Benefits of Instilling Entrepreneurial Skills in Children by Business Development Expert, Umuringa Beata
Beata’s Story
Beata’s entrepreneurial experience started at the young age of 9 when she was her mother’s partner in a charcoal business. She was in charge of tracking customers and deliveries. For many years she had a great passion for business and a strong belief that successful entrepreneurs can be created and children entrepreneurship should be promoted to create a more self-independent generation.
In 8 years, she has worked with more than 300 entrepreneurs. Amongst them are youth entrepreneurs, cooperatives, independent business companies and individual entrepreneurs from all business sectors. Under her current employment, she offers financial advice, capacity building and sales & marketing consulting services. With the vast experience in this industry, she confidently encourages and provides impactful advice to any form of entrepreneur, from those starting in the industry to experienced business people.
Hearing from Umuringa Beata on this topic:
What is an entrepreneur?
An entrepreneur is a starter/initiator/innovator that creates something new, taking on risks in hope of profit. Therefore entrepreneurial skills include innovation, creativity and risk-taking. Being an entrepreneur is a great way to make a living and is one of the most enjoyable careers to pursue in one’s life. A lot of entrepreneurs wish that they started at a younger age and many believe that some form of entrepreneurship should be taught to students in school and I agree with them.
Getting children involved in school and learning can be as easy as teaching them to be entrepreneurs. The skills learned in starting a business are the same ones that make people successful in life. Children have the opportunity to build communication and organization skills, learn how to be a leader, and how to be a self-promoter, but they also learn much more.
Here are a few vital reasons why it is important to promote entrepreneurial skills in children:
1. Free Thinking
Recognizing and nurturing entrepreneurship in children gives them a chance to think freely and helps them gain self-confidence in their ideas and abilities. When children do businesses on their own, they learn to try and they get to see the measurable outcome of their efforts. They also learn that they will fail sometimes and that is okay because it is a learning process.
2. Communication Skills
A lot of kids struggle to communicate with anyone other than their friends. Talking to adults usually involves avoiding eye contact and giving short answers. The goal seems to be to get it done with as soon as possible. Entrepreneurship is a good way for kids to improve their communication skills. It places the child in a situation in which they will need to deal with all types of people and not just to their peers. They need to work with customers, vendors, employees, and advisors on a regular basis. This regular interaction helps them develop more confidence when communicating.
3. Stronger appreciation for money
One of the biggest benefits of teaching your children about entrepreneurship is that you’re able to give them stronger respect for money. Some children might believe you if you told them money grows on trees, but kids who are exposed to business operations know better.
4. Problem-Solving
Problem solvers are in high demand, always. Entrepreneurs learn to solve problems on a daily basis. Learning to become an entrepreneur even if it is on a small level, will give your kids an understanding of the importance and process of solving problems.
5. Self-worth
The entrepreneur must be able to create value, whether that means building a better table, offering a unique service or providing a product that is less expensive, faster or better. Learning how to do this helps a child understand that they can make or do things that other people consider valuable. With that understanding comes a personal sense of worth.
Also, engaging in entrepreneurial work gives a child an opportunity to solve problems, come up with ideas, deal with people and make an income. All these things bolster their sense of worth.
It is never too early to adopt useful habits and valuable life lessons. Whichever way you go or tools you use, you can infuse so much knowledge in children and make them believe in themselves. Encouraging them to try their best. No matter what happens with their business, even if the outcome isn’t as planned, we should motivate them to consider that experience as an investment in themselves and that they’ll benefit from it later in life.
