112. Practical Principles for Raising Entrepreneurs with Eric Knopf

Today on the Rainmaker Family Show we have none other than Eric Knopf! This guy's such a big deal - Forbes called him a top thought leader on Twitter, and he's even been named 40 Under 40 by Business Journal.

He's grown some seriously successful businesses, like Webconnex, a Sacramento-based tech company that processes billions and reaches millions each month. But more importantly, he's a dad to two awesome kids who are set to change the world! In this episode, we dived into his latest book, "Raising Entrepreneurs". It's chock-full of tips and advice for parents who want to raise world changers too!

Our conversation was just so fun and enlightening! Eric shared some hilarious stories from his journey, like how he convinced his wife (who comes from a family of doctors and lawyers) that he could beat the odds of nine out of 10 businesses failing.

He talked about his success with Webconnex, and how he's learned that successful entrepreneurs share unique upbringings fostered by their parents. Basically, the kind of upbringing where parents aren't afraid of their kids' dreams and fully support them in all their aspirations, no matter how unconventional they might seem.

We even talked about how important it is to instill a secure identity in our kids. To let them know that their value isn't tied to what they do, so that if they fail (and let's be real, failure is part of the process), they'll understand that it doesn't mean they're failures.

Basically, our chat with Eric was all about how important it is to foster an entrepreneurial spirit in our kids. To teach them to be resilient, to overcome obstacles, and to move things forward.

And hey, even if your kid doesn't want to start a business, there's so much value in this mindset. Even if they end up being an entrepreneurial person within another company, or what we call an 'intrapreneur', the skills and mindset they learn are invaluable.

 

So, grab your cup of coffee (or tea, or whatever floats your boat), kick back, and get ready for some major nuggets of wisdom in this episode!

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Episode: minute by minute 

• 0:00 Introduction to today’s show

• 1:00 Eric Knopf, dreams encouraged and an entrepreneur formed

• 8:33 The importance of developing a secure identity in your kids

• 12:05 The average age fear of failure and others’ opinions start to matter

• 13:45 Teaching your kids choices and consequences

• 18:44 Understanding the connection between work and money

• 22:54 When your kids should work for their own things

• 26:22 Tips for lending and borrowing with your kids

• 29:31 Raising entrepreneurial kids and creating decision makers

• 31:29 Healthy tips for releasing control 

• 34:54 Key actions for growing yourself as a leader

• 39:48 Dreaming forward with Eric Knopf 

• 42:45 How to connect with Eric