Top 10 Tips for Encouraging Your Child’s Entrepreneurial Spirit
Fail fast. Fail forward. Keep going. Lessons to learn.
Before starting, I wanted to share that the History of Handbag (Parts 1, 2, and 3) will continue next week. However, this golden nugget finally came out on Real Simple, where I was a contributor, so if you are hungry for more of this information - you can get the bite-sized version. It’s still so good.
To celebrate my book Savvy Suzanna’s Amazing Adventures in Handbags pre-launch on Amazon, I thought it was important to tackle this topic (even though we have eight months before it comes out, and I believe in early promotion...) As a parent and a professor of entrepreneurship, I’ve had the privilege of guiding aspiring minds both at home and in the classroom. Balancing these roles has taught me some incredible lessons, not just about nurturing potential in others but also about rediscovering my own passion for innovation and resilience. Here are some of the most impactful insights I've gathered about raising young entrepreneurs and how they can apply to our everyday lives.
1. Find Inspiration in Everyday Life
One thing I emphasize to my students and my own kids is that inspiration is all around us. I remember the countless times my kids’ ideas came from something as simple as playing with household items or during family walks where we discussed imaginative stories and business ideas. Encouraging children to stay curious and look for inspiration in the world around them is a powerful way to ignite creativity. As both a parent and educator, it reminds me to keep that sense of wonder alive in my work.
2. Encourage Resourcefulness Over Perfection
In both the classroom and at home, I've seen the magic happen when people are encouraged to make the best of what they have. My children have often come to me with ideas that require elaborate resources, and teaching them to think creatively and use what’s already available has been a game changer. This lesson has shown my students that entrepreneurship isn't about waiting for the perfect conditions—it’s about making progress with what’s at hand. This approach keeps the momentum and reinforces that innovation often comes from limitations.
3. Embrace Setbacks as Part of the Process
As a professor, I stress that setbacks are essential for growth, and I’ve found myself applying this lesson at home. I remember when one of my kids’ school projects didn’t turn out as planned, and I used it as an opportunity to talk about why failure isn’t the end but a step in the process. Whether in a business venture or in life, resilience is built by confronting challenges head-on. Sharing my own stories of failed ventures or classroom anecdotes has helped normalize this idea for my kids, teaching them to see setbacks as valuable learning opportunities. Fail fast. Fail forward.
4. Foster Confidence and Communication Skills
Throughout my teaching career, I've seen students flourish when they learn to share their ideas with confidence. I apply the same principle at home by encouraging my kids to talk about their ideas and projects with pride. This isn’t just about boosting their self-esteem; it’s a practical skill that opens doors. I’ve seen firsthand that opportunities often follow when kids and adults talk about what excites them. These conversations at home have inspired me to be more vocal about my work, reinforcing that belief in oneself can be a catalyst for unexpected growth.
5. Leading by Example
Being an entrepreneur myself has shown me that kids learn best by example. When my children see me navigating challenges, pushing through tough times, or celebrating wins, they absorb those lessons. Sharing my professional experiences openly—both the victories and the missteps—has helped them understand that success is rarely a straight line.
6. Practicing Resourcefulness and Creativity
Over the years, I’ve taught my students to be inventive problem-solvers, and this mindset has naturally spilled into my parenting. When my kids face obstacles, I encourage them to brainstorm instead of giving them a solution. This has empowered them and reminded me of the importance of practicing what I teach. Research is free and should never be underestimated.
7. Reinforcing the Value of Planning and Budgeting
As a professor, I spend much time discussing financial planning with my students. At home, I've introduced my kids to simple concepts like budgeting for their small projects, teaching them that managing resources wisely is key to any venture. It’s been a great reminder to stay disciplined with my own planning, both professionally and personally.
Listen to Alison Bringé from Launchmetrics on the Handbag Designer 101 Podcast
8. Celebrate the Process, Not Just the Result
One of the most impactful lessons I've learned, both as a parent and a professor, is the importance of celebrating the journey. Too often, we focus solely on the outcome, whether it’s a business pitch, a project, or a school achievement. At home, I make it a point to acknowledge my kids' efforts and their dedication to their work, regardless of whether they hit the target they were aiming for. In the classroom, I emphasize to my students that learning happens in the process—the brainstorming sessions, the late-night revisions, and the countless drafts before something feels right. Recognizing and celebrating this effort has reinforced the importance of enjoying the journey and fostering a mindset that values perseverance and personal growth over mere results.
9. Staying Open to Learning from My Kids
One of the most unexpected lessons I’ve learned is how much my kids teach me in return. Watching their unfiltered creativity and willingness to take risks without overthinking reminds me of the raw enthusiasm that often fades in adulthood. It pushes me to bring that energy back into my own projects and classroom teachings.
10. Supporting Your Kids in Their Entrepreneurial Dreams
Supporting kids in their endeavors is about more than helping them achieve short-term goals—it’s about equipping them with life skills that will serve them in whatever they choose to pursue. For me, guiding young minds, whether at home or the university, has been just as enriching as it has been for them. It has rekindled my own passion for exploration, reinforced my resilience, and reminded me that learning is a lifelong adventure. This is what made me want to make sure Savvy Suzanna happened.
So, whether you’re a parent, educator, or entrepreneur, I encourage you to dive into this journey wholeheartedly. Celebrate each small win, embrace the setbacks, and cherish the lessons. After all, nurturing others’ growth has a wonderful way of fueling our own.
