The days after Easter always seem brighter. There’s a sense of renewal, hope and new beginnings – even in times of crisis such as the one we are all experiencing now. I realize that it’s not about the current state of affairs. Those are fleeting and will resolve in ways that we may or may not be able to control. It’s about the traditions that ground us.

When traditions are passed down, they reinforce the values that we want to teach the next generation. In our family, business talk inevitably seeps in whenever the family gets together. I suppose it’s because most members of our extended family are involved in business, whether it’s the family business or their own enterprises. My youngest, Bella, said that when she was younger, she felt left out whenever the grown-ups talked business around the dinner table. I suppose that’s what spurred her to try entrepreneurship herself.

I myself am asked how I managed to raise kids with an entrepreneurial bent. I never forced my kids to do it, but I think it was osmosis. Since we always talked about business at home, the children picked up a thing or two along the way. So yes, I think we did plant the seeds early with the children in our family.

Bella started with small, safe projects that taught her responsibility and diskarte – like charging a toll for people who entered the house (I suppose she also saw a market because we entertain a lot and there was a constant stream of people going in and out of the house). So right there, she learned core ideas of business, such as observing and looking for opportunities.

However, let me say that children born into a family of entrepreneurs have no monopoly on the entrepreneurial instinct. Families encourage the younger ones to become entrepreneurs in various ways. We teach them problem-solving and creativity by letting them figure out solutions on their own. We teach them the value of work and reward by assigning simple, age-appropriate tasks that come with rewards. When children see that effort leads to tangible outcomes, they internalize a fundamental principle of enterprise. We teach them customer focus by ingraining in them a sense of empathy. When they see themselves in someone else’s shoes, they learn a key lesson in market research and insight.

Also, we must trust them by giving them agency over important matters. Fiscal basics, for example, can be taught by letting them manage their allowance. How much do they want to save and spend? How do they want to use the money that they saved so that it becomes more than cash that is stashed away in a piggy bank? Christmas, birthdays and graduation are times of financial windfall for kids, and it’s also a good time to teach them good money management.

Children also learn far more from what we do than what we say. Some powerful lessons a parent can give their children are values like integrity, humility, curiosity, charity and service. Every day spent with them is an opportunity to demonstrate these values. Bella, for example, learned a lot from anecdotes about her Poppy, my late father Jose Concepcion Jr. She was lucky enough to have spent a few years with him, but beyond that, Dad’s values lived on through us, his children. We, in turn, passed on what he taught us to our own kids.

One thing we successfully passed down was an entrepreneurial spirit. I see the same trait in other business families: the next generation either looks for ways to improve the family business or explores starting their own ventures. I tell my children to go and find their own interests first, one that hopefully matches their own skills and talent. Magsy and Christian seem to have taken an interest in the F&B business, Bella loves fashion, beauty and retail, while Monica has tried her hand in fashion and wellness, and is now helping me with my work in ASEAN and Go Negosyo. 

One of the things that gives me a sense of accomplishment is seeing my children imbibe what my own father taught me: that we must be interested in the welfare of others and, by extension, the country as a whole. My children know that they come from privilege, but they also know that they must use that advantage for a higher purpose.

They also know that they come from a family of respected men and women. My son Christian and his cousin Michael understand this. Reflecting on Joecon’s life while being interviewed for a book, they told the biographer that it is important that they do not tarnish their Poppy’s legacy, that the family is held together by moral values. This is mentorship on a higher level. While we may learn the basics of business from our parents, it is really the values that keep us together and keep us on the right path. Their Poppy led by example by walking the talk.

I found my own way through my work with MSMEs. It was already a given that I try and do my best, making sure RFM and our other businesses do well; but what my father taught me is the importance of keeping Philippine industries healthy. MSMEs, especially, are an indispensable part of the economy. Uplifting them helps small communities and creates jobs where they are needed.

As my children plan their own ventures, I entrust them with the values that shape how they view their own role in the world. That is the most meaningful inheritance a family of entrepreneurs can offer. If we start them young and start them on the right path, we nurture not only competent future business owners but compassionate leaders who understand that enterprise and community flourish together.

 Originally Published in Philippine Star