It always begins as a childish dream, our secret ambitions usually remain secret, never to see the light of the day. Very lucky few get to transform their dream into a reality. Most likely, they had a little help at hand, starting from early childhood. Which is why, to raise entrepreneurial kids, you have to catch them young.

Let us take a look at what are the common characteristics of a successful entrepreneur:

Taking calculated risks
Leaving the fear of failure behind
Great problem solving skills
Innovation; thinking out of the box
A great grasping power
A knack for financial management

When we look at the list above, all characteristics can be nurtured in a child from as early as toddler years. So, the first step to raising entrepreneurial kids is to start early.

“Breaking rules, not in my house!” If you are constantly reminding your child to follow rules then also bear in mind that too many rules can hamper your child’s creativity. While some rules are important to ensure your child’s safety, constantly imposing rules is not going to nurture entrepreneurial skills.

Letting children make their own mistakes and learn from them. Swooping in to correct your child’s mistake will only make them depend more on you in future. Letting children struggle with problems will develop their problem solving skills.

Children learn from observation. They have a knack for thinking out of the box because their mind is not compartmentalised like this of adults. They can think beyond the obvious and are really creative. As a parent, you should encourage your child even when he/she makes stupid suggestions or tries doing something in a way that is not conventional.

As soon as children start third grade, you can start explaining financial management to them. Giving small sums of money will make them realise the importance of saving and the joys of spending. Whatever they decide, they are learning an important life lesson.

Above all, respect your child and encourage honesty, integrity, resilience and vision in children. These attributes cannot be taught but can only be nurtured.

True entrepreneurship is achieved only when a child’s vision is transformed into a commercial project. There are many young entrepreneurs these days. Even child entrepreneurs are making new internationally. If you think your child has entrepreneurship capabilities, do make sure you give it the right exposure.