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How Parents Can Support Young Entrepreneurs


I think you and I would agree that the
world is a better place with more
successful entrepreneurs creating jobs
for everybody and so in this video I’m
really speaking to two different
audiences one I’m speaking to the parent
who has a kid who’s an aspiring
entrepreneur and you don’t really know
how to handle it yourself I’m going to
speak to you too I’m speaking to the
teenager entrepreneur the young
entrepreneur that’s watching this and
you keep sending me snap saying Pat what
do I do when my parents don’t support me
I need you to watch this video one and
then share this video with your parents
and have them watch it while you sit
right next to them okay so let me get
right into it I’m speaking to the
parents right now parents a couple of
things I want you to keep in mind if
your son or your daughter just shared
this video with you one if you have
never been a successful entrepreneur or
you’ve never become an entrepreneur you
failed as an entrepreneur that doesn’t
necessarily mean your kid will go
through this wall if you had an uncle or
brother or sister who failed miserably
in business and lost everything that
also doesn’t mean your kids going to go
through themselves now the second point
I want you to be thinking about is the
following before you say no go to the
Safeway go get a job you know go to
college do this because that’s what
you’re supposed to do the second I want
you to be thinking about just thinking
about it for a moment here as a parent
to have three kids myself I want you to
think about it this way I think at this
point if you’re doing very well
financially you’ll say that probably
money is important to make because life
is pretty expensive diapers are
expensive marriages expensive raising
kids is expensive taxes are expensive
running your paying off your debt your
everything’s are expensive life is
expensive I hope as you’re watching this
you also agree with me that kids need to
make more money and so if your kid can
possibly position himself or herself to
make more money why don’t you want your
kids to make more money become
financially free so good on constant
come come to you for money or you have
to country support them yes so having
said that just bear with me in this
video if it makes sense to you do it
because you could potentially have the
next kid that that’s something very very
big for himself and herself and at the
end of the day you get to for the rest
of your life say that’s my son that’s my
daughter you get to brag for free
forever it’s your blood so let’s talk
okay your kid your teenage entrepreneur
will
go through three phases before you
become successful or she become
successful let’s set us aside for a
second let’s go over here
the first phase they’re going through is
sceptical phase they may come to us as
Namibian million or mom okay mom guess
what mom I’m going to buy you a dream
house one day hey Dad guess what I’m
going to buy Ferrari one a Lamborghini
wondering like oh son please money
doesn’t grow on trees you don’t know it
but words have a lot of power you just
affected that kid’s dream okay so
they’re going to come to you I’m
starting a business I’m starting an
online business I want to do this I’m
getting into financial services I want
to get my real estate license I’m
thinking about starting an online I’m
thinking of selling this I’m thinking of
selling this on eBay Amazon whatever
okay if you’re skeptical your kids 13
years old 16 years old 18 years old 19
years old 20 or they’re living under
your roof your painter builds your paint
you have all the rights to challenge
your kid if you’re paying for all the
expenses so I’m giving you the support
so my challenge to you is this is what
I’d be doing I’d be saying give them a
challenge test them so what’s the test
are you really serious about this right
then I need $500 start this business
that I need $1,000 that I need $200 I’m
telling you not to give it to them so
I’m telling you give them a test so
what’s the test okay no prompt son if
you can show me that you can go out
there and with such-and-such product
make $300 this week I’ll match your $300
test if you can go out there and show me
online that you can make $200 in the
next two weeks I’ll match your $200 test
if you can go out there and I can you
can show me that you’re willing to work
hard and so some of the stuff that we
have in the house
that we need to get rid of and do garage
sale and on Sunday he or she stays out
there for 12 hours and he sells three
hundred ninety dollars or six hundred
twenty dollars you max something with
them give him a test give him a test I
had a lady in my real estate agent
Karen she’s incredible at what she does
she raised her kids she’s very
successful her husband’s a a senior pro
golf golfer and one day we have a lunch
or a night and she was telling me I said
you raise your kids
since when my kids were young I told
them I want to show you guys how a cow
is going to pay for your college she
goes and buys these kids a cow and
teaches the kid
how to milk the cows and they keep this
gal for years and with the money the
kids kept buying more cows than more
just one cow led to two cows three cows
all these stories would count and all of
a sudden the cows ended up paying up
their college education and the cows
made money back to pay up to buy more
cows and the kids are now all
entrepreneurs because she taught them
what it is to become an entrepreneur you
can have a very big impact in your kids
so one is test them number two encourage
them support them give them referrals
for instance let you see I’m a 14 year
old kid and I’m thinking about being a
what do you call a node there’s a name
for it not long what is it a lot more
but there’s a name that they say not a
gardener there’s there’s another name
for it there’s a landscaping business
right okay if they’re doing that and
they start with yours and they start
with neighbors give them referrals call
