Mark Cuban, owner of the Dallas Mavericks (I bet you know them!) believes that kids should start learning about entrepreneurship from a young age. This much he said in an interview published on entrepreneur.com

In his experience with kids and their approach to entrepreneurship, he says:

…I get more questions from kids or from parents about their kids and entrepreneurship than what I get directly from adults. The market is there.

And he has these piece of advice for young entrepreneurs.

1. Start Today

If you acquire the habits and skills required to start a business before starting university, you will be ahead of the competition. What’s more? To succeed, you don’t need qualifications, money, or a planet-sized brain. All you need is to create something that consistently makes money. Though you may think that you do not need to learn entrepreneurial skills, but if you do, you will benefit immensely from it, he adds.

2. Don’t Worry About Making Mistakes

You have nothing to lose and everything to gain, so don’t worry about making mistakes. Your product, business or service is never going to be perfect and neither will your business ideas. And while big companies make big errors, children can’t fail on that big a scale— simply because they do not have the resources to do so. These were his words:

I don’t think [kids] can make mistakes. They aren’t running businesses with millions at stake. They are starting small, selling products they make or resell to their friends and neighbours. They can’t go wrong. They can only learn.

He encourages young entrepreneurs to react like they would to any disappointment, and bounce back.

3. Set Goals

He went on to add that starting a business as a child can impact the rest of your life, for the simple reason that it builds a child’s confidence, and teaches them from an early age to know how business works. It also teaches them that they can accomplish goals they set for themselves, all of which will benefit them later on.

Speaking from experience, he adds:

I have invested in just a few [young entrepreneurs] so far, and 80 percent have succeeded to date. They set reasonable goals and go for it. Unlike adults who try to get rich and retire, [kids] are trying to make some money and learn.

Remember though, that goals without deadlines are dreams;  but a business isn’t a dream. And what sets successful people apart is their determination, resilience and attitude.

Always choose to be a champion.