The reason we love our parents is because they loved us first. Every single company should take this advice.
You have to respect your parents. They are giving you an at-bat. If you're an entrepreneur and go into the family business, you want to grow fast. Patience is important. But respect the other party... My dad and I pulled it off because we really respect each other.
It's a very painful, eye-opening experience to realize, "Wait a minute, my dad actually doesn't want me to be successful because he's not happy." Whether you call it misery loves company, it's not like parents are bad people. It's a human trait. It's just a thing.
Part of why you love your parents is because they loved you first. Brands need to do that.
When I was 17 or 18 I wanted to become a wine expert, and my parents wouldn't let me drink. So I was devastated. All I could do was read, and I read and I read. And I'd read something like, you know, 'Subtle hints of cassis.
I think being born in Belarus, coming here with nothing, my parents working every minute - that instilled a huge competitive advantage, a chip on my shoulder, a work ethic. Immigrants win a lot and they win a lot because of a couple core things.
An amazing piece of advice for a lot of kids, 50-year-olds, whoever is listening right now: Saving money is a good strategy. I didn't have stuff, but it was because my parents were saving. They were saving. We didn't get toys. They told us to go outside and paint a rock. It was very, very smart because after seven or eight years, he was able to buy a liquor store of his own in Springfield, New Jersey - Shoppers Discount Liquors. He built up a great business.
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