Teaching Entrepreneurship: Why We’re Encouraging Business Ideas

I’ve learned something crucial: entrepreneurship isn’t just about making money. It’s about developing a mindset that will serve our children for life, regardless of what career path they choose.

In our household, we don’t just allow business ideas—we actively encourage them. And through my work at Daddy Newbie, I’ve connected with hundreds of fathers doing the same thing, raising a generation of kids who see problems as opportunities and challenges as chances to innovate.

This isn’t about creating a nation of startup founders (though some of our kids may become that). It’s about equipping our children with the skills, mindset, and confidence to navigate an uncertain future where traditional career paths are disappearing and adaptability is everything.

Let me share why we’re teaching entrepreneurship to our kids, how we’re doing it, and what we’re learning along the way.

The Changing Economic Landscape Our Kids Will Face

The Traditional Path Is Disappearing

The world our children will enter is fundamentally different from the one we grew up in.

The Old Model:

• Get good grades
• Go to college
• Get a stable job with one company
• Work for 40 years
• Retire with a pension

The New Reality:

• The average person will have 12-15 jobs in their lifetime
• 65% of children entering primary school today will work in jobs that don’t yet exist
• Automation and AI will eliminate millions of traditional jobs
• The gig economy and freelancing are becoming the norm
• Career paths will be non-linear and require constant adaptation

The Entrepreneurial Skills Gap

Despite this changing landscape, our education system still largely prepares children for the old model. We teach them to follow instructions, memorize information, and succeed within existing structures.

But we’re not teaching them to:

• Identify problems and create solutions
• Take calculated risks
• Handle failure and iterate
• Think creatively about resources
• Build something from nothing
• Sell ideas and communicate value

These entrepreneurial skills aren’t just for business owners—they’re essential for anyone navigating the modern economy.

My Wake-Up Call

Ten years ago, I was working a traditional corporate job. I was good at it, climbing the ladder, checking all the boxes. Then the company restructured, my position was eliminated, and I was suddenly unemployed with a family to support.

That experience taught me something crucial: job security is an illusion. The only real security comes from having skills, adaptability, and the confidence to create opportunities rather than just waiting for them.

That’s when I started building my own ventures—first NM Football Academy, then Dad Spotlight, then The Raven Media Group. Each one taught me lessons I wish I’d learned as a child.

And that’s why I’m determined to teach my kids these lessons now, while they’re young and the stakes are low.

What Entrepreneurship Actually Teaches Kids

Entrepreneurship education isn’t about creating mini-CEOs. It’s about developing fundamental life skills through the lens of business thinking.

1. Problem-Solving and Critical Thinking

The Entrepreneurial Approach:

Entrepreneurs see the world through a problem-solving lens. Every frustration is a potential business opportunity. Every inefficiency is a chance to innovate.

How This Translates to Kids:

When my daughter complained that she couldn’t find affordable, quality soccer equipment for girls, I didn’t just buy her what she needed. I asked: “How could you solve this problem for other girls too?”

She researched suppliers, calculated costs, and created a plan to buy equipment in bulk and resell it to her teammates at a small markup. She didn’t end up executing the full plan, but the exercise taught her to think critically about problems and potential solutions.

Real-World Application:

This problem-solving mindset applies far beyond business:

• Struggling with a difficult teacher? Think creatively about solutions.
• Conflict with a friend? Approach it strategically.
• Challenging homework? Break it down and tackle it systematically.

2. Financial Literacy and Money Management

The Statistics Are Alarming:

According to recent studies, only 21 states require high school students to take a personal finance course. The result? Millions of young adults entering the workforce with no understanding of budgeting, investing, debt, or financial planning.

Through my work with A Money Geek, I’ve seen the devastating consequences of financial illiteracy—crushing debt, poor investment decisions, and inability to build wealth.

Entrepreneurship as Financial Education:

When kids run even a simple business, they learn:

• Revenue vs. profit (money coming in isn’t the same as money you keep)
• Fixed vs. variable costs
• Pricing strategy and value perception
• Cash flow management
• Reinvestment vs. taking profits
• Taxes and business expenses

My Son’s Lemonade Stand MBA:

Last summer, my son wanted to run a lemonade stand. Instead of just setting it up for him, we treated it like a real business:

Initial Investment: $50 from his savings for supplies
Pricing Strategy: We researched what neighbors would pay and calculated costs
Marketing: He made signs and went door-to-door pre-selling
Operations: He tracked every sale and expense
Analysis: At the end, we calculated his profit margin (38%) and discussed what he learned

He made $73 in profit over three weekends. But more importantly, he learned that business requires investment, planning, and hard work—and that the reward is proportional to the effort and strategy you put in.

