By Patrick Driessen
Entrepreneurship is the growth engine of most developed economies. To keep feeding the entrepreneurship engine, education, inspiration and motivation are key ingredients to breed new entrepreneurs. I always like to say that anyone can become an entrepreneur!
Now every country needs new entrepreneurs and that is something we can all help with, because YOU can help to breed new entrepreneurs! This overview will hopefully inspire you about how you can contribute to it as well.
How YOU can stimulate young entrepreneurship
- Buy whatever kids are selling on card tables in their front yards.
- Explain and teach young children that entrepreneurship is not only about making money; it's also about things like creating meaning, social relevance, team building, leadership, innovation, finance, people care, improving the environment, etc. All focused on creating a better world for all of us!
- Explain that young entrepreneurs today are living in a world of constant change, and they must be aware of this fact. As the world is always in a state of change, these young entrepreneurs positively show new thinking and innovative ideas. These qualities are particularly seen in the most recent young entrepreneurs with fresh ideas and are open to try something totally different from the former entrepreneurs of the last century. Unlike generations before them, these young and modern entrepreneurs have a totally changed world view.
- Share your lessons learned and insights about entrepreneurship with as many young children as possible. Especially those who do not have entrepreneurial parents! You might become their leading example, you might spark them, you might become their coach & mentor, you might become their first client, you might become their first investor, etc.
- Provide young children with tips and tricks about how they can turn something into a profitable new business. Examples are:
- Grow and sell organic vegetables and fruits; package it and sell it door-to-door (supported and guided by an adult);
- Sell chilled lemonade and cookies in summertime, sell hot chocolate and soup in wintertime;
- Design and create useful and trendy crafts-work out of paper, clay, wood, textile, etc. (e.g. bracelets, T-shirts, pots, carry bags, school gear) and sell these at a cardboard stand in the front garden and at fairs;
- Create a new computer or mobile game...;
- Start a new online shop;
- Build websites for the new businesses of fellow young entrepreneurs;
- ......... (create your own examples).
- Tell them about successful young entrepreneurs and how senior entrepreneurs started when they were young. A few examples:
- British serial entrepreneur Sir Richard Brandson: started his first business at 16 years;
- 17 year old Australian serial-entrepreneur Lachy Groom sold his first business at the age of 15 and since than founded two new businesses he's still working on;
- Dutch Internet entrepreneur Ben Woldering started his first successful e-business at the age of 16, thanks to a school assignment about entrepreneurship;
- An overview of websites in the world run by young entrepreneurs as young as 17: 20 Young Internet Entrepreneurs Under 21.
- Refer young potential entrepreneurs and wannapreneurs to specialised websites such as:
How YOU can inspire young entrepreneurs
Master-blogger and best selling author Seth Godin wrote an insightful story about young entrepreneurship in which the lessons learned from two lemonade stands were described. It's a great story to share with wannapreneurs as it will inspire them and will open their mindset when they'll think of a compelling business model to start with.
The first stand is run by two kids. They use Countrytime lemonade, paper cups and a bridge table. It's a decent lemonade stand, one in the long tradition of standard lemonade stands. It costs a dollar to buy a cup, which is a pretty good price, considering you get both the lemonade and the satisfaction of knowing you supported two kids.
The other stand is different. The lemonade is free, but there's a big tip jar. When you pull up, the owner of the stand beams as only a proud eleven year old girl can beam. She takes her time and reaches into a pail filled with ice and lemons. She pulls out a lemon. Slices it. Then she squeezes it with a clever little hand juicer.
The whole time that's she's squeezing, she's also talking to you, sharing her insights (and yes, her joy) about the power of lemonade to change your day. It's a beautiful day and she's in no real hurry. Lemonade doesn't hurry, she says. It gets made the right way or not at all. Then she urges you to take a bit less sugar, because it tastes better that way.
While you're talking, a dozen people who might have become customers drive on by because it appears to take too long. You don't mind, though, because you're engaged, almost entranced. A few people pull over and wait in line behind you.
Finally, once she's done, you put $5 in the jar, because your free lemonade was worth at least twice that. Well, maybe the lemonade itself was worth $3, but you'd happily pay again for the transaction. It touched you. In fact, it changed you.
Which entrepreneur do you think has a brighter future?
The first stand is run by two kids. They use Countrytime lemonade, paper cups and a bridge table. It's a decent lemonade stand, one in the long tradition of standard lemonade stands. It costs a dollar to buy a cup, which is a pretty good price, considering you get both the lemonade and the satisfaction of knowing you supported two kids.
