Starting A Business For Kids? Here's Secret Ingredient You Must Consider
Starting A Business For Kids Requires Kid-Relevance For Survival
Some child-related businesses thrive while others die. Why? Because there are simply some businesses that "get" what it means to design their business to appeal to kids. They master the art of understanding how to design their experience, offering, and price points to appeal to the child as well as to the parents of those kids.
But, here's the rub - as an entrepreneur interested in starting a business for kids, how can you ensure that your business idea will actually work? One way to do this is to borrow a concept that some of the leading corporate businesses utilize - reverse mentorship.
Reverse Mentorship - A Competitive Strategy Every Kid Oriented Business Needs To Consider
It seems like the older you get, the wiser you become (in most areas). But in the area of finding successful ;business ideas for kids products;or services, the older you get, the further away from the kid-mind you get. And while this is advantageous for many areas of life, it may not serve you well when looking for ways to ensure that your business has what it takes to survive the brutally competitive environment of starting a a business for kids.
This is where reverse mentorship comes in. In simple terms, it means that you intentionally seek out the mentorship, mindset and guidance for kids (and parents of kids) who fit the demographics of your target audience. The benefits of reverse mentorship are huge because you get to hear the perspectives from a generation that is not defined by your own thought processes. It helps you to better connect with your target market's needs, wants and desires. It will also give you sharp insight into business design elements that WILL work for them as well as to give you warnings about what WON'T work for them.
When Starting A Business For Kids, Proactively Seek Out Kid Wisdom On At Least A Quarterly Basis
Seeking out "kid wisdom," sounds a little weird at first, but it just might be the one key thing that insulates your new kid-focused business from failure. When building out your strategy for starting your business for kids, consider the 11 reasons below. And begin today building a continual-listening loop strategy around strengthening your kid-wisdom.
- Only children know what it is like to be a kid - today, And while we were all kids once, it will help you to understand how today looks through their eyes, their awareness, perspectives, and experiences.
- Children are not afraid to voice their opinions - they are not afraid to tell you what is right with your business idea (as well a what is wrong). They have there own thoughts and they love to share them
- Children are digital natives - and exposed to much more than we were exposed to at their age. Engaging in on-going dialogue with them helps you build an awareness around what they know (as well as what they don't know). The continual engagement will also help you to have design your business FOR them and not AT them.
- As our world evolves, and our technology changes, we will find that kids will have a digital skill-set and opportunity awareness that you may not have considered. They are also digitally more adept, innovative and quicker to think outside of the box.
- Children have a keen understanding of their peers - likes and dislikes - and they can figure out situations as well as adults can.
- Children are natural influencers - they can influence their peers as well as many of the adults in their lives.
- You need their voices because what they have to say about themselves and the world around them is valid for them and will yield incredible dividends for you.
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