Why You Should Teach Entrepreneurial Skills to Your Children?

PREPARE FOR THE FUTURE JOB MARKET

Today’s students face an uncertain future full of complex global and socioeconomic challenges, including a rapidly-changing job market.

According to the 2017 Future of Jobs report by the World Economic Forum, nearly 50% of companies expect that automation will lead to some reduction in their full-time workforce by 2022.

This is going to fundamentally alter the types of roles and work environments our students will face after graduation.

Your child’s future job may not have even been invented yet - which means they will need to know how to quickly acquire new skills and adapt to new environments after they graduate.

Entrepreneurial skills, such as resilience, industriousness, and problem-solving are going to be incredibly valuable for this learning process, and therefore should be taught at an early age.

IMPROVE GOAL-SETTING ABILITIES

Goal-setting keeps you inspired, motivated, and focused on your future success.

It gives you both the long-term vision and short-term motivation to make it happen.

Entrepreneurial skills, such as problem-solving and leadership, go hand-in-hand with goal-setting skills.

Entrepreneurship teaches children to always have a long-term outlook - then break big goals down into smaller, more manageable goals.

Entrepreneurship-focused activities can also teach children how to recover when they fail to meet a goal of theirs.

LEARN DIFFICULT SUBJECT MATTERS

Participating in entrepreneurship-focused activities and programs makes you a more efficient learner.

The problem-solving skills, combined with entrepreneurial determination and perseverance, can help you work through even the most difficult problems.

If children are taught these entrepreneurial skills at an early age, they will be able to master difficult subject matters much more quickly.

GAIN A BETTER UNDERSTANDING OF HOW TO MAKE MONEY

Entrepreneurship teaches children they need to provide value to get something of value in return.

While some may argue that a pay-for-chores system accomplishes the same thing as entrepreneurship activities, these types of systems only teach kids to do what they already should be doing - not something that adds value to the lives of others.

10 Things which Youth can excel by taking up Entrepreneurship at early age

The late adolescence or young adulthood age (18-24 years) is one such age group when there are frequent changes and exploration in almost every aspect of life such as home, work, family, education, etc.

1. The responsibilities and understanding of the real-world start to make sense, along with a growing concern for the future.

2. This period of life is the most suitable for experimenting with career plans or business ideas.

3. As said by the famous entrepreneur Seth Godin, "There's no shortage of remarkable ideas; what's missing is the will to execute them."

4. First and foremost, you have got nothing to lose.

5. The only risk is a failure, which we all know is the first step towards success.

6. There will always be some lessons to be learned. Starting young allows making mistakes during endeavours and growing from them at a suitable pace.

7. Starting a business that suits your interest is always a bonus point.

8. Money and fame always come to those who follow their passion.

9. Even if you settle for a permanent job or business, the connections and experience that you have built over the years will help you in many places.

10. Will have time to ANALYSE - REBUILD - ESTABLISH themselves