Why Teaching Business Skills to Your Children Pays Off

I never imagined that teaching business skills to my children would pay off…

What started as simple curiosity and a desire to make money from an adorable 7 year old, turned into a lifetime of passion and a practical way for him to make a living. Today, Alexis is 18 and he is not afraid to invest $4,000 into a new Amazon venture, buy the car he wants or buy food for a homeless person in need. Teaching him business skills has paid off in more ways than one!

Why?

Because at an early age, he explored the flavors of entrepreneurship and he liked it. Better than any vice, this exploration has led to him always having money to take care of many needs and tons of wants. Investing into his entrepreneurial education has paid off in the following ways:

  1. Money management- Alexis learned the skill of managing his money- saving, spending and investing. He manages the language and the actions behind each one. He values every dollar for what it is because he knows what it takes to make it. He takes meditated risks and wisely considers each action and consequence. He learned to multiply money and most importantly… he is generous with those in need, knowing he can always make more. Money comes and money goes… and then it comes again, because he has the tools necessary for growth.
  2. Personal responsibility- Because he chose to “work for his money,” Alexis had to meet deadlines and use his time wisely. When his friends were playing, he was building the latest marshmallow gun and when others were playing video games, he was packing his latest products. His level of personal responsibility skyrocketed and he took ownership for every action in his life.
  3. Confidence- Being so young and having $100 bills in his Spiderman wallet meant he had purchasing power… which means he knew he had worked for it… which means he knew he was willing to do hard things. All this added to the knowledge and people skills he acquired, meant his confidence boosted 1000% in comparison to other children his age. He had to make decisions and when a person makes decisions his confidence gets strengthened.

I recently shot a video with Alexis, where he shares a brief insight into his journey as a serial entrepreneur. Watch it below and let us know if you have a budding youngpreneur and what you do to encourage their journey.

Alexis’ Hammock on Amazon

 

***We are starting a series of posts on young entrepreneurship and what you can do as a parent to instill and inspire your children with business skills. Make sure to follow us!

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