Almost all kids have entrepreneurial skills. They all have the same goals– to have more “baon” when they go to school.
When I was in Grade 3, I also wanted to have more baon. But instead of forcing my parents to give me more money, I thought of ways to raise money myself.
Instead of taking the cab, I would walk to the nearest bus stop and take the bus home. It saved me a great deal. From what I saved, I bought a bag of candies and sold it to my classmates.
The teachers in school also became my loyal customers. I sold them “walis tambo” which my grandfather made. I also helped my grandfather sell flowers at Plaza Miranda during All Souls Day.
My parents also nurtured my entrepreneurial streak by asking me to help them sell “nilagang saba” after school.
Through these little businesses, I was able to build up my savings. My young mind naturally developed the discipline required to be an entrepreneur– no one forced it on me.
Our parents raised us in different ways, and what we learned from our parents we tend to impart to our own children. Parents, by nature, want to shelter their children and provide them everything they want. But when we expose our children to life’s realities at an early age, they can become more independent and responsible when they grow up.
- Teach them the value of earning
It is better to let your children realize that in order for them to have something that they want, they have to find ways to earn it. When we give them everything they ask for, we end up spoiling them. Reward your children for something that they have accomplished to let them understand the meaning behind each accomplishment.
- Get kids to do chores
Making them do household chores helps them become more responsible. This also teaches them to be diligent and organized. These are values that can be very helpful for them in the future.
- Expose them to diverse groups of people
Let them express themselves in front of a crowd. Some kids may be uncomfortable being around a number of people, but if we allow them to just stay inside the room all the time, they may grow up insecure.
- Let them discover the realities of life
Children know what is going on around them even at a young age. As parents, what you need to do is to provide more information so they can comprehend a certain situation. For example, if you went to a restaurant and got poor service, you don’t mask that incident by not telling your children what is truly going on. Your children should be able to determine what is right or wrong so that they can analyze the situation and come up with a solution.
- Let them think
Children are naturally inquisitive. Some parents just shut their children off when they are bombarded with so many questions. But instead of ignoring them, parents should find time to answer their questions. Parents should also ask them questions in a manner that helps them think more about whatever interests them. Also, letting them think out of the box enables them to be more creative.
- Let them join community service.
When children are exposed to different people, especially those who need help, they become more compassionate and nurturing. They will slowly realize just how fortunate they are, and through this, they learn how to help others.
- Encourage them to start their own savings.
If your kids have a lot of toys that they have already outgrown, you may encourage them to have a garage sale. Let them decide how much they can sell each toy. But instead of letting them spend all money they earned from the sale, teach them to set aside half of it as savings.
These are just a few things we can teach our children. We should also remember to inspire them, instead of forcing them.
(Armando Bartolome is known as the Philippines’ Franchise Guru, a business mentor to numerous micro entrepreneurs who are now themselves big names in the industry. This article is reposted with the author’s permission and was previously published on The Business Mentor column posted by ABSCBN News. For questions and more information, you may contact Armando "Butz" Bartolome by email:firstname.lastname@example.org or on Twitter @philfranguru. His website is www.gmb.com.ph)