There are many things that people of my generation wish they had been taught at school or in more depth by their parents and these include business skills and money management.
This is why I try to instill certain skills in my children as they grow up and encourage them to learn stuff at school when it is available to them.
Something I have been keen to teach them is business skills. More and more people are starting their own businesses and I definitely think that starting your own business will be something that many of their peers will be doing when they grow up. So it is important they learn these skills at a young age.
One such way to do this is by learning via online money games.
Idle Megamall Empire has proved a great hit.
It is a game where players build a tall megamall which consists of many floors. However you have to organise your workers to check goods and collect funds. You can upgrade more and more as funds come in. As you reinvest your earnings, you can upgrade not only your earning potential but your operational input. Not only that but you can sell to an investor group and start again from scratch!
My children also really enjoy the Twitchie Clicker but this might come from having a content creator for a parent! It is a game for aspiring content creators for YouTube or Twitch. They can play by clicking repeatedly to generate active income and can unlock different factors along the way. The higher your subscriber count reaches, the more that you can unlock and you can even find ways to earn passive income.
These games have proved a great hit with the kids and help teach them important skills that I may not be able to teach them otherwise and I cannot guarantee that school will teach them. However here are a few other ways that you can teach them some business skills:
Help Them Recognise Opportunities
You hear all these stories of when massively famous entrepreneurs such as Alan Sugar and Richard Branson were young and how they started from scratch with nothing but saw an opportunity and took it. It is important to help our children recognise these opportunities when available to them as you never know what it could lead to.
Whether it is a gap in the market at school by selling sweets at break time or offering some handyman services at the weekends, there are bound to be countless opportunities available to them in their formative years.
With that in mind…
Help Them Set Things Up
As we mentioned above, they may sell sweets at school or offer their services at the weekends. They may need some help setting these enterprises up so be prepared to aid them. Always be their first customer and offer advice where needed.
Teach Them About Finances
Financial literacy is so important but so many children and even adults are not financially literate at all. Kids are never too young to learn about finances so encourage them to save and maybe even have them track their own bank account via their purchases and where their money comes from. By leaving them to take some accountability, they will certainly come to learn a lot about both their finances and finance in general.
How do you teach your child good business skills?
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