5 Reasons You Should Equip Your Child With Business Skills Early

Editorial Team

Gone are the days when our youths are provided for even before they finish university, now every parent must teach their children to sail the ship of their own destiny to its destination, equip them with business skills.

There is no job security anymore, the major talks these days centre around how our youths finish school and wait forever to get a job, redundancy and economic uncertainty pervades our land and talks of economic crisis never cease.

Which is why you have to teach your child to be independent, think for himself and make decisions on his own, and if your child wants to chart the course of his destiny, allow him, and here are the reasons why;

1. Low cost of failure

Taking risks and failing is okay for the young ones, they have the time on their hands to fail and learn from their mistake, also they don't have any financial obligations like adults which may make their failure grave. Early failure is allowed, as failure is seen as part of the learning process.

2. A good time to apply early lessons

When they start making decisions early in life and fail, they'll be able to apply the lessons they've learnt early on in their decisions as they grow. The earlier your child stumbles the better for them as it prepares them for bigger challenges.

3. Benefits of early failure

When children make decisions and fail early in life, they learn the benefits of failure and they become strengthened from being faced with problems. Because even if they fail, the lesson learnt from these experiences will give them invaluable lessons which will come in handy in the future.

4. Youthfulness

The young ones are full of confidence, energy and creativity and even though they can be brash doing things without thinking it through, it's a tool as they'll be able to use in reaching for their dreams. Also, they are bold and ready to take on new challenges, and as they do they'll learn from their experience.

5. Leveraging the early network

If you teach your child to network early on, he'll be able to keep in touch with most of his friends from primary school to tertiary whilst they can assist each other later in life.

So as parents we have to assist our young ones to plan and execute their plans. For every idea that comes to their mind, help them organise it but do NOT do everything for them, and if they fail or win they'll learn lessons such as perseverance, humility, patience, and other virtues which will be useful to them.

For your young kids, you can bring out things you don't need in the house like old books, toys and other unused things so they can make it into something else or put them on for sale and make profit. Let them learn to trade and achieve financial goal. Also, let them plan, price and negotiate price.

And don't be surprised if by age 13 your child has gotten the idea of buying things and selling them to her mates when you teach your child to be good entrepreneurs they'll learn the drill and reap the benefits early in life.