🚀Parent’s expectations
How do you manage parents' expectations?
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If it was up to my parents, there would be no OM. ❌
And they are both entrepreneurs, yet they didn't want me to be an entrepreneur? 🧐
But why? Would it be so bad to be an entrepreneur? 🤨
We are looking for the answer to this question...
But before we dive in, let's see... 💦
🚀 How's the challenge?
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It will also help you to Spotify the BookBase a bit, if you already have:
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🎯 The new targeting system works well: the OKRs
I'm reading the book about it, John Doerr - Measure What Matters. In it, John writes specifically about how Google, Intel and other big companies like them have been able to set such good goals for themselves. 📉
And that's what we're going to take you guys through, but I might write a longer post about that when I've managed to embed it! 📝
🧠 We are moving slowly, but with good reason
As you can see, the number of users has barely increased or even decreased for quite some time. Well, that's because we grew too big too fast before. Last year the number of users grew 5x. 📉
And we didn't have the knowledge to get to that level, let alone the next. So this led to the loss of users. Since you can't skip learning, you can only shorten it, so we put thousands into learning and that's why we are optimizing so many systems now! 📚
We have a major update or 2 smaller ones coming soon - don't know how we will release it yet - in which all our knowledge will be put in place! 🏆
Thanks for sticking with us so far! 🙏🏻
Now we can get started on the much-anticipated topic... 🪓
💭 Why are our parents "holding us back"?
They want the best, don't they? 🥺
Then why don't they let you do it?! 😞
Well, the statement is only half true, they want NOT ONLY the best, but the SAFEST. Sometimes in their minds they get these two terms mixed up. 🤔
But it all stems from the past.
In the past, it was really possible to study at university → get hired for a job → work there for the rest of your life and get paid a fair wage. 👴🏼
So, you both made a good living - if you were in a good company - and it was "safe", but more on that later. 🏢
That's why this dream image stuck in our parents' minds:
🎓 Have a degree
🏢 Find a good job
💪🏼 Work hard
🔒 Live "safely" and be satisfied with that
Well, as much as it pains me to say it, this career is not as bright as it was in their day. And why is that? 💎
I'll start a little further back so it's clear to you! 🔭
👨🏽: Why do you work?
To make a living, to have money. 💸
👨🏽: How do you make money?
🅰️ You go to work for a company
🅱️ Start a business (Start a business, Forex, Webshop, etc.)
Now let's just look at option 🅰️
👨🏽: What are you paid based on at a company?
Because of your knowledge and talent to solve problems. The fewer people who can solve those problems, the more you get paid. Right? 🧠
That's why the janitor makes less than the CEO. More people can do the janitor's job BETTER than the CEO. 💼
But a janitor earns more than a street sweeper - if there still is such an occupation - because his job is more complicated than that of a street sweeper. 🧹
💡 Side note: It's also important to note that the Diploma is pushed so hard because with that paper you jump ahead of the street sweeper and the doorman in the "ladder". In fact, in most cases, you can even avoid hard physical work.
Get it? 💡
Great! Then we can move on! ⏩
In the old days, not many people had a degree, so those who did stood out from the rest of the workforce. Ergo, they earned more! 🎓
Because they could solve more specific problems! 🧩
But as time went by, more and more people were able to go to university and more and more young people got a diploma. So, the value of the Diploma started to decrease. Because more and more people graduated, more and more people were able to solve the same problems that you are solving because of your Diploma. 📉
+💡Side note: Most of what you learn at university is 10 to 15 years behind, so you can't solve so many problems with the knowledge you have acquired, because time has passed by your "solutions".
