You know this child. The neighbor’s son or daughter selling lemonade on the corner during a hot summer day. A daughter who charges siblings interest to borrow money or loan them possessions. The budding artist who sells her artwork to friends at school. Meet the next generation of entrepreneurs―who may very well change the world as we know it.
The rate of startup growth has increased quite meaningfully in the last year. Reports indicate entrepreneurship is alive and well across the United States, with regions of start-up innovation emerging across the country at an increasing rate. There are a growing number of success stories that debunk the myths that you have to live in Silicon Valley or have to be…well…“old” to sow your entrepreneurial oats with success.
Where there was once a lack of resources to educate and promote entrepreneurship among young people several years ago, a strong passionate community has quickly arisen to embrace, mentor and fund our next-gen entrepreneurs.
This week in In Process (Trusted Counsel's bi-weekly podcast show), we speak with Monica Lage, executive director at Break into Business, a non-profit organization dedicated to training entrepreneurs age 9-17; and Professor Richard Linowes, management educator at American University in Washington, D.C.
“The most successful children entrepreneurs have a total determination and focus to drive forward what they believe needs to exist,” said Monica. “That has to come from a deeper source of passion―coupled with that determination to keep pushing since it’s so easy in the early days, especially, to call it quits.”
“The making of a great entrepreneur comes from a clarity about what kind of needs you want to address, and then just building the tools and team necessary to address that need,” said Richard. “It comes down to finding your passion and building a business around it.”
During the course of the podcast “Children Who Mean Business: Developing Next-Gen Entrepreneurs,” parents, investors and business mentors will learn:
- The benefits of educating children on real-world business and entrepreneurship
- How to recognize a child's propensity for entrepreneurship
- Resources available to promote entrepreneurship, from elementary school to college
- Characteristics of the successful entrepreneurs
Stream the conversation with Monica and Richard in the player below to learn how to best foster entrepreneurship in young people. You can also subscribe to In Process on iTunes to receive this episode as well as future updates from the show on your smartphone.