Should you choose to throw him out on his a$$ simply because he's not following the path that you did… Could have permanent and irrevocable consequences on your relationship with him forever.
I'm a son of a father that doesn't understand me, but worse, doesn't even try.
You obviously do since you're here. So my advice is to listen to him, motivate him to talk to you about his progress and check if his ideas are solid and backed by business logic, not vague dreams of success.
Be there for him but making sure he's accountable for his actions. Family is a support structure but he's an individual now.
In other words when you give him your blessing, it is not like "I'm responsible for your actions". It is "Your ideas are solid so go for it. I'm here for you if you need it".
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