On the Show: Raising Entrepreneurs

On a recent Houston Business Show I interviewed Troy Dunn, author of the best selling book, Young Bucks. This book is excellent and a must read for parents every where. Furthermore, Troy was an engaging guest. There are numerous reasons why I love the book. It is an easy read and are easily equally easy to apply. Here are a few excellent pointers.

Three Myths About Kids and Money

* A college education is key to success. I'm a big fan of formal education and credit being the first in my family to graduate as a great accomplishment. However, it isn't a guarantee for business accomplishment and often inhibits success by distorting a person's view of failure. Failure isn't disaster (like a "F" in school), but an indication that one should do things differently.

* A job with a good corporation will secure your financial future. This is one of the biggest myths of all. The more you make in such corporations, the more limited your expertise tends to be, and the more vulnerable you are to being displaced. Owning one's financial future is the best plan by working towards owning a business or becoming investors.

* Children should not have to "worry" about when they are young. There is plenty of time to worry about finances when they are adults. This may be the single most important issue that must be addressed. Demystifying money early and empowering your children to take hold of their financial future early are crucial in raising successful adults.

There is much more information, including a list of more than 50 businesses that a young person can start and strategies on getting them going, that makes this book a must read. The book is empowering and the difference it will make in a child's life and the life of the parents is huge. If you order the book through my bookstore, you will get it for less than $15. It may be the best money you spend on your children.

Hear the entirety of that interview here:

Part I: Troy Dunn, best selling author of Young Bucks

Part II: More with Troy Dunn, best selling author of Young Bucks

Part III: Host Kevin Price and Troy Dunn

Troy is a great interview and guest and his book is must reading.

Kevin Price is Host of the Houston Business Show (M-F at 11 AM on CNN 650) and Publisher of the Houston Business Review. Hear the show live and online at HoustonBusinessShow.com. Visit the archive of past shows here.