Entrepreneurship is the goal for so many here. We want to run our own show.Having control of our own destiny is essential. We don’t want bosses, or policies, or other peoples limited visions to stop us from our dreams.
And we chase after that dream, whether through a side hustle or as our full time gig. And as entrepreneurs, we realize that so much of what we were taught in school turned out to be a big pile of nothingness. So we now dive into books, podcasts and online courses that teach us to be comfortable being uncomfortable. That getting perfect grades doesn’t prepare us for the challenge of getting things wrong, and needing the grit to persevere, pivot and reinvent. That being a good rule follower prepares us to be a good employee but not much more.
“I wish I was taught this when I was a kid,” we wind up saying later in life. I was 32 when I first said many of these things.
And then the irony hits. I wish I was taught this as a kid, but I’m not teaching this to my own kids. And here is the million dollar question.
Why not? Why aren’t we preparing our kids for a world that we wish that we had been prepared for?
My friend Ken Carfagno does this brilliantly. Ken runs a monthly call in the Total Life Freedom Mastermind specifically on Kids and Entrepreneurship.
As part of the homeschool curriculum that him and his wife Teresa has created, they have Entrepreneurial Training that each of their five kids goes through. Each year, they have a different area of focus that they concentrate on. At eleven, they focus on entrepreneurial training Phase 1. By age 13, they have a bank account set up. Kenny, their fourteen-year-old, started working with their dad in their cleaning business. After reading some of Ken’s recommended books, Kenny started messing around building computers. Now, he started a business where he sells computers, and he just invested his first $1,000 into the stock market.
Teaching our kids the lessons of entrepreneurship is not just a luxury, but it’s going to become a necessity. It’s projected that in the next few years, half of the population will be freelancers in some fashion. And let’s be honest- schools are not preparing our kids for this world.
We’ve followed Ken’s lead, and have created our own Entrepreneurial Training for Kids at our house. As part of the work, our eleven-year-old son Nolan and I are reading Rich Dad, Poor Dad together. It’s amazing to watch him grasp the difference between and asset and a liability, and why the rich invest in assets and everyone else invests in liabilities. Lessons that I didn’t start learning until I was 32.
So if you have kids, the time is now to start. Don’t be the reason that they say those words that too many of us had to learn too late.
I wish I would have learned this when I was a kid.