When you are pondering about what it takes to be an entrepreneur, do not overlook the business savvy of kids. They are not always consciously striving to climb the ladder of success. However, the journey from toddler to teen leaves a trail of tested developmental data. Here we feature the eight areas of ‘kids’ mindsets:
#1 – Negotiations
Children of all ages are masters of the art of negotiating. Watch a child engaging in the bargaining process. Kids learn early on that everything has subjective value and might be considered trade worthy in certain circumstances. Take stock of your own negotiating inventory.
#2 – Compromise
Reaching agreements results in more rewards than stubbornly wallowing in stalemated disagreements. There is nothing defeating about walking away with a gain. When you want two jumping frogs for your slingshot, keep in mind that frogs are not so easy to catch. One frog or no frog? It is that simple.
#3 – Resilience
Kids seldom take ‘no’ for an answer. When they hit a wall, they walk around it, climb over it or set up a catapult. They do not quit until they have exhausted every possible way to achieve their goals. They are driven with passion, determination, ingenuity and optimism. You need all of those to be an entrepreneur.
#4 – Resources
It’s important to know who has the best, the most, the cheapest, the best delivery time, etc. Kids look through junkyards, yard sales, ‘free’ ads and under rocks. That’s all aside from keeping a list they’ve acquired through the grapevine of those who can offer the best fish bait, fireworks, homework help and bike repairs.
#5 – Funding
When more money is needed, it’s important to be able to turn to more than one funding source. Kids already know this. When one parent turns out empty pockets, they shamelessly hit on the other parent. Benevolent uncles and friends with generous allowances might be willing to offer some temporary financial relief.You don’t know if you don’t ask.
#6 – Real World Social Networking
You can never have enough contacts. Most kids join activity groups to be with other kids. As the social circle widens through introductions, there is an increase in invitations. The cousin of the friend of the kid on the wrestling team knows the lady who is in charge of auditions for the play you’d love to be in. Hmmm…just maybe as we grow older we make less time for social groups like sports, performances and hang outs. There could be a lot of great new info we are missing out on from one another if only we made more time for social networking in the real world, not just online.
#7 – Promote Yourself
It’s okay to talk about your talents, goals and successes with pride. The power of word of mouth advertising can start with you. There is a difference between bragging and exuding supreme confidence. Just be sure that you can deliver on your claims. As you show others what you can do, word will get around.Those who are in need of your talents will find you.
#8 – Dream Big!
While it’s necessary to be realistic, it’s also important to project a positive outcome. It’s okay to want a pony someday even if you currently only have room for a dog house.Success will allow you to address such minor details.
As you can see from the above tips, it’s sometimes worthwhile to look back as well as to look forward. Remember when you were a kid and unstoppable! Now the risks are greater, the challenge is bigger and the potential rewards make it all worth it. Like all kids, you practiced and honed your business skills. Back then, it was part of being a kid. Now it’s all a part of how to be an entrepreneur in the adult world.