Helping Your Children Become Entrepreneurs

We should encourage entrepreneurship spirit in our children beginning at a young age.  Children are very creative and having a dream to establish a business and be self-sufficient and successful are very positive goals.

My parents were small business owners.  I saw how they struggled to make ends meet when their business was established and then the benefits they reaped as the business grew.  After I graduated from law school and returned home to practice law, the seeds they had planted in me for entrepreneurship began to grow and I established my own private law practice.  My parents always encouraged me and my sisters to be self-sufficient and follow our dreams.

Later, as a mother with two sons, I hired them to work in my office to do general office tasks after school and on the weekends.  By working with me in that business environment, they were able to experience hands on training about what it is like to own your business and the dedication and hard work it takes to be successful.

Many children do not have the opportunities that I and my children had but parents can still open their children’s minds to the possible business opportunities that are available.   Children frequently ask for money so why not think about ways to help them earn money rather than just giving it to them.  If your children’s school has classes that teach entrepreneurship, encourage your children to take them.  If there are after-school activities and clubs centered on business ownership and development, again, encourage your children to participate.  

Of course, the typical business idea for children is the ubiquitous lemonade stand.  However, there are many websites that have ideas for children’s businesses.  At the end of my blog, I will give you a website with some very creative suggestions.

The key component is the parents’ involvement to help start and run the business, as children cannot possibly do it themselves.  Please do not start a business and then give up because you allow other tasks or activities to take precedence.   Many factors must be considered before starting a business with your children, including the time commitment involved, the availability of financing, and the general logistics of where and how it will be operated.  As the old saying goes, failing to plan is planning to fail.  

Please visit this website for some business ideas for children: click here

Working Parents: Have a Plan for Taking Time Off From Work When Your Children Need You

Whether your child has an illness or injury, or the babysitter could not make it, taking unexpected time off from work can be tricky.  When both parents work, this can cause unnecessary tension because of arguments about who is going to stay home and take care of the child.  To prevent this from happening, it is very important to develop a plan ahead of time with your spouse about unanticipated “at home” days.

One important consideration is who has the most flexible schedule on any given day.   It may be that an arrangement can be worked out where both parents  divide the caretaking day in half.  If one spouse has mostly morning meetings and the other spouse has them in the afternoon, you can both work around your schedules.  My late husband and I did this.  His schedule was generally more flexible than mine, since as a lawyer, my schedule could be extremely busy.  We worked it out though between us, always keeping our focus on what was best for our children.  Compromise is very important as it reduces the parents’ stress levels and aids in flexible decision making, which of course, leaves more time for you both to focus on your child who needs you.

Speak to your office manager or human services representative ahead of time about the protocol for working from home or having children in the workplace. Many companies allow a parent to work from home if he is unable to come to the office and some allow children to be in the office under special circumstances.

If you and your spouse are not able to do any of the above, research alternatives.  Often retired relatives or friends will assist for a short while.  What is critical is that you do not wait until you need assistance to find a solution.

Raising children can be filled with ups and downs.  Having a plan and being willing to compromise - those are the key elements to surviving a sudden at-home stay.  Life is always going to throw curveballs at you, but being proactive can make them a little easier to catch