My Teen Biz - For Parents

MyTeenBiz was created for teens and adults who are interested in influencing the future of kids.

As a parent, your expectations have a huge influence on what your child expects of herself, even if she doesn't want you to know it. You can help her envision her future at a time when the social anxieties and opportunities of middle school loom larger than life after high school. This doesn't mean having an "I expect you to go to Harvard" conversation. Talk to your child about her interests, how they might translate into a college major and career.

Don't underestimate your ability to influence or teach your kids about business. Kids may not appear to take direction or listen to you, but you do have the biggest impact on their lives. As a parent, you should not be focused on what career you want your child to pursue, but rather help them understand their choices, interests and talents. The best influence is to help them find something that they like and inspire them to get started. Motivate your child to put their imagination to work!

Get Smart about College Planning!

It's not too early for you and your child to visit a college so she can begin to picture herself there. Meet your child's teachers, if you haven't already done so, and make it clear that you want to be kept up to date about any changes in your child's work or behavior. Go over your child's standardized test results with the counselor to identify strengths and weaknesses. Talk to the counselor about your child's interests to see if there are electives and extracurricular activities that will help him develop his/her talents. Communication is very important.

College preparation should be an exciting time, not a stressful one. Here are some tips on how to help you child prepare for their college education experience:

1. Start saving today. One thing is certain - you can never save too much money or plan too far ahead for your child’s education. College expenses are increasing at all-time highs. It’s a good idea to create a college savings plan. Even saving a little each week is better than no savings at all.

2. Plan ahead. There are other things besides saving money that you should take into consideration well before your child is ready for college. Colleges often require an application fee when your child submits their application for approval. If your child applies to several colleges or universities, these fees alone can add up very fast. Start checking into every aspect of the application and college processes. Educate yourself on these extra fees and expenses so that you can plan for them accordingly.

3. Don’t rely on school counselors alone. Be proactive in your child’s post-graduate education. School counselors can be helpful, but often have a huge workload. Stay in contact with your child’s school counselors, teachers and administrators. Ask how you can help, or what extra measures you need to take as a parent. Take an active part in learning what scholarship and financial aid programs your child should apply for. Your child may be able to apply for several types of financial aid regardless of your income.

4. Involve your teens in the college preparation process. While you should take a hands-on approach to your kid’s college education, don’t do all the work for them. Let them fill out forms, pay application fees, and ask questions. Help them create a financial plan for their college years and even save up for some of the costs.

Starting a business is a great way for kids to learn real life skills and build confidence.

Parents, to help your child's success, I highly encourage you to allow your children to take ownership of their businesses so that they reap all of the benefits associated with entrepreneurship. Encourage independence and allow them the potential to make their own money. There are so many benefits to allowing and inspiring your child to start a business of their own. Here I list a few:

1. Teaches them how to be a leader.
2. Improves their math, writing, communication & social skills.
3. Creates opportunity to be creative & think outside the box.
4. Provides them with real-world skills they won't necessarily gain in school.
5. Teaches them ownership, accountability & responsibility.

It’s important that you realize that your child’s successful and unsuccessful business experiences are actually good, even great! The successes build confidence while the failures become great learning lessons.