ENTERPRENEURSHIP IS NOT TAUGHT IN SCHOOLS, SO WHAT DO WE DO?

 ENTERPRENEURSHIP IS NOT TAUGHT IN SCHOOLS, SO WHAT DO WE DO?

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THE ANSWER? We Teach It!

Recently, my 10 year old had the following conversation with me:

Child: ‘Mummy, I have a feeling that I am supposed to be selling something’.

{Well, she has had a ‘feeling’ before and what she said came to pass (that is gist for another day), so, you should know I won’t joke with her ‘feeling’ this time around}.

Mummy: ‘Do you have an idea of what you are going to sell?’

Child: ‘I’m thinking something that people can eat or use. Yes, something edible or usable’.

I smiled with pride.

Mummy: ‘What edible or usable do you want to sell?’

Child: ‘Let me think about’.

Mummy: ‘Okay dear’.

Seconds later.

Child: ‘Mummy, I’m thinking something like chin chin’.

Mummy: ‘Okay. Someone told me about being a chin chin distributor yesterday. I will contact her’.

That was how her chin chin business started. I made sure I was her first customer; to encourage her. TODAY SHE HAS MADE CLOSE TO 50% PROFIT AND SHE IS JUST 10.

Though, I have been monitoring the sales, turn-over and restock. She has been so optimistic about the returns.

I was able to explain what capital is, what profit is, what it means to pour profit back into the business to get better returns or possibly expand the business.

Right now, she has learnt the importance of marketing to move sales.

The first few sales she made, she watched me market it, and afterwards, she marketed her product herself.

THESE ARE THE LESSONS I HAVE LEARNT

1. Since in this part of the word, entrepreneurship is not taught in schools, the onus is on the parents to teach it.

In my own case, my child decided to start a business herself, but in other cases, you may have to suggest it to your child. Tell him/her the advantages like profit, and the fact that our economy demands it. If you are able to analyze to your child what the return on investment will be, that child will definitely be interested.

2. Teaching entrepreneur to your child is also part of financial literacy. Every child has the right to financial literacy.

(If you want to know more about how to teach your child on Financial Literacy or you need someone to teach, contact me: check contact details at the end of the article. I have an age appropriate and detailed syllabus for this. Call me let’s talk).

3. Encouraging your children’s ideas as long as it is a good one will benefit you too in the long run.

4. I keep saying this, and I will keep saying it; LISTEN TO YOUR CHILDREN WHEN THEY TALK, CREATE TIME FOR THEM.

MAKE THEM FEEL THEY CAN MAKE DECISIONS THEMSELVES.

INFACT, INVOLVE THEM IN DECISION MAKING.

ASK FOR THEIR OPINIONS WHEN YOU ARE TRYING TO MAKE IMPORTANT DECISIONS. This builds their self confidence and ability to make constructive decisions on their own when the time comes.

Don’t shun them when their opinions are not useful at the moment, just share a better opinion with them instead. If you shun them, when they have beautiful ideas in future, they won’t share them with you for the fear of being shunned.

5. Be their first admirer, fan, investor, customer, encourager, cheerleader, counsellor etc. You can even become their marketer.

6. APPRECIATE THEM WHEN THEY DO SOMETHING COMMENDABLE. IT MAKES THEM DO MORE.

7. BELIEVE IN THEM, CHILDREN CAN SENSE IT IF YOU DON’T BELIEVE IN THEM. If you don’t believe in them, they’ll know.

8. Monitor them: their progress, their interests, their investments, their gifts etc. Guide them. Counsel them. They are your responsibility.

The comment section is yours. Kindly use it.

CONTACT ME ON: +2348025233308

Written by

Elizabeth Oduwaiye

Life skills/Youth Counsellor.