I'm Proud of My Idea, but Not Sure if I Should Involve My Parents in It

By Dr. Robert Wallace

May 23, 2023 6 min read

DR. WALLACE: I've come up with a new idea for a product that has impressed all of my friends and even my teachers. I'm a senior in high school and I have a little bit of savings, but not nearly enough to launch my entrepreneurial idea.

I can of course keep this idea in my back pocket for a few years, go off to college and see if I can secure a good job upon graduation from a good university that would then allow me to raise some funds to launch my idea in my spare time.

Or, as I'd like to move ahead sooner than that, should I ask my parents to invest in my idea? My parents are homeowners and are definitely comfortable, but they are not opulently wealthy. I've debated the pros and cons of involving my parents, and surprisingly, I've come up with concerns that gave me pause and also reasons to sidestep this path for various reasons.

But despite this, the positives do outweigh the negatives according to a list that I made and debated with myself over several days.

What do you think about this? Should I reveal my idea to my parents and solicit their help, especially their financial help at this time? — Budding Entrepreneur, via email

BUDDING ENTREPRENEUR: I would advise you to approach your parents for several reasons. First of all, they love you, are rooting for you and want to see you become successful in your life. So, even before exploring any financial involvement, share your idea with your parents and encourage their feedback.

From there, the discussion should gradually and eventually get around to what she will need in order to bring your idea to fruition, at least in an initial phase. If you plan to create a tangible, physical product, you'll likely need to build a prototype first. A prototype is a rough sample of the type of product you're trying to create. It may not be a finished product, or made of the precise materials that will ultimately be needed, but it should be a scale model that provides a rough appearance and a starting point for future versions as well.

Depending upon your product and its potential viability, your parents can either opt to help you themselves or seek out other parties who may wish to invest in your idea or provide juicy capital. And if for any reason they do not feel your product is viable, you should listen to their comments and concerns and test them yourself to be sure the entire idea is well thought-out.

I always root for young entrepreneurs who have a vision to create something new and useful in this world! Although I don't know you or what product you are attempting to create, I'm certainly wishing for you to be successful in this venture, or a future venture of your choosing at some other point in your life. Young people like you who have a desire to become an entrepreneur usually have several different ideas or opportunities to consider and potentially pursue over their lifetime. Stay creative, work hard, and I trust you'll find some interesting opportunities to pursue in your future, perhaps even this very first one.

IS MY DAMAGE ALREADY DONE?

DR. WALLACE: I'm young but I already feel like I've done some significant damage to my body due to many episodes of binge and even blackout drinking. I've had these experiences often for over three years and I'm finally reaching the point that I would like to get back in control of my body.

Is it too late for me to reverse some of the negative aspects of the damage I may have caused due to excessive drinking? — I Need to Quit, via email

I NEED TO QUIT: I'm familiar with this topic and have studied many excellent government reports and studies over the years about this very issue. Chronic or heavy alcohol consumption indeed disrupts normal organ functions and can cause structural damage in virtually every tissue of the body.

Most accepted terminology states that a person who drinks alcohol excessively has "alcohol use disorder." This disorder can harm the liver, since it is especially susceptible to alcohol-induced damage. In addition, other selected organs and systems can also be affected by continual heavy drinking including the gastrointestinal tract, pancreas, heart and even the body's bones.

In some cases, a recovery process after the cessation of alcohol consumption to the point of ongoing abstinence can occur. Depending on the organ and whether there is a relapse, functional recovery to some bodily systems is indeed possible in some cases. Even after years of heavy alcohol use, the liver has a remarkable regenerative capacity and, following alcohol removal, some individuals can recover a significant portion of its original mass and function.

Other organs also have the capacity for recovery after abstinence as well. Therefore, I congratulate you on making the realization that you're now building upon, and I encourage you to begin an abstinence program as soon as possible. You should consult with a family physician as a first step, or seek out a suitable medical professional that can examine and advise you accordingly.

Good luck with the hard but necessary road you wish to traverse that lies in front of you. I am rooting for you and wish you every success in taking a positive turn in your overall health situation. You may still have time for your body to achieve many important regenerative recoveries.

Dr. Robert Wallace welcomes questions from readers. Although he is unable to reply to all of them individually, he will answer as many as possible in this column. Email him at [email protected]. To find out more about Dr. Robert Wallace and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com.

Photo credit: AbsolutVision at Pixabay

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