What does it take to raise successful entrepreneurs? Margot Bisnow may just have the answer. She's raised two children who have found success pursuing their passions of making the world a better place. One through music and the other by creating a community of conscious minded change makers.

Austin Bisnow, 29, co-created the inspiring and uplifting contemporary folk band Magic Giant. You can't help walking out of a show sweating from dancing your heart out to lyrics that make you remember what it is like to be a better to be human. This gifted writer reminds you how fragile your heart is, or how to listen to your own voice as it turns from a whisper to a shout.

Elliot Bisnow, 30, co-founded Summit Series, which brings together thousands of conscious minded change makers who collaborate in making a better world. You may listen to Eric Schmidt, CEO of Google on a chartered cruise ship in the Caribbean. Or you could catch Bert Jacobs, co-founder of Life is Good, with the backdrop of the sun setting over the mountains of Utah - where an actual ski town is being built as the base for this producer paradise.

You'll find insight and other 'universal rules' from these inspiring entrepreneurs and their mothers, in Margot Bisnow's book Raising an Entrepreneur. (Dads, don't take offense. You are important too.).

Here are a few of her insights for encouraging and raising successful entrepreneurs:

1. Support a Passion - It doesn't matter whether the passion is something you understand or if it will lead to a career. Bisnow shares that it is important give your children the freedom "to dive deeply into a pursuit, discovering all it has to offer, and making connections with others who are also passionate about it. Kids learn that good things happen when they do the things they love."

2. Let Your Child Learn to Win and Lose - It is important for children to understand that losing is something that happens and has nothing to do with who they are. This builds confidence - a key to success (see Rule Five). Additionally, by learning how stand up again after losing will strengthen a child's character and transfer into success with their passion.

3. Don't Worry About Straight A's - Many schools do not encourage the mindsets and habits that help with an entrepreneur's success such as questioning rules and challenging authority. Look at why your child is not conforming and maybe even consider a new path that will celebrate their strengths instead of stifle them.

4. Mentors Can Be Great - "A mentor, unlike a parent, isn't responsible for keeping a child safe" shares Bisnow. This gives the mentor a freedom to encourage your child to think outside of the box and take more risks aligned with the child's passion.

5. Instill Confidence - It is critical to give your child the confidence to believe that anything can happen. Without that confidence they will be stuck in the ordinary and routine: for an entrepreneur, ordinary and routine is like taking the wind out of their sails.

Not only do these rules apply to children destined to be entrepreneurs. They apply to all children when you want to support them to be the best person they can be. Where might you be able to apply these rules in your child's life?

Where might you be able to apply Bisnow's rules to your life? Not only do these rules apply to children. They apply to you too. Where can you embrace adversity and reframe it as a blessing? Could you lead by following a bit more in your business? Is there anywhere you might be able to believe in yourself just a little more?

Are you willing to be that person yourself and that parent to your children? I encourage you to take just one small step today and embrace your inner entrepreneur!

Published on: Sep 6, 2016