Parents Support for Startups

Benefit  of Parents Support for Startups

Children who have entrepreneurial traits should get support from their parents. Normally children with either or both parents as entrepreneurs experiences an entrepreneurial atmosphere at home. This can be an added advantage as getting parent support could be easier.

In case the parent’s business is not doing well the child may be discouraged.

Non-entrepreneurial parents support could be difficult to get as the perception is business is risky.

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Parents Support for Startups-Expert View

Cameron Herold- Entrepreneur

An entrepreneur since childhood, Cameron Herold wants parents and teachers to recognize — and foster — entrepreneurial talent in kids. 

“I think we have an obligation as parents and a society to start teaching our kids to fish instead of giving them the fish — the old parable: "If you give a man a fish, you feed him for a day. If you teach a man to fish, you feed him for a lifetime." If we can teach our kids to become entrepreneurial — the ones that show those traits to be — like we teach the ones who have science gifts to go on in science, what if we saw the ones who had entrepreneurial traits and taught them to be entrepreneurs? We could actually have all these kids spreading businesses instead of waiting for government handouts.”

Parents Support for Startups-Case Study

A Case study of an eight-year-old Entrepreneur

Source: TED Talks 

Maya Penn makes eco-friendly clothes and accessories, which she sells on a site she built — and gives away a percent of the profits.

Why you should listen

To sell her line of luscious knit scarves and eco-friendly hats, teenaged entrepreneur Maya Penn built and maintains her own retail website. (She started the business when she was 8.) She’s also an animator and a geek, and an eager evangelist of teaching kids of be entrepreneurs at any age. Bursting with ideas, she recently started a side nonprofit called Maya’s Ideas 4 The Planet.

What others say

“There's no 'slow' button on Maya Shea Penn.” — Sheila M, Poole, ajc.com

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 How to Get Parents Support for Startups

Parent’s approval doesn’t only provide a great deal of motivation, but could also get financial support as well.

1.   Be Honest and discuss your idea

2.   Explain why you feel you are better off than taking up employment

3.   Explain the risks involved

4.   Demonstrate your ability by selling a product and the profits you made

5.   Take help from parents network 

Parents Support for Startups- Role of Parents

If the parents, see early signs of entrepreneurial thinking do not discourage the child. Allow them to participate in workshops or in school activities promoting entrepreneurial skill building activities. 

A small financial support in the early stages will help the child to take risks. Entrepreneurships learning has to be experiential and cannot be learnt only from books. 

Do not discourage failure. 

Allow the children to develop their talents and do not force them to be what you want them to be.

Parents Support for Startups-Conclusion

Parents have a significant role in shaping up the child’s attitude in the early stages. Entrepreneurship is a skill like singing, dancing or any sports and   therefore skill has to be built.

Create opportunities and act as a catalyst.

You can be a proud parent who helped your child to be an employer. The child created much needed jobs in society and the recognition for this goes to you.