What I’ve Learned from My Entrepreneur Parents

My parents have been entrepreneurs as far back as I can remember. The truth is, they started their business a couple of years before I was even born. Living with entrepreneur parents definitely has its ups and downs. I think I probably learn much more about the world and how business works than other kids my age. I know about how the stock market works, about compound interest and I know how to make a proper and fair deal. Well, fair for me. I love it, but sometimes it’s not so great. I have to work for my things. Sometimes they give me money and things, but mostly I have to earn it because they really value a strong work ethic. I think I have acquired a lot of good talents and knowledge from my parents. Here are some of the things  they’ve taught me:

1. Be in charge of your own destiny. My parents don’t believe in a 9-to-5 job. Since I turned 14, I want to get a job and my mom keeps encouraging me to start a business. They’ve taught me that being an entrepreneur means having more control of your own destiny. Not everything is in their control, but for the most part they have control over their schedule, how hard they work, how much they make, who they work with and don’t work with. They say they like to bet on themselves. But I’m going to look for a job because it will teach me good work ethic, which is a big deal to my parents.
2. Work ethic, work ethic, work ethic. Need I say more? My parents think work ethic is really important and have definitely complained in the past when their employees or clients don’t have the same drive or work ethic.
3. Balance is important. Even though my parents really think work ethic is important, they’re still pretty balanced. They sold their business five years ago to spend more time travelling with Jei and me. But they’ve been working a lot more lately. But, we almost always have dinner together as a family with no interruptions. We also do things together on the weekend, like go hiking or go to our cabin in SC.
4. It’s important to take risks. Sometimes you just have to put yourself out there and try things. Some of them work and some of them don’t, but you never know if you don’t try.
5. Failure is a part of life. In school, failing was a bad thing, but my mom says failure is inevitable. If you’re not failing, you’re not trying. Failure is how we learn. My parents had a big failure years ago when they had to shut their business down and start over and they say it’s the best thing that ever happened to them. They encourage me to not fear failure, but learn from it and move on from it and not make the same mistake twice. Anytime anything goes wrong, my mom asks “what did you learn from it?” I’m always supposed to be learning.
6. Persistence pays off. Sometimes, there are things I just don’t want to do. My parents always remind me that sometimes you just have to push through and get things done. Everyone goes through highs and lows, but not giving up pays off.
7. Always negotiate. My dad and I negotiate everything. Whenever I do chores, he expects me to negotiate a rate with him and never settle on the first offer he gives me. I used to just agree if he said he would pay be $5 for a job, but I’ve learned that the first number is a starting point and that I can get more if I negotiate, especially if I make a case for charging more.
8. Think and dream big. It’s important to deal with the day to day tasks, but its also important to think about the future and where you want to be. My parents always have big dreams and spend time visualizing what they want to create. They’re building a new business and always talk about what it’s going to be like and feel like and who they want to be a part of it. They’ve done some pretty amazing things, and they said it wasn’t by chance. It was on purpose. My mom says thinking and dreaming big is the key to it all.