How Parents Can Support a Budding Entrepreneur

youth entrepreneur standing in front of her business

Photo:

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Empowering tomorrow’s business trailblazers

As the founder of Studentspreneur, a social enterprise that helps young entrepreneurs use their skills to assist local small businesses, I’ve seen firsthand the transformative power of entrepreneurship for kids. Programs such as ours aim to harness their creativity and ambition, teaching them real-world skills while making a meaningful impact on their communities.

In addition to supporting students on their business journeys, I have also seen the power of entrepreneurial skill-building in action with my daughter. Watching her tackle challenges, brainstorm ideas and develop her own mini projects has been inspiring. These moments have shown me how entrepreneurship can help kids build confidence, think creatively and grow into resourceful individuals who are ready to take on the world.

Encouraging your child to explore entrepreneurship isn’t just about fostering business skills — it’s about empowering them to dream, create and lead with confidence in a rapidly changing world. Entrepreneurship isn’t only about making money; it’s about cultivating financial literacy, independence, self-confidence and collaboration skills. These experiences shape kids into resourceful and adaptable individuals, ready to thrive in any environment.

TED-Ed Innovative Educator and founder of Latinos in Coding Marcos Navas teaches a workshop to youth — Author Marcos Navas (center) working with youth business innovators as part of his organization, Studentspreneur. Photo: courtesy Marcos Navas

Inspiration from a budding bookmark business

At a recent community event, I met a 10-year-old selling handmade bookmarks. With a small display table and a lot of enthusiasm, she pitched her creations to passersby, explaining how each design reflected her favorite books. Watching her interact with potential customers reminded me that entrepreneurship isn’t just a fun game — it’s a serious opportunity for growth. She wasn’t just selling bookmarks; she was mastering real-life skills such as negotiation, public speaking and community engagement. These skills, typically reserved for adults in privileged settings, were on full display in this young creator.

How to nurture the entrepreneurial spirit in your child

Embrace their interests

Entrepreneurship starts with passion. Whether your child loves gaming, creating art or building things, there’s a business idea waiting to be explored. Action tip: Brainstorm how your child’s hobbies might translate into entrepreneurial ventures. For example, a gamer could explore streaming, while an artist might sell designs on platforms such as Redbubble, or an enthusiastic baker might sell their bread to local restaurants.

Strategize and explore resources

Expand a resource exploration into a full strategy session with the whole family. Start by asking your child about their actionable plan for launching their business. Focus questions on budgeting, key roles and possible adjustments as the venture grows. Discuss how even entrepreneurs depend on others; whether those are mentors, collaborators or customers.

Budgeting worksheets, design apps such as Canva and 3D modeling platforms such as Tinkercad can help your child learn practical skills while creating professional business materials. Resources such as this free budget template are a great place to start, and programs like Lemonade Day guide young entrepreneurs step-by-step.

Share stories of leaders who overcame challenges

Failure is a valuable teacher. Guide your child to see setbacks as opportunities to learn and grow. Share stories of famous entrepreneurs who overcame failures. For instance, J.K. Rowling’s journey from rejection to success. Before publishing “Harry Potter,” Rowling faced numerous rejections from publishers who doubted the appeal of her story. Despite being a single mother depending on public assistance at the time, she persevered, and her books went on to become a global phenomenon, selling over 500 million copies. Her story reminds us that resilience and determination can lead to extraordinary success.

mom doing her daughter's hair — Madam C. J. Walker is an inspiring business leader who overcame significant challenges. Walker was the first self-made female millionaire in America. She built a thriving beauty empire in the early 1900s, creating innovative haircare products for Black women. Walker was the first in her family to be born free after her parents and older siblings were enslaved. Photo: iStock

Foster mentorship and networking

Mentors and role models provide invaluable guidance and inspiration. Encourage your child to research and connect with local leaders or community organizations. For example, programs like Seattle Good Business Network’s youth initiatives or organizations like Junior Achievement.

Seattle Good Business Network’s youth initiatives empower under-resourced youth by connecting them with paid, hands-on opportunities through internships with businesses and public agencies, virtual networking and educational forums. The program offers personalized experiences depending on the interests of the students, from production space tours, to leadership roles on a youth board.

Junior Achievement (JA) is a global nonprofit organization that provides hands-on financial literacy, work readiness and entrepreneurship education to students from kindergarten through high school. Through programs like JA Company Program and JA Finance Park, students gain practical experience in starting businesses, managing money and preparing for future careers. JA empowers young people to own their economic success by connecting them with mentors and real-world learning opportunities.

Celebrate effort, not just outcomes

A child’s growth through entrepreneurship is more important than immediate success. Teach this lesson by hosting a family pitch night where your child presents their idea to friends and neighbors, just as hopeful entrepreneurs pitch their business ideas to potential investors.

Include preparation instructions, such as creating a simple pitch deck, practicing public speaking and preparing for questions. After the pitch night, support your child in reflecting on the benefits of on-the-spot thinking and storytelling.

This activity not only builds confidence but also builds public speaking, problem-solving and responding to feedback skills — all invaluable tools for their future.

How to host a family pitch night:

Set the stage: Choose a comfortable and welcoming space, like your living room or backyard. Create a professional vibe by setting up a table for materials or a display board.
Introduce the concept: Explain to your child that a pitch night is like presenting a business idea to potential investors or supporters. It’s an opportunity to showcase their ideas and practice public speaking.
Prepare a pitch deck: Help your child create a simple visual presentation. Include key slides such as: Problem Statement (What problem does their idea solve?), Solution/Idea (What is their product or service?), Target Audience (Who will benefit from it?), Budget/Needs (What resources or support do they need to get started?).
Practice makes perfect: Encourage your child to rehearse their pitch several times on their own and with others. Help them refine their storytelling and timing so the presentation feels natural and interesting.
Invite an audience: Invite family members, neighbors or close friends to serve as the audience. Provide audience members with clear guidelines about asking constructive and supportive questions, and sharing helpful observations in a positive way.
Present and engage: On pitch night, have your child confidently present their idea. Invite the audience to ask thoughtful questions and provide supportive feedback.
Celebrate the effort: End the night by sharing encouraging notes about the presenter’s courage and creativity.

Building bonds through business

Supporting your child’s entrepreneurial journey is more than an investment in their skills — it’s a chance to connect with them over their interests and discover a new side of their personality.

I’ll never forget the time my daughter asked for my input on her small business making and selling slime at school. She spent hours researching different recipes, experimenting with textures and creating vibrant, eye-catching colors. Together we brainstormed pricing strategies and ways to package her slime to stand out.

Watching her navigate challenges and celebrate small victories reminded me of the power of collaboration. It wasn’t about the money she made; it was about the joy we shared, the lessons she learned and the confidence she gained. With the right guidance and encouragement, your child’s entrepreneurial journey could not only open doors for their future but also strengthen your relationship in unexpected ways.