FAILURE is an OPTION Any business is bound to encounter setbacks, but failure is part of the learning process. Sleevi reminds students, “Perfection is never the goal. We focus on progress.” Learning from failures and adapting is essential for any entrepreneur. In fact, as Bollweg emphasizes, “Some of the best business lessons come from failure. We let our students fall, but we also support them in getting back up.” Of course, a parent’s natural instinct might be to step in and prevent failure at almost any cost. Such an approach rarely sets a child up for success in their current venture or their next one. Entrepreneurs of all ages must be willing to pivot based on factors within and beyond their control. When confronted with failure, kids who refine their ideas or their approach may ultimately build a better business – or at least come away with some valuable lessons. SKILLS that LAST A LIFETIME Entrepreneurial skills are, in fact, life skills, and supporting your child’s entrepreneurial dreams means more than just helping them build a business. It’s about teaching them resilience, confidence, and problem-solving. In that context, Positive Snacks has already generated positive ROI for Kelsea Banh and her partners in the classroom. “I used to be really nervous to present, but now I feel a lot more confident,” she said.
Sleevi noted, “A mentor could be a parent, a teacher, or anyone with entrepreneurial experience who can keep a young entrepreneur inspired and accountable. A mentor doesn’t do the work for them but helps guide and refine their progress.” Heitner, a sophomore in Startup U, stressed the importance of balance. “I appreciate that the mentor isn’t overly involved. It’s my idea, my responsibility. I want to be independent,” she said. For parents who want to tap into their network to help a child find a mentor, suggest some names, but let the child reach out to the individual to establish their own relationship.
Perfection is never the goal. We focus on progress. — SARAH SLEEVI FEMALE STRONG
For information about Female Strong, visit femalestrong.org and to learn more about New Trier’s Pitch Night, featuring Startup U students, visit newtrierconnect.org/pitchnight
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