Nearly two-thirds of today’s teens want to become entrepreneurs according to a 2022 survey. But how do parents raise their children so they have the right traits to succeed? Many parents resist letting their children figure out their own path for fear that they won’t succeed. However, only doing what their parents think will make them successful will result in young people becoming dispirited and unhappy.

The So-What: Parenting expert Margot Machol Bisnow interviewed 70 entrepreneurs and their parents to learn what’s needed to incubate an entrepreneur successfully. A recurring theme was letting their children take the lead in their own life and then providing steadfast support. Parents need to lead by following, regardless of where their child wants to go. Children who are allowed to figure out their own passion, and then are encouraged in that passion, live lives filled with joy and purpose.

Margot Machol Bisnow spent 20 years in government, including as an FTC Commissioner and staff director of the President’s Council of Economic Advisers. For the last 10 years, she has spoken to parent groups about raising creative, confident, resilient children who achieve their dreams. She served as an Advisor to EQ Generation, an after-school program in New York City that gives children the skills to succeed; on the Advisory Board of the MUSE School in Malibu, that prepares young people to live consciously through passion-based learning; and on the Board of Spark the Journey in Washington DC, that mentors low-income high school students to achieve college and career success. Her new book is Raising an Entrepreneur: How to Help Your Children Achieve Their Dreams – 99 Stories from Families Who Did. Learn more at raisinganentrepreneur.com.