Why Youngest Children Often Become the Boldest Entrepreneurs Perhaps there's some truth to the stereotype of “bossy” eldest children or studious middle children. However, the youngest member of the family often surprises everyone. Despite conventional wisdom, research and...

Perhaps there's some truth to the stereotype of "bossy" eldest children or studious middle children. However, the youngest member of the family often surprises everyone.

Despite conventional wisdom, research and real-world examples suggest a different reality. Lastborn children have unique experiences that make them successful entrepreneurs.

What the Research Says

According to a 2016 Journal of Personality and Individual Differences study, younger children may have a better chance of succeeding. They are more likely to take career risks, which could potentially lead to greater success and wealth. Their family status may have influenced their risk-taking personality.

The twist? The study also revealed that the youngest children are more likely to become self-employed. As a result of years of being told what to do by older siblings and parents, this "rebellious" streak may not be inborn but rather a response to being told what to do by adults.

Furthermore, Dr. Brittany McGeehan, a psychologist specializing in high-achieving women, told Entrepreneur that being the youngest child may translate into success in business and life. Dr. McGeehan acknowledges that birth order isn't a guaranteed predictor, but there can be general trends.

"At this point, [parents have] seen multiple kiddos make it through the gauntlet," said McGeehan, "and [they] recognize how hardy and truly robust children can be."

As a result, McGeehan added, it is common for younger children to be more artful and willing to pursue whatever they want.

Breaking Free from the Mold

As the oldest child, you may be raised to be responsible and to follow rules. Often, they are a source of inspiration for their younger siblings by acting as little helpers. On the other hand, middle children may develop a competitive nature or forge their own path. There is, however, a slight difference in the environment for the youngest children.

• Less pressure, more freedom. Because older siblings often set the tone, youngest children often face less pressure to conform. With the experience of raising a child, parents are generally more relaxed, allowing greater freedom and experimentation. Through this, a sense of self-reliance is fostered, as well as the courage to break free of traditional social norms.
• The power of observation. It is natural for young children to observe. Through their siblings' successes and failures, they learn valuable lessons. As a result, they can approach challenges with a more informed perspective, identifying pitfalls and opportunities that others might have missed.
• The "Life of the Party" mentality. It is common for the youngest children to develop strong social skills. They learn how to negotiate, entertain, and adapt to different personalities within the family dynamic. Building relationships and navigating social situations are crucial for success in the business world. According to one study, last-borns are more relaxed, easygoing, and humorous.
• A different kind of play. While older siblings might engage in structured activities, the youngest enjoys more fluid, imaginative play. Creative thinking can be fostered through this process, a valuable asset for entrepreneurs.
• The adaptable chameleon. Children often have to adjust to family dynamics as they grow up. Depending on the situation, they may be able to negotiate, entertain, or charm their way into it. In order to build relationships with clients, investors, and partners, these skills can prove invaluable.

The Entrepreneurial Mindset of the Youngest

A child's unique experiences cultivate a specific set of traits that prepare him or her for entrepreneurship:

• Calculated risk-taking. Researchers from the University of California, Berkeley and Guildford College found that younger siblings are more likely to participate in high-risk sports. Professionally, this translates into bigger risks. However, this does not imply recklessness. By observing and learning from others' actions, they're more likely to take calculated risks.
• Resourcefulness and adaptability. When older siblings "claim" their share of resources, the youngest children become resourceful. By improvising, finding creative solutions, and adapting to changing circumstances, they learn valuable skills for starting a business.
• Charisma and persuasion. Having honed their social skills, the youngest children are natural persuaders. As a result, they are able to effectively communicate their ideas, build trust, and inspire others to believe in their vision. An effective charismatic leader attracts investors, secures partnerships, and builds a strong team.

It's Not Just About Birth Order

While birth order has a significant influence on entrepreneurial spirit, it's important to keep in mind it's not the only factor. There are also some other factors to consider:

• Family dynamics. Entrepreneurial ambition can be fostered by a supportive and encouraging family environment, regardless of birth order.
• Personality traits. A strong work ethic, resilience, and adaptability are key components for success in any field, including entrepreneurship.
• Role models. Young business founders can be inspired and motivated by observing successful entrepreneurs at an early age, regardless of their birth order.

Beyond the Stereotype: Not All Youngest Children Become Entrepreneurs

Even though it is important to remember that not all of the youngest children become entrepreneurs, there have been plenty of successful entrepreneurs who weren't the "baby of the bunch." The ability to understand these potential advantages, however, can provide new insight for anyone considering starting their own business.

Harnessing the Youngest Child Advantage

So, how do you cultivate the "youngest child advantage" without being the lastborn? The following tips may help:

• Embrace a fresh perspective. Ask questions, challenge the status quo, and seek alternatives. Disrupt existing industries by looking for new ways to do so.
• Develop your negotiation skills. Develop your ability to communicate convincingly, advocate for your ideas, and strike win-win deals.
• Think creatively and resourcefully. Have an open mind and a "get it done" mentality when it comes to challenges.
• Find your niche. Set yourself apart from your competitors with a unique value proposition.
• Develop a "growth mindset." See challenges as opportunities for learning.

Conclusion

Children with an entrepreneurial edge aren't born with it; it's the result of a combination of factors that can lead them down the path of risk-taking and innovation. Any person can tap into that boldness and take a leap toward their entrepreneurial dreams by understanding these trends and cultivating similar skills.

It's important to remember that birth order might provide a subtle nudge, but ultimately, success in business is about dedication, passion, and perseverance.

Image Credit: Gustavo Fring; Pexels