Is Your Child an Entrepreneur?
Here’s an interesting question for you; what would you consider to be an entrepreneur? Is that a person running a huge business? Is it someone who simply has their own business and is the owner of it? Is it an individual who is simply selling knitted products that they make at home?
These are serious questions to ask because there are people out there who are wondering if their child is an entrepreneur? They look at the little project or business that they have going at the street corner or out of their garage and wonder if they can consider their child to be an entrepreneur. This is where our definition comes necessary.
What Is an Entrepreneur
According to the reference, an entrepreneur is a person who organizes and manages any enterprise, especially some kind of business. This is an important place to begin because it establishes an important starting point to start addressing whether you should believe your child is an entrepreneur not.
Now the question becomes if your child developed and organized some kind of enterprise? Does he or she have a lemonade stand? Does your child collect dolls, fix them up, and then sell them to friends or the Internet? Does he assist students in his class by helping them with their homework or mowing lawns around the neighborhood?
If these are the kinds of things that your child is doing, then they would be managing an enterprise. Even a child who was going out and mowing lawns around the neighborhood is running a business. That makes he or she an entrepreneur, according to the definition.
Why You Would Not Consider Your Child an Entrepreneur
The common mistake that many people make is that they look at the ideas that their child has and think that this turns them into an entrepreneur. For example, if your child has envisioned the idea of creating a business or product, and has wondered about how to do that, maybe even to the point of actually creating a business plan, that does not make them an entrepreneur. It is the actual creation of the firm, managing that business, and running it on a daily basis that makes it so that a person falls into this category.
That does not suggest that your child cannot become an entrepreneur one day. It is important to understand that all individuals start with an idea, a vision. The success of a business begins when somebody’s come up with an idea or innovation that enabled that business to grow and prosper. Either they came up with an invention that nobody else had, improved upon some modern innovation, or figured out how to do a business run with greater efficiency. Those all started with a dream.
Your child may be a future entrepreneur. He or she may have great ideas on what they will do to be able to make the world a better place and determine him or herself into a business tycoon. However, until he or she does that you cannot consider your child an entrepreneur.