The other stand is different. The lemonade is free, but there's a big tip jar. When you pull up, the owner of the stand beams as only a proud eleven year old girl can beam. She takes her time and reaches into a pail filled with ice and lemons. She pulls out a lemon. Slices it. Then she squeezes it with a clever little hand juicer.
The whole time that's she's squeezing, she's also talking to you, sharing her insights (and yes, her joy) about the power of lemonade to change your day. It's a beautiful day and she's in no real hurry. Lemonade doesn't hurry, she says. It gets made the right way or not at all. Then she urges you to take a bit less sugar, because it tastes better that way.
While you're talking, a dozen people who might have become customers drive on by because it appears to take too long. You don't mind, though, because you're engaged, almost entranced. A few people pull over and wait in line behind you.
Finally, once she's done, you put $5 in the jar, because your free lemonade was worth at least twice that. Well, maybe the lemonade itself was worth $3, but you'd happily pay again for the transaction. It touched you. In fact, it changed you.
Which entrepreneur do you think has a brighter future?
How YOU can stimulate entrepreneurship at primary schools
A great way in which you all can help to stimulate entrepreneurship and innovation is by sponsoring and supporting the BizWorld Foundation (non-profit) of which I'm a passionate Ambassador and Trainer.
With the BizWorld Foundation’s programs, primary school teachers help their students to develop the critical thinking, leadership, innovation and teamwork skills that allow them to become financially responsible, entrepreneurial and productive members of our society.
The BizWorld programs show children in grades 3-8 how they will benefit from entrepreneurship, instilling confidence to reach their goals, and helping them become part of the next generation of innovators. The programs and curricula apply to kids from all socioeconomic and academic backgrounds, providing children with valuable real-world experiences.
Help to create new entrepreneurs and companies within the next generations, by sponsoring and supporting a primary school near your business or home location! Maybe you want to become more than a sponsor and become a BizWorld trainer like myself. You'll love it!
BizWorld is currently active in:
With the BizWorld Foundation’s programs, primary school teachers help their students to develop the critical thinking, leadership, innovation and teamwork skills that allow them to become financially responsible, entrepreneurial and productive members of our society.
The BizWorld programs show children in grades 3-8 how they will benefit from entrepreneurship, instilling confidence to reach their goals, and helping them become part of the next generation of innovators. The programs and curricula apply to kids from all socioeconomic and academic backgrounds, providing children with valuable real-world experiences.
Help to create new entrepreneurs and companies within the next generations, by sponsoring and supporting a primary school near your business or home location! Maybe you want to become more than a sponsor and become a BizWorld trainer like myself. You'll love it!
BizWorld is currently active in:
Is BizWorld not yet active in your country? Maybe YOU can kick it off!?
How YOU can help to make young entrepreneurship work
While the world has countless enthusiastic young people with ideas, potential business skills and technical skills, there are many challenges facing these youthful entrepreneurs. These range from the natural - potential investors such as angel investors, venture capitalists (VC's) and banks disputing their expertise - to artificial, such as the age restrictions placed on credit card services that might otherwise be used to pay for start-up resources, age restrictions for the incorporation and registration of a new company, etc.
Now YOU can help them by acting as a mentor, coach and supporter!
As a young entrepreneur I have personally experienced many hurdles and tough challenges, which could have been prevented or taken away if..... I would have had an adult coach and/or mentor! Of course I used tricks to look older and more senior such as wearing glasses with fake/normal lenses, wearing a suit and a tie; all at the age of 15 years. I bet at my Dutch high school a lot of other kids were making fun at me, because I was the only one wearing a business jacket and tie...
For me my entrepreneurial life became much easier when - at the age of 16 - a friend of my father showed his belief and trust in me and my entrepreneurial ideas. I had very supportive and entrepreneurial parents, however this person was an authority within the law and corporate business community and he invested some of his precious time in me! Wow! The fact that he took me serious and acted as a mentor boosted my self-esteem, gave me lots of energy and helped me overcome many challenges. As my mentor he also prevented me from making some big mistakes, which could have negatively impacted my future.
The insights and lessons learned he gave me also helped me to further develop my passion to help others succeed, to become a coach and mentor for fellow entrepreneurs and to inspire others about entrepreneurship and leadership.
Now 24 years later I am very happy, proud and inspired to see that the mentor I was referring to is still mentoring young people as well as helping many other people and organisations to succeed. He's also a true inspirator for entrepreneurship and so can YOU be!
In my opinion, young entrepreneurs can be inspired and motivated by the success stories of well-known entrepreneurs like Richard Branson, Yuri Mintskovsky or Steve Jobs. They are great role models. Their tips can help you become a successful entrepreneur someday!
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