CHICOPEE, Mass. (Mass Appeal) – Encourage your kids to develop an entrepreneurial mindset at a young age! The truth is, you are never too young to run your own business and here to prove that is Mychal Connolly, Chief Marketing Office for the Cambridge Entrepreneur Academy.
Here are some benefits to learning Entrepreneurship at an Early Age:
- Learning about business at an early age gives a child a good business foundation. Once kids know how businesses work they are more likely to own a business or be a more productive employee because of their business knowledge.
- The earlier a child starts to earn some money and save some money, the better chance they have to have money saved for college. Kids really have very little to spend their money on. And when they earn the money on their own they a less likely to spend it. They can save for college or to start a bigger business as a adult.
- A kid gains self-respect and respect from others when they earn money. A strong sense of pride comes with earning your own money. Kids love being able to buy things they want with the money they earned.
- Learning about business helps with direction in choosing a college and course of study. There are so many parts to business. Kids tend to find out what they are good at in business while running their own. They can gain greater skills in their passion zones in college. They will go into college knowing exactly what they want to study and why and how their degrees will benefit them.
- Their are so many skills to learn about being an entrepreneur, so start learning them early. Entrepreneurship and business is like a sport, the earlier you get in the more fundamentally sound you will be.
- Running and owning your own business has a greater potential for a much higher income then working for someone else. Kids learn this early because the businesses they operate normally pay out greater than their allowances. My sons at ages 7 & 8 made $154 in two days. Their allowance is $20 each.
- Learning how to problem solve is not just a good business skill, it is a good life skill. An entrepreneur is someone that solves a problem, and gets paid for their solution. Business kids learn how to solve problems most kids their age never face. This gives them a critical thinking and problem solving skills that can benefit them throughout life.
4 Types of Businesses Kids Can Run
The everyday or a few days a week – Trash Removal & Cleaning Service, Baby Sitting
The once a week job – Delivering the Sunday Paper
The seasonal job – Starting Business During School Vacation
The job you do when you want to do it. – Lemonade Stand