5 Business Lessons To Learn From Your Parents

Children always learn the ways of life from their parents and teachers. Thus they have to be very careful around children as their behavior will highly influence the children. The behavior of parents can be inspirational in various aspects in any individual’s life. One can take clues from their day to day behavior, habits to implement in their professional lives. There are some behavioral highlights from the parents one can definitely use as ‘Business Lessons’!

How to negotiation?

Have you ever gone shopping with your parents, especially your mother? Have you noticed the way she negotiates for exactly what she needs? She negotiates with shop keepers, venders and even rikshawallas. She easily convinces the person in front of her to work by her will. The negotiation also works at home. Whether convincing you to drink a whole glass of milk or convincing your father to help with household work, her negotiations always work. You can learn this superpower from her and negotiate your ways in various business projects.

How to close a deal?

There is a dialogue in a famous Bollywood movie from a very talented actor, “keh diya na…bass..kah diya…”(I said it means I said it). The dialogue highlights the notion of ending the conversation at his will and the person in front of her has to obey as per his wishes. In many households father of the family has such a strong commanding power on his family. His one stair or word can end the conversation as per his will. You can surely learn from this and use his maneuver to close the business deals the way you want. Create an influence by bringing your father’s commanding charm to the business table and win over a deal with same influential words once spoken by him.

How to compare and choose the best option?

Be it choosing the correct vegetables from cart, picking the right insurance plan from too many options, selecting the perfect clothing piece for every member of family; both of your parents have always been best at choosing. They help and protect family by comparing and choosing the best option from lists of choices. You can do the same when getting raw material for you business or hiring new employees. Always go through your available options and choose the best for your company just like your parents did for you.

How to manage your staff?

Be it a small nuclear family or a huge joint family, everyone has to make sacrifices or adjustments when they stay together. Have you ever witnessed your parents taking control of wary situations at home or at family functions? The way they manage any debacle in family circles is worth appreciating. Even in a running business you may face same situations with employees, partner companies or outsourced work force. Implement all the actions you learnt from your parents to tackle such dubious situations and make most of it!

How to keep a track of your finances?

Running a family and a business has a few basic similarities. You have to be always very careful with ups and downs on a regular basis and having a solid financial plan is a must too. Remember the times when your father used to make monthly and yearly budget to manage expenses against inflation or your mother saving mere rupees in the kitchen cabinet as ‘emergency fund’? Both these memories can serve as the most important business lesson you could learn from your parents. Always write down and keep a track of your finances, keep an emergency fund and tally your expenses vs. your expenditure. This will not only lead you towards a sound financial backing in your business but will also help you stand strong in times of business ups and downs.

Learn from your parents to always evolve and succeed. Take a business loan today to reach those extra heights of success in your business.

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