Tuesday, April 18, 2006

Raising Entrepreneurs

I read this from the Outstanding Investor Digest and love to share this with everyone with 4 years old or younger. You may still have a chance to become the mother of the next Warren Buffet. This is an excerpt from Warren Buffet's talks in Berkshire Hathaway's shareholder meeting.

"I recall seeing something many, many years ago where they tried to correlate business success with various variables. And they looked at grades in school, whether they got MBAs and all of that sort of thing. But what they found is that the best correlation with business success turned out to be the age at which they first started their own business. The people who got very interested in starting lemonade stands or whatever tended to correlate better with business success than any other variable they looked at."

When Buffet was five, he set up a gum stand on his family's sidewalk and sold Chiclets to passersby. John Templeton started his business at age four, growing beans in his mother's garden and selling them to a local country store.

I always thought school grades are most important for kids. Now, think again!

Forgiveness

This is about a true story happened at Boston. A little girl publicly forgave the convict who put her in a wheelchair for life.

When the accident happened three years ago, her mother chose forgiveness instead of anger to deal with the tragic event. She taught her daughter to forgive and to move on with life. A graceful act and a precious lesson it is for her children and everyone else.

We can't expect there are no obstacles in our children's life. There will be problems. There will be mistakes. There will be failures. And there will be unfairness. I believe that the most critical task for parents is to show kids how to deal with the difficulties in life. We need to accept that bad things do happen and believe that it will always be better tomorrow.