Teresa Johnson raised her daughter while running a small business. Her daughter became a small business owner at age 15. — Teresa Johnson
If you could create your own fantasy board of directors, who would be on it? CO – Connect with thought leaders across the business sector to help you solve your biggest business challenges . Here, we ask experts about the lessons that parents and small business owners can learn at the same time.
In this edition of Ask the Board, we talk to Teresa Johnson, CEO of Color Me Mine, a leading paint-your-own pottery franchise, about what she’s learned from running several businesses while raising her daughter. I’d like you to talk about it.
There’s no denying that balancing parenting and entrepreneurship isn’t easy. But it’s certainly possible and can change your life (and your child’s life) for the better. Here’s what I’ve learned (and what my daughter has learned) from being a mom and running a business.
the value of hard work
Showing a child that they can achieve anything with hard work has been invaluable to her journey, both in school and in life. Did I miss something because I worked late at night or early in the morning? Yes. Did she miss out on activities because she stayed with me late at night or early in the morning? Yes! But understanding that what you get in life is based on what you spend cannot be replaced by just talking about it. She saw it in action. Indeed, there could have been worse places to raise children.
Ability to teach, not just talk
We all know that our children are always listening to our life lessons and advice on how to grow stronger and taller, but my daughter has never seen those life lessons actually put into practice. I could see what was happening. She watched how I treated my employees, she watched how I treated my customers, she watched how I led my team. And most importantly, she was observing my decisions when no one else was looking. I’ve found that kids who watch their parents become entrepreneurs don’t just brush off the life lessons, they absorb them all.
Failure is as important as success
Small businesses don’t have it easy. She witnessed (and felt) failure with me. It turns out that failure is just as important an experience for her as success. She didn’t have to make a few mistakes later on in her small business, but she learned that failures are just as likely as successes, and how you deal with those failures determines your success. .
Showing a child that they can achieve anything with hard work has been invaluable to her journey, both in school and in life.
Color Me Mine CEO Teresa Johnson
self-awareness and humility
In small businesses, no one gets there on their own. It definitely takes a team of people to win the game. We all have strengths and weaknesses, and we need to recognize and appreciate the strengths of those around us. I have learned that understanding my strengths, and mostly my weaknesses, is the best way to live embodying humility and servant leadership. Always stay humble so that you have a chance to succeed someday.
work/life balance
I learned the true meaning of work-life balance before the term was even coined. Balancing business responsibilities and family time has honed my time management skills, increased my productivity, and helped me excel in both areas.
Give confidence to women entrepreneurs
My daughter saw me start my own business. She watched me renovate the space, get building permits, and even painted the walls to help. Everything she learned as a teenager led her to start her first business as a 15-year-old high school student and go on to open five more franchise stores (with her husband, who also comes from a small business family). Well, I didn’t know. ) by age 29.
Enriching heritage
At the end of the day, what really matters is what we leave behind. Raising my daughter in a small business taught me the importance of building something lasting, whether it’s business success or instilling strong values and work ethics in my daughter. Both are important legacies that will be passed on to future generations.
CO— is dedicated to bringing you inspiration from leading and respected experts. However, before making any business decisions, you should consult a professional who can advise you based on your personal circumstances.
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Published October 28, 2024
