Lessons Fathers Teach About Entrepreneurship

By Rebecca Murtagh | Rebecca's Thoughts on . . .

What Dads Teach Us About Entrepreneurship

Entrepreneurs learn valuable lessons from their parents – even if their parents were never entrepreneurs themselves. This post is a Fathers Day tribute to my father who taught me so many valuable lessons – many of which have become part of my life as an entrepreneur. I miss him every day and my gratitude for the lessons he taught me continue to grow as time goes by. Happy Fathers Day to all you dads out there!

How many of these lessons in entrepreneurship did your dad teach you?

The Journey to Success Is Its Own Reward

Despite the dream of ‘making it big’ there is little satisfaction in having someone giving you success – you must earn it. A very successful multimillionaire advised me to enjoy the journey because achieving success that is what you will cherish as the sweetest part of becoming successful. Dads instill work ethic and perseverance that is required of an entrepreneur. Success is that much sweeter for the entrepreneur willing to plow through challenges and see it through.

Appreciate the Value of a Dollar

An Entrepreneur must understand the value of a dollar if they wish to achieve financial success. Whether your dream is financial independence or going big with an IPO, Dads are often the greatest influence in teaching financial discipline – how to plan, research and make in smart financial decisions, which translate to ROI in the world of entrepreneurship.

Great Expectations

Fathers show their love by providing a stable, safe environment for us to grow, along with the expectation that we will fulfill our potential. Encouraging dads teach us to push ourselves to move beyond our comfort zone to reach new heights. The innate drive to challenge the status quo and exceed expectations is at the heart of entrepreneurship.

Commitment to Excellence

“If its worth doing at all, it is worth doing right”. A father committed to putting in the extra time and effort to arrive at a quality solution teaches his children, by example, the commitment to excellence. A short-cut can result in failure of a solution, money lost, or hurting others – creating a mindset of ‘settling’ and an ever-present fear of failure. A commitment to excellence may not always lead to a winner, it does provides entrepreneurs peace of mind and satisfaction of putting forth their best effort.

Perseverance

The day-to-day life of an entrepreneur is far from glamorous. It requires long hours and many setbacks and challenges. Good thing dads are so good at teaching perseverance! That ‘can do’ attitude helps entrepreneurs see failure as mere bumpers in the pinball game of entrepreneurship. Minor glitches and major setbacks become key lessons in guiding entrepreneurs toward a successful outcome.

What would you add to the lessons Dad’s teach about entrepreneurship?