Sharing - Parenting Tips From Warren Buffett To Set Your Kids Up For Success

~ Posted on Monday, January 11, 2016 at 7:46 AM ~

Businessman extraordinaire and investing genius Warren Buffett wants kids to learn about business at a young age — not so they can start buying stocks with their lunch money, but so they can develop smart habits that will help them in business and throughout their future.

"When a kid at 8, 9, or 10 years old learns the basics of how finance works and how to behave in a business relationship, he or she can apply those lessons throughout their lives," says Buffett. "Practicing those good habits over a lifetime can have huge beneficial consequences, not just for business, but for a person's happiness and even how their families develop."

To help kids learn to develop good financial (and life) habits, Buffett partnered with Amy and Andy Heyward to create the Secret Millionaires Club, which has a new book out: "How to Start Your Very First Business." So what advice does Warren Buffett's Secret Millionaires Club's new book have to offer young people who want to take their lemonade stand to the next level?

1. Don't be afraid to speak up and ask for what you want.

If you need something to start your business — equipment, advice, supplies, a place to set up a table — start talking to people. You may find someone who has the equipment you need and no longer wants it. Someone else may know of the perfect venue for your event or sale. Identify people who can help you and then make the strongest case you can about why they should lend a hand. You may not always get what you ask for. In fact, the best businesspeople in the world are used to not getting what they want every time they ask. But speaking up is an absolutely essential skill.

2. Do your best to anticipate your customers' needs.

Buffett says, "If your service is outstanding, you'll always stand out." So listen to your customers. If you are running a snow-shoveling business, watch the weather forecast. If snow is on the horizon, you can reach out to your customers and make a plan before they are buried under a foot of snow.

3. Start a starter business.

There's no substitute for getting out there and trying things. But if you have a big idea, you may need to start small to raise the money you need for a more costly business. You'll learn a ton from your initial business so you'll be better prepared for the big one. If landscaping is your dream business, you may have to weed a few small gardens first.

4. If you don't know all of the skills you need to succeed in your field, that's OK.

You just need to be willing to figure them out. Take a class, read a book, ask lots of questions. Start out slowly and grow your business as you learn more skills. As Warren Buffett says, "The more you learn, the more you earn!"

5. "Failure isn't falling down, it's staying down."

Starting a business isn't easy. There are going to be bad days, rejected pitches, and unexpected hiccups along the way. Adapt and come up with creative solutions to the problems you encounter. Try a new location, do a clever promotion, or tweak your product to improve your sales.

6. Be honest and fair. Being a person of integrity is invaluable in business and in life.

Be honest about what you can deliver. Be reliable. If you've made a mistake, apologize and do your best to quickly make up for it. When you treat people with kindness and respect, they want to spend more time with you — and that goes for clients, business partners, and friends. Buffett is fond of saying, "You can't make a good deal with a bad person."

7. Give back.

Creating a successful business isn't just about making money. It is about contributing to the world around you. Many of the young entrepreneurs featured in "How to Start Your Very First Business" incorporate philanthropy into their business models. "There are an unlimited number of good things to be done in the world," says Buffett. Be creative, think about what is important to you, to your community, or to the world, and you'll find a way to contribute. And remember, sharing your time can be just as valuable as donating money.

8. Enlist a mentor.

A mentor may be able to walk you through a process that's new to you. Or maybe together you can brainstorm a smart solution to a tough problem. Sometimes just knowing that someone else has gone through what you are going through can make all the difference for your outlook.

9. "Do not save what is left after spending, spend what is left after saving."

Buffett believes that one of the most beneficial lessons a kid can learn is that saving is a habit. If you make saving a habit early on, it will be ingrained in you for life, which can help you avoid countless unpleasant situations later.

Parenting Tips From Warren Buffett


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I came across this article which I must definitely share with you guys as I'm very interested to know your thoughts on this. Do note that sharing this does not mean I agree or disagree with it. For your convenience, I have copied the excerpts from the article here:

A moving Facebook post in which a mother explains how she raises her six-year-old son to treat women with respect and learn the value of money has gone viral. The personal story was shared by Nikkole Paulun, 22, who told her legions of Facebook followers that once a month her six-year-old son Lyle takes her out for a "dinner date".

 She explains: "Once a month my 6 year old son takes me out on a dinner date. He opens doors for me, pulls out my chair, talks about his day & asks me how mine was, pays the bill with money he earned by doing chores, and even tips the waiter/waitress. "

She then explains the reasoning behind this nice family tradition, adding: "By doing this I am teaching him how to treat a lady & how to take her on a proper date.

"How to show that he respects the woman he loves (right now that would be mommy).

"We put our phone and iPad away (except to take this photo) and sit and talk to each other about our days, things we want to do, etc. I'm teaching him proper table manners and that it's rude to sit on your phone on a date with your mom or with anyone else."

