When was the last time you stopped and bought lemonade from a lemonade stand with 2 kids sitting behind a table? My brother and I had a lemonade stand when we were very young and it taught us alot of lessons. One of them is don’t drink all the lemonade or else you don’t have anything to sell. That happened a few times. In today's world, kids no longer mow grass or shovel snow, but entrepreneurship remains an integral part of kids' lives. Many of the great success stories in America started at a young age, whether it was to make extra money or just to feel independent. Entrepreneurs have changed the world and this is something that needs to be studied and taught to a greater extent than it is currently. This is my first article for Franchise Journal and I will be sharing the stories of young entrepreneurs over the next issues as we look for the kids who will impact your life years from now.
Finding entertainment to fill a child's days is an important part of their inventiveness. Although people are busy in the adult world, they still need to allow themselves imaginative space to dream and play.
Entrepreneurs often have big ideas and even bigger goals and most certainly think outside of the box in their journey to meeting those goals. This comes naturally to kids because they don’t have a box to think in!
It is important to work hard, communicate effectively, and remain resilient after disappointment if you want to succeed as an entrepreneur. The development of these skills can begin at a young age. Many young entrepreneurs also play sports or have built businesses online. All great things, right? That's why entrepreneurship can be a great framework for teaching these skills and allowing students to practice these skills in a supportive environment. Putting the goal of being a 'founder' aside, entrepreneurial skills will serve kids well in school and beyond—both in their careers and personal lives.
But really, here is how youth entrepreneurship education can make a difference in the growth and development of young people. Critical thinking at an early age that puts the various pieces of an economic puzzle together. How is it built? How is it marketed? How much does it cost? Who do we need to get involved to build a team? Entrepreneurship is all about thinking through the pieces that need to be put together.
My family is full of entrepreneurs and the dinner table conversations have always been around business ideas and how to grow them on a local, national and global level. Having these experiences at an early age is important but if kids don’t have entrepreneurial families, they can still learn. Whether it is taking the time to learn about how Apple came about and how the iPhone was created is one level. Learning about how it is marketed, made and sold is another. These are classes that need to be taught in school just like math, science and history. This kind of critical thinking is crucial as our world becomes smaller and ideas become more and more valuable.
Even though AI is becoming a mainstay of how we engage, critical thinking and creativity will always be important. You can’t use Chat GPT if you don’t have an idea of where you want to direct it to. Critical thinkers look at situations from multiple points of view, analyze facts, and weigh the strengths and weaknesses of something. By definition, they carefully think about a subject or idea without allowing opinions or feelings to affect them.
Whether it is today or a thousand years ago, creating a business requires entrepreneurs to think critically about problems they see and how to find a solution. In the process, they also explore and may discover personal strengths and areas for development—thinking carefully (and critically) about their interests and where they are great, natural contributors, or where they may need support. This self-awareness can benefit them throughout their careers.
Entrepreneurship is about identifying a need and solving a problem. Successful entrepreneurs contribute to the world by creating innovative and sustained solutions for long-standing problems. What problems will the kids of today solve tomorrow? That will be the topic of our next issues and if you happen to pass a lemonade stand, be sure to stop. You might just be getting a drink from the next great entrepreneur in America and at the very least you are going to make a kids day. Thank you for reading and let the journey begin!
About the Author
Max Neonakis is a budding entrepreneur who has built a thriving Ebay business himself. He is a junior at Gulliver Prep in Coral Gables, FL.
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