Some of you may be wondering why even start the conversation about kid entrepreneurship with primary school-aged children. Doesn’t the common belief tell us that the focus of formative years is on building the academic knowledge? I shared that belief before my own children started school. Now, I am convinced that modern education should go hand-in-hand with practical learning, even better – drive academic learning.
Here are a few facts. The Australian research agency Mccrindle identified earlier commercial sophistication as one of the characteristics of generation alpha – today’s primary school children. Born between 2010 and 2025 and predicted to be the largest generation by the time they are all born, the kids of this generation are called ‘screenagers’ due to their early screen exposure – before they even learn to speak. Just think about this – the largest generation in the world’s history with high commercial aptitude!
The same research suggests that entrepreneurial outcomes will be the focus and the expectation of future education.
This trend is already being proved by another Mccrindles’ research which found that 86% of today’s students regard themselves as future entrepreneurs, either full-time or part-time. That is nearly 9 students in 10 planning to run their own business to some degree!
While business education for kids is being recognised as a value-adding touch to some middle and high school curricula, most schools, particularly primary schools, do not yet meet this need for commercial knowledge in children. And while it should not be considered the final goal of education, kid entrepreneurship is a great opportunity not to be missed in engaging children in learning and creating motivation to pursue the knowledge beyond the classroom.
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Benefits of learning kid entrepreneurship
By starting their own business kids can advance their academic knowledge independently, appreciate the hard work that goes into money making and learn essential life lessons, such as planning and prioritising, overcoming failures and being in control of the money (and not vice versa).
When I work as a casual relief teacher across Australian primary & secondary schools, one thing that consistently stands out for me is the level of disengagement among children. The kids are simply not interested in doing inspirational writing every single day. The prompts that are given to them are not engaging, to say the least. So while they duly do the assignments, I can see there is no spark in their eyes.
Now imagine they need to create a landing page for their website or a product description about something that fascinates their minds, be it travel, technology, or a social cause. And there is real competition they should keep an eye on! How well they do their job depends on whether they attract any customers and earn any money. Now, that is a reason in itself to do well and explore how to spell correctly, how to structure a persuasion piece, and how to use the verbs of action (and obviously, know the other parts of speech). The list of skills the kids need for this task goes on and on and extends into maths, in order to calculate profits, bundles and prices, as well as science, geography, etc. depending on the chosen area.
Thus, the main benefit of starting a business as a child is growing motivation by understanding why and how the wider knowledge will help them win the entrepreneurial game.
How parents can encourage entrepreneurial thinking in children
Let’s be honest: not all kids are entrepreneurial by nature, and that’s totally fine. Our goal as parents is to help discover kids’ natural talents and develop them further.
Here’re a few ideas to see if your child has an interest in becoming an entrepreneur and how to build it:
– Read about entrepreneurs and their journeys, which are often inspiring real-life stories, such as Shoe Dog by the founder of famous Nike Corporation Phil Knight.
– Visit small business owners in your neighbourhood and talk to them about what it takes to run a business, which skills a successful entrepreneur must have and what challenges they face every day.
– Ask your child about the pros and cons of being an entrepreneur vs an employee.
– Visualise how their life will look like when they run their own business. Try to avoid idealisation and remind them about the many failures successful entrepreneurs had to go through.
– Encourage your child to think about how they could have overcome those situations and which skills they already have or need to learn to achieve business success.
Not only you’ll connect with your child through such conversations, but you’ll give them a direction of thinking and further exploring the entrepreneurial world.
Business education for children
If you discover that the idea of running a business fascinates your child, then deep dive into business courses for kids, such as Miss M Online Classes (www.missmonlineclasses.com) which are specially designed for children 8+.
Take advantage now and get any of the entrepreneurship courses for kids with 20% off! Use the DISCOUNT CODE missm20.
Hurry! It’s only available till the end of the month (31st October)
I developed these courses with my own children in mind using the best approaches that worked during my school teaching to make the lessons valuable and equip kids with tangible outcomes they can apply in real life straight away. Teaching being a secondary career, I generously share the gems of 17-years long marketing experience which included running my own business. Thus, kids don’t learn dry theory like in many other courses. Instead, they learn complex concepts through well-illustrated examples that surround them and they can relate to.
In the online course “Marketing Foundations: How To Start Business As A Child” kids learn key marketing concepts and how to discover and monetize their talents through a series of practice tasks.
If for any reason your child does not show an enterprising interest, the idea of learning critical thinking skills through analysing advertising, colour marketing, product labels and other marketing effects designed to encourage specific buying behaviours, may be something they are willing to explore. In this case, they will benefit from the course “Un-Marketing: How To Shop Smart & Own Buying Decisions” designed to educate children to think independently in the shopping environment.
There is no lack of business courses for kids these days. The key is to find those that are developed by professionals who have learnt their entrepreneurial art not by textbooks or courses, but through personal experiences and can engage with children to grow their motivation to pursue self-learning. In other words, to set up the child for success and give them the motivation to succeed.
As a teacher, an entrepreneur, and a mother in the first place, I believe that raising motivated kids is more important than teaching school subjects. Similar to cooking, kids enjoy well-prepared food and may even ask for more when it is made to their taste. Contrary to that, they refuse or spit out the food they don’t like. This is why the knowledge, like food, should be well cooked in a way that grabs kids’ curiosity and prompts them to explore concepts on their own beyond the school curriculum.
About the Author
Miss M Online Classes (www.missmonlineclasses.com) is an online project for children 8+, developed by an Australian teacher, mother and business professional.
Its objective is to equip kids early with essential life skills that will benefit them well into adulthood. The project offers self-paced, kids-focused online courses which educate children about entrepreneurship, key marketing concepts, critical thinking through analysing advertisements and other marketing effects, as well as time management basics.
Julie successfully combines her teaching background and extensive marketing career, to ignite a spark of learning and encourage children to pursue self-education beyond the classroom.
Use the DISCOUNT CODE missm20 and get 20% off any of the awesome entrepreneurship courses for kids – discount available only till the 31st of October.
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Mom of two wonderful children, dedicated teacher and book lover.