In our last post, we discussed something very important.
In today’s world, Entrepreneurs are contributing more and more to the growth of an economy. From small startups to large multinationals ventures, entrepreneurs have taken over the business market.
An entrepreneur is an individual who is a born leader, someone who thinks out of the box, a risk taker, who does not work for anyone rather he starts his own venture.
He starts off with a small business and takes the responsibility of running it on his own. From basic idea to planning to investment to the beginning of the business, all is done by himself. He is a creator and designer as well.
If your child has all these abilities and the sparkle needed to become a successful entrepreneur then you should facilitate him emotionally, physically and financially as well.
As a parent a good way to start off is to get some knowledge about the subject like does your child need entrepreneurial education? What are the important characteristics that your child should have in order to become an entrepreneur? As a parent what should I do for my child? Do universities offer any courses in the field?
This post aims at answering your questions regarding entrepreneurship.
Does your child need entrepreneurial education?
Although entrepreneurial education isn’t a must and many entrepreneurs haven’t taken any such courses, yet it is one of the highly recommended fields of study for those students who wish to pursue entrepreneurship as a career.
Entrepreneurial education basically helps your child in developing creative thinking, looking at the challenges and opportunities in the business world, understanding the risks and technicalities involved in doing business and finally learning the necessary skills needed to run a successful startup.
You need to keep in mind that although your child is talented he or she still needs to polish his or her skills and learn the procedures and mechanisms which the business world demands.
Such an education assists your child in setting achievable goals, sensible deadlines, and proper allocation of resources and most importantly it gives him or her sense of running their business in line with their long-term goals.
In short, Entrepreneurial education should be considered as a necessary tool needed for a successful venture and should therefore be given consideration to by the prospective candidates.
What are the important characteristics that your child should have in order to become an entrepreneur?
Let’s suppose your child is very creative, thinks out of the box and is a risk taking individual. You instantly assume that your child has all the traits that are required to become an entrepreneur.
But you might want to think again. There is a high probability that your child loves arts and would like to pursue a career in it. In order to make sure that you have a little entrepreneur or someone who wishes to become one you should look for the following traits.
Passion and Perseverance
If there is nothing that can stop your child from achieving his or her goals and if he or she is persistent about it then you have a successful entrepreneur just right there.
Starting a new venture in today’s world of brutal competition is no joke and it demands high levels of love for the job and perseverance.
Let’s be honest here quitters cannot survive in the challenging business market. If your child has a hunger of winning, then entrepreneurship is what he or she needs.
Desire to Learn
In the process of setting up a business, from planning to execution every step requires extra attention. There is also a chance of committing mistakes.
An individual in order to become an entrepreneur should have a desire to learn. Learn from his or own mistakes, from competitors and from successful businessmen.
Entrepreneurship demands innovation so at every step one needs to have a strong desire of learning and accepting new ideas.
As an entrepreneur your child needs to be organized that is he or she should believe in making a road map and then sticking to it.
Being organized also points out towards the need of planning which is of utmost importance for entrepreneurs.
Although your child’s role as a leader is needed to become an entrepreneur yet he or she should be a team player. They should learn to cooperate with others especially those working for him.
You as a parent need to remember that although your child has great ideas, the financial support and the plan to start a business, he or she needs to work with others who will help him in running, representing and strengthening his or her business.
If your child loves to work in teams as a team leader who helps others, who is innovative, who learns from others and who remains persistent in achieving his or her goals, then entrepreneurship is what they should pursue.
As a parent what should I do for my child?
As a parent you also have a role to play in shaping your child’s career as an entrepreneur. You should instill in your child all the characteristics mentioned above.
Starting off by providing good quality education, you need to be teaching hard work, fostering passion, instilling purpose and channeling perseverance in your child.
You need to motivate your children at every step. Even if they commit some mistakes let them learn from them and do not stop them. If they think out of the box, don’t consider them crazy or don’t try to shut their creativity. Let those little angels fly and explore their passion.
Do universities offer any courses in the field?
Yes, many universities around the world offer courses in Entrepreneurship. Even top universities like Stanford and MIT are offering elective courses to studies who wish to study Entrepreneurship. These courses are geared at developing managerial, leadership and organizational skills amongst individuals.
Now that you are aware of the importance of entrepreneurial education for your little entrepreneur, you should consider enrolling him or her in one of the courses of his or her preference.
Check out our next post.