9 Ways to Convince Your Parents to Support Your Startup – Not Just Financially

For many young entrepreneurs, getting their parents’ support for a new venture can make a huge difference – emotionally, practically and even financially. But it’s not always easy to explain to Mom and Dad why, instead of getting a “real job,” you’re putting everything on the line to create a new technology startup. It can be done, though, and these youthful startup veterans explain how:

Tip #1: Don’t get too full of yourself. “Show your parents that you have thought [your idea] through to the long term, not just what you hope happens in six months,” says Kelsey Meyer, Vice President of Digital Talent Agents. “Also, do not try to compare yourself to Facebook, Twitter or Instagram – those are the exceptions, not the rule, and parents know it.”

Tip #2: Do your homework. Scott Thompson left a comfortable career with a good salary and excellent health benefits to start a business 5,000 miles from home as part of the entrepreneurship program Start-Up Chile. “After their initial reaction of shock, sadness and worry, they quickly came around to being the #1 fans of my startup, Bungolow.com,” Thompson says. His parents provided expertise in graphic design, including helping design the company’s first logo. “Their support was influenced not only by unconditional love, but also the fact that it was clear I had done my homework, and that it was not just a spur-of-the-moment decision,” says Thompson. “I was thorough in explaining why I wanted to do it, and why this was the time to do it.”

Tip #3: See their perspective. “Until my third year of being self-employed, my parents – who are baby boomers – thought I was out of my mind,” says Faiyaz Farouk, whose company,