Kids are expensive, so why not put them to work as soon as they can walk? Oh right, child labor laws. But in all seriousness, it's never too early to start instilling a sense of entrepreneurship into your little one. Even if they don't end up starting their own business one day, the can-do attitude will also make them an excellent employee to have on board at any company. So how does one go about encouraging this skill in young children? Here are a few ideas to help get the ball rolling.
1. The Classic Lemonade Sale
We've all seen that kid outside in their yard with a little booth selling lemonade. This can be a quick way to earn a few bucks, especially since the parents usually shell out the cash for inventory and supplies. It's always nice when the profit margin is 100%. But this concept of selling physical goods to locals can be extended beyond mere lemonade. They can sell anything at a booth in their yard. Don't live on a busy street corner? They might be able to sell things at their local craft fair or farmer's market. If your child is a little older (third grade and above), I would start to have them buy their own materials. If they are crafting something, have them keep track of their hours so they can determine the best price for their labor. If they are renting out a booth somewhere, they will need to subtract that cost from their bottom line as well.
2. Yard Sale
Stuff accumulates over time. We sometimes hang onto things thinking we will use them or maybe we know we won't use them but we don't want to donate them because we think we can make some of our lost investment back later at a yard sale. But we are adults with busy lives, work, kids, and spoiled dogs to take care of. Who has time to organize a yard sale? Your ten-year-old does! What a great activity for them to declutter their own things and motivation for you to declutter yours! They can set up the booths, advertise, and put on the price tags. Of course, you will need to supervise, but they can run most of the show. If you're not particularly worried about the prices of anything, have them determine their own, look up retail versus secondhand prices, practice haggling, and make change for customers. They will have a ball doing your spring cleaning for you. Let them keep the money they earn or let them just keep a commission.
3. Gardening
Gardening is so useful. Your little one can learn about different plants, plant growth, healthy foods, different soil types, helpful and harmful insects, and so much more. But you can take their growing experience to the next level and turn their gardening adventure into a legit business. Any excess plants they grow can be brought to the local farmer's market or sold to friends and family. And think about other ways to collect from nature as well. If you have a larger yard and are allowed, let them raise chickens. This is something that a kid as young as six is able to handle with some adult help, and kids as old as ten can do it mostly on their own. They can sell the eggs at the market. What about bees? We learn in elementary school about the importance of bees, but wouldn't it be amazing if your student could have their own bees? While beekeeping is a bit pricey to start, you can make a handsome profit from selling honey and any crops you have will also benefit from this new hobby.
4. Writing
Is your little one a writer? It is easy to publish ebooks through Kindle Direct Publishing. I would recommend this idea for an older child, twelve and up, because they do need to learn how to correctly format their book and will need to use the computer to type it. They can also add illustrations if they want using a digital drawing platform. Lots of learning to be done as they figure out how to publish their own book. Once your author has finished their book, they can publish it for free on KDP including physical copies if they want. There are other websites that also allow for free publishing of digital content including Etsy and Teespring. They can also try blogging such as on Medium. In order for them to get paid on most of these sites, you will need to make the accounts in your name but they can manage them. They could try reaching out to their local newspaper and seeing if they could write an opinion piece. They can also try writing to literary agents if they really think their book is worthy of publication. This is a great way to help them practice dealing with rejection. Remind them that the author of Harry Potter was rejected tons of times before selling millions of books. As an author myself, I have set a new goal to get 100 rejection letters this year. That means I tried 100 times which is better than not trying.
5. Art
Does your child love drawing. They can experiment with turning their art into a business. There are lots of ways to make this happen. They can sell their art. Maybe organize a local art show with other parents and have students raise money for a good cause by selling their best artwork. I think it is a good learning opportunity for them to judge their art with a critical eye. Which pieces would someone actually want on display in their home? They can also sell their art as digital designs. You can help them to create a store such as through Teespring and they can learn to place their designs on teeshirts, bags, notebooks, and more. You could order a few samples and have them sell them at a local craft fair.
6. Crafts
Speaking of crafts, is your child always making things? They could try their luck on an online platform like Etsy. You will need to make an account in your name but they can sell the things they make and practice running an online business. They can also be in charge of shipping the items, though you should probably double-check everything is done correctly. If they keep the inventory very small, this should be a manageable activity.
