Why is it important to cultivate an entrepreneurial mindset in your kids? It is because all the signs point to the rising likelihood that they’ll need it more than previous generations did.

The nature of work is evolving rapidly, with the ranks of “contingent workers” swelling fast. It’s been estimated that just five years from now, more than 40% of the African workforce will be freelancers, part-timers, contract workers, or otherwise self-employed. Regardless of what your kids grow up to do, they’ll need an entrepreneurial skillset to do it well.

Parents have a huge influence on a child’s work ethic and habits.

“Teach them everything you wish you had known growing up.”

Juliet Obi

How to help your budding entrepreneur

If you’re an entrepreneur, explain to your kids how your business works—the same way you’d explain other things they don’t understand. Share how and where you find business opportunities. Create a family game encouraging them to look at situations and imagine what it would take to make improvements.

Talk about what you’re currently learning to improve yourself and your business and why that matters. Demonstrate the importance of never-ending self-education by living it. Let your kids see you reading books, listening to podcasts, taking courses, or doing research, and involve them in it. Explain what ideas and skills you’re picking up and why they interest you.

Be candid about the reality of the day-to-day journey, no matter what business you’re in. The impressive start-up stories we often hear about—quick, massive rounds of funding and lucrative exits—can give kids a false impression of the long, incremental, arduous process of starting and running a business.

Kidpreneurship starts from the home

A kidpreneurial curriculum is rarely a part of the formalized early education, so exposing your kids to kidpreneurship will likely be a process you begin at home. Some say its never too late, but I say its never too early to introduce your kids to “kidpreneurship”.

Some of the best products came from wild ideas, so don’t put your parental brain limitations on your kids, let them dream big.

If they have big dreams and ideas, show them how to formalize those goals with a paper and pencil, Focused goal setting teaches accountability

Entrepreneurs think differently. Coach them that when they fail or have set-backs, they should always bring a set of optimistic eyes to the issue to find opportunities.

Teach them business structure

Encouraging your kids to write their first business plan now may sound extreme, however, a simple outline will help them learn structure.

Support your kid’s start-up dreams by investing in them. Don’t just give them money, assign amounts for extra jobs your kids could help with around the house. Go over the parameters just like a client and at the end, review their service. Start them off early with the business process in a fun and exciting way.

If you have gained some insight from this post, please leave me a comment. We are in this together!