Children honed in entrepreneurship skills early enjoy competitive edge

One must be endowed with the required abilities to successfully manoeuvre through difficult scenarios and emerge triumphant. These abilities are taught through entrepreneur courses or imbibing entrepreneurial skills. It gives you the capacity to solve issues, think creatively, take risks and bring about innovative solutions by boosting one’s acumen

Today's world is evolving at a rapid pace, and advances in innovations are occurring across many fields. In this ever-changing climate, it is imperative that we teach our children essential entrepreneurial or problem-solving abilities at an early age so that they can be on track in their chosen careers. Entrepreneurship does not just foster clever mindsets but also enhances personal skills, inventiveness and, of course, financial gains. Given the importance in the hugely competitive world, entrepreneurship education is gaining traction in schools as a means of influencing job prospects and economic growth. As a result, honing an entrepreneurial attitude in children and adolescents has become critical and profound.

We live in a world where information and skills must be constantly updated. One must be able to modify the necessary skill sets to handle future complexities at workplaces. One must be endowed with the required abilities to successfully manoeuvre through difficult scenarios and emerge triumphant. These abilities are taught through entrepreneur courses or imbibing entrepreneurial skills. It gives you the capacity to solve issues, think creatively, take risks and bring about innovative solutions by boosting one’s acumen.

Here are five reasons why you should start teaching your child about entrepreneurship at an early age:

1) Encourage creativity: Creativity is crucial and relevant across spheres, including entrepreneurship. Entrepreneurs need it to achieve breakthroughs and to enhance efficiency and productivity. Parents might use this opportunity to adopt entrepreneurial activities that will help their children's inventiveness.

2) Interpersonal skills: Communication has always been one of the most crucial soft skills, and it is much more vital in today's business environment. Your activities or connections with others are just as significant as having a degree. Instilling these talents at an early age will sustain them for the rest of their lives. They can brave and conquer all challenges that crop up along the way. As they develop in their business journey, children are forced to deal with a variety of individuals. This interaction and collaboration with people from a variety of backgrounds teaches children vital interpersonal skills.

3) Educating about financial literacy: Children's lives are already oriented towards money-based activities, particularly when it comes to going out shopping with their parents. As parents, one must pay attention to this issue because it will influence the child's future spending habits. One has no idea what one’s child could try to buy with the money. Is it for the better or for the worse? That is why one must plan ahead of time for their children's financial education. Moreover, it will make economic sense in the long run.

4) Significance of time management: The success of an entrepreneur is dependent on how effectively stringent deadlines. As a result, emphasizing the value of time is critical. As parents, one may set small tasks to their children with time constraints and reward them for meeting the deadlines.

5) The value of plan B: Mentoring children about the ups and downs of life is an important element of their growth and development. Whatever the scenario, one must support them through both successes and failures, and provide them with a Plan B in case they fail.

Entrepreneurship is a way of life that we must instill in our children. An entrepreneurial mindset is not limited to a certain group of individuals; anybody with it may profit in one manner or the other. Furthermore, the future workforce is a compelling incentive for us to begin preparing our children today.

It is also one of the few topics that contribute to a student's overall growth. Moreover, the current generation requires it more than their predecessors ever did.

The one sure thing is that irrespective of what your child becomes, acquiring entrepreneurial skills will put him/her in the driver’s seat. So, give them a head start and teach them about it from an early age.

(The writer is Chairman of Global St. Angelo’s Group of Companies)