This is important because, when starting and running your own business, you regulate your own hours, no one is forcing you to work 9am-5pm at a desk, Patel says. By teaching your child self-control, even when she is a toddler being told to only eat one cookie from the jar that is filled, you are increasing the odds that your child will one day have higher income, better relationships, higher SAT scores, and fewer issues involving drugs and alcohol.
Encourage him to pursue his hobbies.
It may seem unlikely that a kid can really be an expert in anything. However, kids become infatuated with things they like, learning every facet of a game, a toy, a sport, an accessory trend, without even knowing they are. “My advice to all entrepreneurs is to start a business that you’re an expert in,” Patel says. “It’s pretty easy to narrow your ideas down to the things that you actually know and are good at. If you pick one of those things, this gives you a leg up.”
Teach her to be a problem-solver.
In a world where so many ideas have been thought of and so many inventions have been created, one might ask, where do you even begin brainstorming creative ideas? The co-authors of Kid Start-Up suggest looking at everyday problems, no matter how small, and find a way to solve them. These challenges are familiar to us, making it easier to think of ways to fix them. Does your son’s phone constantly die before after-school activities? Does your daughter complain her backpack is the same as everyone else in the class? Encourage your kids to look to these seemingly small inconveniences for inspiration.
Image: Co-authors of Kid Start-Up: How You Can Be an Entrepreneur, from left, Shaan Patel Mark Cuban, and Ian McCue.
Courtesy Mark Cuban, Shaan Patel, and Ian McCue