How To Help Your Kids Develop An Entrepreneurial Mind

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Every parent hopes they have a genius on their hands, let’s be honest! But what if you could encourage your child’s brilliant mind to get them started early in life with an entrepreneurial attitude? That’s exactly what the folks at www.teiyu.co.uk offer. Teiyu use a storytelling approach to build an entrepreneurial mindset in children…and you can find out more below.

Because they believe, as we do, that it’s possible to help nourish kids in developing an overall leadership attitude and skillset.

  1. Teach Them About Money Early On
  2. Encourage A Leadership Attitude
  3. Inspire Creative Thinking
  4. Help Them Develop Excellence 
  5. More Ways Kids Can Make Money

Teach Children About Money Early On

Help your kid make millions by teaching them early on

At school, we hardly get any financial education at all. Sure, we’re taught maths – but there’s no real insight into how percentages (interest rates) and sums (budgeting) really impact our lives outside of the classroom.

Teaching your children about money early in their development doesn’t mean giving them lectures, either! You could start by demonstrating the importance of saving, by giving pocket money each week. For older children, what about showing them how bills work – raise their pocket money allowance, but take some back to pay ‘bills’ (you can sneak it into a savings account for them, if you like!).

Another way to encourage children to think about money is to include them in financial activities. When you go grocery shopping, for example, take a calculator. Tell them your total budget and ask them to monitor whether you’re sticking to it. Or, if you go to a restaurant, give them a budget to spend on their meal and see what they can get with it from the menu.

When they understand how money makes the world go round, it’s much easier to encourage them to consider how they want to make their own money. You can, for example, exchange a few pounds for chores they complete around the house. For older children, encourage them to take on a part-time job – that could be making and selling crafts, taking on a paper round (they still exist!), or helping older neighbours with their shopping or gardening.

 

Encourage a Leadership Attitude

When your child understands how money works, it’s a good time to start encouraging their entrepreneurial mindset. This starts with a leadership attitude!

Teiyu is a great resource for children who want to get ahead. It’s a storytelling strategy about a lizard called Teiyu, who helps children solve problems in the land of Teguria. It’s a positive, encouraging experience that helps children embrace problem-solving strategies on their own.

Other ways to encourage a leadership attitude is to volunteer with community groups, or attend other groups such as Scouts or an after-school sports team. This helps develop important skills like communication, teamwork, and delegation – as well as helping your child identify their own strengths along the way.

 

Inspire Creative Thinking

Inspire creative thinking to help your kid make millions

Another key attribute to help your kid make millions in the future is to encourage creativity. Abstract problem-solving is a perfect way to help your child identify unique ways to reach a solution. You can do this through techniques such as the Teiyu stories, as well as showing them real-world problems that need a solution.

For example, let’s say you have an arts and crafts afternoon ahead of you. Let your children build a castle from a shoebox and cardboard – but tell them it has to do certain things! Does the drawbridge go up and down? Is there a secret entrance? Things like this will help your child take instruction but think creatively to reach the solution.

Creative thinking when it comes to money is another step towards an entrepreneurial mindset. For older children, you could ask what they want to buy with their pocket money. You can work out with them how long it will take to save up for it – and get them to find ways they could make more money to save faster. This might be, for example, selling some of their old clothes and toys that they’ve grown out of at a car boot sale. When they see how much faster they can get the thing they want to buy, if they make money as well as save it, you’re encouraging creative thoughts around money from a young age.

 

Help Your Child Develop Excellence

Being brilliant at something is the most notable attribute of all entrepreneurs. For some, it might be technological savvy. For others, they could be great with social skills. Help your child find their passion – and the skills they’re great at – and nurture them.

This will help them to develop excellence in these habits, skills, or hobbies over time. As they become confident in these areas, it’s easier for them to identify their strengths and how they might be able to use them to make money through an entrepreneurial mindset. One great example of this is the 12-year-old investor we spoke to on the MoneyMagpie podcast! He realised very quickly that understanding the stock market was a great skill, and he nurtured it, and is already a leading example to other children about how to invest wealth!

 

Special offer

Right now, MoneyMagpie readers are able to get an exclusive 50% off the Happy Pack. All you have to do is use the discount code HOPE50 at the checkout.

 

More Ways Kids Can Make Money

There are lots of ways to include your children from an early age when it comes to understanding (and making) money. Here are a few more ideas:

The post How To Help Your Kids Develop An Entrepreneurial Mind appeared first on MoneyMagpie.

Pfizer’s COVID-19 vaccine was 100% effective in a trial of 12- to 15-year-olds, paving the way for kids to get it in the US and Europe

Pfizer BioNTech COVID-19 vaccine
Pfizer BioNTech COVID-19 vaccine

  • Pfizer-BioNTech’s COVID-19 vaccine was highly effective in late stage trial of more than 2000 participants.
  • Pfizer said that the vaccine was “well tolerated” in this age group.
  • Pfizer’s CEO said Wednesday that he hopes to get kids vaccines by September 2022.
  • See more stories on Insider’s business page.

Pfizer-BioNTech’s COVID-19 vaccine was highly effective at preventing COVID-19 infection in kids aged 12 to 15 in late-stage trial of more than 2000 participants, the company announced Wednesday.

“In participants aged 12-15 years old, [Pfizer’s COVID-19 vaccine] demonstrated 100% efficacy and robust antibody responses, exceeding those reported in trial of vaccinated 16-25 year old participants in an earlier analysis and it was well tolerated,” Pfizer said in a press release.

To calculate efficacy, the company compared the number of people who caught COVID-19 in the vaccinated group with the number of people who got infected with the virus in the placebo group.

A relatively small number of cases lead to the 100% efficacy – 18 people out of 1,129 in the placebo group caught COVID-19 compared to no-one of the vaccinated group of 1,123. The end point of the trial was COVID-19 infection generally, so we don’t know the severity of disease that Pfizer’s vaccine prevented. In adult trials, Pfizer looked at whether its vaccine prevented COVID-19 with symptoms to get the 95% topline results.

Pfizer said side effects were similar for 12 to 15 year olds as for those aged 16 to 25, but did not detail what they were. Generally, side effects of Pfizer’s vaccine last for a couple of days and includes: fevers, headache, tiredness and pain, redness or swelling around the injection site.

As it stands, Pfizer’s two-dose vaccine is authorized in 66 countries worldwide for those over 16 years old, including the US.

So far, more than 26.7 million adult Americans have been fully immunized with two doses of Pfizer’s vaccine, according to the Centers for Disease Control and Prevention (CDC).

Pfizer plans to submit the data to the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) in order to request for emergency authorization of the vaccine.

Albert Bourla, Pfizer’s chief executive officer, said: “We plan to submit these data to FDA as a proposed amendment to our Emergency Use Authorization in the coming weeks and to other regulators around the world, with the hope of starting to vaccinate this age group before the start of the next school year.”

Pfizer started trials in 5 to 12 year olds on March 28. The company said Wednesday that it plans to initiate trials in 2-5 year old next week.

The story is developing. Check back for details.

Read the original article on Business Insider