Cathy's Purposeful Life Journey Blog: Are You Setting Your Kids Up for Failure by Not Allowing Them to Become Business Owners?

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Are You Setting Your Kids Up for Failure by Not Allowing Them to Become Business Owners?

June 29, 2017

By Syndicated Columnist Cathy Harris

This article is an excerpt from "How To Take Control of Your Own Life: A Self-Help Guide to Starting Your Own Business" (Series 2) at http://www.AngelsPress.com

- available as an e-book and paperback. This book is part of a 3-part empowerment book series written by author Cathy Harris.

It's time to redefine the game of business ownership. We can no longer operate like we did in the past. Young people need to understand that their parents are under attack by a society that is seeking to "break their spirits" and turn back the hands of time. Therefore, they must seek to become self-sufficient by becoming a business owner.

Reasons Kids/Young Adults Should Open Their Own Business

1. They should want to grow up into a responsible adult.

2. They should want to grow up into a great humanitarian.

3. They should want to help their family out financially.

4. They should want to pay for their entire college education.

5. They should want to improve the conditions in the community.

6. They have no other choice because of the economy.

Why Should Young People Get Involved With a Business?

1. To give young people hope.

2. To stop crime in the community.

3. To stop young people from going to jail.

4. They don't have any other choice because of the economy.

Why Will Our Youth Succeed at Business Ownership

They have the energy and vitality to make this work.
They don't have the baggage that adults have.
Adults will support young people.

What Do We Need to Make This Work?

Mothers, fathers and other relatives of young entrepreneurs to get involved. Find a business mentor in your family or find a business group that caters to youth entrepreneurs.
For educators, the community and other businesses to get involved.

Everyone especially children have some type of "talent" or "passion", which is of value to others. My business book "How To Take Control of Your Own Life: A Self-Help Guide to Starting a Business"(Series 2) is an easy-to-read self-help guide, which can be read by 12 year olds and above. The book will lead anyone through the ENTIRE PROCESS of building and growing their own business by using their own skills, talents and passions.

It is time for us to think of children in new ways. They have talents and passions that make them unique. When parents reject established norms and embrace their sons and daughters unique talents and teach them practical business skills -- that will be the time for them to realize the key to their child's financial success.

We need to get to kids at a young age, when it is easiest for children to take in new concepts and information, before 'life patterns' are established.

Parents encourage their children to take piano lessons, dance lessons, play basketball, football or other sports -- when they are young, to gain skills that they will enjoy and carry into adulthood. Why not give them the same opportunity to acquire financial skills that will pave the way to an affluent and secure future?

In states like California, kids are entrepreneurs! They sing, dance, act, and so on -- and their parents manage them. So if you can't find a job or don't have what it takes to start a business, then allow your children to become business owners and bring in an income.

Our Kids Must Be Safe

We send our kids to school every day and many times we don't know anything about administrators, teachers, janitors, lunchroom workers, the coaches because we think the education system have already conducted "extensive" background checks. However, time and time again we are learning this is not the case.

As a youth business owner, the number one goal of parents should be to allow them opportunities so they can excel in bright futures. After all don't they want their kids to do better than them?

But at the same time, it's extremely important to keep them out of harm's way. So can we assume that safety is the real reason why parents are stopping their children from becoming business owners? I don't think so! I think parents are just simply uninformed about the many opportunities that exist for our kids today.

Small children are naive and can be easily conned. Even older children can be vulnerable to those with bad intentions. Sure we need to teach them to have good judgment, while steering them away from door-to-door sales to strangers and from business locations unsuitable for children, however, we can't allow our fear of strangers to keep our kids from reaching their full potential as successful future entrepreneurs.

Legal Requirements

One of the main questions many parents have about youth business owners are legal requirements. Each state has different requirements regarding children and businesses. Minors cannot enter into business contracts or get lines of credit without an adult "co-signing" a legal document.

If you have anymore questions about youth entrepreneurs, you can visit your nearest office of state government to find out the legal regulations for children, who want to start businesses.

Traits of a Future Entrepreneur - Stubborn, Talkative, Bossy Kids Make Great Entrepreneurs

Whether you realize it or not -- you can teach your kids to become successful future entrepreneurs. Many of our kids already have vital and significant traits for future entrepreneurs -- but we look at these traits as "negative" not "positive."

Some of the traits include being stubborn, talkative, bossy, shy, hyperactive, day-dreamy, show-offs, etc. These kids are not bad -- but instead it's a good chance they possess skills and traits of future entrepreneurs. So we need to stop thinking they are bad kids!

Pinpoint Their Talents

No matter what age, from 6 to 18, your children's interest and behavior are clues to their talents and by learning how to identify their gifts and helping them match their abilities to business opportunities, you are starting them on the road to a satisfying and productive future.

The goal is to sit down and put a list together of all your kids' behavior traits -- then their interests. Their hobbies and interests are also usually things they are good at, which is another reason to pay close attention to them -- because the sky is the limit on what they can achieve.

