Last weekend, Mommy Fellowship and Party in a Box from A to Z joined the Mommy Academy – Home Team Community Fair. It was an opportunity for my daughter and I to bond in an exciting adventure and her first time to experience how to be a kid entrepreneur.
Here are some tips on how you can encourage your child to be a kid entrepreneur :
- Support your child’s interest and passion.
My daughter has been into making slime for a long time now. At first, I was complaining about the mess she was making in her room. There’s gooey thing everywhere! But I see her joy and passion. She would research on the best slime to make, try every possible ingredient, and know which one will work or not. I ended up buying the materials and containers. Every time I ask her what she wants, she will ask for glue!!!
It will be costly to support our children’s passion and interest. But the returns are not monetary. You are building your child in the process — you may be raising a successful businessman.
2. Teach your child the “business side” of the activity.
Kid entrepreneurs should understand the business side of the fun activity. Explain how they will earn from the things they will make. They also need to know that materials or ingredients cost money. They need to be thrifty in using their resources and not to be wasteful. Sometimes, they will still think that they are doing these for themselves to play with, so every now and then parents need to remind the child about the entrepreneurial activity that he/she is planning.
I gave all the receipts to my daughter for her to compute how much we spent on the materials she used for her slime. She was thinking that all the money she collected from her sales was gain already. I need to explain that we need to subtract the costs of the materials. It was so much learning for both of us 🙂
3. Let your kid entrepreneur make decisions for his/her business endeavor.
As parents, we play the support role. Give your kid entrepreneur the freedom to decide about her business. My daughter decided on what kinds of slime to sell, the colors and the names (creative names). She also gave each kind of slime their selling price.
As they do these things, they learn to be creative and are empowered. They feel that they own the business.
4. Let your kid entrepreneur do the selling!
Double the fun in selling the items your child produced. Find venues to sell. Look for kid-friendly bazaars, community fairs or it can be just in front of your house in your village. Again, parents should take the support role and not the lead role. Your child will learn to interact and answer questions from customers. You are not just building a kidpreneur but building your child’s self-confidence and people skills.
What are your child’s interest and passion? You may turn it into a business and have a kidpreneur.
We would like to thank Mommy Academy – Home Team for inviting us to join the Community Fair last November 11, 2017. Mommy Academy – Home Team is an advocacy group that provides content through social media and live events that promote healthy family living, timeless values and fun bonding activities for all members of the family. Watch out for more community fairs that they will be having. Like their Facebook page for more info.