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How to Convince Your Parents to Support Your Startup

Planning on becoming an entrepreneur? Now all you need is the support of your parents which is the most important success-factor in terms of a business startup. Your parent’s approval doesn’t only provide a great deal of motivation, but financial support as well.

However, let’s admit, the entire convincing-process can sure be daunting! The real problem is knowing how to drop the bomb, expecting a motivational response from your parents. Here are some tips as to how you can convince your parents and get them to sincerely believe in your idea and entrepreneurial prospects.

  • Avoid acting impulsive
    Parents are older, more responsible and mature. They have seen the world and may not approve of superficial, unrealistic or impulsive ideas that may connote impracticality. Make them believe that you’re aware of what you’re doing and you’ve systematically managed and planned the entire process of your business having done thorough research of its likely results.
  • Show that you’ve accepted failure
    Make sure to explain to them how you’ve come to terms with the mistakes you’ve made previously, having taken responsibility of the consequences of your mistakes. And make them believe that you will not make the same mistakes again.
  • Honesty
    Your parents only wish for you to have a happy life and for you to follow and live your dream. Be honest, and ask them for help. They will not let you down, and appreciate the honesty.
  • Provide detail
    It would help tremendously to explain your idea in detail so the parents understand exactly what your product is and why it is likely to be successful. Outline the business strategies you would want to employ and go into the usefulness of your product and the creativity behind your idea. It should have a USP – ‘unique selling point’. Also provide them with forecasted cash flows and other financial evidence. If it’s any good, what reason do they have to demotivate you? Unless you’re thinking of opening up a bar or a smuggling agency!
  • Respect their perspective
    This is the ultimate strategy and achieves excellent results. Respect the values and opinion of your parents and acknowledge the fact that they belong to relatively out-dated generation. They’d highly appreciate consultation. Explain the process to them tactfully, keeping their perspective in mind whilst making sure the main idea does not lose meaning or struggles to hold ground, for that matter.
  • Pre-plan and practice
    It’s important to do your homework before the ultimate convincing meeting. Remember, you have to provide them with solid reasons as to why you’re willing to take the risk and letting go off a perfectly stable job for a business start-up. Make sure you have your speech prepared and ideas finalized, so they know you’re confident in your decision.
  • Focus on convincing them of your passion
    If you are truly passionate about what you’re headed towards, in terms of entrepreneur-ship, it will automatically reflect through speech. Don’t hesitate and explain to them, how you want to experience the challenging journey and live your dream. They’re your blood, they will feel what you feel and support you.
  • Reveal your qualities
    It’s of paramount importance that you make them believe you have the ability to handle the role of an entrepreneur. Display your skills and abilities and let them judge you. Have a considerable amount of knowledge in the areas associated with your business-type.
  • Present the negative consequences
    Do not attempt to conceal the potential start-up problems the business start-up is likely to face. New business set ups encounter multiple issues, lay them out. They will appreciate the honesty, and it would show that you have a practical approach.

These factors are very helpful; don’t be afraid to speak to your parents. After all, they are your parents and want what’s best for you. All you need is the few simple tips stated above.

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Written by HerCareer is a career community of women seeking consult, inspiration, and the tools needed to succeed in the workplace.