Write everything down! Some kids are very busy with all sorts of hobbies, but most kids have two to three things they do most often in their free time. Look at everything you see! Concentrate on channeling their natural talents into businesses that will earn them money and give them the confidence they will need to succeed.

What to Stop Doing Now!

Stop or don't start giving your children allowances. Children need to learn as soon as they are able that money is not a gift, but it is compensation for work down, and that earning their own money gives them the freedom to spend it any way they like. The goal is to help your child understand that work is nothing more than exchanging talent for money.

Clearing Up Myths When It Comes to Youth Entrepreneurs

By buying into the business myths in this country about work and careers, many parents miss the opportunity to groom their children for financial success. No one has explained to parents that the most common path to success is not what most people think - getting into the right college or landing a good job, but is instead developing their children's unique talents to create thriving businesses.

Myth Number 1: A College Education is the Key to Business Success: In some cases, going after a college education can actually put you four years behind the other runners in the race to achieve. Many of the newest, most successful businesses in our country were founded by people who learned on the job, rather than in college. So don't think your children can't become successful entrepreneurs, because they don't attend college.

Myth Number 2: A Job With a Good Corporation Will Secure Your Child's Financial Future: Surely it's not your goal to send your children off to Corporate America. Corporate America is now a world of mergers, downsizing, and outsourcing. For those who survive and remain employed, the corporate workplace itself is often unfriendly and difficult.

As employees struggle to do more with fewer resources, deal with cutthroat office politics, and work longer hours - many are producing a product which they may or may not be proud of.

Further, all the while they are filling someone else's dream or bank account. Is that what you want for your child? Sending them off to Corporate America is like watching them march toward financial disappointment.

Myth Number 3: Children Should Not Have to Worry About Money When They're Young: We need to stop telling our kids they don't need to worry about money because they are young. Many parents unknowingly discourage their kids beginning at an early age from believing in their abilities, when it comes to money.

This line of thinking make children believe that money is "scary," which is exactly what too many adults think and why they're so uncomfortable with their own finances. It's very important to teach your child to respect money, but don't teach them to fear money -- so let's take the fear out of money!

Teaching your children that they are capable of earning their own money, is one of the most positive and empowerment gifts you can give them. If you are ready and eager to help your child, let's change the way you think about money and work so that you can be one in the growing number of parents, who guide their children to entrepreneurial success.

Your children can even hire their siblings and friends to work for them because family businesses are truly the only way to create "true generational wealth." Your children will thank you forever!

How To Get a Mentor For Youth Entrepreneurs

A successful mentor provides two things to a young entrepreneur: 1) inspiration, and 2) practical help. You will be the first mentor to your children because you love them and want to see them succeed. However, if you are unaware of how business works or if you don't feel comfortable mentoring your child, that's fine.

Let's look for mentors amongst your family or friends. If that doesn't work, you can conduct research and find a business group or Chamber of Commerce that caters to youth entrepreneurs.

The goal is to find a mentor in their field or endeavor and in business in general. These people can save you a lot of time, effort and money. They may not be smarter than you are.

They may have simply already made the mistakes you're getting ready to make.

Inspire Your Child

The goal is to keep inspiring your children. Let your children dream like they dreamed when they were young about Santa Claus. This is when you find out what makes your child tick - their interests, their dreams, what they are good at, what they like or do not like.

You might think you know your child because you live under the same roof, but you will be surprised at what you discover in your time together as you begin to led them to think and talk about themselves.

Our kids have tremendous gifts that should be encouraged. Their self-confidence will grow, and most likely, their schoolwork will improve as well. Let's give them something to be proud of -- a business of their own.

To learn more on how you or your children can build and grow their own businesses read the book "How To Take Control of Your Own Life: A Self-Help Guide to Starting Your Own Business" (Series 2) at AngelsPress.com.

- available on Amazon.com, BarnesandNoble.com and Smashwords.com - as an e-book and paperback.

Cathy Harris is an Empowerment and Motivational Speaker, Non-GMO Health and Wellness Expert, Self Publishing and Business Coach, Advice Columnist at DearCathy.com and the author of 24 non-fiction books including 2 business books. She is available for lectures, seminars and workshops and can be contacted through her empowerment and publishing company, Angels Press, P.O. Box 19282, Austin, TX 78760, Phone: (512) 9097365, Website: http://www.CathyHarrisInternational.comEmail: cathy@cathyharrisinternational.com

What Communities Can Do to Help

Save Youth

Open recreation centers back up.
Open tutoring and learning centers in the community.
Allow parents and other volunteers to come into schools like years earlier and teach kids how to read.
Extend library hours and stop closing libraries on Friday nights -- even if it is game night.
Make sure Chamber of Commerces and other business networks cater to youth entrepreneurs, but BAN Network and Multi-Level Marketing (aka Pyramid Schemes) businesses.
Hold community parenting classes for mothers and include personal development classes.
Open 24 hours day-care centers so parents especially mothers can go to work or start businesses.
Allow kids to form businesses to teach families how to grow food again.
Form weekly or monthly shadowing/mentoring businesses where youth can follow adults for the entire day.