Sadly he didn't learn to save so I'd push that one with your kidlets. I'm working on my daughter who has no urge to work & earn for herself, which sometimes stuns me. I took my oldest child's work ethic for granted, now he's in the Air Force working hard for our freedom!

Good luck!
D.

Hi A.

It really depends on their age and the child or teen. Baby-sitting or pet-sitting businesses and mowing lawns are all good ways to start. The most important thing, I think, is to let them decide what it is they want to do and to make sure they realize that it is their business not yours and with that comes personal responsibility.

I own my own business and I love it! Good Luck!

B.

There is a book I highly recommend called Beyond the Lemonade Stand by Bill Rancic. This is a book that is geared towards children and getting them to think like an entrepreneur early in life. Bill Rancic was the first person to win on the show The Apprentace with Donald Trump. Good luck!

J.

My son provides magic shows for kids birthday parties. He has an ad on craigslist. He pays for cub scout camp every year with the money he earns.