The first rule of parenting: Everyone thinks their child is a superstar.
But if that actually is true, and you do have a unique talent living under your roof, then watch out. You have to start thinking about how to develop that talent, how to support their career - and how to pay for it all.
Now there is a book to get you through the process. New York City-based entertainment lawyer Steven Beer just released "Your Child's Career in Music and Entertainment," about how to navigate the choppy waters of child superstardom.
After 20 years in the business and helping to launch the careers of Britney Spears, Lady Gaga and Taylor Swift, Beer took up the task when his own son, Max, was cast in a touring production of Neil Simon's play "Lost in Yonkers".
Reuters sat down with him to discuss what to do - and what not to do - when your kid is about to take over the world.
Q: Everyone thinks their kid is talented. How do you know if they are really something special?
A: Talent is not enough. There has to be an 'It Factor,' that breaks through in a competitive market. And they have to be a self-starter, to be prepared and responsible enough to rehearse without parents having to badger them. Those are the things you are looking for.
Q: If a child starts getting offers, what should parents look out for?
A: Parents are typically so flattered that they don't think clearly. So they should sit down with a good attorney to explain and negotiate it. For an artist just starting out, a manager might ask for 20 percent. But 15 percent is a good middle ground, and 10 percent is what we strive for. And you always want a shorter term.
Q: What costs can parents expect in developing their child's career?