Your home-based business is the perfect platform for educating your children about business and financial independence.
As a business owner, you have taken control of your own life and destiny. You are ahead of the curve—but are your children? Many parents expect their children to learn what they need to succeed in school. But consider this:
Visit a kindergarten class and you see excited children jumping up and down. “Pick me! Pick me!” they yell, eager to learn and volunteer for anything. Now fast forward ten years and imagine those same children in a classroom as high school seniors. The front row seats are empty; the students not only avoid volunteering, they won’t even make eye contact with teachers for fear of being called upon.
Whether we like it or not, traditional education today is still teaching our children to become good employees rather than creative entrepreneurs. In fact, creativity is often labeled as rebellion. What’s the difference? Employees live for paychecks. Entrepreneurs live for results.
Owning a business is a great way to teach kids about the responsibilities and benefits of entrepreneurism, but they’re also lessons that transcend the business world. Becoming a role model for your children will encourage them to take responsibility for their own dreams and goals.
Share, don’t tell.
There is an important difference between “sharing” and “telling.” Share your business with your children; don’t just tell them you’re busy. You may be amazed by the respect you will get from your children when you include them in your business.
Ask for their opinions.
Once engaged, children will have great new ideas you haven’t even thought about. Their perspective and insights may even give you new opportunities for distribution and growth.
Involve your children in bill paying.
There is nothing like experiential learning. Our children are often with us when we spend our money—they understand it’s easy to “Just charge it, Mom.” That’s because children are typically not with us when we make our money. They don’t understand the effort and costs involved in earning the money. Have your children pay the bills for your business and let them learn firsthand about all the costs of running a business.
Compensate your children for results.
Money speaks volumes with young people. Compensate your children for any help they give you based on the results they achieve. This will ignite their entrepreneurial spirit quicker than anything. Do NOT compensate them for just time worked; that creates an employee “live-for-the-paycheck” and entitlement mentality. Provide perspective. Review your monthly financials with your children. Let them see the “whole picture” of your business goals and successes. They will gain a new appreciation for your achievements through the eyes of a business owner, which may empower them to start their own businesses.
Encourage their ideas.
Encourage your children to set their own business goals. You will see their self-esteem increase light years with their first sale in their own business. Fulfilling a goal on their own is priceless education! ♦
Sharon Lechter is a co-author of "Rich Dad, Poor Dad" and the founder of Youthpreneur.com. The site provides hands-on, experiential financial-education tools for teaching young people about starting a business and getting on the path to being their own boss. 
