This area is for the attendees of the Preparing Kids for Entrepreneurship discussion.
Thank you for coming and learning about ideas and strategies to focus on for preparing your kids for entrepreneurship. This is a resource to reflect on the talk and discussion we had.
What matters in life is action. I shared my experiences and insights to help you ask the right questions and build a framework to think about how to prepare your kids for entrepreneurship.
There are so many different directions you can go to tailor an education and make the idea of entrepreneurship a path that is both attractive and feasible for your children. To help refresh your thoughts, here is a recap of the talk:
Recap of Preparing Kids for Entrepreneurship
Remember Grandpa George from Charlie and the Chocolate Factory:
“There’s plenty of money out there. They print more every day. But this ticket— There are only five of them in the whole world, and that’s all there’s ever going to be. Only a dummy would give this up for something as common as money. Are you a dummy?”
Recognize the path of value.
- Talent – The world is divided by talent
- Everyone is not an entrepreneur
- Identify your kid’s talent
- Develop your kids to be sharp not well-rounded
- Help your kids understand their strengths and develop them
- Choices – Stand out, don’t fit in
- How much do you want to be worth? Read the Donald Trump Story
- Do you want to be a brand or a commodity?
- Check out Elance
- It’s a list
- You are being compared and reduced
- You lose leverage
- Check out Elance
- Do you want to make things or make deals?
- Help your kids learn selling to write their own ticket
- Practice standing out consistently
- Work – learn responsibility and failure
- You are the boss or have a boss
- Learn failure and iteration
- What it means to be in the new economy
- Your kids should be focused on creativity and problem solving
- Communication skills – speech, debate, selling, persuading
- Help them take small risks with their own money and work.
Entrepreneurship is more sensible than ever. What is risk? One stream of income.
Actions To Consider
We covered a lot of information and you can take specific steps to help you and your family on the entrepreneurial journey. Here are a few:
- Learn about your child’s and your strengths. Click here to learn about the strengths testing I do with my business clients. It is critical for success. For a child or parents, you can order the test and the consulting fee will be a reduced $50 totaling $110 for a test and consulting. This is special pricing just for the attendees of this talk to help them on their journey.
- Sign up for an account at elance.com. Study it and put your shingle out. See if you can get hired for a job.
- Learn how to set up a professional services business and get going. Contact me for a consultation to explore. I am setting up a reduced price consultation of $50 for an hour meeting online to help you get started with clarity on what to do. This is 20% of what my standard business clients are charged and is for helping out you and your family to have concrete next steps.
- Join up for a speech and debate course to learn how to argue and persuade effectively.
- Provide a platform for your kid to start the journey of communicating and positioning. My son, Gabe, is helping to set up other kids with their own sites and showing them how to do it at a very affordable price of $100 for his own business. Contact me to find out more. This will help a business idea to get started and be a valuable part of educating a child on how to grow an idea into a business.
- Visit Apex College Counseling to connect with a counselor about the college path that would best suit your child’s bent and aspirations.
These are just a few ideas. The important thing is to learn by doing and continuing to build momentum in the direction of entrepreneurship.
Resources to Help You on the Journey
I have shared concepts from my own experiences as an entrepreneur building companies for myself and my business customers. I also do quite a bit of reading and writing on the subject. You can always subscribe to my blog to receive valuable strategies.
Also, here are some of the books I would recommend to reinforce the dialogue and further think through strategies for entrepreneurship:
Learn principles and the journey of a computer science major and how he learned to work with both technology and business deals. He is young and shares his learnings from 100 blog posts.
We all know Mark Cuban from his time on Shark Tank and ownership of the Dallas Mavericks. He shares his story and lessons along the way as a regular guy trying to figure things out and applying himself to learning relentlessly to keep connecting the dots for the right opportunity.
A blunt and raw read that helps you think about systems, passivity and creating businesses that cash flow quickly. The paradigm works well to filter out the emotion of many businesses that are not worth the time.
Michael Masterson shares how a business progresses through four different stages and what the dynamics are for each stage from early startup to maturity. I would focus heavily on phase 1. Selling is critical and dwarfs the other priorities.
This is an important book that the whole family can talk through. Kiyosaki of Rich Dad fame is classic in his simplistic style to break down complex issues. Learn the four types of cash flow affect your lifelong earning and leverage. They are not all equal. If you can overcome fear, you can step into the higher opportunity quadrants.
Lisa Gansky illuminates great business models built around high tech platforms merged with underutilized resources. Combine them and you can create businesses like Zip Car or Amazon that centers around transactions and reducing friction points.
This is a great read on specific tactics and strategies to build marketing systems that will promote you. I do this for my clients, along with many more sophisticated systems and strategies. If you can build an audience, then the game of selling becomes much more easy.
Austin Kleon is a great artist who gets the point across how to integrate knowledge and share it professionally. Very important for someone who is trying to establish their brand and find their voice.
Startups are not about perfection. It is about continuous failure and iteration. There is too much uncertainty to have a rigid plan. Learn how to approach the process with a framework that has empirical success.
Great stories of entrepreneurs that built businesses from hard work, ingenuity and knowledge of their specific markets. The inspiration alone will help you get started. It doesn’t cost much to get going.
Ebook with Further Strategies
For those that donated to the talk, I will be delivering an ebook with more specifics to help you get going. I will let you know when this comes out and will send it out to you.
I am sure you have a lot of questions. I hope the speech and discussion served to catalyze your thinking. Entrepreneurship makes sense for the age we are in and ensuring our kids are ready makes their education more focused.
If you have any further questions, feel free to fill out the form below. I would also appreciate any comments or thoughts on how this impacted you. Thank you.