He is 10 years old. He wants to run his own business when he gets older. He is very responsible and has a great deal of skills that it would take. I just have no idea where to start. Is there an online community or a webpage that gives ideas for children and support? What steps do you think we should take? Any other info would be greatly appreciated.
4 Responses to How can my son become a young entrepreneur?
Homeschool him and protect him from the dull, destructive school/prison internment system. Encourage him to do some creative things at this present time.
You’re very fortunate to have a child like this, and to be what sounds like a decent parent, yourself.
P.S. If he’s bright and remains in school, he could be singled out for being a “troublemaker.”
My sister was like this.
My dad is a businessman who has an MBA. He just encouraged her and taught her. At one point, she was selling sandwiches and cokes to all the construction workers in our neighborhood, driving the local sandwich maker out of business! He got so angry he actually reported her to the city and they forced her to shut down (health code, she didn’t have a dedicated kitchen). The construction workers were mad. 😉 But through it she learned investment and return, gross versus net, etc.
I’m sure there is something your son could get involved in. Have you tried FBLA (Future Business Leaders of America)?
Get him a paper route and making money and start him off by teaching him how to manage money. Entrepreneurs can not be quitters and it will be a good test to see if he has what it takes to do a good job and manage what resources he has. Then once he has proven that and is a little older have him start doing lawn care and things like that put start an action plan to get their now. Organize it so he feels professional. Have it as a two year plan and step one is for him to learn financial responsibility ad then step two is to save up and plan his own grass cutting service or something similar.
I want to be a young entrepreneur myself. I probably became this way from my very independent lifestyle outside of my parents even from a really young age. Homeschooling is defiently not the anwser YE’s need to meet and study people, that is something they cannot get easily through a home schooled enviroment. The most important thing is to instill a early sense of achivement and responsiblitly from jobs. Even though he is ten, he can maybe make money from you by doing house hold jobs and eventually move to the neighbors and then the whole block. Even when I was young I tried a billion differnt ‘businesses” I was always thinking of new ones but my mother was always encouraging but forced me to be smart like asking questions…is that legal, do you need a permit, insurance. It’s imporant to encourage him but also teach him how to be semi-realistic to research things he is interested and most imporantly go to college. I graduated a year early from high school because I wanted to get done faster to start my businesses but the application and technology he will learn in college will be very vauble to him eventually running a successful business. email me if you have any more question about handling his personality. Don’t feel bad if her tries to distance himself for you the YE spirit is very independent, he will eventually come back.