The global business world is growing and enriching with new prosperous trends. Also, it is getting younger for the emergence of young millionaires who can realize their potential without family capital and at a very early age. Ruslan Tymofieiev (Ruslan Timofeev), the founder of venture investment fund Adventures Lab, speaks about adopting an American idea of developing an entrepreneurial spirit in a child and explains why investors are heeding the new generation.
Home of business concept
Ruslan Tymofieiev opens up the curtains of modern business strategy, which derives from the United States. The investor notices that the US is home to every modern concept of successful business, startups, and an innovative economy. Americans teach kids about these essential insights from a very early age. Therefore, there are several archetypes of an American school student that became part of the culture.
The first archetype involves kids under ten years old selling lemonade to neighbors and passers-by right from their house’s lawn. The kids make lemonade by themselves, set up the table, and provide a small business by engaging “clients.” Thus, “clients” start discussing the price and business model with kids, then buy lemonade, drink, and praise kids for their work.
The second archetype involves teenagers, called scouts, responsible for selling cookies. So, scouts approach passers-by on the street, go from door to door, advertise their product by explaining why people should buy it and what the money will be used for.
As Ruslan Tymofieiev notes, this approach leads to developing the basic principles of business communication at an early age of an American kid. They learn to fulfill a business plan: set prices, interact with clients, trade, and receive recognition and reward for their work. Moreover, when pitching and communicating with each other, children learn and exchange experiences. So, they can analyze their approach and improve it to attract clients’ attention better and sell their ideas.
Tymofieiev exemplifies other countries and what they put in the center of children’s growth. In Brazil, kids play football. This explains the large number of football players over there. In Africa, kids play Olympic runners. That is why the country boasts Olympic runners. When it comes to the US, kids play businessmen. Thus, all technological progress is taking place in this country.
Moving away from the Soviet education model
Considering Ukraine in the business model question, Ruslan Tymofieiev (Ruslan Timofeev) shares that it boasts many smart, talented children who can create brilliant business ideas or revolutionary technology. But Ukrainian women teach their children to avoid talking to strangers. Of course, they have enough reasons to do so. But it results in lacking communication skills to interact with potential investors. Accordingly, Ukrainian students are very talented but can’t pitch their ideas.
The businessman says that this approach takes back from the Soviet Union and is gradually moving away. The educational model in Ukraine is changing along with the emergence of innovative technology, robotic and engineer schools. Now, children will not just draw formulas on the blackboard but build and program robots.
Recently, Ruslan Tymofieiev has participated in Business Camp in Ukraine as a mentor. He had an opportunity to talk to Ukrainian kids and explained how to offer their ideas to people who could fund them successfully. He emphasized that generation Z can become successful businessmen with the right approach and motivation. Tymofieiev believes that projects like this will help build self-confidence in young people and make them drivers of technological and business progress in Ukraine.