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Helping Your Grandchildren Understand The Magic of Business
I am a grandparent and I want my grandchildren to have a happy and successful life. I want your grandchildren to have a happy and successful life too. As parents and grandparents we try to help our children to have a good education and adopt a good moral code. But I think we can do more. let me explain
The saying goes that humans learn from our mistakes. Human nature is such that we are destined to repeat mistakes that others have already made many times. History lessons in school are a great opportunity to examine how kings, clergy, politicians, soldiers and other important figures have made good and bad decisions. My memory of history lessons at school was a succession of boring ‘facts’ rather than more interesting questions such as ‘What mistakes did Henry VIII make to ruin his marriages?’ or “Why did the Roman Empire succeed and why did it ultimately fail?” Success and failure are much more interesting than boring old facts and we learn a lot more if the subject is interesting.
History tends to focus on the great and the good (and the bad), but not many people lead lives so exceptional that they go down in the history books. However, all grandparents have lived their lives through ups and downs. Sometimes we’ve been successful, sometimes it’s just been a case of outdoing ourselves, and sometimes we’ve made some pretty bad mistakes. All these experiences are valuable because there are lessons to be learned from them. Here is a golden opportunity for the grandparents generation.
It is a painful experience to watch your children or grandchildren make mistakes that you yourself made many years before. It is also a great joy to see how your grandchild or other people follow in your footsteps successfully. In many cases, your grandchild will not know what happened in your life and will not understand what you have learned over the years unless you tell them.
Great craftsmen can pass on knowledge by example. Great plasterers, decorators, masons can show how it is done and can show good examples of their work. It is more difficult to pass on knowledge of the business world. My career was in the business world, using the luck of my mathematical brain to improve business efficiency and subsequently helping to build a business in which I had a stake. This effort was not always easy, but the result was a pleasant life and the feeling that the wealth I had accumulated was accompanied by an improvement in the wealth of my clients and colleagues and society in general.
This is the magic of business. The entrepreneur naturally focuses on his own well-being, and if it’s a good business, as if by magic, its success helps many more people. This magic is not well enough understood. It is not generally taught in schools, except perhaps in theoretical economics courses. This is not understood by many politicians who seem to believe in their own special form of magic whereby money from somewhere is placed in their hands to be spent as they see fit.
My grandchildren and your grandchildren will benefit greatly from understanding the magic of business. It will help them to know how the root of everything good in our lives is based on business. This does not mean that everyone has to be an entrepreneur, but a great deal of good comes from understanding that without business, both manufacturing and service, there could be no health service, no teachers, no police, no firemen, no army, no navy, no Air Force, no civil servants, no council workers, no state pension. These are all great benefits that make modern life safe and secure that would not exist without business. The corollary to this is that if we want more of these benefits, the company must be the source.
This article is the beginning of my quest to explain these principles to grandchildren everywhere. My follow-up articles will aim to pass on the lessons I’ve learned over many years in hopes that the grandchildren can get a head start by starting where I left off instead of where I started. Let them celebrate the magic of business.
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