Don't Underestimate or Forget To Teach Your Kids as You Build Your Fortune

This is very easy to do!  Sometimes we get so focus on our projects that we neglect to use this entrepreneurship adventure as an EXTREMELY valuable life lesson. This article was inspired by my 12 year old son Reggie.  His teacher called me on Friday to tell me about a discussion she had in her class and my son's response.  I was so blown away that I called her back to ask her the EXACT words so that I could share it with you.

Ms. Washington: Reggie, what kind of career do you think you will pursue?

Reggie: I am not sure what I will study in college yet but I know that it will have something to do with animals

Ms. Washington: That's cool!  So, you mean like you want to be a vet?

Reggie: No, I think I want to do something with traveling and making people aware of endangered species and animal cruelty.

Ms. Washington: Ok, but what are you going to do to make a living?

Reggie: Oh I will have businesses in place with residual income so that I can just not worry about money and enjoy what I am doing!

Are you kidding me? All I could think of was the many conversations my son and I have had that would be the source of a response like that. I felt proud that I was able to teach him something that I was still learning myself. I took one hand to opposite shoulder and gave myself a pat.  Parenting does not come with an instruction manual so if you notice something you did right, acknowledge it!

When you have a home based business always keep in mind that it is a family affair.  You are building a legacy and a lifestyle that includes everyone.  Your children, even if you don't take the time out to teach them "how-tos"  run the possibility of  being very different from his/her peers.  They may unconsciously feel entitled to control their time.  They may have trouble with authority and may come off as a know-it-all in the workplace and very well may be smarter then their superiors.  It is vital to their success that you equip them to cope in the world and the options they have that they will not learn in the traditional education setting.  The last thing you would want is to have children that are psychologically unemployable without the knowledge to do something about it!

Here is a list of tips for the parents that have home based businesses and want to incorporate their children:

1. Read Rich Dad, Poor Dad, Rich Kid, Smart Kid.... and any other book by Robert Kiyosaki! No questions.  Once you read it, you will know exactly why I recommend it.

2. Don't be afraid to speak business lingo to your children.  They are much smarter then you think.  Take time to answer questions

3. Explain to your kids that sometime you may seem busy but you are doing it so that family can be closer and have a lot of fun!  Then immediately do number #4

4. Find a wall for you dream board. Get all kinds of magazines (don't forget the luxury ones!) and have them make their own dream board.  If the kids are small flip through them and cut out the ones that they recognize. My 4 year old's dream board is filled with super hero toys!  Once every one is complete combine them and put them on the wall

5. Ask their opinion about things keeping it age friendly.  Ask them which profile photos they like, which templates or colors for a website.

6. (Very important) ALWAYS: Refer to the business as theirs.

7. Get a jar. Ask them something really fun they want to do. Label the jar that activity. (i.e. Beach Trip) Allow them to add money and make sure they understand the connection between the family's home business and the jar

8. Give them small task to do.  Let them help you organize things, write on your wipe easy board. For the older kids... pay them.  It is their business and they should experience earning their share.

9. Plan special time for family and do not intertwine it business time.

Just like a team in a business whatever you do, your team will duplicate. Your kids are your team and you are preparing them lead their own teams in their own families.  The legacy will then live on and you can truly change your family tree.

Oh and 10.)  HAVE FUN NO MATTER WHAT!!!

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