Are entrepreneurs born or made? Whichever one you believe, just as the environment is crucial for anything to grow, the same applies for your future Patrice Motsepe or Ipeleng Mkhari. Many successful global entrepreneurs started from a young age, as was found by brothers Matthew and Adam Toren, authors of Kidpreneurs: Young Entrepreneurs With Big Ideas!
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Look to CEO of Zappos.com Tony Hsieh, who started the online clothing store when he was 12 years old – by selling old photos transformed into buttons or clips. However, our economy is currently not the most stable. At the end of April, the National Treasury projected job losses of around 7 million and the GDP to shrink by 6,4%. Giving kids the money talk early on, and having business acumen, could have you raising the future solution to our economy. But, it all starts with you supporting and nurturing their curiosity.
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Make them money-smart
Our relationship with money is greatly influenced by our parents and background. “Our kids don’t listen to what we say they should be or do; instead, they become who we are,” says internationally accredited money coach and author Busisiwe Selesho. This is why managing director of GAD Consulting Services Inc. Precious Mvulane, who is also the author of The Essential Finance Handbook for Entrepreneurs, suggests teaching your kids key money principles early on. “Don’t just give, but rather reward your children with pocket money. Teach them to understand that money is a reward for solving a problem,” she says.