Teaching Your Children to Become Entrepreneurs

Article excerpt

Parents encourage their children to study hard so they can get good jobs that will offer satisfaction and financial security.

But parents fail their children by not encouraging them to be entrepreneurs as well, says Emmanuel Modu, author of "The Lemonade Stand - A Guide to Encouraging the Entrepreneur in Your Child."

"It's important for kids to know they can become employers and not just employees," said Modu.

"Parents who raise their children without opening their minds to the possibility of running their own businesses or organizations are sentencing their kids to a life of what I call `corporate bondage,' " he writes.

"A person is a victim of corporate bondage when he or she has swallowed the idea that working for someone else until retirement is the only option."

Modu, an executive with Citibank who also runs The Center for Teen Entrepreneurs, in Newark, N.J., says parents too often fail to teach their children something as basic as how the economic system works.

"I don't see how we can expect young people to grow up in this society, which for better or worse, values money, without teaching them entrepreneurship," he said.

"One of the avenues we're told to follow is to just go to school and get a job," he said. "The other way is to make your own way and become self-reliant. That's never explained."

In his book, published by Gateway Publishers (800-438-8336), Modu argues that children should be encouraged to become entrepreneurs from an early age. …