Author and Keynote Speaker | Entrepreneurship for Kids

Author and keynote speaker Sharon Lechter has served her life teaching others about money and is committed to teaching kids about entrepreneurship through her YOUTHpreneur and ThriveTime programs. But, what can you do now to help your own children? Dr. Isaura Gonzalez, guest blogger, explains:

All Too Familiar

“No, you can’t have that! We can’t afford it.” I am sure you have probably heard this phrase when shopping. Or if you are a parent, you may have uttered these words yourself in response to your kids’ begging for something they wanted. It’s a lesson in finances that some kids learn early: Those who have, can; those who don’t, can’t. This is an entrée into reality that can be taken a couple of different ways. Approached properly, though, you can guide your children to a different way of thinking.

A Different Approach

Here is an experience that occurred with my own children:

A few years ago, while walking through the mall with my 4 children then, 7, 6, 5 and 2, a conversation ensued about careers as career day was slowly creeping upon us. My oldest boldly declared, “Mami, I’m going to be a Neurosurgeon!” My youngest son announced that he wanted to be a paleontologist, after he becomes a plastic surgeon and a race car driver. My daughter, the youngest, squealed in delight that she wanted to be “just like Mommy!”

But, my middle son had not said a word. I asked him, “Julian, what do you want to be when you grow up?” He looked me squarely in the eyes and with bold confidence proclaimed, “A millionaire!” He proceeded to methodically tell me his plan on how he was going to merge his educational pursuit with his entrepreneurial spirit to make his millions. My oldest son then piped in and exclaimed that he wanted to be a millionaire, too!

Needless to say, that day laid the foundation for many talks to come about entrepreneurship and episodes of “Shark Tank”. My kids also got to know Sharon through my association with her and delighted every time they heard her voice on the phone. “It’s Sharon, and she’s talking about money!”

Having The Talk

I bring up this story not to focus on money as the most important thing in life. Clearly, there are priorities like family, education, and helping others that are all part of having a positive impact in this world. But, there is definitely something to be said about encouraging entrepreneurship with our children.

In my house, we simultaneously combine emphasizing the need for financial independence through building assets so that our children can have the money they need to live, do the work they want, and contribute to society.

Teaching kids about entrepreneurship shows them that they can have a world of choices that do not have to be adversely affected by economic circumstances beyond our control. Entrepreneurship should be taught as a choice that can lead to financial freedom and financial empowerment, not just a means to an end.

When will you start your conversation with your kids? My son, Julian, would say it’s never too early to start!