Entrepreneurship: A Skillset for Kids That Schools Don’t Teach
Entrepreneurship is a dynamic blend of skills and attitudes that transform ideas into action, and action into success. The world’s most successful entrepreneurs didn’t simply stumble upon the ability to launch a business—they developed essential skills early on in life. These foundational abilities, like the willingness to take risks, thinking like a businessperson, and confidently presenting a product or service, are what set them apart from others.
However, it’s not just skills that make someone a successful entrepreneur. There’s also a unique mindset at play—an attitude that embraces the love for making money, the drive to change the status quo, and the constant search for better solutions to common problems. This combination of skills and mindset is often missing from traditional education systems, where children and young adults are rarely exposed to the real-world experiences that nurture entrepreneurship.
Why Kids Need to Learn Entrepreneurship Early
Most schools and universities focus heavily on academic knowledge and technical skills. While these are undoubtedly important, they don’t prepare children for the entrepreneurial world. Rarely are school curriculums designed to teach children how to take calculated risks, pitch ideas with confidence, or think creatively about solving real-world problems. Yet, these are precisely the skills that great entrepreneurs learn early in life and that form the foundation of a successful business career.
Imagine what could happen if kids, as young as elementary school, were taught how to spot opportunities, evaluate risks, and take bold steps toward creating something new. Encouraging entrepreneurial thinking early in life could lead to more young people escaping the conventional career path—or the rat race—and possibly building multi-million-dollar businesses. Even for those who don’t end up starting their own business, the entrepreneurial mindset can have a lasting positive impact, equipping them with tools to succeed in any career or life situation.
Entrepreneurship education, at its core, isn’t just about building businesses. It’s about teaching critical life skills, such as problem-solving, critical thinking, resilience, and independence. These are valuable in any field, and kids who develop them early are far better prepared to navigate the challenges of adulthood, whether they go into business or not.
How to Help Kids Develop Entrepreneurial Skills
So, how can parents, teachers, and mentors help kids develop the essential skills and mindset needed for entrepreneurship? Here are some practical ways to nurture entrepreneurial skills in children from an early age:
- Encourage Problem-Solving
Entrepreneurship starts with problem-solving. Encourage children to ask questions like, “How can I make this better?” or “How can I solve this problem?” It doesn’t need to be about business at first—get them thinking creatively about how to improve things around them. Whether it’s figuring out a faster way to do their chores, or organizing their schoolwork, encourage them to come up with solutions. This habit of thinking critically about problems and how to fix them is one of the core pillars of entrepreneurship.
- Teach Financial Literacy
Money management is a key part of entrepreneurship, yet it’s often a subject that’s not taught in schools. Start teaching kids about the basics of finance early. Concepts like saving, investing, budgeting, and understanding profit and loss can be introduced in simple ways. For instance, have them save a portion of their allowance for future purchases, or involve them in family financial decisions, like grocery budgeting. Real-world exposure to managing money will help kids develop the financial discipline that every entrepreneur needs.
- Promote a Growth Mindset
One of the most important attitudes an entrepreneur must have is the belief that failure is part of the journey. Teach children that mistakes and failures aren’t setbacks—they’re opportunities to learn and grow. The greatest entrepreneurs took risks, made mistakes, and persisted. Help your kids see that trying and failing is a natural part of succeeding. This growth mindset will encourage them to keep refining their ideas and taking risks, rather than playing it safe or fearing failure.
- Encourage Selling and Presenting
A huge part of entrepreneurship is communication—specifically, the ability to sell an idea or product. Teach kids the basics of pitching ideas, whether it’s persuading a friend to join in a project or convincing a family member to support a small venture. Let them practice presenting ideas to family or friends. This develops confidence and the ability to communicate effectively—skills that will serve them well whether they end up starting a business or not.
- Foster Creativity and Innovation
Innovation is at the heart of entrepreneurship, and it’s a skill that can be nurtured from a young age. Encourage kids to come up with creative solutions to everyday problems. Provide opportunities for hands-on learning, like building things with LEGO, doing science experiments, or participating in creative arts. The ability to think outside the box and innovate is what makes entrepreneurs stand out, and it’s a skill that can be honed through practice and encouragement.
Small Business Ideas for Kids
To really give kids a taste of entrepreneurship, encourage them to start small businesses. These ventures provide hands-on experience in running a business, managing money, and dealing with customers. Here are a few simple business ideas that kids can experiment with:
- Lemonade Stands: A classic first business idea. This teaches kids about customer service, pricing, and managing a small operation.
- Selling Handmade Crafts: Kids who enjoy making things can start a small craft business. They can sell their creations to family, friends, or at local markets.
- Selling their School Books: Selling the school books of the previous year is an ideal opportunity to learn to negotiate pricing.
- Pet Sitting or Dog Walking: For animal lovers, this is a great way to earn some money while learning about responsibility and customer care.
- Babysitting for Neighbors: Older kids can offer babysitting services, which teaches responsibility, time management, and customer interaction.
- Lawn Mowing or Gardening Services: For kids who like spending time outdoors, offering lawn care services is a simple way to earn money and learn about the value of hard work.
- Setting Up an Online Store: For more tech-savvy kids, setting up an online store to sell used toys, comics, or handmade goods is a great way to learn about e-commerce.
These small ventures teach kids valuable lessons in responsibility, customer service, and money management. Even better, they build the confidence that comes with creating something of their own.
Prepared Kids Will Learn Faster
By introducing entrepreneurial skills and attitudes early in life, we can equip kids with tools that will serve them for a lifetime. Whether they grow up to start their own businesses or not, the mindset of problem-solving, risk-taking, and creative thinking will give them a significant advantage in whatever path they choose. As parents, teachers, or mentors, we have the power to guide the next generation toward financial independence and a sense of ownership over their future.
Encouraging kids to think like entrepreneurs, even in small ways, fosters independence, resilience, and an ability to think critically—skills that will serve them well no matter where life takes them. And who knows? The next generation of game-changing entrepreneurs could be right in front of us, waiting for the opportunity to shine.
