As parents, we all share a common desire for our children to grow into resilient, self-reliant individuals capable of facing life's challenges head-on. In this article, we will explore innovative parenting tips and strategies to nurture an entrepreneurial mindset in our kids, paving the way for them to become problem solvers and confident decision-makers.

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Shifting from Allowances to Entrepreneurial Ventures

How do we raise self-reliant kids who have initiative, resilience, and problem-solving skills? This question has plagued parents for generations. In the pursuit of answers, the conventional wisdom of providing allowances is being reconsidered. Instead, a transformative approach involves encouraging children to embark on entrepreneurial ventures, offering them not just financial independence but a myriad of valuable life lessons.

Crafting a New Path:
In the traditional parenting landscape, allowances have been the go-to method for providing children with financial resources. However, a paradigm shift suggests that children can derive more profound benefits from initiating their own business ventures. Take my three boys, for example. By creating and selling bracelets, they not only earned their spending money but also gained insights into financial literacy. This hands-on experience allowed them to comprehend the value of a dollar, a lesson more impactful than any allowance.

Life Lessons through Entrepreneurship:
Crafting and selling products is just the tip of the entrepreneurial iceberg. Through this process, children acquire essential life skills, such as public speaking and persuasion. As my boys ventured into the world of bracelet-making, they had to communicate effectively to sell their creations. This practical experience served as a foundation for building confidence, which is a critical skill for navigating the complexities of adulthood.

Financial Literacy at a Young Age:
While allowances may provide children with a set amount of money, they often miss out on the crucial aspect of financial literacy. Entrepreneurial ventures, on the other hand, expose kids to the intricacies of budgeting, saving, and investing. My boys learned firsthand how hard work translates into financial rewards, a lesson far more impactful than simply receiving a set sum every week.

Encouraging Independence and Responsibility:
Entrepreneurship fosters a sense of personal responsibility and ownership. The practice of making children pay for their wants cultivates a deep understanding of the effort required to fulfill desires. This method, illustrated by my son purchasing his first bike with "daddy dollars," instills a sense of achievement and self-sufficiency. When children take on the responsibility of acquiring the things they desire, it sparks a shift in mindset, encouraging independence.

Beyond Material Prosperity:
Reducing material prosperity challenges the prevalent notion of overindulging children with excess. Frederick Douglass's timeless insight holds true – placing a child beyond the reach of necessity and surrounding them with luxury and ease makes them helpless. Entrepreneurship, with its inherent challenges and uncertainties, ensures that children stay hungry, motivated by a genuine desire for something. By allowing them to experience a degree of want, parents motivate their children to take meaningful actions.

A man reading a parenting book.
A man reading a parenting book.

Teaching Financial Responsibility

In the pursuit of raising resilient and self-reliant kids, the conventional approach of providing allowances is being reevaluated. Instead, an entrepreneurial mindset is emerging as a transformative method, one that instills financial responsibility and ownership in children. By encouraging them to pay for their wants, parents lay the groundwork for a deeper understanding of the value of money. You can check out this book on Amazon: Parenting Toolbox.

Rooted in Entrepreneurial Principles
Entrepreneurship, at its core, is about personal responsibility and ownership. Shifting from the traditional practice of providing allowances to making children pay for their desires aligns with these fundamental principles. This adjustment not only cultivates financial awareness but also establishes a sense of accountability from a young age.

Deeper Understanding of Money's Value
Entrepreneurial ventures provide children with a hands-on education in financial responsibility. Unlike allowances, which may foster a sense of entitlement, making children earn their spending money fosters a profound appreciation for the value of every dollar. This understanding is a crucial life skill that extends far beyond the realm of monetary transactions.

Saving for Big Goals
A notable example of fostering financial responsibility is seen in encouraging children to save for significant expenses, such as purchasing their own airline tickets for a family trip. This hands-on approach to saving for a goal teaches children the importance of delayed gratification, strategic planning, and perseverance. These are essential qualities that go beyond monetary aspects and contribute to a resilient and goal-oriented mindset.

Curbing Excessive Prosperity

Amidst the prevailing ethos of abundance, a critical shift is underway in parenting strategies. The conventional practice of providing children with excessive material prosperity is being questioned. Recognizing that overindulgence may inadvertently foster entitlement and self-centeredness, parents are seeking alternative approaches to nurture purposeful and grounded individuals.

Abundance in Moderation
While providing for our children's needs is a fundamental parental responsibility, an excess of material possessions may have unintended consequences. Striking a balance between meeting necessities and curbing excess becomes crucial. This moderation helps children appreciate the value of what they have, fostering gratitude and a more grounded perspective on life.

The Wisdom of Frederick Douglass
Frederick Douglass's timeless insight reverberates through generations, challenging the prevailing parenting norms. Placing children beyond the reach of necessity and surrounding them with luxury, as Douglass observed, can potentially render them helpless. This wisdom prompts a reevaluation of the cultural tendency towards overindulgence, emphasizing the importance of instilling resilience through facing challenges and earning rewards.

