Raising the Next Generation of Entrepreneurs
You’re never too young (or too old!) to chase your dreams. We chatted with Monica and her sons Rex and Evan to hear about their successful, growing business at Painted Tree!
Monica’s Story
Beginning in local farmers’ markets, Monica sold freeze-dried candies. Seeing an opportunity to teach her children valuable lessons about entrepreneurship, Monica began including her two sons, Rex and Evan! They gained popularity at the farmer’s market, but, according to Monica, Painted Tree’s presence in the Houston market quickly became an attractive option to grow their business further. Frambles and Gooz first opened shop at Cinco Ranch, selling unique and nostalgic candies for kids and adults.
Now, Rex and Evan take ownership over certain elements of the business like labeling, taste testing, product selection, and even space design! In Monica’s words:
“The one thing that’s really awesome about being a kid-owned business is that it teaches them lessons on entrepreneurship that you can’t even get in college. This has been an incredible, hands-on experience that hasn’t taken away from their studies!”
Since beginning with Painted Tree, Rex and Evan say they’ve made friends with other shop owners’ kids, and they love building those connections.
Currently, Frambles and Gooz is open in four Painted Tree locations across Texas. When asked about his favorite part of owning a business, Evan said he loves meeting new people and taste-testing candy!
“They make friends when they do it. For them its been a really positive experience” - Monica
Also important to Monica is the value of supporting local businesses, something made very simple with Painted Tree.
“They’re learning at a really young age that where you shop matters; ‘shopping local’ means that all of the money we earn goes back into the community.”
If you have young children yourself, consider the value of introducing them to your business! Getting your kids started in entrepreneurship is a great way to teach them important life skills while also having some fun.
We’ve seen that one of the best ways to get kids interested in entrepreneurship is to let them see firsthand how businesses work. This can be done by taking them on field trips to businesses, letting them talk to entrepreneurs, or even having them help out with a family business. Check out some possible steps below for how to get your kids started!
1. Play business-themed games together.
Games are a great way to get kids engaged and excited about learning new things. And there are plenty of business-themed games out there that can teach kids the basics of running a business. Monopoly is probably the most well-known, but there are also many others that are geared towards kids, such as The Game of Life, Business Venture, and Startup Fever.
2. Have them read books about entrepreneurship.
If your kids are reluctant to get too hands-on with business just yet, you can start by having them read books about entrepreneurship instead. This will give them a chance to learn about what it takes to be a successful entrepreneur without actually having to run a business themselves. Some great options include The Lean Startup, The Millionaire Fastlane, and Rich Dad Poor Dad.
3. Help them start their own business.
One of the best ways to get kids interested in entrepreneurship is to actually help them start their own business. This can be something as simple as a lemonade stand or a neighborhood yard sale. But it will give them a taste of what it’s like to be an entrepreneur and run their own business. And who knows, they just might be successful enough to keep the business going even after you’ve moved on to other things!
4. Encourage them to enter entrepreneurship contests.
There are plenty of entrepreneurship contests out there for kids of all ages. These can be a great way to get kids interested in entrepreneurship and also teach them some valuable business skills. Many of these contests also come with prizes, which is an added incentive for kids to participate.
5. Talk to them about your own entrepreneurial journey.
If you’re an entrepreneur yourself, one of the best ways to get kids interested in entrepreneurship is to simply talk to them about your own journey. Share your successes and failures with them and encourage them to ask questions. This will give them a better understanding of what it takes to be an entrepreneur and how rewarding it can be.
Now that we’ve looked at a few ways to get your kids started in business, let’s consider the ways your kids can grow through entrepreneurship!
It will teach them how to take risks. One of the most important aspects of entrepreneurship is being willing to take risks. If you're not willing to take risks, it is hard to achieve anything great. Teaching kids about entrepreneurship will help them understand that taking risks is sometimes necessary in order to achieve success; when they do find success after taking a measured risk, they will be all the more grateful!
It will give them a sense of ownership. When kids are involved in starting and running their own businesses, they'll have a sense of ownership and responsibility that they might not otherwise have. This can be a great way to teach them the value of hard work and dedication but can also make them feel proud of the problems they solve and goals they reach. This sense of ownership can also help instill a strong work ethic in them at an early age.
It will help them develop important life skills. As we know, running a business requires a lot of different skills, from financial management to marketing to customer service. By teaching entrepreneurship to kids, you'll be helping them develop important life skills that they can use in any number of different situations. From hard skills like writing a business plan and keeping the books to soft skills like managing business relationships, your kids will benefit greatly from the lessons they learn through entrepreneurship.
It will boost their confidence. Seeing themselves achieve success in their businesses will help kids boost their self-confidence and feel good about themselves. This can carry over into other areas of their lives, such as school and relationships.
It can help them build their financial future. There's no denying that financial success is a great goal to strive for in life. There are many ways to achieve it, but one of the best ways to achieve financial success can be to start your own business. If you're thinking about starting a business, there's no better time to do it than when you're young. That's because kids who engage in entrepreneurship at an early age tend to be more successful financially than their peers who don't start businesses. Starting a business can give them a head start on building their careers. They'll gain valuable experience and knowledge that will help them succeed in any field they choose to pursue.