🧑🏼: So, what you are telling me is that because there are more graduates, the value of my diploma is reduced! ❓
👨🏽: In essence yes, but I will give you 2 examples and you will understand better:
If more of the Money is printed, then its value decreases. In simple terms, this is inflation. 💸
Or, if you have 1 serious sports car, let's say a Ferrari. Something happens to it and it won't start, but there is ONLY 1 Ferrari mechanic in your town. So, he can charge you almost anything to fix your problem and it's worth enough to you to pay for it. 🏎️
But what if 99 other Ferrari mechanics moved to your town? Suddenly 100 people could solve your problem! Then you could pick and choose who is more professional, cheaper or even more sympathetic. That one mechanic has already lost his competitive edge. 🛠️
👨🏽: Now do you understand? 🤔
Great, then it's time to talk about the "security" I promised you above. 🗣️
It used to be a much safer place to work than it is today. 🔒
Because fewer people could solve the same problem. - So, it was harder to replace. 💪🏼
Because close relationships used to matter a lot more. - So, people didn't even think about replacing you. 🤝
Because there was no Internet and home office - So you didn't have to compete with foreign workers. 🌍
You earned proportionately more money - So you didn't have to work on a side job and use other tricks. 💰
💡 Side note: With this fixed income you could afford to have a house, a car and support your children.
Today, the world has opened up, with a wealth of opportunities. I, as an employer, am looking to use my resources efficiently. 🌍
If you are looking for 1 Hungarian and 1 South African with the same skills, same work, for a job that can be done online. But I would have to pay 3x as much to the Hungarian, then I COULD choose the South African candidate. 🇿🇦
Because it is cheaper and can do the same quality of work. 💰
So, jobs are not nearly as safe as they used to be! ⚠️
🧑🏼: So, are you now saying it is safer to do business?
👨🏽: Not necessarily, I am simply saying that if you do it right, you can be safer! 🛠️
But relax it's not as disastrous as you think it is right now! 😅
Before we go any further... 🚦
A small request: if you liked today's article and learned something new from it, I would be very grateful if you could send it to a friend or just share it on social media. It would help a lot in getting more people to read my thoughts.
Thank you! 🧡
Okay, let's see... 👀
🧐 How can you convince them?
Let's go back to our basic setup:
"Your parents want what's best and safest for you." 🏡
So, they'll have a hard time agreeing to a business idea that hasn't proven anything at all. 😓
You can experience the same thing yourself. Suppose you're in a horse race and for some reason you have to bet. You have 2 horses, one is in his first race and hasn't proven anything yet, the other has won 50 races.
👨🏽: Which one would you bet on? 🐎
You bet on the second. 🥇
Your parents see it the same way. 👨👩👧👦
First horse = starting a business from scratch 🚀
Second horse = going for a job that's "secure" 🏢
Relax, your situation is not catastrophic yet. At least now we know the underlying motivation. 😌
So, all we have to do is somehow prove to our parents that the "1st horse" isn't so bad after all. 😉
So maybe they will start to believe in it too. 🙏🏻
📕 Book recommendation: Chris Guillebeau's book "Side Hustle" might be perfect on this topic. It explains exactly how to start a side project outside of school or work. And then prove it! Of course, it's also up in BookBase! 🎧
Translated, once you can show some results with your business, your parents will slowly start to trust you and your idea. 📈
The bigger the result, the more they trust you. 💡
Let's say you're a senior in high school and you started a small business before graduation, alongside school. You don't want to go to university because you think it's not for you. 🏫
You take my advice and try to show results to your parents. You manage to make 10,000 HUF in 1 month and you tell them, hoping they will support your dream and allow you NOT to go to university. 💰
Then after you show them, all you see are angry eyes and parents who don't believe in you at all... 😠
Well, that's because the result you showed is too small. 🔍
Let's say you have the same situation, but with a different business idea that made you 500.000 HUF in 1 month. You tell your parents about it and you'll get a listening ear! 💵
But be careful, because if you had too good an idea and suddenly made a few million, that's all your parents would ask... ⚠️
Are you sure this is legal? 🤨
Based on a true story... 📖
So first and foremost, they need to see a result that is big enough and they see that you could do this several times, month after month. ✅
Once you have that, I promise you they will support you much more. 🙏🏻
But we don't stop there, because not all parents are so "simple". ❌
There are 3 types of parents:
👏 The one who trusts you from the start and supports you, even without results (they are rare, I call them unicorn parents).
🥲 The one who trusts you, doubts you but doesn't show it. However, they would be happy if you "came to your senses" and chose a job (these are normal, good parents).
😠 Someone who doesn't give a damn about your opinion, he has a life path for you and wants to push you along it one way or another. Typical case where you have 6 parents who were lawyers and you have to be one too (with these parents you have to look for the underlying motivation and solve it, for example, in this case he wants you to be a lawyer to keep the law firm going, but if you help him find a solution, he might be more open to the business).
