What is entrepreneurism?

What is entrepreneurism?

What is entrepreneurism?

Entrepreneurship, by definition, is the taking on of financial risk in pursuit of profit.

A definition created for investors, for business-minded moguls in their 50’s who make 6 figure salaries and play golf on the weekends.

Needless to say, this definition is far from the truth.

These days, it’s a changed world.

The youth are becoming founders from a primary school age, often achieving levels of success greater than their adult counterparts.

And although it’s in its early stages, this entrepreneurial phenomenon is showing no signs of slowing down…

Why now?

Our world is one unfamiliar to generations prior.

The skills harnessed through business creation are of far greater value than they once were. 

These skills include organisation, problem solving, confidence and leadership skills, just to name a few.

With workscapes increasingly valuing soft skills, having these ingrained in early childhood has burgeoning benefits later on. 

Parents often worry about their child’s future successes, placing fundamental importance on ensuring they are future and work ready.

Teachers are similarly invested in providing their students the best possible opportunities for learning, and teaching valuable skills is essential in facilitating this. 

What’s the benefit?

Leah Remillét, entrepreneur and founder of The CEO Kid, spoke to The Epoch Times on the importance of teaching entrepreneurism to kids.

She states that the younger an individual is, the likelier they are to absorb critical information and unfortunately, the US school curriculum often fails to teach and instill what is most needed.

“The school system was developed for a workforce that doesn’t exist anymore. [Entrepreneurial] skills are part of our world today… [and] they’re critical.”

It’s predicted that by 2021, 42 million people will be self-employed, further emphasising the importance of developing entrepreneurial skills in today’s youth.

What’s more, is that 65% of kids entering primary now will end up in jobs that don’t even exist yet!

If this doesn’t encourage a move towards a more skilled generation, what will?

Why start early?

“One of the things that I really love about entrepreneurship and business for kids is that it is an opportunity to make mistakes when the stakes are really low.”

In failure, continues Leah, young people learn resilience and problem solving, two fundamental skills that entrepreneurism fosters undeniably better than any school-taught course.

These skills, which are in tune with the changing employment landscape, help nurture kids into tenacious, goal-setting individuals, benefitting them immeasurably in adulthood.

What’s more, young people are oftentimes unaware of their superpowers e.g. undiscovered skills, passions or talents.

In identifying these, kids are empowered to self-improve, creating their own opportunities.

Who to teach and when?

All young people should be taught fundamental entrepreneurial skills.

Natural academic or not, the skills taught create a more employable individual, harnessing practical skills that are transferable across fields.

Leah Remillét claims that encouraging creativity in young people is the first port of call, followed by developing their analytical thinking and tenacity.  

“Equipping kids with the skills to be creative problem solvers, to be resilient, to be self-reliant…is absolutely critical.”

Teaching these lessons creates an environment of positive growth for young people and ultimately, encourages greatness and ingenuity.

To see firsthand the benefit of introducing kids to a world of entrepreneurship, check out these amazing kids and their stories of success.

What’s the bottom line?

Not all kids can become the next Elon Musk or Mark Zuckerberg, nor should they be expected to be.

Ultimately, what matters most is not the initial idea or final product.

It’s the introduction to entrepreneurism, catapulting young people into opportunities and opening doors through the skills it cultivates.

Entrepreneurism is broader than its definition, so let’s be the first to change it.

 

Kebloom is a platform for entrepreneurial young people, walking them through the process of brainstorming an idea, iterating it and then finally, launching it into the real world as a business. Whether it is a not-profit, social impact initiative, product and/or service, young people can bring their business ideas to fruition with the help of Kebloom and its step-by-step design.

About the Author:

Ellie McRae is the blogger, interviewer and content creator for Kebloom! When she’s not writing kick-ass articles, you’ll find her studying marketing and drinking copious amounts of coffee. Find out more about Ellie here.

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