Would you encourage your child to become an entreponeur?
By katerina
@thea09 (18305)
Greece
July 5, 2009 8:02am CST
My 10 year old son and I like to watch certain TV shows together and one of our favourites is the apprentice, both the UK and AMerican versions. The UK version is funnier but has inspired my young son to start to think of creative ways to start his own business. Yesterday we invested in bottles of water, froze them, and today he tried to sell them on the beaches as iced water. He had little luck to start with and began to get discouraged but then became more confident and made a few sales. I have promised to show him how to set up his accounts, reinvest some of his takings to to replenish the water he sells, use some to contribute to the electric he has used and then to work out his own profit which will be his. Do you agree that this is a good idea to encourage and to give a child a good business sense early in life?
1 person likes this
2 responses
@thedailyclick (3017)
•
10 Jul 09
I think it is wonderful that you are encouraging your child to look for entrepreneureal opportunities but also the mechanics of a business such as accounts. It is something I wish I had been taught at a young age rather than a lot of the accademic nonsense which was forced upon me in school.
Something which I have realized is that as you get older, leave school and get sucked into the real world you can lose the ability to use your imagination and think outside the box. I believe that using your imagination should be encouraged not only as a child but through out your life.
Good on you for encouraging your son
2 people like this
@thedailyclick (3017)
•
11 Jul 09
This is the thing I don't believe schools teach, or they certainly didn't, the reality of money. I was never taught about budgeting, tax, National Insurance or the benefit of compound interest and learned all of this stuff when I left school as the subject of money was taboo in my family. I feel that schools have a responsibility not just to teach accademic stuff but also real life skills.
I remember my driving instructor saying to me "I will teach you how to pass your test and then I will teach you how to drive". That has always stuck with me and feel that schools teach you the stuff to pass exams but not the stuff which is useful in life.
1 person likes this
@apgh09 (514)
• United States
6 Jul 09
hi thea09, i think that is a wonderful parenting skill and learning skill for your son!!!!!! keep up the good work. I definitely would encourage my children or anyone young child entrepreneurship. We are always taught to go to school and get a job to work for someone else. WHY? so we can be poor the rest of out lives. Keep doing what you are doing your son will thank you for what you have taught him. it will teach him to be independent, responsibility, money management, i was at barnes and noble and was looking at investment books it was very interesting. I'm sure if you go to your bookstore you'll find allot of good books on money management and investing your money in the right place. and maybe you can talk to him about ira, cd, savings bonds, and retirement funds, that way he'll always have that knowledge to fall back on and won't have to rely on social security !!! Continue your doing the right thing !!!!!!!!!!!!!!!!!!! smile
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@thea09 (18305)
• Greece
6 Jul 09
Hi apgh, thank you for your kind , words. I think he is off to a good start, he is already totally bi-lingual which will stand him in good stead in the future. When I ask him what he wants to be when he grows up he never has an answer, we haven't been through the fireman, teacher routine. I expect he will probably want to do something for himself and if he does I will encourage him. When he starts to make a profit I will introduce him to tax which I will take out of his takings and put aside for him so he can learn early that you don't get to keep all your earnings, unlike in the real world I will give it back to him but let him get used to the concept.