six neighbors and say hey Mary do you
mind if my son comes in and if you can
pay him something for a good job he did
help them out if you don’t I totally
understand tell the neighbors about it
give them some referrals hey son you
know honey my son just got involved in
this this do you mind if he comes in
presents it I just want to give them
some support okay great somebody holds
your favor give them referrals right but
first test them test them to see how
serious they are that’s skeptical next
phase your kids going to faced it it’s
the survival page so when your kid goes
through the survival phase this is make
or break and let me tell you what types
of kids there is out there what type of
performance there’s an in life so there
is the one that responds well of no
matter what you tell him or her he or
she is going to win period okay so let’s
say that’s the 10% of the audience that
no matter what this person is going to
figure out a way to win because they’re
just determined that way there’s your
obsession to make it work I believe
there is also group that no matter what
you tell them they’re going to do
nothing because there’s just a
population B there’s nothing you can do
they’re just not going to do anything
not going to follow up no problem if you
test them properly you know who’s who
right but then there is a group in the
middle there that I believe your words
has so much effect that during this
phase the kids the last appointment of
the day makes it or breaks it for them
let me take with the last appointment of
the day you you know why here’s why I’m
a 13 year old kid I’m excited about
going out there doing something to
becoming an entrepreneur
or I’m fired up I go throughout the day
no one buys everyone rejects me everyone
says know everyone says all this stuff
then I come home and I say mom no one
bought from me and no one did this and
you what you say dictates what I do
tomorrow let me give you an example you
say I told you we’re wasting your time
doing all that kind of crappy stuff that
stuff doesn’t work guess what I quit
because you’re my last appointment of
the day I told you this stuff doesn’t
work somebody don’t wasting your time
with all this crap you but all these
hats you thought hats we’re going to
make money as I made my money I would
buy hats from a 99 cent store San Jose
Sharks at and Clippers heads you know
who these teams do these two teams were
the worst team in sports
I would buy these hats for 99 cents that
was settlement school for seven dollars
I’m going school with two backpacks one
was books one was hat and I would go and
it wasn’t because you know I was doing
good in class but I would go and all of
a sudden I would sell the taxi $7 $6 $7
or $6 $7 or $6 I would sell those things
and I made money for myself but survival
faces about make or break your words are
going to determine if this kids just
going to say mom you’re right mom
I’m just going to go apply at Burger
King mom you’re right mom I’m just I’m
just going to go and eat mom you’re
right mom your dad you’re right that I’m
that I’m not supposed to be and then you
crush this kid’s heart and then this kid
one day is going to be 49 years old
sitting on a couch eating chips got a
regular job on a second marriage but at
one point this kid had a dream and you
could have just gone lit that fire rub
okay now I’m not telling you all of it
is on you I’m not telling you that
parents I’m not telling you it’s not on
you all I’m telling you is we asked
parents I think we can do a better job
in breeding some of these kids into
entrepreneurs and not just putting them
in a box to say the government tells me
you need to go to college to become
successful and so if you go get a degree
you will become successful if that
really works for a hundred percent of
kids what if this kids excited I got a
sister of mine my nephew Sean this kid
walks around thinks he’s Neymar
literally he thinks his name are the
other day he got the name arches did you
see the snap she posted when he got the
new Neymar jr. shoes he’s like doing
backflips he’s so fired up his mom
Poulet and CEO mack water his dreams
their watering his dreams so he’s
getting excited about this dream I think
we can do a better job many of you are
doing a great job at it
I’m just saying also goes the same with
entrepreneurs not just school it’s not
just for some kids are attracted to
sports some are attracted to school and
some are attracted to politics some kids
are attracted to business so what let’s
see what they could do they could be the
next big entrepreneur that creates a lot
of jobs so make-or-break
last appointment power of words
hear them out support them and once they
become successful and you’ll know when
they become successful family comes to
my place and they see and they oh my
gosh Pat what kind of a house yesterday
I’m looking at a home and I got some
family in town and I’m looking at a
15,000 square foot home with six point
nine million dollars and wearing this
exclusive community and all this other
stuff and my mother cannot believe this
stuff like what is going on here why is
there a four hundred thousand dollar
Lambo why are you why what happened with
all this stuff and you were just a kid
in school that everybody doubted you and
nobody thought you were going to do
anything and you gave up in life and you
went in the military and all of a sudden
you came out and became successful once
you can become successful guess what get
out of their way just hear them out just
support them don’t feed too much into
their ego as well because you don’t want
their egos to get the kids egos too high
don’t be more into it if the belief is
low build them up just kind of keep them
right in the middle always remind them
to stay humble and what’s matters and
what’s important of life and all that
other stuff but don’t also make him feel
guilty for achieving a lot of success if
that’s important to them let them do
that do that as well for them to go out
there and live their dreams so this is
