How Innovation and Entrepreneurship Can Help Teens Succeed in Life
If you have ever come across success stories of entrepreneurs today, you will notice that many of them have learned about innovation and entrepreneurship at a young age. Adults aren’t the only ones who can run successful businesses today.
Some of the most prominent young entrepreneurs across America are barely older than 13. This goes to show that there’s no need to wait until adulthood to start a business. As parents, it would be beneficial for your teen’s future if you could hone the entrepreneurial mindset early on.
Why Are the Teenage Years the Best Time to Start a Business?
You may be wondering how in the world could you get your teens to start a business. This is a concern when it seems they have no motivation to do anything. Perhaps it’s time you make them realize that aside from the obvious perk of earning extra cash, running a small business may be easier than they think.
High school kids today are generally at the peak of their creativity and passion. They have a lot of stored energy that can be directed toward an entrepreneurial venture. Theirs is the age when ideas for innovation come easily.
Here are other reasons you might want to share with your kids to convince them to start putting up their own business.
1. They can use technology to their advantage.
Now is the time that even toddlers know how to work their way around gadgets. High school students are undeniably very adept at using technological devices to make their lives easier. They are also very good at navigating their way around the internet.
Thus, it would be a piece of cake for them to use their technological know-how to help manage their business.
It is also very likely that as they become more proficient in using technology for their business, they would stumble upon new and innovative ideas. This, in turn, enhances their creativity and resourcefulness that will come in handy during their adult years.
Innovation is a crucial aspect in most of today’s entrepreneurial ventures because of the abundance of new businesses being launched every day.
2. Starting a business today is easier than before.
Starting a company can now be as easy as joining Facebook or Etsy. Through these platforms, it is easier to start selling and buying stuff. They could start with their e-commerce business even with limited resources. Even if they do have to raise a certain amount of money to start a business, the startup cost is significantly lower than before.
The best small business to start with is something that caters to your teen’s strengths and interests. This way, they won’t easily become discouraged if things don’t go their way at first. If ever they do stumble along the way, commend them for their efforts and say that there’s nothing wrong with trying again.
Think of simple home business ideas that your teen can manage without much difficulty. This will help them gain the confidence to handle the business by themselves later on.
3. Teens today are more open-minded and willing to take risks.
Most children today are not hesitant to experiment and try out new things. One of the most desirable teen entrepreneur characteristics is having the courage to act on a novel idea.
Of course, there are always risks involved with this, but this is where your wonderful parenting skills could come in. You should be there to lend an ear when they need to run ideas by you. They would also need to hear some sound advice that will guide them in making prudent choices.
In time, your teen will instinctively know how to distinguish a good decision from a bad one. This is one the most crucial life skills for teens that entrepreneurship can provide. Kids will need to learn that making bad choices can lead to unwanted consequences.
4. Putting up a company will develop confidence and resilience.
The entrepreneurial life is fraught with disappointments and failures. It’s not very different from real life.
If your teen manages to learn how to deal with negative situations in their lives properly, they won’t resort to coping mechanisms that are detrimental to their being. They will not shy away from unfamiliar situations, and they will be able to face them confidently.
5. Your teen’s social network expands when managing a business.
Teens fully understand the benefits of connecting with peers and other people. They are less likely to feel alone and insecure when they develop bonds with others. This may not always be true for everyone, but it does lessen the chance that your high schooler will harbor feelings of low self-esteem and sadness.
Many successful teen entrepreneurs have positively taken advantage of their social network to advance their businesses. Without a doubt, the connections that your child make while running a business will prove to be valuable in the future.
The life of an entrepreneur is not an easy one. However, if teens learn business skills at an early age, it will be easier for them to transition to the adult world. Now is the perfect time to let your teen learn about innovation and entrepreneurship to prepare them for the future.