How to Help Your Kid Start Their Own Business 

Helping your child hone their entrepreneurial spirit can work wonders. They’ll learn how to be creative, manage money, and make smart decisions. Eventually, your children will have to learn to think for themselves, and if they’ve demonstrated an interest in starting a small business of their own, it’s important to encourage those entrepreneurial endeavors—even if it just seems like a temporary fad.  

Allowing them to follow these goals will eventually help them in other areas of their life, too, and have a big impact on their future. For instance, by starting their own business, they gain their own sense of independence, which can later help them with schoolwork, sports, or chores.  

Give Them Inspiration 

One of the best ways to help cultivate your child’s dream is to show them that other children have done it, too. Many times, children need more inspiration than it seems, and encouragement from their parents will only take them so far. When you’re able to show them concrete examples, it can solidify their mission.  

For example, the series “Shark Tank” has plenty of children-themed special edition shows, where kids introduce their business to a team of adult investors. These children pitch their ideas with confidence, selling ideas for products and services that they came up with on their own.  Watch these episodes with your children to create bonding moments and show them that they’re not alone in their endeavors.  

Do Your Research  

As much your child has the best intentions, and will likely do some research of their own (YouTube is a much better resource than you might think), it’s important for you to get involved by doing some research yourself. For example, if your child started a line of t-shirts, you might discover that sublimation ink for Epson lasts longer than other types of inks and becomes a part of the product. Or, you might learn that one type of material is cheaper when sourced from a different manufacturer. Be sure to always communicate your findings to create consistent teachable moments. Of course, how you communicate all depends on their age. However, even if they won’t understand all the intricate points, do your best to explain.  

Talk About Goals 

Having a candid and transparent conversation about what your child hopes to achieve can create accountability on the child’s part. As a parent, it will also help you understand what your child really wants out of their business. For example, if they want to start a beaded jewelry company, you can discuss how the materials will be used, how much they cost, and what each piece of jewelry will be sold for. Ideally, this will encourage your child to begin to problem solve on their own, rather than wait for you to do it for them.  

Create a Website for Them 

Every business has a website, and your child will feel much more legitimate with their efforts if they have one, too. A website can make their dreams feel more tangible and concrete. After all, here is this “thing” that they’ve created and can show to the world. These days, starting a website is easier than ever, and it’s something you can do together.  

Using a platform like WixWordPress, or Shopify, you can quickly leverage pre-made templates, allowing them to choose the colors and fonts. You can take your efforts up a notch by ordering a cheap batch of business cards. For just a few dollars, your children will have fun passing out these cards and making their business more memorable.  

Don’t Apply Pressure 

There’s a fine line between encouragement and pressure, and parents should be wary not to push too hard. If their desire to start a business begins to feel like a chore versus something that they want to spend time doing, they will quickly become discouraged and resentful towards that business. While you may feel frustrated at the thought of them giving up, understand that it’s natural for children to have stronger interests in other things. If they want to pursue something else, don’t force them to stick to what they’ve started.  

Being an entrepreneur should be a fun challenge—not something that affects them negatively or impacts other areas of their life. On the other hand, it’s important to understand when it’s time for you to step in and create a separation between their child business and their child lifestyle. Pay attention to any signs of stress; the last thing you want to do is see them become so invested in their idea that they pull away from school and friends.  

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