Through April TaylorFounder – Jr. Moguls
Almost two decades ago, the World Bank gave a grim warning about the future of the work. In one Publication about youth developmentThe international organization said that traditional jobs-for-life career paths were no longer reliable. It noted that teaching entrepreneurship of young people was the way to overcome the work -related barriers that young people would encounter in the near future.
Nowadays the warning from the World Bank proved to be true. Young people are approaching a labor market that is radically different from that of the past. Artificial intelligence and other technical progress cause widespread displacementAnd economic volatility makes it a challenge to reliably predict which jobs can be more profitable.
Entrepreneurship gives young people the skills they need to compete in today’s rapidly changing labor market by teaching them to be resilient and creative leaders who are not afraid to take risks. And these skills have never been so critical in the modern labor market.
What children win when they grow in entrepreneurship
Success, with both young people and adults, is based on mindset. Traditionally, young people entered the work world with a mentality of the employee.
Employees put their confidence in the organization for which they work, trading their time for money and waiting for the organization to offer them opportunities for growth opportunities. When problems appear, employees wait until the organization provides solutions.
The mentality of the entrepreneur is radically different compared to comparison. Entrepreneurs create opportunities for themselves, instead of waiting for others to offer them, by finding solutions and using them as a springboard for generating income.
Entrepreneurs also perceive failure differently. Instead of seeing it as a setback, they see it as a teacher, with every learned lesson that leads to a greater potential for success. By embracing failures as part of the growth process, entrepreneurs become more comfortable when taking the type of risks that results in business success.
The entrepreneurial mentality is exactly what today’s youth needs. It offers them a much more stable basis than every position they will find in today’s job landscape. While they learn and practice entrepreneurship, they get confidence to take risks, running where necessary and ultimately seeing themselves as a valuable source of solutions.
It is also important to note that entrepreneurial skills are valuable, not only for those who are aimed at starting their own company. When employees do their work with the mentality of an entrepreneur, they become more valuable for their organizations. As the American Chamber of Commerce Explains, entrepreneurs bring resilience and innovation to the workplace by introducing new ideas, troubling failure and being skilled in problem solving – all qualities that can help the business community to new levels.
How parents and educators can encourage entrepreneurship
The good news for parents and educators is that children are natural entrepreneurs; They flow over from creativity and don’t think about the risk. From a young age they have the fearless nature needed to see and seize opportunities. Unfortunately, parents often try to train children away from those qualities because of safety, when instead they have to channel those characteristics to entrepreneurial opportunities, which start as early as possible.
Parents can start by encouraging the curiosity of their children and giving them a safe place to play with ideas, free of judgment. Instead of criticizing or rejecting the things they dream about, they guide children in ways to bring those things to life.
However, parents must be careful to stop shortening their children. The goal should support them if they look for the answers for themselves. Instead of being able to get the boss who enables them to move forward, help them to see how they can be their own boss and get the power to move forward themselves.
As children go to school, teachers have to start early to show how basic skills in the real world can apply. Elementary age children can learn about saving and earning, while high school students can be taught how a company works. They can then investigate in high school how inflation, taxes and credit game in entrepreneurial efforts.
Although many states have started making financial literacy of the standard high school curriculum, their efforts do not offer the empowerment needed to encourage children to become entrepreneurs. By the time children get to high school, they have already settled in many financial habits. If they already have the employee’s mindset, the basis of financial literacy will learn little to move them in a direction that will help them take control of their financial future.
The changes that take place at today’s workplace are a wide range of challenges, but they also offer opportunities. To make the next generation thrive, they must be taught the kind of skills that will enable them to take advantage of those opportunities.
Entrepreneurial children know how to bounce back from failure, turning and looking for new solutions. Feeding entrepreneurial skills in children positions them to become the innovators of tomorrow, so that new ideas are marketed with the confidence needed to realize them.
April Taylor is a versatile entrepreneur, speaker, financial coach and the visionary founder of Jr. MogulsA platform that is designed to cultivate the next generation of self -assured, business leaders. Through her work with Jr. Moguls is committed to teaching other families the financial literacy and entrepreneurial skills needed to create sustainable wealth for future generations.
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