She makes a subtle reference to her unhappy past, saying: "Yes he is young but I believe this is something he should learn now. "It's never too early to teach your child how to properly respect others, especially women. As a woman who has been abused & treated like crap in the past, it's extremely important to me that I teach my son how to show respect. Too many men these days have no idea how to treat women or how to take them on a nice date. It's nice to know my son won't be one of them."


What do you think?


** Note: I have disabled the commenting feature on my blog engine thanks to all the spammers who happily spam my blog every day. If you wish to ask me any questions, you can find me at my Facebook page (I'm there almost everyday) or just drop me an email if you wish to maintain some anonymity.

Sharing - 7 Habits Of Great Parents

~ Posted on Friday, January 1, 2016 at 5:59 AM ~

I came across this article which I must definitely share with you guys as I'm very interested to know your thoughts on this. Do note that sharing this does not mean I agree or disagree with it. For your convenience, I have copied the excerpts from the article here:

Kids are fabulous — but frustrating. If you're like most parents, you desperately want to be a great mom or dad and do the right thing. But it’s so hard to know what’s right, and often what appears "right" seems almost impossible to do. (Prime example: staying calm. Please, show me one parent who manages to stay calm all the time!)

 But you know what? Good parenting doesn’t have to be rocket science. As a parenting coach and mom of two myself, there are a few tried-and-true tips that I find work well for almost every parent. Here are the seven simple things that every great mom and dad knows to do:

7 Habits Of Great Parents

 1. They show their anger (the right way).

You’re allowed to get angry. Really. What actually matters is how you display that emotion.

The key to getting this "right" is knowing the source of your frustration. For example, think about those times when you arrive home and have to get dinner on the table and everyone is tired and cranky. It’s always then that the kids keep interrupting and wanting your attention.

But the problem isn’t the kids' interruptions — it’s the workload. So in times like these, instead of barking back at my daughters, I try to explain, “I’m sorry, I can’t look at that now. I’m frustrated that we’re late, and I’m trying to get sorted out and get dinner ready.” This way they know it’s the situation — not them.

2. They wait to dish out consequences.

Many experts say you need to respond immediately when your kids misbehave. But I think it's pretty poor advice.

If you don’t know what to do, it’s perfectly fine to say, “I don’t know how to handle this right now. I’ll get back to you.” You can even say, “I’m so angry I can’t think straight. I’m going to deal with this when I’m calmer.”

In my own parenting, I find that I feel better about myself when I give a considered response rather than a knee-jerk reaction. My kids also get a more powerful message when I have well thought-out consequences and am able to deliver them calmly.

3. They focus on quality time.

You don’t need perfect "work-life balance" — but you do need daily one-on-one time with each child. Even just five minutes of quality time every day can turn your relationship around. For example, my older daughter used to be very challenging. She would constantly provoke me and tell me that Daddy was her favorite.

But when I started spending regular time with her every day, doing an activity of her choice, we became much closer. She transformed from someone who worked against me to someone who wanted to please me. We felt closer to each other, so our behavior changed. We both became kinder and more understanding toward each other. It was truly amazing.

4. They hug their kids when they're being horrible.

When children behave hatefully, it’s because they feel awful about themselves. So they end up provoking other people to behave hatefully toward them. They feel that’s what they deserve. But if you do the opposite, they change. That's why when my daughter lashes out and is mean to everyone, I take her aside. I wrap my arms around her and ask her what’s wrong, and she melts. She has a cry, lets it all out, and tells me what's bothering her. Then we move on.

5. They don't solve their kids' problems.

Raising independent, self-reliant children requires that they make their own mistakes and solve them on their own. So, when your child tells you a problem, empathize — and then hand it back.

When my kids tell me about something they're having trouble with, I bite my tongue to stop myself jumping in and saving them. Then I say something like, “Oh no, that sounds upsetting! What are you going to do?” If they ask for my advice, I say, “I don’t know what you should do, but I can give you some ideas.” After each idea I say, “How would that work for you?” That allows them to think through the consequences and take ownership of the solution.

6. They don't overanalyze.

It’s fine to think about situations and establish what you can learn from them. But sometimes our mind gets a little obsessed and repeatedly churns things over, on an endless, self-flagellating loop. We end up analyzing a situation to death.

When this happens, I recommend telling yourself "thank you, mind" and then moving on to other things. It’s a little like a reset button that allows you to acknowledge the thought and then continue on with your day.

7. They keep compliments simple.

The most powerful thing you can say to your kids isn't "I love you" — it's “I love you just the way you are." And yes, those last five words are critical.

The first time I told my older daughter that I loved her just the way she is, her eyes went huge. She said, “Really?” and I nodded. She looked visibly relieved, and then she melted — it was lovely. It was clearly a very powerful message.

Best of all, we can all use this powerful technique on our kids, as often as we like. Give it a try and see the look on your child's face.

 

What do you think?


** Note: I have disabled the commenting feature on my blog engine thanks to all the spammers who happily spam my blog every day. If you wish to ask me any questions, you can find me at my Facebook page (I'm there almost everyday) or just drop me an email if you wish to maintain some anonymity.