The Ideal Characteristics and Skillsets for Tomorrow's Entrepreneurs

I started trying to identify what I wanted in my children. Yes, we want our kids to grow up as good citizens caring for the world, but I want my kids to be able to demonstrate specific characteristics.

I want my kids to

• Be financially literate (in addition to what they learn in school)
• Understand the world of business.
• Have an Entrepreneurial Mindset.

They may or may not start their own companies in future, but I want them to understand what it means to start & run a business and be financially strategic.

Let me clarify what I mean by Entrepreneurial Mindset.

Essential Characteristics of a Budding Entrepreneur:

1. Curiosity: I want my kids to have an innate desire to understand the world around them. A curious mind can lead to innovative solutions in the business world.
2. Resilience: I want my kids to be able to handle the ups and downs in life (both in their personal and professional lives). Building resilience ensures that kids can weather the storms and bounce back stronger.
3. Self-confidence: I want my kids to believe in themselves... but not become arrogant. Nurturing self-confidence allows a child to take calculated risks, a critical component of a start-up. Being self-confident is essential not only within a business environment but also in talking to a stranger about something or asking for help!
4. Empathy: I want my kids to be able to understand and resonate with others' emotions. This will help young entrepreneurs create products and services that genuinely make a difference. Successful businesses often cater to people's needs.
5. Vision: I want my kids to dream big and visualize their goals. This is the ability to identify opportunities where others see challenges.
6. Ethical Integrity: I want my kids to uphold ethical values. Instilling a solid moral compass ensures trustworthiness in future business dealings.
7. Adaptability: I want my kids to be flexible in their approach. I want them to be able to pivot when required. More importantly, I want my kids to identify the signs when a pivot is needed. In an era where market dynamics can change overnight, the ability to pivot is invaluable.
8. Persistence: I want my kids to be able to push forward, regardless of continuous setbacks. Every 'no' brings an entrepreneur closer to a 'yes'.

IMPORTANTLY

9. GRIT: I want my kids to mould themselves to have a combination of the right attitude, perseverance and firmness of character to try relentlessly and never give up!

MORE IMPORTANT

What do I want for myself?

I want:

• to be a part of my kids lives and not become irrelevant when they grow up,
• to have conversations with my kids where we have common interests,
• to be part of the start of whatever journey they embark on (if I am lucky).
• to have confidence in myself and know that I have given the best to my kids as a parent, with whatever I can.

Must-have Skills for Future Entrepreneurs

Identifying what I want for the kids (and myself) was the easy part 😄.

Now, I had to figure out how to train them. But before that, I needed to identify the skills that children needed.

What skills would I like my kids to practice and get better at?

What I want from my kids?

These are the characteristics I am hoping my kids will be able to develop:

1. Problem-solving: The kids should be able to learn and access relevant tools to break down challenges and craft effective solutions.
2. Financial Literacy: The kids should know basic concepts like budgeting and investing, and understanding profit and loss can set the stage for business success.
3. Effective Communication: My kids should be able to communicate confidently and effectively verbally and written. Whether it's pitching an idea or negotiating a deal, clear communication is key... not just in the business world but also in our personal lives.
4. Networking: The kids should be able to learn to engage with diverse groups and listen actively. They should be able to build meaningful relationships that may open doors to potential opportunities.
5. Sales and Marketing Acumen: My kids should be able to learn and understand the basics of promotion and sales to reach their target audience effectively. A good product needs visibility.
6. Research Ability: The kids should be able to gather and analyse information. And to make decisions based on their research.
7. Technological Proficiency: My kids should be across the latest tech tools, ranging from e-commerce platforms to social media marketing.

The list goes on...

Now, how do I train my kids on the above?

How do we embed the entrepreneurial mindset into kids?

These are not things that we can teach kids in a classroom.

We need to create constructive environments to give kids opportunities to experience themselves, practice and learn.

We need to create an environment that encourages kids to do so.

I was aware that this training was going to be a journey.

I also knew I would need to learn and train myself in many aspects - to teach and train my kids.

That's how Project Instill was born.