How Can We Help Our Children Achieve Their Dreams?

In this insightful episode of Whinypaluza, Rebecca speaks with Margot Machol Bisnow, author of "Raising an Entrepreneur: How to Help Your Children Achieve Their Dreams" and former FTC Commissioner with 20 years in government. After her son started an organization that connected young entrepreneurs, Margot became fascinated with what makes entrepreneurs tick—and discovered that the way they were raised had striking similarities.

What if the key to your child's success isn't pushing them toward straight A's, but instead supporting their passions—even when those passions take time away from homework?

After years in government service, Margot Machol Bisnow pivoted to researching what makes entrepreneurs successful, inspired by her son's journey from college dropout to founder of Summit. Interviewing 70 entrepreneurs and their parents, she discovered that despite diverse backgrounds, successful entrepreneurs shared key experiences: they had someone who believed in them, pursued passions outside school with parental support, and were encouraged to learn from failures rather than being punished. 

Margot advocates "leading by following"—supporting children's natural interests even when unconventional, while maintaining clear household expectations. This approach helps children develop grit, resilience, and confidence needed in today's rapidly changing world.

Key Takeaways

→ Successful entrepreneurs had someone who believed in them unconditionally, typically a parent.

→ All had passions outside of school that their parents supported, teaching them grit, resilience, and adaptability.

→ Parents should notice what brings their children joy and encourage these interests, even if unconventional.

→ Instead of punishment for failure, parents asked "What did you learn?" and "What would you do differently?"

→ The traditional path to success has changed—parents need to be open to alternative routes for their children.

Quotes from Margot
"Everyone needs someone to believe in them, and sometimes that's even your kids."

"If you're afraid to fail, you're afraid to take risks, and if you're afraid to take risks, you're never going to be an entrepreneur, and probably at almost anything you do, you're not going to be successful."

How to Reach Margot

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