• DATE August 7, 2013
  • URL oneinstitute.com/tile/raising-risktakers/

Raising Risktakers

What does it take for parents to foster the entrepreneurial spirit in their kids?

Like most children, Jake Johnson grew up in a home in which he received a weekly allowance in exchange for completing a list of chores – washing the dishes, taking out the trash, vacuuming the carpet, and that kind of thing. But as his own sons approached allowance-receiving age, he began to realize repeating the same pattern would constitute “a huge disservice because an allowance teaches kids poor lessons on money.”

According to Johnson, giving kids an allowance in exchange for accomplished chores teaches several specific bad lessons. It teaches that time and tasks are their commodity, that success only requires the bare minimum, and that life is meant to be distinctly divided into separate categories of work and play.

There are five big lessons Johnson has set out to teach his sons. The first of which has to do with responsibility:

Liam still has chores. Each day he’s expected to feed the cat, empty the trash and recycling, put the dishes away, and keep his room clean. For that he gets nothing other than the satisfaction of a job well done (hopefully he feels that satisfaction soon). He’s protested. He believes he should get money for these tasks. But we’ve taught him that he doesn’t get paid for doing work around the house. Just like mom and dad have responsibilities in the home that we don’t get paid for, so does he. He’s not there yet, but hopefully he’ll learn that responsibility is a way of life, and you don’t always get paid for being responsible.

Read the full article at Medium