I left an amazing job at a high tech company to start my own company. We had a successful exit five years later, but I've always said that if the company went belly up after 2 or 3 years it would have been WELL worth it. I don't associate being a successful entrepreneur or having success with a big exit. The point is to learn and try new things.
Of course I'd help my kid get the company off the ground in whatever capacity they'd like. I help a half dozen companies now in an advisory role and I'd do the same for them.