So, let's face it, it's not a simple stunt. 😕
It took more tactics for me to get here than it did to graduate. ♟
I went through the same thing back in the day. I wanted to be an entrepreneur, but I only had attempts that made very little money. My parents didn't put me down, but they didn't believe in me that much either, which is fine (I wouldn't have either if I were them). 👨👩👧👦
Until one day, when I earned a larger sum. I clearly remember when I told my Mum I could see the relief in her eyes. Since then, their trust in me has been rock solid and they never question me (although they still try to steer me towards less risky paths within the business). 🪨
I think that will last forever! 😅
But let's see... 👀
✅ What exactly do you do?
[ ] First step, look at what you want to do? Being an employee isn't bad either, but then you'll have to pick up skills that are really in short supply. So, you can stand out. 🧠
[ ] Step two, if you're going to go into business, find out what your parents think. 💭
[ ] Step three, look at what kinds of businesses you're interested in and how you can start small so you can show some results. 🔍
[ ] Step four, work very hard to get the results you want. 💪🏼
📕 Book recommendations: Now here I am recommending several books in one to help you succeed in this feat. "Ready, Fire, Aim" by Michael Masters, "Made to Stick" by Chip Heath and "From Zero to One" by Peter Thiel. These are perfect reads to get you started! You can find them all in BookBase! 🎧
[ ] Step 5, outline to your parents what you did, how you did it and that it's totally legal (I mean, I hope you'll do it). 📝
[ ] Step six, show your parents how you would do this in the future. Ergo you can repeat it several times. 🚀
[ ] Step seven, outline the possible pitfalls and a solution for each pitfall, so they can see how prepared you are and that you have thought ahead. ❌
[ ] Step eight, discuss with them a specific goal and a deadline. For example: if I manage to earn 500,000 HUF by the end of the summer, you will support me on this path if I don't go to university. 🎯
[ ] Step nine, work even harder to exceed the goal so your parents can really relax and support you. 🦸🏼♂️
Book recommendations: And if you struggle with productivity and motivation then "Managing Oneself" by Peter Ducker is a must read for YOU. Consider it a must read in life school! Don't worry it's also up in BookBase! 🎧
Why was the list so long? 🧐
Because that's specifically how I did it! 😉
Step by step I copied the model I went through back then. 👣
So, I hope this will help you at least as much as it helped me! 🙏🏻
🔥 Challenge
The previous Challenge was a success, as many good topics were suggested, such as todays. So now I've got topic ideas for a long time! Thanks a lot! ✅
The next Challenge is to integrate OKRs into the team. 🎯
Then after that, to start trying out the marketing channels I've already read and picked up, one by one! Maybe that's what will give the App the biggest boost! 🔍
If YOU have any ideas too, don't hesitate to post them on Instagram right away! And I promise I'll thank you! 🎁
📖 What have I read now?
I'm still reading the book "Measure What Matters" by John Doerr. It's getting more and more exciting, just our days are getting busier and it's hard to make time for it. 📈
That's why it would be nice if it was already abridged in BookBase, so that I could listen to the gist of it about 2-3 times and move on much faster!
In the meantime, I also bought the masterpiece "Cashvertising", that will be my next read, combining Psychology with Marketing. 💸
I think it will help me a lot in improving my advertising, but we'll see!
🎧 What have I listened to now?
Mostly I listened to Edu and Kokesz during the day, when we brainstormed together on how to incorporate or improve the BookBase. ⚙️
It's really nice to see two people who are completely different and yet understand each other so well. Kokesz strives for perfection while Edu strives for speed, which is why they make a good team! 🤜🏼🤛🏼
🥳 Fun Fact: We played so much chess at the beginning of the Roadtrip that I got in the mood and started playing online at Chess.com. The problem with that is that it sucked me in quickly, because my personality is that I always want to be the best. So I play several matches a day to improve as fast as possible! ♟
✍🏼 Top quote
"Your parents don't want the BEST for you, they want the safest for you, which they think is the best."
🧪 Question of the week
What kind of parents do you have?