7. Neighborhood Helper
If your child is older and you know your neighbors well, you might consider letting them mow lawns, clean houses, or care for younger kids. This is a great way to make money and sometimes can help them to learn what they like and don't like in a job. I started babysitting when I was twelve and knew then that I loved caring for children. I also spent my teenage years cleaning houses and knew that was not my life's calling. But with both of these experiences, I was able to learn about setting prices for my time and I made a very nice profit.
8. Chores
While chores and allowance can be a great way for your kids to learn responsibility and help them get a little side cash while they are at it, there is often very little initiative behind these acts. See if there is a way you can encourage them to turn chores into more of a business hustle. When I was younger, I was asked to rewind some videos after we were done watching them. If that sentence made no sense to you, Google "VHS movies." Instead of just rewinding those, I decided to take all the movies in the house, rewind them, relocate them to my bedroom, alphabetize them, and charge a rental fee to anyone who wanted to watch them. I also made them sign a contract saying they would return the video in the same condition or be charged a fee for me to rewind it for them. Thus I became the keeper of the videos. I'm probably the reason Blockbuster went bankrupt.
How can you encourage your kid to do the chores with gusto instead of with dread? Do they need to make their bed? Can they do an amazing job, take photos, advertise their turn-down service for others in the household, and make others beds for a profit? Do they need to take out the trash? Can they sort through the trash for the recycling and turn in the aluminum at their local scrap metal yard? Do they have to wash the aforementioned spoiled dogs? They can set up a pet grooming station, name it and make a sign, and tie a little bandana around the dog when done. Maybe they will do such a good job that your friends will want them to wash their dogs as well. Will this work every time for every kid? Nope. Will your teenager suddenly love cleaning their room? I mean do teenagers love anything? But it might help one night when your seven-year-old doesn't want to clean up their legos.
9. Inventions
Encourage your learner to get inventing. Help them with the concept of brainstorming ideas and using power tools, but don't give them any ideas. Your adult mind is probably less creative than theirs anyway. Remember that all great inventions solve a problem. What problems do they see in the world that they want to solve? Children have invented things, and they can too.
10. Performing
Actors, singers, models, oh my! Does your child love to put on a show? Taylor Swift was 12 when she wrote her first song! Many actors and models start quite young. Encourage any creative pursuit they have, and help them to find ways to let that talent out. Can they sing at their local football game? Is there a talent show? Can they be in a play? If they are older, help them find these resources themselves. I think there can sometimes be a stigma with letting kids perform. But I don't see any harm in letting a young child on stage if that's where they want to be, but remember not to push anything on them. And allow them to quit if it turns out it's not for them. But sometimes that's what they love to do, so why keep it from them?
11. Construction
Get that kid building! Woodworking, building flower boxes and making cement walking stones, I've seen kids as young as two working with power tools with adult supervision of course. Let your little one handle real tools and use them to make their own toys. When they are older, they might learn to love it so much that they start their own business. I once bought a walking stick carved by a young boy who was selling them at the craft fair. I have also seen parents selling their daughter's homemade planter boxes on Facebook Marketplace. This practical life skill will come in handy when they are older even if they don't grow up to be a carpenter.
12. Bake Sale
Kids love to do bake sales but they don't often organize them. Add an extra level to your local bake sale by having your child advertise and organize it. Let them bake the goods and practice displaying them so they look scrumptious to the customers. Consider materials and time when setting prices. Remember that you can sell other things in this manner as well. Maybe get several parents together who want to encourage their child's inner CEO and you can all have different kinds of booths. Soap-making is another hit with kids. Pottery, jewelry making, the world is their oyster. Oh, they can sell oyster shell wind chimes! Okay, I'll stop now.
Remember that with entrepreneurship, as with most learning, failure is a huge part of the process. Creativity is also key. So try to say yes when you can and let them make tons of mistakes. Did they set their prices too high and no one wants to buy their items? Did they not make large enough signs so no one turned up to the event? Dealing with failure builds resilience which is what true entrepreneurs need. It's their business, let them experiment with it.
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