I look around me and are filled with a deep concern on what the future may hold for our children. The world is changing into a very challenging and complicated maize that needs to be carefully navigated. As parents we have a huge responsibility to empower and capacitate our children with the required skills and competencies to succeed in life. We need to teach our kids entrepreneurial and financial literacy skills, and in doing so, will instill in them character traits that are imperative for success.
There are three vital character traits that entrepreneurship will inculcate in your children:
- Self-confidence: A belief in yourself and your ability to face life’s challenges are critical to a child’s healthy growth into adolescence and young adulthood. Entrepreneurship embodies self-confidence based on your own internal motivating factors better than perhaps any other activity. Self-confidence teaches you the importance of good and honest relationships and helps you believe in your own ideas and your ability to find solutions.
- Resilience: Pain, disappointment and/or failure are an emotion that children will face sooner or later. Teaching your children the values of entrepreneurship will help them to learn about failure and not to fear it. More important, they’ll learn how to recover from it. Children with a background of entrepreneurial skills will know that it’s okay to fail at something even if they tried hard. The important role for you as parent is to help coach them toward solutions for their own recovery after failure. Prompt them to think how they can approach “problems” differently for success. Encourage them to look for solutions and lessons from failures. By doing this, you prepare your child with the durable spirit they will need to handle all the lessons life sends their way.
- Creativity: The world of work is evolving to say the least and rare is the millennial who thinks today that they will start with a good company out of university, stay there to retirement. The economic culture of today simply doesn’t reward that kind of behaviour and you shouldn’t want your children to settle for that. Entrepreneurial skills and principles teach your children to be creative and solve problems by finding creative solutions. That’s a skill that will help them their entire lives regardless of whether they end up working in a corporate environment or for themselves. Creativity is an essential job skill today.
Success in life is the sum of small efforts, so teach and encourage you children to make mistakes, fail at something, get solutions, solve problems, believe in themselves, help others, and take chances to overcome risks and start their journey to success.