We would all love our kids to turn out like Richard Branson or Elon Musk, and what kind of education would be ideal for the entrepreneur? In this article, we outline a few aspects of education that would help to develop the skills required to create a business.
- Understanding Market Forces – This is a concept a child can grasp as young as 10; making the child aware that the only reason the ice-cream man comes by, is that many people love to eat ice cream in the hot weather. There are so many examples we can give a child about how markets work and sitting down together and using a few examples should plant a seed and your son or daughter will enquire and that will lead to a good understanding of how markets work and what drives them.
- Core Subjects – Your child should be studying at a quality school and if there are any weak subjects, book some online primary school tutoring and your child will ace those mid-term exams, with high grades in math, science, language and if your child struggles with aspects of math, there are online tutoring institutions. It is essential that a learner fully grasps a concept before moving on and extra tuition is a sure way to overcome obstacles, allowing for further learning.
- Encouraging Business Startup – If your child shows interest, you could help them set up an online business, something small and simple, which would give them an opportunity to create a website and do some real market research. While you should not force this on your child, if they show interest, then help them to pursue it; many young entrepreneurs started at a very early age, with help from their parents and they enjoy success in their teens. If you run your own business, then do introduce your child to the inner workings and if there are things they can do, encourage active participation.
- Ethics – It is important for a child to understand morals and ethics, as this will stand them in good stead throughout their life. All schools will have ethics and morals in their curriculum and the best way to help your child is for you to be ethical and moral, while always being open for discussion on any aspect of morality and ethical judgement. If, for example, your child showed a desire to enter law school, this should be encouraged, as with an interest in any sector or field.
- Marketing – An essential aspect to a successful startup, digital marketing is something you should introduce, as without a good understanding of digital marketing, your child will be at a disadvantage. Who knows, your child might develop an interest in digital marketing and may wish to pursue a career in SEO and marketing, which is a growing sector as digitalisation becomes global.
Encouragement and support are two things you should offer your child and if they exhibit entrepreneurial spirit, encourage and support their endeavour, which will empower them and motivate to continue learning more about life.