Motivating Action Through Limitation
Limiting excessive material prosperity serves as a powerful motivator for children to take action. When they don't have everything handed to them on a silver platter, children are more inclined to seek opportunities, set goals, and work towards them. This limitation becomes a catalyst for the cultivation of a strong work ethic, determination, and a sense of purpose.

Fostering Gratitude and Contentment
Exposing children to the concept of limited material abundance fosters gratitude and contentment. Rather than constantly acquiring new possessions, children learn to find joy in experiences, relationships, and personal growth. This shift in focus encourages a mindset that values the intangible aspects of life, promoting emotional well-being and resilience.

Encouraging Delight-Directed Learning

In the journey of parenting, a paradigm shift is taking place, emphasizing the importance of delight-directed learning. Entrepreneurs, known for their lifelong learning ethos, inspire a new approach where children are encouraged to pursue knowledge in areas that captivate their curiosity. This strategy becomes a powerful tool in fostering a passion for learning and creativity.

Lifelong Learning as a Foundation
Entrepreneurs exemplify the concept of lifelong learning, continually seeking knowledge to practically apply in their ventures. Acknowledging this principle, parents are steering away from traditional learning structures and instead focusing on cultivating a foundation of curiosity that propels children into a lifelong journey of exploration and discovery.

Tailoring Education to Interests
Encouraging children to pursue learning in areas that genuinely intrigue them tailors education to their unique interests. This personalized approach not only makes learning more engaging but also taps into their intrinsic motivation, laying the groundwork for a lifelong love for acquiring new knowledge.

Isaiah's Passion for Drawing
A real-life example is found in my son Isaiah, whose passion for drawing led him to spend countless hours honing his skills. Isaiah's dedication and delight-directed learning approach resulted in a notable achievement—the prestigious award from the Smithsonian Museum of African Art. This showcases the transformative power of allowing children to follow their passions and immerse themselves in areas that bring them joy.  Check out these parenting books on Amazon:

Raising Good Humans.

How to Talk So Kids Will Listen & Listen So Kids Will Talk.

The 5 Principles of Parenting.

Raising Mentally Strong Kids.

Nurturing Creativity and Self-Expression
Delight-directed learning nurtures creativity and self-expression. When children are given the freedom to explore topics that genuinely interest them, they develop a sense of ownership over their education. This approach goes beyond rote memorization, fostering critical thinking skills and a creative mindset essential for navigating the complexities of the modern world.

A man reading a book for a baby.
A man reading a book for a baby.

Letting Them Solve Their Own Problems

In the realm of parenting, a transformative shift is occurring as parents draw inspiration from the problem-solving prowess of entrepreneurs. While the instinct to intervene and solve children's problems is natural, a new approach is emerging—encouraging children to tackle challenges independently. This not only fosters independence but also cultivates resilience, essential qualities for navigating the uncertainties of adulthood.

Entrepreneurs as Problem Solvers
Entrepreneurs, known for their adept problem-solving skills, inspire a fresh perspective on parenting. Recognizing that the ability to navigate challenges is a vital life skill, parents are shifting from being constant problem-solvers for their children to empowering them to find their solutions. This approach lays the groundwork for resilience and self-reliance.

Embracing Independence Through Challenges:
Allowing children to tackle challenges on their own is a pathway to embracing independence. While it might be tempting for parents to step in, providing the space for children to grapple with difficulties helps them develop problem-solving skills, adaptability, and a sense of autonomy. These experiences become foundational in shaping their confidence to face future uncertainties.

Discovering New Capabilities
When children are allowed to solve their problems, they discover new capabilities within themselves. Each challenge becomes an opportunity for personal growth and insight. This process not only builds resilience but also helps children recognize their own strengths and abilities, contributing to a positive self-image.

Preparation for Adulthood
The hands-on problem-solving approach serves as a powerful preparation for adulthood. As children navigate challenges, make decisions, and overcome obstacles, they develop the skills necessary for the uncertainties of the adult world. This proactive stance in parenting equips them with the confidence to face life's complexities with resilience and resourcefulness.

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Frequently Asked Questions FAQs

What are some effective parenting tips for managing children's behavior?

Consistent discipline, positive reinforcement, and setting clear expectations can help manage children's behavior effectively. Additionally, active listening and spending quality time with your children can strengthen your bond and understanding.

How can I balance work and parenting responsibilities?

Time management, prioritization, and setting boundaries are key. It's also important to communicate openly with your employer about your needs as a parent to create a supportive work environment.

What are some ways to promote positive child development?

Providing a loving and supportive environment, encouraging independence, and fostering a sense of curiosity and creativity can promote positive child development. Setting a good example and being involved in your child's life are also important factors.


In the ever-changing landscape of the modern world, raising children with an entrepreneurial mindset is a forward-thinking approach. By adopting these strategies, we create an environment at home where our children can challenge their beliefs, step outside their comfort zones, and develop the skills necessary for a fulfilling and successful life. Embrace the journey of empowering your kids to think and act entrepreneurially, setting them on a path towards a bright and resilient future.