5 Lessons Your Kids Will Learn by Starting A Business

5 Lessons Your Kids Will Learn By Starting A Business
By Joelle Davidson

Kids need to be kids and enjoy their time as children. But, at the same time, as they get older, they also need to learn to make money and function in our society as responsible adults.



Oftentimes, they get a job at a Burger Joint, where they learn how to listen to a boss, and how to work with others, but then they may also have to give up some extracurricular activities, study time and time with family. Not terrible things, but enough of a challenge that many families are helping their kids start their own businesses.



Why? Let’s compare the lessons your kid is learning working at a burger joint verses starting a business.



1. Responsibility.



Burger Joint: Yes, it teaches responsibility. You need to show up for work and do a good job or your boss and co-workers will get mad at you.



Entrepreneur: Teaches you responsibility as well. You need to work hard or you won’t get paid.



2. The Value of a Dollar



Burger Joint: You learn that time is money.



Entrepreneur: You learn that creativity, ownership of responsibility and hard work is money.



3. How to Market Yourself



Burger Joint: Teaches you how to fill out an application and go on an interview to market yourself. You do this once and then you’re done.



Entrepreneur: You have to market yourself and your business on an ongoing basis if you want to make any money.



4. Customer Service



Burger Joint: Service with a smile or your boss may reprimand you.



Entrepreneur: Service with a smile or you don’t get repeat business and your income drops.



5. Banking Skills



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



Entrepreneur: You learn how to budget for advertising costs, taxes, and expenses and weigh them against your profits. You learn to deposit your income into the bank and write checks to cover expenses. You learn how business works.



As you can see, both options have benefits. As for which option you’ll choose? That’s up to you and your child.



About the Author: Joelle Davidson welcomes you to http://www.showkidsthemoney.com where you’ll find plenty of free information to help your kids start their own businesses.



Source: www.isnare.com

technorati tags:family, business, kids

A good article in Businesssweek on getting the family business going...

Although this article focuses more on getting adult children into a family business, the tips he suggests can easily be applied to starting a business with kids still in the home.

Thanks to Timothy Habbershon and Businessweek for a great article:

The Talent Bank At Home To sell kids on the family biz, treat them like pros Even though family businesses often struggle to find talented employees who will stick around, many entrepreneurs don't realize they have exactly the talent they're looking for in their own children. Each spring, I listen to undergraduate and graduate students trying to decide whether to join their families' businesses. It's not just a sense of obligation that is driving them. Many really want to work with their parents, but worry that challenging and rewarding work isn't an option in the family business.

Read the rest of this article here...

The Talent Bank At Home

technorati tags:family, business, biz, children

Here's a DVD course you might be interested in to start....

Finally! A course specifically designed for FAMILIES to teach them how to start their own business! Want to start a small family business, but do not know where to start? Finally, there is a biblically based course on DVD geared for families and teens! This eight-hour information packed course will take you by the hand and guide you through the obstacles of starting a business the whole family can be involved in. Click on the lilnk below for all the details: Starting A Family Business!

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Just to kick off this blog! :-)