{"id":20141,"date":"2024-02-08T12:00:00","date_gmt":"2024-02-08T17:00:00","guid":{"rendered":"https:\/\/conversational.com\/?p=20141"},"modified":"2024-10-22T03:14:39","modified_gmt":"2024-10-22T07:14:39","slug":"forty-eight-percent-of-entrepreneurs-grew-up-in-a-family-business","status":"publish","type":"post","link":"https:\/\/conversational.com\/forty-eight-percent-of-entrepreneurs-grew-up-in-a-family-business\/","title":{"rendered":"Forty Eight Percent of Entrepreneurs Grew Up in a Family Business"},"content":{"rendered":"\n

Did you know that 48% of entrepreneurs grew up in a family business? While a little more than half of all entrepreneurs come from a background with zero entrepreneur experience, many people that start their own business grew up seeing their family run a business of their own.<\/p>\n\n\n\n

48% of Entrepreneurs Grew Up in a Family Business<\/h2>\n\n\n\n

Sometimes entrepreneurs wonder why more people don\u2019t make the choice to escape the 9 -5 and start their own business. It seems like a natural pursuit for those who feel drawn to it \u2013 there\u2019s more freedom, more income potential, and it enables you to build the life you want.<\/p>\n\n\n\n

Some entrepreneurs know this because they\u2019ve seen it first-hand \u2013 in family-run businesses they grew up watching their parents or family members run. In a study by OnStartups, they found that 48.1% of entrepreneurs said they grew up in a family business. That\u2019s what researchers call \u201cstatistically significant,\u201d meaning it points to a real pattern that deserves more attention.<\/p>\n\n\n\n

If almost half of entrepreneurs grew up in a family business, it begs the question: Does entrepreneurship begat entrepreneurship?<\/p>\n\n\n\n

Does entrepreneurship begat entrepreneurship?<\/h4>\n\n\n\n

If growing up in a family business actually \u201ccaused\u201d entrepreneurship, every child that lived that scenario would become an entrepreneur as an adult. As the statisic above shows, that\u2019s not the case.<\/p>\n\n\n\n

What we can<\/em> see from that statistic is that being exposed to the notion and reality of entrepreneurship from an early age seems to be a factor in what makes some people choose to become entrepreneurs, but it isn\u2019t a requirement. Some people choose to become entrepreneurs because they are actively seeking something they believe that lifestyle will provide. Some become entrepreneurs because they\u2019ve seen family members do so successfully. Some don\u2019t so much choose entrepreneurship as it \u201cchooses\u201d them \u2013 a serendipitious idea or transition from freelance to a successful business.<\/p>\n\n\n\n

To answer the question, entrepreneurship does not necessarily begat entrepreneurship, but it certainly makes it more likely. In the same way that having a parent who graduated college makes you more likely to graduate college, having a parent or close family member who was an entrepreneur makes you more likely to pursue that path yourself.<\/p>\n\n\n\n

What you learn from a family business<\/h4>\n\n\n\n

When to speak up.<\/strong> You learn when to speak up when you grow up in a family business \u2013 if you don\u2019t, you\u2019ll never be heard among the chaos!<\/p>\n\n\n\n

The value of freedom.<\/strong> You learn how much it means for your parents, aunt and uncle, grandparents, etc. to set their own schedule and hours from an early age. You see how much they value their freedom to make those decisions.<\/p>\n\n\n\n

Dealing with consequences.<\/strong> Inevitably in a family business, you\u2019ll witness someone make a mistake. Many times, that person will be you. You\u2019ll learn how to deal with the consequences or you\u2019ll watch someone else deal with them. Either way, you\u2019ll learn a lesson.<\/p>\n\n\n\n

Interacting with customers.<\/strong>\u00a0You\u2019ve seen your parents smile at a customer who was so angry, their eyes were bulging out of their sockets. You\u2019ve seen them send flowers to a loyal client when they lost a loved one. You\u2019ve seen them open up early or stay open late to accommodate a regular who couldn\u2019t get there during store hours. The family business taught you about customer service without you realizing it. If you’re running an online business, a virtual receptionist might be just what you need<\/a>.<\/p>\n\n\n\n

Managing the backend.<\/strong> The paperwork, finances, what my parents referred to as the \u201cnitty gritty\u201d \u2013 that stuff is a gold mine for a young future entrepreneur. It\u2019s boring, it\u2019s tedious, it\u2019s hard work, and it teaches some valuable lessons. Success isn\u2019t all fun stuff and customers. It\u2019s numbers, strategies, deadlines, and frustrations, too.<\/p>\n","protected":false},"excerpt":{"rendered":"

Did you know that 48% of entrepreneurs grew up in a family business? While a little more than half of all entrepreneurs come from a background with zero entrepreneur experience, many people that start their own business grew up seeing their family run a business of their own. 48% of Entrepreneurs Grew Up in a Family Business Sometimes entrepreneurs wonder … Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":20142,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-20141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-entrepreneurs"],"acf":[],"yoast_head":"\nForty Eight Percent of Entrepreneurs Grew Up in a Family Business - Conversational LLC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/conversational.com\/forty-eight-percent-of-entrepreneurs-grew-up-in-a-family-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forty Eight Percent of Entrepreneurs Grew Up in a Family Business - Conversational LLC\" \/>\n<meta property=\"og:description\" content=\"Did you know that 48% of entrepreneurs grew up in a family business? 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