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5 Lessons your Kids will Learn by Starting a Business
Posted by
admin on
February 27, 2008
Kids need to be kids and enjoy their time as children. But, at the same time, as they
get older, they also need to learn to make money and function in our society as
responsible adults.
Oftentimes, they get a job at a Burger Joint, where they learn how to listen to a boss,
and how to work with others, but then they may also have to give up some
extracurricular activities, study time and time with family. Not terrible things, but
enough of a challenge that many families are helping their kids start their own
businesses.
Why? Let’s compare the lessons your kid is learning working at a burger joint verses
starting a business.
1. Responsibility.
Burger Joint: Yes, it teaches responsibility. You need to show up for work and do a
good job or your boss and co-workers will get mad at you.
Entrepreneur: Teaches you responsibility as well. You need to work hard or you
won’t get paid.
2. The Value of a Dollar
Burger Joint: You learn that time is money.
Entrepreneur: You learn that creativity, ownership of responsibility and hard work is
money.
3. How to Market Yourself
Burger Joint: Teaches you how to fill out an application and go on an interview to
market yourself. You do this once and then you’re done.
Entrepreneur: You have to market yourself and your business on an ongoing basis if
you want to make any money.
4. Customer Service
Burger Joint: Service with a smile or your boss may reprimand you.
Entrepreneur: Service with a smile or you don’t get repeat business and your income
drops.
5. Banking Skills
Burger Joint: You learn how to collect a paycheck and how to deposit it into the bank.
Entrepreneur: You learn how to budget for advertising costs, taxes, and expenses
and weigh them against your profits. You learn to deposit your income into the bank
and write checks to cover expenses. You learn how business works.
As you can see, both options have benefits. As for which option you’ll choose?
That’s up to you and your child.
Joelle Davidson welcomes you to http://www.showkidsthemoney.com where you’ll find
plenty of free information to help your kids start their own businesses.
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