First, you need to consider the age of your child as well as your sense of their ability to handle their own business. Second, you need to be prepared to help them develop their idea and work with them to have a successful business. At times, you will need to mediate their enthusiasm and, at other times, you will need to be a cheerleader, or even a taskmaster, to get them to finish what they have started. You will serve as a mentor, a coach, and even an unpaid assistant.

Start by helping your child identify a special talent or skill that other people might be willing to utilize or need. Some examples of small businesses that youth have explored may start with something as simple as one of the following pursuits.

* With your help, they may start a paper route or a lemonade stand.
* Some children have developed successful business opportunities around specific arts or craft techniques they possess.
* They may tutor or teach younger children the basics of music.
* Many children get their start as an entrepreneur by mowing lawns in the neighborhood or doing other lawn care/home maintenance tasks.
* They may do pet sitting or home-watching while the owners are on vacation.