3. Resilience and Handling Failure

The Failure Paradox:

We live in a culture that’s increasingly afraid of failure. We give participation trophies, shield kids from disappointment, and create environments where everyone succeeds.

But entrepreneurship is built on failure. Every successful entrepreneur has a graveyard of failed ventures, rejected pitches, and ideas that didn’t work.

Why This Matters:

Research shows that children who learn to handle failure develop:

• Greater resilience and grit
• Growth mindset (believing abilities can be developed)
• Lower anxiety about challenges
• Better problem-solving skills
• Higher ultimate achievement

Teaching Failure Through Business:

When my daughter’s first business idea (custom friendship bracelets) didn’t sell well, she was devastated. We could have rescued her, bought all the bracelets ourselves, or told her it didn’t matter.

Instead, we did a “failure analysis”:

• What went wrong? (Pricing too high, marketing too limited, product not differentiated)
• What did you learn? (Market research matters, understand your customer, test before investing heavily)
• What would you do differently? (Start smaller, get feedback earlier, adjust pricing)
• What’s next? (She pivoted to personalized bookmarks, which sold much better)

That “failure” taught her more than a dozen successes would have.

4. Communication and Persuasion

The Essential Skill:

Whether you’re pitching a business idea, interviewing for a job, negotiating a salary, or simply navigating relationships, the ability to communicate effectively and persuade others is crucial.

Entrepreneurship forces kids to develop this skill.

How It Works:

When kids run a business, they must:

• Explain their product or service clearly
• Convince customers to buy
• Handle objections and concerns
• Negotiate with suppliers or partners
• Present ideas to potential investors (even if it’s just parents)

My Experience at NM Football Academy:

Through the academy, I’ve watched kids develop incredible communication skills by “selling” their services as coaches or trainers to younger players. They learn to:

• Read their audience
• Adjust their message based on feedback
• Build trust and credibility
• Handle rejection professionally

These are skills that will serve them in every aspect of life.

5. Creativity and Innovation

Beyond Traditional Thinking:

Traditional education often has one right answer. Entrepreneurship requires creative thinking, innovation, and the ability to see possibilities others miss.

Fostering Creativity:

When we encourage business ideas, we’re asking kids to:

• Imagine what doesn’t exist yet
• Combine existing ideas in new ways
• Think outside conventional boundaries
• Challenge assumptions about how things “should” be done

Real Example:

My son noticed that many kids at his school forgot their lunch money. His solution? A peer-to-peer lending system where kids could borrow lunch money and pay it back the next day with a small “service fee” (essentially interest).

We had to shut it down (school rules), but I was impressed by his creative thinking about a real problem he observed.

6. Self-Confidence and Agency

The Empowerment Factor:

One of the most powerful aspects of entrepreneurship education is the sense of agency it creates—the belief that you can make things happen rather than just waiting for things to happen to you.

Research Backs This Up:

Studies show that children who engage in entrepreneurial activities develop:

• Higher self-efficacy (belief in their ability to succeed)
• Greater sense of control over their lives
• More proactive approach to challenges
• Stronger internal locus of control

What I’ve Observed:

Kids who’ve successfully run even small businesses carry themselves differently. They speak up more in class, take on leadership roles, and approach challenges with a “how can I solve this?” attitude rather than a “someone should fix this” mentality.

7. Work Ethic and Delayed Gratification

The Effort-Reward Connection:

When kids work for an allowance or get paid for chores, they learn that work equals money. But entrepreneurship teaches something deeper: that strategic effort, planning, and persistence create disproportionate rewards.

The Marshmallow Test Applied:

Remember the famous marshmallow experiment? Kids who could delay gratification (wait for two marshmallows instead of taking one immediately) had better life outcomes decades later.

Entrepreneurship is essentially a series of marshmallow tests:

• Invest money now for potential profit later
• Work hard on marketing before you see sales
• Reinvest profits instead of spending them immediately
• Build a customer base before raising prices

My Daughter’s Lesson:

My daughter wanted to use her business profits to buy a new video game immediately. I didn’t forbid it, but I showed her the math:

• Spend $60 now: You have a game
• Reinvest $60 in inventory: You could make $150 in additional profit, then buy the game and have $90 left

She chose to reinvest. Three weeks later, she bought the game and had money left over. That lesson in delayed gratification and compound returns was worth far more than the $60.

