entrepeneurship

Why youth need entrepreneurial skills

• changing future of work
• job security uncertain
• Innovation is key
  • find a problem, and come up with a solution to it
• financial independence
• social and environmental impact
• confidence and leadership

Entrepeneurship is essential for real-world success.

Homeschooling is the perfect environment to nurture entrepeneurship.

How can we give our kids an entrepreneurial mindset, regardless of specific career goals?

If you are selling stuff for fun, you are an entrepreneur! Employers want to hire people who know how to sell.

Selling is a skill. Yo u and your kids can learn how to sell.

Entrepeneurship is a mindset: 📚 Everything is figureoutable

What do you already have in your hand?

• flexible schedule and personalized learning plan
• your child's interests and strengths
• your strengths and interests
• access to courses, mentors, and real world experience
  • you can learn a lot free online

You have unique skills and qualities that you can use. Even your interests can be used.

Reverse Engineer Lifestyle

What lifestyle does you kid want?

• financially independent?
• world traveler?
• large family or small?

Your kids have no idea what they need to do to create the lifestyle you're giving them.

Talk to your kids about what kind of lifestyle they want, and then help them figure out how to get there.

5 basics to develop the entrepreneurial mindset

1. Be a problem solved: encourage problem solving and creativity
2. Teach money management early
3. Start a small business or project
   1. Start a small business with your kid in middle school
   2. Start a micro-business
   3. Entrepeneurship teaches your kids to fail, and that's a good thing!
   4. Entrepreneurs are not people who don't fail, they're people who keep going
4. Introduce marketing and sales
   1. All of us here are in marketing. Have you had to market reading/math to your kid?
   2. No matter what field you're in, you're doing marketing and sales all the time
   3. If your kid can sell, they will NEVER be out of the job
   4. Teach your kid the persuasive essay
5. Model an entrepreneurial mindset

real life academic skills needed

Communication

• teach kids communication skills, and when it is good to be quiet
• teach your kids basic small-talk questions
• the art of chatting is a lost art
• teach your kids how to write well
  Critical thinking
• math and formal logic
• there are a lot of good strategy board games
  Creativity
  Collaboration
• your kids will be working with people from around the world
• siblings help with this

real life micro business

Products

• jewelry
• tshirts
• stock photos
• plants
  Services
• copywriting
• pet care
• teaching
• lawn care
• audio/video editing

turning passions into profits

1. Money loves speed
   1. You can turn your passions into money
      1. But realize that now you need to start PRODUCING to make income, and that can ruin the passion
   2. A lot of boomers own businesses
      1. They're just shutting them down. Why not go buy there business?
      2. Shared an example of growing a boomer business just by automating some things with tech, and adding social media. The business exploded with growth.
2. Just start
   1. Don't need to take out a lot of debt to get started
   2. Don't be afraid to look like an idiot
   3. You can reach a lot of people for little effort with social media

think outside the box

• Micro acquisition: there are a lot of blogs for sale. Buy and flip digital businesses
• AI powered side hustle: use automation tools to create income streams
• Niche subscription boxes: curating and selling to a passionate audience
• High ticket flipping: reselling premium items (e.g., vintage cameras and rare sneakers and real estate and RVs)
• Skill stacking: combine unique talents (e.g., coding + design = $)

take action today

1. Choose a business idea and plan
   1. What do you want to sell?
   2. Who is your audience? Find one person to market to, and market to the person.
   3. Pricing?
2. Register your business and handle legal basics
   1. Choose a business name
   2. Set up an LLC: lawsuit protection, about $500
   3. Get permits or licenses
3. Set up finances
   1. Open a business account
   2. Track expenses and keep a separate budget
   3. Consider using bookkeeping software (Wave, QuickBooks, spreadsheet)
   4. Consider getting a bookkeeper
4. Create an online presence
   1. Build a simple website
   2. Set up social media accounts
   3. Create a mailing list, you have more control over that than social media accounts
      1. But really, doesn't matter. Just start!
5. Find your first customers and start selling
   1. Promote to family, friends, and your community

how to make action with your kids

• Start a Mini Business Together Encourage your child to launch a simple banners. gonde, or digital art. Walk them through pricing, budgeting for materials, and calculating profits

• Teach Budgeting & Expense Tracking - Show them how to track income and expenses using a notebook, spreadsheet, or app. Help them understand the difference between revenue, costs, and profit.

• Set Up a Savings & Investment Plan - Have them allocate a portion of their earnings into savings, reinvestment (for business growth), and giving. Introduce them to simple investing concepts like compound interest.

• Discuss Taxes & Business Costs-Explain real-world costs like taxes, permits, and business expenses in an age-appropriate way. Let them see how money earned isn't just "all yours"-some goes back into the business or to taxes

• Explore Pricing Strategies - Teach them about supply and demand, competitive pricing, and value-based pricing Have them experiment with different prices to see how it affects sales

• Track Your Income-Write down all sources of money coming in (salary, business income, allowance Knowing exactly how much you have is the first step.

• List Your Expenses-Categorize your spending (needs vs. wants) and track everything from rent, groceries, and bile to entertainment and savings contributionis

• Set Spending Limits - Allocate a set amount for each category based on priorities. A common method is the 50/30/20 rule

  • 50% Needs (rent, utilities, food)
  • 30% Wants (eating out, entertainment)
  • 20% Savings & Debt Repayment

• Adjust & Stick to the Plan-Track spending throughout the month and make changes if needed. If you ovenspend in one ares, adjust another to stay balanced.

• Review & Improve-At the end of the month, check what worked and what didn't. Are you saving enough? Can you cut back xt month based on your goals!

Next steps

Commit to starting a business THIS YEAR!

True North self paced entrepeneurship class