I wrote this post several years ago when my children were still young. Today years later I have reviewed each principle raised here and I can say with great satisfaction that they work.
Seeing in my teens an open mind for business, better money management skills, and even appreciation for their sales skills is very rewarding.
That is why I decided to make a few small tweaks to update it as I know it will be of great value to many. [Actualización 03/2020]
One of the most difficult and complicated things in life is reaching middle age and realizing that you do not have the financial condition that you really want.
Looking back and discovering that the years have passed and that despite having worked tirelessly you don’t have the financial solvency to give your family a better lifestyle, it can be very hard.
This is when we start looking for other alternatives to improve our financial situation. That’s when starting a business becomes a viable alternative. An alternative that is not easy either, but that nevertheless represents a light of hope to get ahead.
So, considering this common life scenario. Wouldn’t it be better to spare our children some of these ordeals and help them find a better path to financial freedom from their youth?
And I’m not talking about eliminating the life lessons that you will inevitably have to learn, far from it. But if to equip them with principles that help them build a better financial condition in their adulthood.
It is certainly a tough job that parents and teachers should work together. However, the important thing is to start at home and teach children that employment is not the only alternative. We must teach them to discover, take advantage of and develop their skills, talents and abilities to the maximum for their financial benefit.
Today I share with you some of the things that I would have liked to learn as a child and that today, I strive to teach my children.
6 Business Principles That Will Change Your Children’s Lives
1. Studying and having a job is not enough
The traditional system teaches us to study very hard and then get a good job.
And although this sounds cliché, the reality is that we are conditioned to overcome all “obstacles“from school to one day get a good salary that allows us to live well.
However, over time, that salary is not enough, especially when children arrive, debts and health decline.
The most recent effect shows us that companies even prefer to hire recent graduates despite having less experience, as they can offer them less substantial salaries.
So a good beginning is to teach children that employment is not the only option. They must learn that there are other alternatives, which, while requiring learning and taking some risk, may be more convenient in the long run.
2. Your talents and abilities are your greatest asset
Another of the great mistakes of education systems is to measure everyone equally and rate their ability according to these measurements. Being good at math or not shouldn’t make a difference. Having the ability to memorize more or less shouldn’t be either.
School tests are summarized to qualify as good or bad an answer based on the ability to remember certain information. There is little room for reasoning, for analysis, or to discover the abilities of each person and measure them according to their development.
Psychologists rightly say that there are multiple intelligences and they have identified at least 8 different types instead of just one. There is musical, verbal, kinesthetic, spatial, mathematical, intrapersonal, interpersonal and naturalistic intelligence. In such a way that we are all more intelligent in something.
So your children need to learn what their greatest field of intelligence is and support them to develop their skills and abilities in that line. Learning to recognize your talents and abilities are your greatest asset and it is what can best set you on the path to financial freedom.
So the next time your child mentions that he is attracted to music or acting, take advantage of those signals to encourage him on the path that will not only bring him greater satisfaction but also better possibilities of generating income.
3. They must learn to handle money
The proper use of money is one of the most valuable lessons we can pass on to children.
It is no secret to anyone that in business and in life, managing finances is essential and whether we like it or not, it directly affects our personal fulfillment and even the degree of happiness that we can experience at home.
However, part of our problems stem from the fact that at home we are rarely educated about the proper handling of money. And even less at school.
Even without realizing it, many times our children are educated in schools where the teachers are union leaders and dependent on the social “benevolence” of the government, which ultimately results in that they can only transmit what they finally believe: a noxious poverty mentality.
“Teach your children that money is not bad. The love of money and the misuse of it can be. But producing, generating income, building businesses, undertaking and having financial freedom is one of the most wonderful things you will ever experience. “
Teaching them that money can be useful to help many people is something positive and praiseworthy, because who best can help others is who has to give.
4. They must learn to sell
Selling is one of the most important skills children should develop in order to excel in life. And sales is one of those skills that can be learned.
Regardless of whether or not you like sales, it is something that your children should learn because it will open many doors and possibilities in whatever they do in life.
We are selling all the time. We sell ourselves when we are looking for a job, we sell ourselves when we are conquering our partner, we sell our ideas, our ideals and of course we sell when we want to close a business.
Great entrepreneurs started out as great salespeople. So people who know how to sell have a world of possibilities that opens up to them.
5. The importance of knowing how to communicate
Just as learning to use money can save you from many problems. Not knowing how to communicate properly can attract many of them.
Effective communication is a fundamental skill in business and in everything. Knowing how to express ourselves, transmit ideas, motivate a team, settle differences of opinion and even the gift of command, everything is related to the ability to communicate.
As soon as possible, enroll your children in one of those courses to learn to communicate, interact and even speak in public. Breaking down communication barriers early, increasing their personal security and self-esteem is one of the greatest gifts you can give them.
6. They must lose the fear of doing business
As your children grow, encourage them to do small businesses. With your supervision, of course, you will discover that this is a huge and wonderful source of learning that will help you pass on all this knowledge.
On one occasion my two young children insisted that I complete money for them to buy a video game. Of course, it would have been very easy to get a few dollars out of my pocket and continue shopping.
Instead, I suggested that I buy them two large bags of chocolates and sell them to raise some of the money they needed.
Without thinking twice, they loved the idea. And two hours later, they were in front of my house accosting passersby to offer them a couple of chocolates for $ 0.50 cents. Many people certainly were delighted to shop after asking what cause they were contributing to.
The valuable lessons learned had a lot to do with the ability to do something for themselves, giving them enthusiasm and enthusiasm. And better yet, breaking the fear of cold approaching some people by risking even receiving a NO for an answer.
In short, a lot to gain and little to lose. Finally, the money for the chocolates came from the same pocket 😉
Where to begin?
So, I conclude by encouraging you to start work on your children. Don’t expect them to learn everything from one day to the next (even we adults can’t do that). Also, don’t unduly pressure them to become big sellers or super businessmen.
They are children, teach them naturally at their own level, without technicalities, they should have fun and along the way learn that life can be conquered from different fronts.
They should feel that they are worth, not because of what they know, but because of who they are. A single lesson learned can save you a lot of stumbling and suffering. So start today, patiently, step by step.
I clarify that these principles have not been invented by me, far from it. Some I have learned in seminars, on the Internet, others in the wonderful books of Robert Kiyosaki and some others, as a personal life experience.
And how to start? Of course you will not be able to teach something that you yourself have not learned. So buy a book on entrepreneurship, learn about financial intelligence, about sales, or listen to my podcast on entrepreneurial mindset.
Do whatever it takes to learn these principles. And transmit with love, everything you can to your children.
Successes with this challenge!