Guest blogger Amir Learner gives us a terrific perspective on how the lessons we learn as children translate into running a business. Find Amir on Twitter.
Believe it or not, successful entrepreneurs and young children share quite a few character traits. As a society, we spend a lot of time teaching our children, but how often do we take a step back and see what children can teach us. Below, we explore some childish activities and traits that can really benefit small business owners and entrepreneurs.
1. Make every penny count
If you remember being introduced to the concept of money as a child you probably also remember how valuable you thought a penny was. You may have saved all of your money in a change jar or piggy bank, and probably counted your change out a few times a week to see how much you had. Many times, this level of financial responsibility can be outgrown.
Small business owners need to be resourceful and conservative with their budgets. To help, here is an Entrepreneur.com post that examines 50 ways to save money in your business. After all, a poor financial decision can sink your business much before you even have a chance at success.
2. Take risks
Ever notice how eager children are to take risks? Do you have any pictures of some of the ridiculous things you insisted on wearing to school when you were younger? Whether you wanted to be different or wanted to be cool, you probably took some risks as a child that you probably wouldn’t take now.
I’m not saying be irresponsible, but like children, many entrepreneurs are risk takers. Putting time, money and other resources into your small business can be risky for the shear fact that your business may not take off the way you envision it to. Along the way you may be faced with some difficult decisions, but if you make the right one you could be in for some serious success!
3. Be social
Ever watch kids interact on a playground? It’s amazing. In that world, there is no such thing as being shy. Kids will walk right up to each other and introduce themselves. For some reason, we tend to grow out of this social introduction pattern as we grow older. At events or conferences, people tend to talk to the same people every time and really don’t take full advantage of having a room full of potential resources. You never know what sort of idea, tool, or connection someone can introduce you to.
4. Be curious
Far too often in society, we begin to accept things as they are as opposed to questioning them. Kids have this sort of natural curiosity, always wanting to learn how something works or even asking why the sky is blue. This curiosity is the road to innovation. Who knows what you might come up with?
5. Don’t always use things the way they are meant to be used
Sometimes, children will take something conventional, such as a cardboard box (an inductee into the National Toy Hall of Fame) and turn it into something like a spaceship or castle. Do you remember how much fun you had popping all of the bubbles in a bubble wrapped package? With the world at your disposal, can you come up a new use for a specific product and then turn it into a business?
6. Be dependent on your parents
As a child you believed your parents had all the answers and you probably spent your early years picking their brains apart for every answer on earth. Before you started anything you wanted someone to show you how to do it. This concept of having parents help you start a process as a sort of mentor can be carried over to starting a small business.
Doing a bit of networking and finding someone to teach you the ins and outs of a specific trade will better prepare you to start your own small business!
7. Ask a LOT of questions
Asking questions with those who you interact with regarding your business is a great way to educate yourself about your specific industry. Having a knowledge base about your industry can greatly improve your chances of running a successful business.
8. Have fun!
Kids rate activities based on how much fun they can have. When starting a business it is very easy to get lost in some of your tasks and you can forget why you started a business in the first place. It is a good idea to take a step back and reap the fruits of your hard work. Mixing some fun into your work day can be energizing and refreshing. After all, isn’t starting a business all about freedom and having the luxury to pursue your passions?
9. Live in the present
The nice thing about kids is they are all about the now. Their short attention spans don’t allow them to really hold grudges and they try and get the most out of every day. They always seek instant gratification. If you tell a child you are doing something next week, they will want to do that activity now.
As a small business owner, you control the pace at which you complete tasks or roll out services. You can also decide where you want to allocate your time and resources. Successful entrepreneurs often times don’t wait, but go after certain things. Remember, the early bird gets the worm.
10. Show and tell
Sharing your product or service can be on the most exciting things you can do as a small business owner. Getting the word out there for your product can be difficult, but once your product is ready, you should show it to the world!