How might the following characteristics impact success in small business: Life experiences; parental influences; career displacement; and education?
Life experiences, parental influences, and education impact the success in a small business. I grew up with small business owners. When I was very young (under 6) my father was the manager at a Firestone Tire Center. He had moved up in the ranks at Firestone in Ohio and was transferred to Florida to manage his own store. After my father left Firestone he opened his own gas station/garage with towing services. Many a night I would get up with him and go out on calls. I would also go to his gas station and pump gas for customers or help around the shop. By the time I was in high school I would go to the gas station to work at the register and pump gas, I helped with the accounting and tallying the gallons sold. After working at the gas station I would go with my mother to help her clean offices (she has her own office cleaning business). I did not resent having to work so much I thought it was normal. The perks were great; I had a 1978 Ford Mustang Blue with a white top while in High School. I was also able to fill up the tank with gas whenever I needed to. My life experiences working with my parents along with my parent’s influence of working hard helped to shape my work ethics. I think nothing of working long hours and on weekends. Owning your own business does not leave much personal time, especially in the tourist industry, but when we do have time for ourselves we make the most of it. I try to make as many of my daughter’s soccer games as I can along with taking her to her other activities.
With the accounting experience I gained working for my father taught me that I enjoyed accounting so that is the education I pursued. The classes I enjoyed most were math, business, and accounting courses. I have my degree in Business Administration. My husband and I own Nantahala Cabins and my life experiences, parental experience and education have helped shaped our endeavor. My husband built and maintains the cabins while I take care of reservations, accounting, marketing, etc.
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Hello Jeanette,
Thank you for that wonderful post. I hadn’t thought to much about how parental influences could affect one’s outlook on business ownership and success. Your post was very informative and helped me to see that people who grow up in homes of entrepreneurs may just be more comfortable with running their own business. Some people may be trained from an early age to work hard and take care of a business because that’s what their parents did. Sure enough you became an entrepreneur yourself, congratulations!
In your case, your life experiences helped groom you for entrepreneurship. I think that is great. Often the children of entrepreneurs become entrepreneurs themselves (see the Library Entrepreneur Blog for some statistics). In other cases, people watch their parents toil at some job for decades and never advance, and the children vow not to experience the same fate so they turn to entrepreneurship. Regardless of the motivating factors I hope many people become entrepreneurs. In fact, I would love to see entrepreneurship or business ownership courses taught as part of our primary school curriculum.
I found your story about your family’s entrepreneurial background very interesting. When I think back, my family’s only entrepreneurial experience happened when my father partnered with our neighbor at the time to open a small sports complex. He had just retired and it seemed like the perfect thing. Everyone in the immediate and extended family were very excited and some even invested $5000 in the business. Unfortunately, the neighbor neglected to pay the taxes on the business (he knew better) and my father lost his entire investment and was close to losing his personal property. I learned a lot from the experience! Fortunately, I learned to make sure that you really know what your “partners” are doing and to choose wisely!
Experience really is the best teacher!
Hi Jeanette,
Your fortunate that your background includes entrepreneurial life experiences, positive parental influences, and you have taken courses related to entrepreneurship. All these experiences should help you with your entrepreneurial journey. Being able to learn about business while young, and to see your parents take risks and experience the hard work required for success yourself is great preparation for being an entrepreneur.
While balancing family life is often an overlook part of being a truly successful entrepreneur,it can be a challenge. Is your daughter involved with your businesses like you were with your family’s?
Jeanette,
I think it is great that your parents raised you the way they did. I think a lot of children these days are missing out on that experience. I wish I had that accounting background! That is what I am missing most when I think about going into business. I will have a steep learning curve. I’m sure your work ethic has helped greatly in your success at Nantahala Cabins.