How early should we educate our children the topic of entrepreneurship?
What do you feel when you read this blog post’s topic? Interested or could not be bothered?
I have been trying to inculcate the entrepreneurship mind and attitude inside to my children. I would like them to appreciate the difficulties of earning money. I want them to appreciate the value of money. I don’t want them to just purely study and getting good grades in examination. I want them to learn something extra. Something that can enrich themselves and put them ahead of their peers.
Since I am what I call myself a relentless entrepreneur, I want my children to know how to handle one or two businesses. I’ve tried and trained them to blog. You can see their blogs here and here. I hope they will love to write and earn some money from their blogs. However, the process seems to be a little bit slow. I need to think of something else or another strategy. I am planning to make this a long term project for them instead.
I have thought something just now and I will have a short discussion with my Ikhwan and Marsya after this. I hope through our brainstorming and discussion, we can come out with something that can train them about entrepreneurship. At least if they can make RM5 per week, I bet that’s a great achievement.
RM5 x 4 weeks in a month = RM20
RM20 x 10 months = RM200.
Then that RM200 will be deposited in lets say a unit trust account and have something like 15% annual return.
The cash will grow to be RM230 the next year.
How about repeating the entire process and targeting a higher goal?
Well, that amount of money can excite and entice them.
I can get them invest their money in bank or mutual fund. And they can see the money grow and work for them. Since Ikhwan is 11 this year and Marsya is 9 this year. They have a lot of potential provided I can coach them to be a good entrepreneur.
So, my answer would be if it is possible, train or educate our kids since as little as possible. Some will absorb faster while some slower. It depends on their interest as well. The process of becoming successful takes time. If a kid requires 10 years, maybe my son at the age of 11 now, can be successful and earn handsomely at the age of 21 which is not bad. Marsya maybe can be successful earning great figures monthly before reaching 20 years old.
I am not being totally materialistic here. This is something that I consider co-curriculum activity for them. An activity that will generate them money and source for living if they decide to venture into business. I also teach and guide them to pray together and recite Quran with on a daily basis (if there is nothing else going on). I want my kids to be well prepared for the world and the after world.
Well, that’s some sharing. I hope and pray everything will be smooth. Oh yea… I am not forgetting my other kids, Alya and Zara. They will follow their bro and sis as well when they are ready.