Essential steps towards your child's first business

First of all, so that the little one's business is not just a beautiful dream or, on the contrary, turns into a nightmare, it is important that it coincides with his pleasures, allows him to put his skills into practice and give free rein to his imagination. Thus, if your little one is very funny and always on edge, he could play the role of a clown at children's parties, while a serious, more shy girl, maybe even a math lover, could write various documents on the computer.

Even if it sounds pompous, the business plan is an important step for your child's small business. Thus, it is good to evaluate, together with him, the feasibility of the business idea: the competition (perhaps there is already a child in the group of friends with similar concerns), the initial investment (the youngest has the necessary money; are you willing to lend it?), other resources involved (will the child have enough time to deal with his business? is he willing to give up his free time?).

Preliminary preparation is just as necessary before starting a small business. Your boy may need family support to teach him how to make lemonade, iced tea, how to mow the lawn, and other logistical advice. Between us, at least in the beginning, the help of an adult family member cannot be excluded from the scheme.

Once the small business is up and running, it is important to periodically evaluate the earnings, together with your girl or boy. The child must understand that any business is a serious undertaking and that the money can come out of the parents' pocket only at the initial investment stage. Moreover, with time he has to follow the profit, not just to have fun playing the big people!

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