12 Similarities Between an Entrepreneur and a Parent

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How does one get into the entrepreneurial mindset?

Entrepreneurial mindset

Typically, an entrepreneur would create a plan to guide him. An entrepreneur will also continuously assess himself to determine his personal strengths, while making use of the resources available, and responding to unforeseen events.

When things don’t go according to plan, an entrepreneur does not give up easily.

He weighs all the possibilities — both positive and negative, but still remains calm, persistent, and hopeful that everything he planned will eventually materialize.

In a way, becoming an entrepreneur is a lot like becoming a parent.

SIMILARITIES BETWEEN A PARENT AND AN ENTREPRENEUR

Running a household is like running a company. Why?

  1. You never know what’s coming until it strikes you.

    There are a lot of books that claim to help you get through any situation. But you realize the magnitude of a challenge only when you are already caught up in it.

  2. You learn that life is constantly changing.

    You realize that you need to adapt quickly to the ever-changing world, or you'll get left out and won’t have the faintest idea how to get on with your life.

  3. You doubt your own capabilities.

    You learn through experience to hone your skills and do your job responsibly.

  4. You had the no idea who you would become.

    When you were younger, you may never have imagined putting diapers on your baby as a parent, or being thankful for technology as an entrepreneur. Your thoughts may have been leaning towards a different direction then. But then you learn to just enjoy the ride and reinvent yourself.

  5. You can never be a “know-it- all”.

    Being a new parent and entrepreneur will drive you to seek guidance from others who are more experienced. You learn to seek advice from the experts, ask people for help and delegate tasks.

  6. You learn that life doesn’t come with a map.

    You won’t realize what it takes to be a parent or an entrepreneur until you become one. No amount of training will bring you to your goal. You need to take action.

  7. You realize that some plans just don’t work out.

    Sometimes a setback along the way may make you feel like a failure. During these times, the best thing to do is to just let go. Trust that is it all a part of life and that there are better things in store for you.

  8. You learn that time is of the essence.

    Your children will need your presence as they grow up. You will need to provide them as much quality time as you can. The same goes with running a business.

  9. You realize it gets easier after the first.

    Remember when you had your first baby and you felt lost and alone? The second baby or business, however doesn’t feel quite as hard. You feel more confident because you already know how to cope with different situations.

  10. You choose people you are comfortable with.

    When you surround yourself with people who share your interests, you develop a sense of comfort. You know you can share your thoughts and ideas, trials and tribulations with these people without being misunderstood.

  11. You learn to trust yourself.

    Sometimes you just have to go with your gut feel despite what others say.

  12. Your ideas about money change.

    Money is important. However, when you become a parent, you think less of yourself. You focus more on the needs of your children. Having quality time with your children becomes far more important than money.

An entrepreneur’s goal is to gain financially, thus he always seeks opportunities to grow his money. But successful entrepreneurs also display perseverance, dedication and a passion for doing good.

(Armando Bartolome is known as the Philippines’ Franchise Guru, a business mentor to numerous micro entrepreneurs who are now themselves big names in the industry. This article is reposted with the author’s permission and was previously published on The Business Mentor column posted by ABSCBN News. For questions and more information, you may contact Armando "Butz" Bartolome by email:philfranchiseguru@gmail.com or on Twitter @philfranguru. His website is www.gmb.com.ph)

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