"you need to nurture the entrepreneur in your child before giving them the money."
This is key imo. Even if it means starting small little business type things like selling candy at school. Teach them how to keep track of profit/losses/expenses, how to recognize opportunities and how to test the waters before jumping fully in. I do this with my 13 year old son. His most successful business so far has brought him $4500 in revenue.
I don't call it entrepreneur training or even training at all. He doesn't even really realize he is learning. It is something fun we do together and he has tasted what it feels like to make his own money. It has allowed him to save and buy his own things.
When he graduates from high school, I won't push him one way or another (college vs entrepreneurship). I will leave that up to him but I hope at least I will have given him a little taste of entrepreneurship so he can make his own choice when the time comes. I will also heavily encourage him to work a few jobs at other companies first. That in itself is a huge learning experience.
This is key imo. Even if it means starting small little business type things like selling candy at school. Teach them how to keep track of profit/losses/expenses, how to recognize opportunities and how to test the waters before jumping fully in. I do this with my 13 year old son. His most successful business so far has brought him $4500 in revenue.
I don't call it entrepreneur training or even training at all. He doesn't even really realize he is learning. It is something fun we do together and he has tasted what it feels like to make his own money. It has allowed him to save and buy his own things.
When he graduates from high school, I won't push him one way or another (college vs entrepreneurship). I will leave that up to him but I hope at least I will have given him a little taste of entrepreneurship so he can make his own choice when the time comes. I will also heavily encourage him to work a few jobs at other companies first. That in itself is a huge learning experience.