Looking at Entrepreneurship and the Next Generation

I recently read an article about some wealthy heirs and recent millionaires who have and what they teach their children. I found it interesting, that contrary to popular belief of those in financially smaller income brackets, that there is some really great, responsible, parenting going on inside their elite circle.

Although these children are heirs to great wealth, they are not handed a "silver spoon". One of these great parents, teaches his children entrepreneurship and family cooperation to get those things they desire. No allowance is given at all. They take out the trash, make their own beds, put away their own laundry and help with yard work, to name a few of the basic chores, and its all taught and viewed as family cooperation. They do not get paid to do their part as a member of the family unit. No, money is EARNED through ideas and business development taught by the parents. The children even as young as six, create and develop their own small business, with the help of the parents, and create their own income. Some of these examples, lest we think ill of putting a six-year-old to work, were, baking cookies and selling them, video production, and car washing. They are also taught about philanthropy and the product of a lifestyle of giving.

I was so intrigued by this, not only because we do the same in our household, but because if this parenting style to create a new generation of wealth, is so powerful, if it's good enough to teach to the children of the wealthy, doesn't it make sense that using similar principles, many of us can learn the same as adults. I mean really, even if we're half way through our life, we've still got a good 40 or so years to leave our children and our grandchildren a legacy that perhaps we only dreamed of, and until now, never really believed in.

The dream of building a legacy for my children and grandchildren motivated me to seek out opportunity and take risks. Although some were failures, I have never ceased to believe that if I choose good mentorship and exercise some faith and vision, I can achieve great success, just like I teach my kids. What better way to teach than to live it wholeheartedly. I feel a bit sad that many of you reading this article will never take the risk, because although you know it deep down in your heart, you're stuck in your rut and too fearful of those "MLM" horror stories and fraudulent scams. If PROPER research is conducted, (and I don't mean here-say and internet gossip), I assure you, you will not be disappointed by your choice, although for the first year or two, you may wonder at times. It won't be easy, you may have to take some guff from family, friends or co-workers, you may even get tired at times, because it means extra hours on the side of your regular job, but, see your future and hang onto your vision.

I must emphasize one thing, absolutely, under no circumstances, give up what you already have that's good and do not go into debt, break into your nest egg or any other crazy drastic change, until your new venture is stable. But, I encourage you to take a chance, like many of us did, and don't be so afraid of failure. Too many famous millionaires have left us their example of the old adage "if at first you don't succeed, try, try again".

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