Family Business, Should you?

This week there was a lot of learning on buying a business. It was interesting to see how many different businesses there are out there for sale and what it entails to purchase one. I found it interesting how some of the costs are a lot more and the businesses are smaller and so on. It really was eye opening. We also learned about working with family and how do you make that the hard decisions that come with that. My father owned a boat business growing up and I began working there when I was 14 helping to clean the boats. As a child I didn't know if I had been doing things correctly and if there was anything that they needed me to do over. When I would ask for help and ask those questions to the other employees they would just say, "we can tell you that you are doing anything wrong you will go tell your dad." That really made me mad because I wanted to do the best job I could and if I was doing something wrong or it needed something else done I needed to be told so that I could learn while on the job. That experience taught me that I never wanted to work with family. While my father was a good boss who wasn't afraid of correcting what you were doing so that you learned to do it right, the other employees make it miserable. I didn't want to deal with that all my life. Another thing that I didn't like about having family work for family is every Sunday night when all the family was hanging out all my father, brother, sister and brother in law that worked at the business would do is talk about the business! We could never get a way from it and it was great that my dad was successful however, there comes a point when the topic of conversation should be on something other than on the business. I really liked what Erick said in the action hero video, He said it was really hard to do the business and even harder when he had to let his father go from the business. When you own a business you have to be prepared to make the really tough decisions so that you are able to keep the business going without all the stress. That is the best way to do keep it simple and running smoothly.

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