This one’s to all my fellow visionary parents out there – Today, I want to talk about something close to my heart: crafting an entrepreneurial environment for our children.

If you’re like me, you’re not just raising children; you’re nurturing the next generation of innovators and problem-solvers.

Let’s transform our homes into living labs where curiosity meets opportunity, and playtime intertwines with problem-solving.

Involve Your Kids in Your Property Deals!

Let’s start with property – it’s not just about property; it’s a comprehensive class in economics, negotiation, and the art of the deal.

Here’s an idea: the next time you’re reviewing property listings or visiting a potential investment, involve your kids.

Ask them what they think a house could be worth, or how they might improve a room’s interior…

You’ll be surprised at how these discussions can help them understand value and investment from a young age.

Productive Screen Time

Now, onto a modern dilemma: screen time. Instead of passive consumption for entertainment, why not guide your children towards apps that offer lessons in economics or education in things they are passionate about?

Although I think we should keep away from screens being used for entertainment at all, if you have to then introduce them to games that inspire entrepreneurial thinking.

And how about a family budgeting app? Get them to manage their own ‘digital allowance’ to teach them the ins and outs of income, saving, and expenditure.

Daily Routines, Entrepreneurial Lessons

Even mundane routines can be entrepreneurial lessons in disguise.

Cooking can become a lesson in cost-efficiency and scaling (how do we double this recipe?), while gardening can illustrate the rewards of diligent, sustained efforts.

As they get older, (my oldest is 5 so we are just reaching this point), assign value to household chores, not just as a means of earning their allowance but to teach about quality of work and the basics of freelancing or running a business.

Creativity and Business Acumen Hand in Hand

Creativity is the seed of entrepreneurship.

Why not set up an ‘idea space’ where kids can jot down their inventions or startup ideas?

Hold weekly ‘family board meetings’ to discuss these ideas – it teaches them the value of feedback and the process of refining a concept.

Incorporate books on entrepreneurship into their reading list. Let’s make it as normal for them to reach for a book on young innovators as it is for them to pick up a storybook.

A Home That Teaches Business Basics

Imagine a corner of your home dedicated to ‘business play’ – a mock office, a crafting station, or even a role-play market.

It’s about creating a tangible connection between ideas and execution.

Use these spaces to simulate buying and selling or to develop a small family project that could turn into a real-life business.

My first business was buying and selling sweets at school! I used to trade anything I could for cash, trading cards, packed lunch, etc.

Things You Can Do to Create an Entrepreneurial Environment in Your Home

Now, to translate these ideas into an actionable list for entrepreneurial education at home:

• Involvement: Take your children along on your entrepreneurial journey, letting them learn through observation and involvement. From simple decisions like choosing office supplies to more complex discussions about business strategies, there’s a learning opportunity.
• Screen Time with Purpose: Guide your children to use technology not just for entertainment but for learning. There are numerous apps designed to teach financial concepts, coding, and even virtual trading.
• Rethink Routines: Challenge yourself to find the business lesson in daily activities and encourage your children to identify them too. It could be as simple as measuring ingredients or as intricate as planning a week’s menu on a budget.
• Creative Encounters: Designate a space in your home where creativity is king – a whiteboard for ideas, a craft table for prototypes, or a computer for research. Encourage your children to think, write, draw, and dream big.
• Practical Learning Areas: Set aside areas in your home where your children can simulate and engage in business activities. Whether it’s a small desk with office supplies, a workshop with tools for crafting, or a play store setup, encourage them to play entrepreneur.
• Financial Literacy: Financial know-how is a cornerstone of entrepreneurship. Involve your kids in family finances where appropriate. Start with a piggy bank but evolve to a savings account. Discuss the concepts of interest, investments, and even the impact of market trends on a budget. A weekly family ‘finance night’ could be a fun way to learn about money management together.
• Problem-Solving as a Game: Foster an environment where problem-solving is not a chore, but an exciting challenge. Present real-world problems and brainstorm solutions together. Not only does this teach critical thinking, but it also shows that problems are often the birthplace of innovation.
• Embrace Failure as a Lesson: In an entrepreneurial home, ‘failure’ is not a dirty word. Share stories of failed ventures and what you learned from them. Encourage your kids to try new things, and if they don’t succeed, guide them to understand what went wrong and what can be done better next time.
• Social Entrepreneurship and Responsibility: Teach them that entrepreneurship isn’t just about making money; it’s about making a difference. Get them involved in community service or start a family project that solves a social issue. This will instill the value of social responsibility.
• Mentorship and Networking: Introduce your children to role models. If possible, let them accompany you to business events or meetings with your mentors. It’s never too early for them to learn the art of networking and the value of finding a good mentor.

Remember, the goal isn’t to turn every child into an entrepreneur but to give them an entrepreneurial mindset that can lead to success in whatever career they choose.

This mindset is characterised by initiative, adaptability, problem-solving skills, and the resilience to overcome setbacks.

Creating an entrepreneurial environment at home is about more than preparing our children for a career; it’s about equipping them with a mindset to approach life.

We want them to see opportunities where others see obstacles, to think creatively in the face of challenges, and to have the courage to innovate and create value in the world.

As they grow within this environment, they’ll learn that entrepreneurship is not just about starting businesses; it’s a way of thinking that can lead to a fulfilling and impactful life.

So, let’s start today, with the small things.

Let’s talk to our kids about ideas, about money, about the world around them.

Let’s show them by our own example that entrepreneurship is a thrilling, rewarding journey. And let’s prepare them not just to succeed in business, but to lead in life.

I hope these insights inspire you to create an entrepreneurial environment in your home. Together, we can raise a generation of leaders, innovators, and change-makers. Here’s to our children, the greatest ventures we’ll ever embark on!

The Simpson ‘Growth’ Framework

In conclusion, I’ve come up with an acronym that we use in our household, that I would like to share with you and you can take away…pin it up somewhere that you see every day!

G – Guidance in Finances

Teach children the value of money, budgeting, saving, and investing. Make financial literacy a priority.

R – Resourcefulness through Routine

Transform daily routines into lessons on efficiency, time management, and resourcefulness.

O – Opportunity in Observation

Allow children to observe and participate in your entrepreneurial activities. Use your experiences as teachable moments.

W – Wisdom from Failure

Embrace failures as learning opportunities, encouraging resilience and perseverance.

T – Thinking Creatively

Foster creative thinking with a dedicated space for brainstorming and innovation.

H – Hands-on Experience

Provide practical, hands-on experiences that translate business concepts into tangible activities.

By following the Simpson “GROWTH” model, we as parents can cultivate a home environment that naturally instils entrepreneurial values and skills in our children.

God bless and all the best with the training of your children!

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