Teaching your kid to be an entrepreneur gets them ready for the real world.
“Chances are your kid is going to grow up to an entrepreneur or in sales,” said Mike Weinstein from KTAR’s It’s Business Time.
“It’s a great opportunity to teach them the life lessons,” he said. “The good feeling you get when you succeed at a sale, what it feels like to be rejected, how to look somebody in the eye, how to shake their hand.”
Kids can miss those lessons if parents just buy all the raffle tickets or give them money instead of bake sales or even lemonade stands.
It’s a huge lesson for kids to understand these principles, he said. Parents can take them to the store, buy the lemonade, or have them make it. This teaches kids what overhead is and deduct that from the profits.
“You can teach your kids life lessons, the earlier they learn it, the more successful they’ll probably be growing up,” he said.
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