Owning a business is the career of the future.
It is essential for parents to teach their children about business from an early age. By developing their business acumen, one can give them a valuable head start.
Explaining in simple terms what a business enterprise actually is can sometimes be quite challenging. The foundation of most businesses is a product that is sold, whether it is purchased, manufactured, or even grown. However, the concept of business extends far beyond this, and it is important to convey it to children in a practical way.
In a previous Sarie magazine, I once came across an interesting article that went more or less as follows:
Koos began teaching his child in primary school to think like an entrepreneur. When Kobus asked for pocket money, he was given a few packets of seeds to start a vegetable garden. He had to water and care for it, as his father taught him that it was his capital growing there.
Before long, he was strong competition for the vegetable shops in town. His enterprise flourished, and every cent was saved—something that requires discipline at such a young age.
Kobus expanded his business further by selling boerewors rolls, using a small cart he had purchased himself.
Today, he is a successful property developer who says he learned valuable lessons in his childhood that no university degree could have prepared him for. By being exposed to business early in life, he created employment for himself.
The stock market is another way parents can expose their children to business. Start with imaginary money. Let the child choose, “buy,” and monitor shares. Set goals and participate together.
You will be surprised by the results. A child’s business sense develops quickly.
It is also important for a child to learn that the business world is not always smooth sailing. The most successful businesspeople are those who get up more times than they are knocked down.
Educating your children is not an easy game. Parents must become involved and take responsibility for their children’s future.