In this episode of the High Return Real Estate Show, Shecky and Jack bring on a very special guest to discuss how you can instill the entrepreneurial spirit in your kids. Jack’s nine year old son comes on the show to talk about what being an entrepreneur means to him and how Jack’s work and experience have helped him understand business.
Key Lessons Learned:
- We learn a lot from our relatives, if you have an entrepreneurial relative you will pick up some of the skills and mindset of business from them.
- You have to develop your own skills and mindset if you truly want to succeed in business and life.
- Being introduced to personal development at a young age is a tremendous advantage.
- There are no limitations other than the ones that you put on yourself.
- Automation and machinery are replacing a large majority of the jobs within the economy.
- The pace of change is accelerating, having just a job puts you in a very uncertain position.
- Teaching your children how to be entrepreneurs gives them the confidence and ability to set their own path and react to a changing work landscape.
- Entrepreneurial thinking is about solving problems. The bigger the problem, the bigger the paycheque.
- Give your kids the tools they need to address the causes of problems in the future instead of just the symptoms.
- Playing games like Monopoly and Cashflow are great ways to understand the key concepts of money management and business. The way you play a game is the way you show up in life. Games are also an opportunity to spend quality time together.
- Traditional education only gives you a partial foundation for running a business, there is no entrepreneurial influence in the school system. Most kids graduate highschool without any idea how money works.
- How money works is a key lesson that all kid entrepreneurs should learn early on.
- The number of people that focus on bettering themselves is a very small portion of the population, raising kids to be entrepreneurs puts them on the path to self improvement.
- John wants other kids to encourage their entrepreneurial parents to teach their kids about what they do. Seeing how a business is run is a great first step.
- It’s not just about making more money, as a future business owner you also have the ability to invest in the causes and things you care about.
- Kid entrepreneurs are the future of the world.
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