How We’re Teaching Entrepreneurship at Home

1. Start With Observation and Problem-Identification

The Exercise:

I regularly ask my kids: “What frustrates you? What do you wish existed? What could be better?”

This trains them to see the world through an entrepreneurial lens—not just accepting things as they are, but imagining how they could be improved.

Recent Examples:

• My son noticed that kids at football practice were always thirsty but the water fountain was far away. Business idea: Sell cold water bottles at practice.
• My daughter was frustrated that she couldn’t find age-appropriate books about female athletes. Business idea: Create a curated book list and sell it to parents and schools.

Not every observation becomes a business, but the practice of identifying problems and imagining solutions is valuable in itself.

2. Encourage Small-Scale Experiments

Start Small, Learn Big:

We don’t require elaborate business plans or significant investment. We encourage small experiments with low risk and fast feedback.

Examples:

• Selling baked goods to neighbors
• Offering lawn mowing or snow shoveling services
• Creating digital products (printables, guides, tutorials)
• Providing services (tutoring, pet-sitting, coaching)
• Reselling items (buying in bulk and selling individually)

The Learning Lab Approach:

I frame these as experiments, not permanent ventures. The goal is learning, not necessarily long-term business success.

3. Teach the Fundamentals Through Real Application

The Curriculum:

Rather than abstract lessons, we teach business concepts through actual application:

Market Research:

• Survey potential customers before investing
• Research competitors and pricing
• Identify target audience and their needs

Financial Planning:

• Create a simple budget (costs vs. expected revenue)
• Track all expenses and income
• Calculate profit margin
• Understand break-even point

Marketing:

• Create simple marketing materials
• Identify best channels to reach customers
• Craft compelling value propositions
• Test different approaches and measure results

Operations:

• Plan logistics and workflow
• Manage inventory
• Handle customer service
• Solve operational problems

My Role:

I’m not doing it for them—I’m coaching them through it. I ask questions rather than giving answers:

• “How could you find out what customers want?”
• “What would happen if you priced it at $5 instead of $3?”
• “How will people find out about your service?”

4. Normalize Failure and Iteration

The Failure Resume:

I’ve shared my own business failures with my kids—the ventures that didn’t work, the mistakes I made, the money I lost. This normalizes failure as part of the process.

The Pivot Practice:

When something doesn’t work, we don’t quit—we pivot. We ask:

• What can we learn from this?
• What would we do differently?
• Is there a different approach worth trying?
• Should we move on to a different idea?

Celebrating Intelligent Failure:

We actually celebrate well-executed ideas that didn’t work out. If my kids did good research, created a solid plan, executed well, and it still failed—that’s worth celebrating because they learned valuable lessons.

5. Connect to Real-World Entrepreneurs

Exposure Matters:

Through my work with The Raven Media Group and Dad Spotlight, I’ve connected my kids with real entrepreneurs who share their stories, challenges, and lessons.

What This Provides:

• Real-world context for what they’re learning
• Diverse examples of entrepreneurial paths
• Mentorship and inspiration
• Understanding that entrepreneurship comes in many forms

Local and Accessible:

We also highlight local entrepreneurs—the coffee shop owner, the freelance designer, the contractor who started his own business. Entrepreneurship isn’t just Silicon Valley startups; it’s everywhere.

6. Integrate Financial Literacy

Beyond the Business:

Through my work with A Money Geek, I’ve developed a framework for teaching kids financial literacy alongside entrepreneurship:

Ages 6-9:

• Basic concepts: earning, saving, spending
• Needs vs. wants
• Simple budgeting
• The value of money

Ages 10-13:

• More complex budgeting
• Introduction to investing
• Understanding debt and interest
• Opportunity cost

Ages 14+:

• Investment strategies
• Credit and credit scores
• Tax basics
• Long-term financial planning

The Business Connection:

Running a business provides concrete context for all these concepts. Suddenly, taxes aren’t abstract—they’re the money you owe on your profits. Investing isn’t theoretical—it’s deciding whether to reinvest in your business or save for something else.

7. Leverage Their Existing Interests

The Engagement Factor:

The best business ideas come from genuine interests and passions. I don’t force my kids into businesses they don’t care about.

Examples:

• My son loves football → coaching business for younger kids
• My daughter loves art → custom artwork and design services
• Both love gaming → creating gaming guides and tutorials

The NM Football Academy Model:

I built NM Football Academy around my passion for youth sports and development. My kids see that you can build a business around what you love, not just what makes money.

