How do you prepare your kids for entrepreneurship? The simple answer is a lemonade stand. However, there are some more important traits that kids will also need if they want to become entrepreneurs later on. The Wall Street Journal has listed some of those traits you can help your kids work on this summer.
Parents should urge kids to explore their environment—and don’t let them get too comfortable, advises Arthur Blank, co-founder of Home Depot Inc. and owner of the National Football League’s Atlanta Falcons. That means urging them to ask questions constantly and develop an inquiring mind.
Parents should help kids recognize that their world is full of business opportunities, and finding them just takes some careful observation and creativity.
Sports can be a great classroom for entrepreneurial values. Mr. Blank says his six children, who have all played a variety of sports, have had to learn how to deal with setbacks and how to move past losses. “Sports teach how important teamwork is. The germ of the idea for Home Depot was with Bernie [Marcus] and me, but we also needed the ability to get other people excited about the idea—to get in the game, so to speak,” he says.
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