Kids look for business ideas when they are too young to have a regular job. It's worth encouraging this! Making their own money builds confidence, develops life skills, and encourages your child to take an interest in mathematics and written English - maths for calculating profit margins, and English for writing marketing materials.
The right kind of business experience when they are young can provide kids with a lifelong ability to make money. This is a priceless asset in today's uncertain economy.
Kids naturally want to earn their own money once they understand what money is and how it works.
Before they are old enough to have a regular job, their only option is to become entrepreneurs, and unlike adults, they are usually not daunted by the prospect.
Here are just a few business ideas for kids:
Household help
Babysitting
Finding lost golf balls
Selling things on eBay
Bartering
Exercising agisted horses
Dog washing/walking/sitting
Breeding rats
You need to start early and work constantly to keep your kids' money attitudes positive.
We've all heard our children complain "I can't", haven't we? And when they are little, it's often true that some tasks are beyond their capability at the time.
What we did was to get our kids to say "I need more practice" (or sometimes "I need to get taller"!) These days, they are all teens and tweens, and we just don't hear "I can't" any more. We sometimes even get the delightfully honest "I could do that if I practiced, but it's too much of a trek and I can't be bothered ..."
The difference between "I can't" and "I choose not to" is priceless.
There is no point finding great business ideas for your kids if they are going to be sitting around saying it's all too hard - the business ideas will never be implemented. Focus on their mental attitude, and then their businesses - and their entire lives - will reap the benefits!
Jenny Ford is an expert in educating children about business and wealth creation. She is one of the founders of Cash-Smart Kids.
She holds an Honours degree in Psychology, a Diploma in Training and Assessment Systems, and an Advanced Diploma in Business Management. She is the mother of three young entrepreneurs, all of whom started successful businesses when they were nine to twelve years old.
Kids Money Articles Review by Jenny Ford
Source: www.articlecity.com
