How and Why to Foster an Entrepreneurial Mindset in Children

An entrepreneurial mindset in children helps them to have initiative, purpose, and personal success. That's why helping them is key.
How and Why to Foster an Entrepreneurial Mindset in Children
Elena Sanz Martín

Written and verified by the psychologist Elena Sanz Martín.

Last update: 04 May, 2023

When we think of people with an entrepreneurial mindset, we tend to imagine an adult who runs their own business. But this quality can also be a positive thing to develop in children. This attitude can open many doors for your children, not only in the workplace but also in their social relationships and personal growth. That’s why we want to show you how to foster an entrepreneurial mindset in children.

The truth is that many parents may not feel able to convey this message. Traditionally, people have been trained to be good employees and to be part of stable and subordinate companies and jobs. And the qualities required for this purpose are diametrically opposed to those needed by an entrepreneur.

However, it’s never too late to learn and make a change in mentality. Especially if we take into account that, in today’s changing and uncertain world, children need their originality and initiative to get ahead. If you’re willing to accompany this learning in your children, we’ll give you some keys to do so.

Why encourage an entrepreneurial mindset in children?

Before going into the guidelines to follow, we want to share with you some of the reasons why it’s worth instilling this attitude in children. They can really benefit greatly now and in the future from developing an entrepreneurial spirit.

They learn to create their own opportunities

From an early age, children are accustomed to conforming to the possibilities that others offer them. Adults set a limited set of paths to follow and children are expected to adapt to them. However, an entrepreneurial mindset helps them to see beyond, not limit themselves to what others impose on them, and design their own lives. In this way, they understand that there are more possibilities than what meets the eye.

A child working on a laptop at school.
Children with an entrepreneurial mindset develop initiative, drive, and confidence and don’t limit themselves to conforming to what others set before them.

An entrepreneurial mindset improves their self-knowledge

An entrepreneurial attitude implies placing oneself as the basis for the decisions that are made. In this way, children get to know what they like, what they’re interested in, and what they need. What’s more, they know what environments and activities are most conducive to them and can focus on them. For example, they can understand which study style suits their personality or which extracurricular activities fulfill their desires and expectations.

This ability to understand themselves and give value to their needs and preferences will help them feel more satisfied and be more successful than if they just follow the standards set from outside.

They develop leadership and perseverance

Entrepreneurship implies knowing how to organize time and resources to achieve a goal. This requires planning, analysis, and a good ability to monitor one’s own actions to know if they’re on the right path. It also increases perseverance, resilience, and tolerance for frustration. All of these qualities are really useful for little ones in various areas of their lives.

They live with purpose

The most direct way to achieve success and happiness is to live with purpose. For children, knowing what they’re good at and being able to work on it is a great gift. Therefore, an entrepreneurial mindset helps them know that their voice and opinions are valuable, that they have something to contribute to the world, and that they can enjoy themselves as they develop that gift or interest.

They forge their own vision of success

This attitude helps children understand that their qualifications don’t define their value, nor does the degree to which they fit in with the majority. Therefore, they understand that everyone can have their own vision of success and strive to fulfill their own.

A young girl learning how to make clothing.
Enterprising children forge their own vision of success. Therefore, they seek to accomplish what makes them happy and allows them to grow and develop without comparing themselves to others.

Learn how to foster an entrepreneurial mindset in children

As you can see, the benefits are numerous. So, if you want to help your child generate this mentality, here are some tips you can put into practice:

  • Allow them to be who they are and accept them unconditionally. Don’t try to make them conform or adapt to what’s considered normal and, on the contrary, help them identify their qualities and virtues.
  • Allow room for their voice and opinions. Instead of implementing an authoritarian parenting style, opt for dialogue and a democratic style. Let your child express themself, contribute, choose, and decide. Encourage them to have their own criteria and not just be obedient.
  • Help them build self-confidence. Overprotection is the worst enemy of an entrepreneurial attitude, as it makes children believe that they’re not capable of fending for themselves. Therefore, assign responsibilities to your child and offer them tasks that they can achieve if they invest effort. This will increase their self-esteem and determination.
  • Encourage a growth mindset, which is based on the fact that qualities and skills aren’t fixed and can be improved if we put our minds to it. Emphasize effort and not so much the result. This has been shown to encourage children to take on challenges more courageously.
  • Teach financial intelligence. Show them how to manage money and how to save, invest, and share. Offering a weekly allowance can be a good alternative.
  • Involve them in projects that interest them. This will allow them to practice their organizational skills, leadership, and resilience. This activity can range from creating decorations for their bedroom together to creating a small business to offer to family and friends.
  • Be sure to expose them to quality role models. That is, people who love their profession and who have achieved success through their attitude and mindset. They can be people from your close environment, celebrities, or great personalities of history.

An entrepreneurial mindset goes beyond school

Although more and more schools are opting for alternative and child-friendly methodologies, most of them still use obsolete methods. These are those that seek to homogenize all children under a passive role. For this reason, it’s important that families take action to develop an entrepreneurial mindset in children.

In addition to applying the above guidelines, there are workshops, programs, and training specially designed for children and young people that seek to encourage this initiative. And this can be a great complementary option.

All cited sources were thoroughly reviewed by our team to ensure their quality, reliability, currency, and validity. The bibliography of this article was considered reliable and of academic or scientific accuracy.

  • García A. (2016) ¡No me sale!… ¡Todavía! Mentalidad de cambio vs mentalidad fija. El poder de creer que podemos mejorar.  En: ¿Cómo podemos transformar nuestras escuelas? Estrategias para fomentar la autorregulación en la escuela primaria, 55-60.
  • Simón, J. D. (2015). Pueden los niños adquirir y aplicar conocimientos de emprendimiento?. El caso del subprograma, mi primer empresa:“emprender jugando. Nova scientia7(15), 389-415.

This text is provided for informational purposes only and does not replace consultation with a professional. If in doubt, consult your specialist.