August 27, 2015

3 Skills Schools Should Be Teaching the Next Generation of Entrepreneurs

SilhouetteI don’t have kids yet, but I think about them. And I’m already thinking about the skills they are going to need 25 years from now, in the event that they become entrepreneurs like me. But how in the world can I help them stay ahead when I don’t even know what business is going to be like next week?

The iPhone is only seven years old. To date, there have been over a million apps developed for the iOS app store, which only launched in the summer of 2008. And with millions of people around the world — especially the BRICs: Brazil, Russia, India, and China — coming out of poverty and into the middle class, our future American generations face more competition than ever.

So, what do we need to teach them? I believe there are three critical languages future entrepreneurs must learn. Namely:

  1. Computer Programming: I’m only 27, but even I missed the boat on programming by 5-10 years. Talk about feeling antiquated. But how early do we begin this training? My answer is as early as possible, when children’s brains are sponges and learning addition and subtraction seems just as complicated. The computer is the new blank canvas, and whether it’s business, entertainment, or productivity, programming is where it all begins.
  2. Mandarin: China has been building its infrastructure for the past 15 years to move people into cities, and now these people are growing up in more comfortable living environments. They are spending, creating, and learning, and China has quickly become America’s No. 1 economic partner. Much like Spanish had been the most popular secondary language offered in my high school, I think Mandarin is, and should be, next in line. And just like computer programming, I think children should be exposed to it very early on in order to become fluent enough to actually use it as a form of communication. Some schools already have it in their curriculums as early as kindergarten.
  3. The Entrepreneur’s Dictionary: I’m not saying that math and social studies are not important — they are. But I think they could use a little infusion. As an entrepreneur, I use my knowledge of personal finance and economics every day. The rhombus and the polygon? Not as much. Maybe not in kindergarten, but I think a base understanding of financial concepts — gross profit, net earnings, year over year sales, net interest margin, cost of goods sold (COGS), etc. — is worth introducing. Now more than ever, business owners have to be able to think like the bankers, venture capitalists, and private equity firms that are looking at investing in or acquiring their businesses.

SunsetWe are not even pregnant yet, but my wife and I have already begun looking for schools that offer this kind of education. Right now, the schools are typically private and cost a fortune, but hopefully this will change in the future. The good news? I know my child doesn’t need to be a genius: he or she just has to learn these skills to speak the language of entrepreneurship.

This article originally appeared on BusinessCollective.

Mason Revelette is the CEO of Jonathan’s Grille, a locally owned, upscale sports grille in Nashville with five locations. The restaurant was named one of CNN’s Top 101 Sports Bars in America. He is currently the founder of a new startup called Vet On Demand, a video conferencing platform to connect veterinarians and pet owners. 

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