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A Week With Grandkids-And Other Business Lessons

June 14, 2025

This past week we had grandkids staying at our house. Without parents. Just us. Yeah. A week with two children, 7 and 10, 24 hours a day for seven days. Here’s how it went.

Drive a 7 hour round trip to pick them up. A day at the splash pad. A day at the park. A day at the museum. A day at the zoo. Endless episodes of Phineas and Ferb. Shopping. Trying to guess what they would eat. Then a sad 7 hour round trip drive to take them home. Now it’s over and we can get back to work. Only now we miss them.

Makes me wonder how I ever got through my own kids’ childhood. But we did and now it’s their turn (snicker, chuckle). What does this have to do with business? I’m glad you asked!

When our kids are growing up we all try to teach them what they need to know to survive and prosper. We teach them how to be good people and hope that sticks with them. At some point we have to let them do everything on their own. They have to make decisions, take action, make mistakes, and go down the path that’s right for them.

Raising kids should teach you two lessons that you can put to use in your business. If you don’t have kids yet…well, you’ll find out.

1. Your business is like your kid. You start it from scratch, or maybe you acquired it from someone else. You put your time, and energy, and love into building that business. But at some point you have to stop doing everything in that business and let your business run itself. If you have trained your team to be leaders, and taught them what is necessary, you can step back and let them do what they are good at. They are all grown up and ready to fly on their own. Give them more to do and you do less. You can be strategic and do only the things you are good at that you love doing. Let the team do the things you wouldn’t let go of before. The things you hate doing and don’t do very well. Your business will thank you for it by growing and being fun again.

2. Don’t expect your family members to love your business just because you do. Don’t expect to leave your business to your kids and think they will be eager to take over the “family business.” The thing about those darn kids is they have minds of their own. You just spent a couple of decades teaching them to think for themselves and be self-sufficient (hopefully). Don’t be surprised when they tell you they would hate doing what you do and that they’ve made their own career choices.

Be prepared for the time when none of your family members want to take over your business. Make sure your business is sellable and attractive to buyers so when the day comes that your kids say no, or if something happens to you and you aren’t there anymore, someone will want to come in and buy your business.

How would it be for your family to get stuck with a business they can’t do anything with?

My hope is that you are all better parents than I was and better business owners. You WILL make mistakes and fail periodically at both. Use that to learn and everything will be fine.

Thanks to all our subscribers! And happy Father's Day!

That's it for this time. See you next week!

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