There is an ongoing debate over which parenting style is better for children, authoritative or permissive. Should parents provide structure and have strict expectations or prioritize the child’s happiness and act more like a friend than a parent? If parents want to raise a successful person with entrepreneurial qualities, the answer is neither.
For her book “Raising an Entrepreneur: How to Help Your Children Achieve Their Dreams,” Margot Machol Bisnow interviewed 70 parents of highly successful people from all different family structures to find what they had in common. The result was 99 stories of people who are now changing the world that show readers how to raise creative, confident, resilient children filled with joy and purpose. In addition to being a writer, Bisnow is a mom, parenting expert, and former FTC Commissioner.
“It was an extremely diverse group — of different races, religions, income, family structure and education,” she wrote about the families profiled in her book for CNBC. “But as I talked to each, I discovered a common theme: respectful parenting.”
What is respectful parenting?
Respectful parenting differs from authoritative and permissive parenting and combines some elements of both. A respectfully parented child will have expectations for academics and behavior but can choose their after-school activities and follow their interests. These children are allowed to explore and are free from following hard-set rules. Instead, they are treated more like adults than children.
Parents and their daughter looking at the computer.via Canva/Photos
How do you raise children to become successful?
While researching her book, Bisnow found that the parents of highly successful people often went to extremes when allowing their kids to follow their passions. “Every single one of these ‘extreme’ things the parents are doing is listening to their child. And, they’re taking what their child says seriously, as opposed to saying, ‘I’m the parent, I know best,’” Bisnow told CNBC.
Respectfully parented children are given plenty of opportunities to develop the confidence they need to become successful as adults. They learn to believe in themselves, pursue their passions, find new ways to solve problems, and develop single-minded determination to achieve their goals. Kids who are allowed to follow their hearts as children are likelier to pursue their dreams as adults because they believe in themselves.
A child learning how to play the guitar.via Canva/Photos
Bisnow’s work counters the idea that children must be forced down a narrow path of achievement to become successful adults. Highly successful adults learn as children how to find opportunities others don’t think exist and attempt new endeavors even though they may not have the proper credentials. This mindset is entirely different from children who are raised to follow rigid rules and traditional tracts for academic and career development.
“I think the major myth is that there is a precise path that must be followed,” Bisnow told Planning to Wealth. “In fact, that’s not true: the important thing is to follow where your child wants to go, not mandate that direction. The direction has to come from the bottom up, not the top down. I had a tennis player and a songwriter when my kids were in high school. We don't play tennis, and we don't write music. Those were their passions, not mine.”