The Broader Benefits: Beyond Business Skills

Social and Emotional Development

Research shows that entrepreneurship education contributes to:

Emotional Intelligence:

• Understanding customer needs requires empathy
• Managing customer relationships builds social skills
• Handling rejection develops emotional resilience

Leadership:

• Taking initiative and responsibility
• Motivating others (if they hire help or work with partners)
• Making decisions and living with consequences

Collaboration:

• Working with partners or team members
• Negotiating and compromising
• Valuing diverse perspectives and skills

Academic Performance

Interestingly, studies have found that students engaged in entrepreneurial activities often show improved academic performance:

Why This Happens:

• Entrepreneurship makes academic concepts relevant (math for budgeting, writing for marketing)
• Develops executive function skills (planning, organization, time management)
• Increases motivation and engagement
• Builds confidence that transfers to academic challenges

My Observation:

Since my kids started their business ventures, their grades have actually improved. They’re more organized, better at managing their time, and more motivated because they see the real-world application of what they’re learning.

Life Skills for Any Path

The Universal Application:

Even if my kids never start another business after childhood, the skills they’re developing will serve them in any career:

For Employees:

• Intrapreneurship (innovation within organizations)
• Problem-solving and initiative
• Understanding business fundamentals
• Communication and persuasion

For Professionals:

• Building a personal brand
• Networking and relationship-building
• Managing finances and negotiating
• Adapting to change

For Life:

• Confidence and self-efficacy
• Resilience and adaptability
• Critical thinking and creativity
• Financial literacy and responsibility

Real-World Examples: Kids Who Started Young

The Success Stories

Moziah Bridges (Mo’s Bows):
Started making bow ties at age 9, appeared on Shark Tank at 11, built a multi-million dollar business by his teens. Now in his early 20s, he’s a successful entrepreneur and inspirational speaker.

Mikaila Ulmer (Me & the Bees Lemonade):
Started her lemonade business at age 4 after being stung by bees and wanting to help save them. By age 11, she’d secured a deal with Whole Foods. Now a teenager, she runs a successful beverage company.

Ryan Kaji (Ryan’s World):
Started reviewing toys on YouTube at age 3. By age 9, he was earning $29.5 million annually. Now runs a media empire including toys, clothing, and digital content.

The Lesson:

These aren’t just stories of kids making money—they’re examples of young people identifying opportunities, solving problems, and building something meaningful.

The Everyday Entrepreneurs

But you don’t need to build a million-dollar empire to benefit from entrepreneurship. Through Daddy Newbie, I’ve collected stories of kids running simple businesses:

• A 10-year-old who teaches piano lessons to younger kids
• A 12-year-old who buys and resells sneakers
• A 14-year-old who offers social media management to local businesses
• An 11-year-old who creates and sells digital art

These kids are learning invaluable lessons that will serve them for life.

The Challenges and How We Address Them

Challenge 1: Time Management

The Problem:
Kids are already busy with school, homework, activities, and social life. Adding a business can be overwhelming.

Our Solution:

• Keep businesses simple and manageable
• Set clear time boundaries (business activities only on weekends, for example)
• Teach prioritization and time management as part of the lesson
• Be willing to pause or stop if it becomes too much

Challenge 2: Parental Involvement vs. Independence

The Problem:
Finding the right balance between supporting your child and doing it for them.

Our Approach:

• I’m a coach, not a co-founder
• I ask questions rather than giving answers
• I let them make mistakes and experience consequences
• I provide resources and connections but let them do the work
• I celebrate their successes as theirs, not ours

Challenge 3: Legal and Safety Considerations

The Problem:
There are legal restrictions on child labor, safety concerns, and liability issues.

Our Approach:

• Keep businesses simple and low-risk
• Ensure adult supervision for any activities
• Understand local laws about child businesses
• Maintain appropriate insurance
• Prioritize safety over profit

Challenge 4: Managing Expectations

The Problem:
Kids (and sometimes parents) expect immediate success and get discouraged when it doesn’t happen.

Our Approach:

• Set realistic expectations from the start
• Focus on learning, not just earning
• Celebrate small wins and progress
• Reframe “failures” as learning opportunities
• Emphasize that building something worthwhile takes time

Challenge 5: School and Teacher Resistance

The Problem:
Some schools and teachers view entrepreneurial activities as distractions from academics.

Our Approach:

• Communicate with teachers about the educational value
• Ensure business activities don’t interfere with schoolwork
• Highlight how entrepreneurship reinforces academic concepts
• Share research on the benefits of entrepreneurship education
• Be willing to adjust if it’s genuinely impacting academics negatively

The Role of Failure: Our Most Important Lesson

Why We Celebrate Intelligent Failure

Through my own entrepreneurial journey—building NM Football Academy, Dad Spotlight, and The Raven Media Group—I’ve learned that failure is the best teacher.