my suggestion to us parents and teenage
entrepreneurs at this point if you
haven’t yet shared this with your
parents do so but I also have one last
thing I want to challenge current so
some parents I want to speak to you I
grew up in a family Middle Eastern
moment that my mother’s Armenian and my
dad is a Syrian my mother’s last name is
Rojo Chien my last name is bad David my
dad’s last name is bad David so in a
Middle Eastern community you’re expected
to become 3 things when you grow up
lawyer engineer or doctor that’s just
what’s considered to be a kid who became
successful so
all the parents talk amongst themselves
they all say my son is a lawyer my son
is a dentist my son is an engineer for
Raytheon oh my gosh and my son works at
Sears oh my son is an insurance oh he’s
an insurance oh okay it’s okay it’s
going to be okay God is good all the
stuff and stuff right okay man I am so
glad I didn’t become the engineer the
lawyer or the what was the other one the
doctor I’m so glad I don’t take that rod
I’m so glad that that didn’t happen to
me not saying we don’t need more
engineers doctors or dentists or
attorneys I’m not saying that all I’m
telling you I’m glad finally I realized
I wanted to become an entrepreneur but
some of you guys struggled with one
thing parents and I feel bad for you
because there’s a lot of pressure on
parents today and it really bothers me I
go to a lot of different places as I
speak and parents always come up to me
and they bring up this topic especially
recently and Pat what do I do what kid
what school do I send my kids work my
husband and I spoke we’re willing to
sacrifice our 401k and take the money
out and the other day I talked to my tax
and accountant guy we have $300,000 in
our 401k but if we take it out we have
to pay this and 59 and a half and what
about this part and what about we’re
willing to do all that stuff just for
our kids to go out and get a degree
really you really think that’s the best
thing for you to do for your kids you
really think that’s the best thing to do
for your kids
I think that’s being questioned today
more than ever before because you got to
realize you know we started colleges and
entrepreneur started colleges and
universities
okay so colleges and universities the
idea of education was by somebody so
what if we can create a way for all of
us to learn what if we can teach the
future about school and math and English
and whatever their language was that’s
how it started many many years ago right
but it went from education into business
some of the biggest businesses today in
America are nonprofits called colleges
and universities with 30 billion dollars
in their endowment contract and they
don’t have to pay taxes for it you and I
do they don’t have to pay taxes for it
they have more money than many of the
fortune 500 companies in their bank
account because you give them money and
they paid this much in taxes think about
that for a moment right there and I
think we’re at a moment right now that
maybe
a lot of them are starting to question
these things because parents are you
know young parents nowadays they’re 15
years old they’re sitting there saying
do I really pay for everything for this
kid so I wrote a book I wrote a book
that many of your kids in school are
reading right now many people around the
country are reading right now and now
many parents are sharing this book with
each other is called drop out and get
school drop out and get school in this
book we answer six questions why do we
go to college in the first place who
should go to college and who shouldn’t
can I succeed and do great things
without college why do tuition and
textbook cost such months as much as
they do how colleges simply become a big
tax-free income business tax free
business are the subjects taught in
college sufficient for life or do we
need an upgrade and there’s a part
dedicated purely to parents I want you
to read this this is purely to parents I
want to hear your views if you want to
go read the reviews on Amazon the books
only been out for a few weeks go read
the reviews on Amazon see what our
people what other people are saying
about this book it’s been already sold
to over 30 countries around the world
and people are starting to debate this
topic and saying this makes sense I’m
getting parents commenting I’m getting
parents the other day kid 13 year old
kid bought the book with the mother’s
credit card mom not knowing she left it
Amazon logged on the kid is reading the
book the mom says give me the book I
want to read it to the mom Rita says
this makes sense and she sends me an
Instagram post and says my kid read this
region Instagram post I want you to read
it and I want to hear from you by the
way you post your reviews on Amazon I
look at every single one of them if you
post your review on Amazon I’ve read
every single one of the reviews on
Amazon but if you want to personally
snap me as well my snap code is here to
the right Paul is going to be over here
it should be here to the right send me a
snap you can send me an email but snap
is easy for me to respond back to
because I want to hear your thoughts
share this with your principal share
with your soccer mom other kids that
you’re dealing with that see what they
say about it see if you’re the only one
that reads it and says some of the stuff
makes sense and again I think it’s an
important topic for us to start talking
about because I think the more people
become entrepreneurs and find ways to
make money on their own economy will do
better jobs will do better everyone will
do better and they’ll create jobs for
other people who don’t want to become
entrepreneurs
engineer the doctors the lawyers the
designers to support the operations all
these other guys but I think
entrepreneurs make a very big impact and
we’re positivity and I think you get a
lot of value once you read this book
drop out and get school so would that be
and said thanks for watching everybody
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