Passing it on: Making Crypto Business trans-generational.
A few day ago, i read a post by @uyobong about teaching our children about business. On the comment section of that post, @trabajosdelsiglo said "to my son I am teaching about trade and stock market I hope to give them strong pillars of e-commerce." @ph1102 As a birthday present, I have bought my son a ledger wallet and store there a bit of BTC and ETH... A couple of days after that, he started to play Splinterlands, and he is earning a bit of DEC tokens every day...
Now one might think that this guys are showing up for what they have done for their ward or trying to show how much love the have for their kid. Whatever you would choose to call it, my views on this is that they are trying to pass on a sustainable means of livelihood to their children.
What Inspired This Post
Reading through the post of @Uyobong about teaching our children business, I got really inspired and it reminded me about Richard Brownson and his mother Eve.
Richard Brownson is a world renowned author in leadership, in his description, he called his mother Eve a human whirlwind. His comment about her "No matter what the latest big thing that was, she'd always manage the whole process from ideas development to product design, to making deals with distributors, delivering and selling the goods. She was a lone worker. Nobody else could step in her way not even her immediate family, it was her show and hers alone.
This genius of a woman failed in her business pursuit because soon after her demise, all her business energy died with her because she never carried any of her children along. Lone workers don't sustain wealth.*
I know a man in my community that owns a trending business, he is into rental business where he rents canopies and chairs for events. Now this business on a good day generates over a $1000 dollars weekly but I doubt the sustainability of that business because no member of his immediate family has the technical know-how on sustaining the business when his knees will grow feeble.
Any entrepreneur who peck's the longevity of his enterprise to his existence is not a sustainable wealth creator.
The Concept of Passing it On or Succession Planning Succession planning is a act of recognizing and developing new leaders who can replace old leaders when they leave, retire or die.
In business, succession planning entails developing internal people with the potential to fill key business leadership positions in the company.
The concept of passing it on is a very vital concept that must be put to play if the future of the business must be sustained.
The major reason why small family business folds up is because team leaders of the business had failed to build up a proper succession structure to sustain the business after they might have left the scene. Small business succession tends to focus on how a business will continue to operate once its founder or initial leadership team retires or otherwise leaves the business. While small businesses on the whole often fail after the departure of their initial leadership team, succession planning can result in significantly improved chances for a business's continuation.
Passing Crypto Business On I will like to roll back to the two individuals i mentioned at the beginning of this post and try to make a little elucidation to the meaning of their actions.
- @trabajosdelsiglo said "to my son I am teaching about trade and stock market I hope to give them strong pillars of e-commerce. Now first and foremost, he is making his son aware of the trending technology and this is what I call "ISAS" which means Identifying the Skills and Abilities in a Successor.
There is no proper engagement in a business where the fellow is not taught. @trabajosdelsiglo may not have seen any entrepreneurial skill in his ward but he definitely understood that anybody can be taught to perfection. Entrepreneurs are sometimes made.
- @ph1102 said "As a birthday present, I have bought my son a ledger wallet and store there a bit of BTC and ETH... A couple of days after that, he started to play Splinterlands, and he is earning a bit of DEC tokens every day..."
In both parents, i see people that understands the importance of passing on the business fortune of their family. A couple of days later the son started playing splinterland and is earning a bit of DEC tokens and this is teaching your child responsibility and making them self reliance.
Fact is that the business of cryptocurrency mighty continue dipping as hive is dipping currently but the truth remains that it will not totally dip to the point of non-existence and so to make sure that it keeps being a source of livelihood for the coming generation, we both crypto users and appreciators must develop the passing it on mindset.
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