How does one raise an entrepreneur? How does one raise a successful entrepreneur who is not only viewed as founders for businesses but as someone who is hard-working and passionate about their projects? What part does a parent play in raising smart, self-assured, and successful kids? Which part of parenting matters and what fails in raising them?
Margot Machol Bisnow, the author of “Raising an Entrepreneur”, conducted an interview with 70 parents all who have raised successful individuals. The interview was done for the research purposes for the author’s book.
1. Give kids extreme independence
Whether it’s by the smaller acts like having them contribute to the family by doing simple household chores or doing bigger things like traveling alone, giving your kids some type of independence can help them gain their sense of responsibility. It also helps them develop their confidence at a young age, making them ready to face the world later on as they grow older.
2. Actively nurture compassion
Children who have parents who demonstrate how it feels to support those in need, whether those people are nearby or thousands of miles away, have a good start in learning compassion. These children who are exposed to the issues of others at a young age may begin to ask themselves, “Do things really have to be this way?” or “What can I do to improve them?”
3. Welcome failure early and often
To some people, failure is not an option. Having this kind of mindset in fear of not meeting expectations, especially starting from a young age, leads to early burnout and a lot of mental health issues. Oftentimes, expectations are placed upon children by their parents in hopes for these children to meet them. There’s underlying toxicity in this situation because this leaves no room for children to fail and try again. Creating an environment where it’s for your children to fail helps them shape themselves in the future and have them realize their potential and see their opportunities.
4. Let go of control and lead by following
Children require time to find their paths. There are times when it’s difficult to tell where one is going. Some parents could consider their children to be lost in this circumstance. However, parents of children who go on to become business owners are more likely to view their children as being exploratory.
This is the challenging aspect for many parents: Regardless of the direction your child takes, you must set the example by following if you want to raise an entrepreneur. See what your children desire, are passionate about, are skilled at, and find joy in. Tell them you are happy for them that they succeeded on their chosen route. Once you are certain they believe it, tell them repeatedly.
Even though they might not end up in the profession you had in mind, if they can follow their passion, they will be content and satisfied.