My Failures:

• Products that launched too early (wasted 6 months)
• Multiple marketing campaigns that flopped
• Partnerships that didn’t work out
• Products that nobody wanted

What I Learned:
Each failure taught me something I couldn’t have learned any other way. And now, those lessons inform every decision I make.

Teaching Kids to Fail Forward

The Framework:

When my kids’ business ideas fail, we use this process:

1. Acknowledge the Disappointment: It’s okay to feel bad. Failure hurts.
2. Analyze What Happened: What were the assumptions? What went wrong? What was outside your control vs. what you could have done differently?
3. Extract the Lessons: What did you learn? What will you do differently next time?
4. Decide Next Steps: Pivot? Try again with modifications? Move on to a different idea?
5. Celebrate the Courage: You tried something. Most people never do. That’s worth celebrating.

The Future: Preparing Kids for an Entrepreneurial Economy

The Gig Economy and Portfolio Careers

By the time our kids enter the workforce, the traditional career path will be even more obsolete. They’ll likely have:

• Multiple income streams
• Freelance or contract work
• Side businesses alongside employment
• Frequent career pivots and reinventions

Entrepreneurial Skills Are Essential:

Even if they never start a formal business, they’ll need to:

• Market themselves and their skills
• Manage irregular income
• Identify opportunities and create value
• Adapt quickly to changing conditions
• Think strategically about their career

The AI and Automation Factor

As AI and automation eliminate routine jobs, the skills that remain valuable are inherently entrepreneurial:

• Creativity and innovation
• Complex problem-solving
• Emotional intelligence and relationship-building
• Strategic thinking
• Adaptability and learning agility

We’re Preparing Them for This:

By teaching entrepreneurship now, we’re giving our kids the skills that will be most valuable in an AI-driven economy.

The Values Dimension

Through my work at Dad Spotlight and Daddy Newbie, I emphasize that entrepreneurship isn’t just about making money—it’s about creating value and making a positive impact.

What We Teach:

• Ethical business practices
• Social responsibility
• Environmental consciousness
• Fair treatment of customers and partners
• Building businesses that solve real problems

The Long View:

I want my kids to build businesses (or careers) that align with their values, contribute to society, and create meaning—not just profit.

The Gift of Entrepreneurial Thinking

Teaching entrepreneurship isn’t about creating a generation of business owners (though some will be). It’s about giving our kids a framework for approaching life:

• See problems as opportunities
• Take initiative rather than waiting for permission
• Think creatively about resources and solutions
• Handle failure with resilience and learning
• Create value and communicate it effectively
• Build something meaningful

These skills will serve them whether they become entrepreneurs, employees, professionals, or anything else.

As fathers, we have a responsibility to prepare our children for the world they’ll actually face—not the world we grew up in. That world required obedience, conformity, and following established paths. The world our kids will navigate requires creativity, adaptability, and the courage to forge new paths.

By encouraging business ideas, we’re not just teaching them to make money. We’re teaching them to make their own way.

And that might be the most valuable gift we can give them.

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Don Jackson is a father, entrepreneur, and founder of NM Football Academy, Dad Spotlight, Daddy Newbie, and The Raven Media Group. He writes about modern fatherhood and works to equip parents with practical strategies for raising resilient, capable children. He also contributes to A Money Geek, helping families build financial literacy. Connect with him at linkedin.com/in/djackson33.

Getting Started: A Simple Framework for Parents

This Week:

1. Ask your kids: “What frustrates you? What do you wish existed?”
2. Listen without judgment or immediate solutions
3. Explore one idea together: “How could you solve that problem?”

This Month:

1. Help your child identify a simple business they could start
2. Create a basic plan together (what, who, how, how much)
3. Start small with minimal investment
4. Track results and learn together

This Year:

1. Support at least one business experiment
2. Teach financial literacy through real application
3. Normalize failure and celebrate learning
4. Connect entrepreneurship to their interests and passions

Long-Term:

1. Build entrepreneurial thinking into your family culture
2. Model entrepreneurship through your own ventures or side projects
3. Connect your kids with other young entrepreneurs
4. Celebrate initiative, creativity, and problem-solving

The goal isn’t to create the next tech billionaire. It’s to raise kids who see themselves as capable, creative, and empowered to make things happen.

Start today. The future they’re building begins now.