During the past few years, entrepreneurship has gained a lot of popularity among Egyptians. Although relatively new to Egypt, the entrepreneurial approach to business has been the way to go globally for the past 3 decades. In the late 70s, Americans were the first to transition from managerial capitalism to a more entrepreneurial economy. And it is believed that they shifted so easily because the country itself was built by the hands of entrepreneurs who were innovators and risk-takers.
Today, it is not unusual to see children and teenage entrepreneurs making a hit in the global market. There’s Moziah Bridges of Mo’s Bows, Robert Nay of Nay Games and countless others. Entrepreneurial qualities are already present in every individual. But, they can be further developed through education. At The Journey of Entrepreneurship (JOE) Academy, we educate children and teens (8-18 years) about concepts related to entrepreneurship, character building and business skills. JOE helps develop those present qualities early on as we believe that it is never too early to become an entrepreneur.
Here are 10 reasons why studying business and entrepreneurship at a young age is a great idea this summer:
1. It is easier to learn and grasp anything when you are younger
It is always easier and more effective to learn when we’re younger. Today’s children and teens are already learning about things we as parents didn’t know about when we were their age and actually find it hard to learn about them as adults. Nothing is difficult for a child to grasp if simplified appropriately, including the most complex business concepts. All the big concepts of business such as marketing, finance and the idea of customer service can be adapted so that an 8 year old can understand them. And this can happen through strategically designed games, activities and experiential learning which can really turn a child into a young entrepreneur.
2. They find their passion at a really young age
Anyone who has found their passion would tell you that you don’t just suddenly know while sitting at home. You try different things and learn new skills and finally discover what you love. Many people finally find their passion after already venturing far into adulthood. But why wait all that long when you can save time and maximize your potential by finding what you’re good at while still at school? With the right guidance and tools, children and teens can understand themselves more and find it easier to find their passion and discover their interests and possibly create a business idea out of them.
3. They learn skills that they will use their whole lives
Entrepreneurship isn’t only about business skills, but it is also about mindsets, behavior and communication which are all prerequisites of any successful entrepreneur. Children need to learn the essential skills needed for leading a successful life that they wouldn’t normally learn at school. Learning skills such as time-management, networking, presentation skills and leadership will make them exceed at anything they choose to do in life in the academic, professional and personal areas.
4. They will be using their time for something useful and productive
Summer vacation is coming up and kids and teens will have a lot of time on their hands. Instead of watching too much television or engaging in useless or harmful activities, they can productively invest their time in a useful and fun entrepreneurship program. Even if they decide not to be business people when they grow up, the kind of entrepreneurial mindset they will acquire from such a program will help them lead better lives either personally or professionally as well as own their futures. Problem solving, risk-taking, resilience, focus self-reflection and self-reliance are some of the skills that children and teenagers can learn with an entrepreneurship program which through experiential learning allows them to experience such skills through different games, exercises and activities.
5. They will stand out from the crowd
Learning business and character building skills will definitely make your son or daughter a unique and clearly mature and developed child compared to children their age. Whether it is how they solve problems, set goals or even communicate with others, you’ll see how exceptional your son or daughter will be after studying and practicing entrepreneurship.
6. They will become better goal setters and motivators
Since one of the skills they learn in an entrepreneurship program is setting SMART goals, your child or teen will learn to become better goal setters and achievers too. They’ll also learn how to motivate and encourage themselves to always work hard whether at school, for a sport or an instrument they play. They will get a chance to apply these skills during the program and use them in real life, not just learn about them.
7. They will make better use of what they learn at school
Schools usually focus on teaching information and training students to learn this information by heart. But, when it comes to teaching real life skills, many education systems fall short. Joining an entrepreneurship program will not only help your son or daughter better understand the importance of the subjects they take at school, but it will also teach them how to use this knowledge in a better way. Even their language skills will develop significantly as the program will help them learn new concepts in English and use new vocabulary that they may not learn at school like “revenue”, “profit” and “break-even”.
8. They will expand their network and meet new people
Networking is an important part of learning how to become an entrepreneur. Not only will your child learn how to network with people, but they will also meet new friends during the course that will have similar mindsets and goals.
9. They can start their own business after they take the course
Joining a program that trains on entrepreneurial skills can help children and teens develop their business ideas, as well as the operational, financial and marketing plans of their businesses. At JOE, all students are required to make a business plan implementing the business idea they create. This project is done in teams and the winning team of each class is given connections or mentorship if they decide to proceed with their idea.
10. They can become independent at a very young age
By “independent” I mean both financial and social independence. If they choose to launch their own business, they can save or spend more and make something great out of the money they earn. What is better than to start making your own money at a young age? In addition to that, there are endless skills such as those mentioned above that can help your children become more independent too.
The fast-changing world we live in today needs brighter, more creative and enlightened students. Whether your child wants to be a doctor, engineer, artist or sports person when they grow up, they can always open their own business and become independent entrepreneurs in the field they choose to pursue.