The first official Father's Day was in 1972. Radio Flyer, the creator of the iconic red wagon and a family business that's been passed on from father to son twice in the last century, on the other hand, has been around since 1917.
Robert Pasin, the CEO of Radio Flyer who also happens to be a father of four, says his experiences have taught him important lessons about both family and business. Often, he argues, the skills you need to succeed in parenting are the same skills that will make you a successful entrepreneur.
Pasin learned this lesson from his grandfather, Antonio Pasin, who emigrated from Italy to the United States when he was 16-years-old in 1914. After living in America for just three years, he founded Radio Flyer.
Antonio ran the business for over 50 years before passing it down to his son Mario in the early 1970s. In 1997, Pasin followed in the footsteps of his father and his grandfather and became the company's third CEO.
Today, Pasin is focused on maintaining Radio Flyer's iconic legacy and expanding their product line into the 21st century. Under his leadership, Radio Flyer even built a Tesla Model S for kids.
This year, the company tells CNBC it surpassed $100 million in sales.
Here are the four things that Pasin says you need to keep in mind whether you are raising kids or running a successful company.