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Why Should I Be Encouraging Entrepreneurship in My Kids?
Always Encourage Entrepreneurship in Your Kids!
When we think of all of the principles, skills, and lessons we should be teaching our kids, entrepreneurship isn't usually at the top of the list. It actually may not even be on the list, but hear me out.
We want the best for our kids, and everything we do for them and everything we teach them is to help them become successful, fulfilled, giving, and loving adults in society.
Studies have shown that young adults are seeking out jobs over other life milestones.
Jim Clifton, the CEO of Gallup touches on this in his book, The Coming Jobs War, - "People used to desire love, money, food, shelter, safety, peace, and freedom more than anything else. Now, however, what everyone in the world wants is a good job." See more in Jennifer Robison's Q&A with Clifton >>> Entrepreneurs Must Save America
In another article, John Hope Bryant and Jim Clifton reveal a statistics report on kids and entrepreneurship. "There are some promising signs. About 40% of students say they plan to start a business and/or invent something that will change the world. The problem is, less than 5% of these students are participating in internships at companies or organizations. This is arguably the single biggest national failure of our leadership. Not Washington's, not the public school systems' -- but yours and mine." View it here Forty Percent of 5th -12th Graders Plan to Start a Business
So why is it beneficial that our kids are encouraged to be entrepreneurs?
We all want are kids to carry themselves with confidence. Having their own business, a kid will learn skills, such as: public speaking, math and accounting, customer service, problem solving, work ethic, creativity, and interpersonal relations. These valuable skills will translate into confidence in other areas of their life.
The job market is incredibly competitive! If you have been job searching any time within the last 5 years, you know this is true. Having a college degree does not guarantee a job anymore. A degree can sometimes even narrow your options by over qualifying you for certain jobs and simultaneously, lumping your application in with all the other MANY college graduates. Being a business owner allows one to build a business in the field of his or her choice. Entrepreneurship has its own risks, but it also can bring a lot of freedom.
Freedom in Business
Being an entrepreneur and owning your business allows you to be your own boss. Self-motivated people find this to be incredibly freeing because they can set the pace for their growth. Business owners can determine their own hours, prices, location, marketing strategies, pay, and many other factors.
The Economy is Changing
Many experts believe that the future of the economy lies in entrepreneurship. The job market looks grim, but things can be turned around by more jobs being established by entrepreneurs. Again Jim Clifton confirms this by saying,
"The United States has no shortage of great ideas and innovations. What the country most needs right now are highly motivated entrepreneurs who can turn those ideas into great businesses -- and thus create millions of new jobs."
Clifton also encourages readers that the cure for the current state of our country is in the hands of young entrepreneurs. They will change the trajectory of our economy.
Stronger Sense of Purpose
Studies even show that entrepreneurs have stronger sense of purpose and well-being, especially females, as opposed to workers that are not entrepreneurs.
"In the U.S., entrepreneurs are more likely to be thriving in purpose well-being than other workers (51% vs. 44%, respectively). This is especially true for female entrepreneurs, who are more likely to have strong purpose (56%) than male entrepreneurs (47%) and other female workers (48%)." In U.S., Female Entrepreneurs Thrive in Purpose Well-Being
It's pretty convincing to me, but kids find the greatest encouragement once they begin the process of having their own business and making and managing their money.
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