Monday, February 15, 2016

Encourage Your Teenpreneur Without Distorting Reality

Today’s fantastic family finance article is:

Encouragement Balanced by Reality

On this episode of the Ask Gary Vee Show, the famously energetic Internet entrepreneur, Gary Vaynerchuk, fields this listener question: “My sons love digital media and Snapchat. They wanna be producers. Any advice for y-gen?”

Gary’s advice boils down to a simple three step recipe for parents of aspiring kidpreneurs:

  1. “Make them feel like they can actually do it.”
  2. “Let the results be the results. Don't fake the results.”
  3. Disappointing outcome? Help them own it. Discuss how to do better.
    Return to Step 1.

Gary laments that many parents do the complete opposite: damping expectations at the outset, and doling out unwarranted praise afterwards.

Gary closes out the segment with this pearl:

“Encouragement matters, but reality matters just as much. Create friction among those two to create the perfect storm for the young and moldable minds.”

The bottom line: Create positive permission for your kidpreneurs to compete and regroup, but don’t hand out any “8th place trophies.”

Watch Gary’s 3 minute segment starting at 16:17 here.

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