5 Things Your Children Will Learn From Starting A Business

Children must be allowed to be children and enjoy their childhood. At the same time, as they grow older, they must learn to earn money and function as responsible adults in our society.

They frequently get a job at a Burger Joint, where they learn how to listen to a boss and work with others, but they may also have to give up some extracurricular activities, study time, and family time. Not bad things, but enough of a challenge that many families are assisting their children in starting their own businesses.

Why? Let’s compare the lessons your child learns working at a burger joint to starting a business.

1. Accountability.

Yes, a burger joint teaches responsibility. If you don’t show up for work and do a good job, your boss and coworkers will be upset with you.

Entrepreneurship also teaches you responsibility. You must work hard or you will not be paid.

2. The Cost of a Dollar

Burger Joint: You quickly realize that time is money.

Entrepreneur: You learn that hard work, creativity, and ownership of responsibility are all valuable assets.

3. How to Promote Yourself

Burger Joint: Shows you how to fill out an application and conduct an interview in order to market yourself. You only need to do this once, and you’re done.

Entrepreneur: If you want to make money, you must constantly market yourself and your business.

4. Customer Care

Service at a Burger Joint: Smile or your boss will reprimand you.

Entrepreneur: If you don’t provide service with a smile, you won’t get repeat business and your income will suffer.

5. Banking Knowledge

Burger Joint: You will learn how to collect a paycheck and deposit it into a bank.

Entrepreneur: You learn how to budget for advertising costs, taxes, and expenses, and then compare them to your profits. You learn how to deposit your earnings into a bank and write checks to cover your expenses. You learn the ins and outs of running a business.

Both options, as you can see, have advantages. Which option will you select? That is entirely up to you and your child.

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