Highlights of #StartupChat with Linda and Richard Eyre, The Entitlement Trap

 

#StartupChat is a twitter event we host weekly to help startups grow. Join us every Wed 2pm EST on Twitter with hash tag #startupchat!

This past Wednesday, national best selling authors Richard and Linda Eyre (@entitlementtrap and @richardeyre) chatted with us about their new book “The Entitlement Trap” and parenting tips. Linda and Richard Eyre raised 9 children, ran election campaigns, authored best sellers, and speak GLOBALLY!

Thank you to all who participated and to Linda and Richard for the great tips!

 

Here’s highlights of the conversation:

What’s your #1 tip for success for LIFE?

michelledoodads: Time management. Successful people plan, organize their days and prioritize tasks.

cynthiaschame: Never Assume! Ask questions of everyone, as often as you can!

momsinbusiness: Get support from other #momsinbusiness They really get what you’re going through -www.mibn.org

ifredborg: Take full responsibility.

 

Your latest parenting book is @entitlementtrap – why is NOW the time for this message?

richardeyre: 65% of parents today say entitlement attitudes are biggest challenge, something we must overcome.

richardeyre: Begins to get serious about 7 and that is time to start emphasizing.

entitlementtrap: Every parent to talk to is affected by entitlment. Even if they’re kids aren’t, their friends are!

richardeyre: Kids get entitlement attitudes from government, from media, unfortunately, from parents too.

 

At what age should we worry the most about entitlement issues/potential?

startupprincess: I know with my own kids I see that they show entitlement issues when they compare themselves to other kids

richardeyre: About 7 or 8 kids actually like responsibility, give jobs and chances to earn OWN money.

richardeyre: Set up “family economy” where kids keep track of task completion & get paid accordingly wkly from family bank.

richardeyre: Once they perceive ownership of their earned money, pride transfers to what they buy with it. One of the great things about getting kids to perceive EARNED ownership is that it is the antidote to Entitlement.

 

What’s the antidote for entitlement issues?

richardeyre: FAMILY ECONOMY!

 

How do you recommend we monitor/control our children’s spending/goals?

richardeyre: Be very careful to set up the family economy very carefully and to tell kids that just those things trigger PAY. Let them earn their own money.

richardeyre: Once kids feel ownership of money, you can move to ownership of goals, of grades, of conflicts, of values, of choices! What you are trying to do is make your household a michrochosm of the real world to prepare them for being on their own.

richardeyre: The more mistakes kids make in the family economy, the better, because consequences are small when they are young. They also, once they have their OWN money, are empowered to give….to church, to charity, to a world need they see on TV.

 

What can parents do to set their family up for success when they work at home? Outside home?

richardeyre: A family economy is like an infrastructure….or an auto pilot….so you can work and still monitor the family economy.

richardeyre: And parents who work have to have certain time blocks that are JUST for the kids.

richardeyre: Want you to think about this: OWNERSHIP IS THE ANTITOTE TO ENTITLEMENT AND THE PREREQUISITE OF RESPONSIBILITY. The world works on rewards…..and kids can understand that there is a big reason (love and loyalty) and a small reason–money.

richardeyre: Once they have own earned money, and say they want something, your answer is always “Yes, did you bring your checkbook?

 

How do you prioritize your children when you have a job/business?

entitlementtrap: When we were gone a lot we kept reminding them that they are ALWAYS first priority. Their calls came first!

richardeyre: It’s actually easier to prioritize kids when you have a business….the business is to support the kids, not vice versa.

richardeyre: We like the 10-20-70 formula…..Kids get paid at payday, and first write a check for 10% to charity, then one 20% for savings

richardeyre: Family economy leads to great discussions about delayed gratification, value for money, discipline, percentages…so many good!

 

Any other parenting tips we haven’t covered yet you want to share with us?

richardeyre: It really does all come down to OWNERSHIP….just hold that thought…..think about what you want them to OWN.

richardeyre: With real ownership comes initiative, creativity and motivation to do one’s best.

 

You can visit Linda and Richard Eyre at www.valuesparenging.com. If you preorder the book, “The Entitlement Trap” you get a free download and a chance to win prizes!

 

 

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