Did you take over your family business?

[stan358]

Family business has proven to be sustainable over the years. Most families are committed to the success of the family because no one wants the business to go down during their reign...

 

[Good-Person]

If I have a business which is doing well, I will put everyone who's my immediate family members into the same business line if they want to learn the business. Companies do this and it's good strategy. I'm building my business and I will do the same thing with it.

I think that it is a great idea to support your family members and relatives as well. There are many people who have many relatives and they may be seeking help. You can also offer them work as well in your business and this is the advantage of running a family business.

 

[stan358]

There are so many family business across the world and many of them are still standing. Some of them include BMW Group, Samsung group. The Walmart is one of the largest family business in USA as of today..

 

[Ja Sa Bong]

I think that it is a great idea to support your family members and relatives as well. There are many people who have many relatives and they may be seeking help. You can also offer them work as well in your business and this is the advantage of running a family business.

If I'm including any of my family members in my business, they will all be paid for any work they do. I would want them to motivated in working and not feel they are being used for free without pay. If anyone of them are in the business for the long run, they are the kind of person who gets the opportunity to gain from the business in ages to come.

 

[stan358]

I did not inherit any business from my family and we do not any pronounced business. Though family business does exist and one thing I have such type of business is that there could be so much hatred and envy associated with such business..

 

[Good-Person]

If I'm including any of my family members in my business, they will all be paid for any work they do. I would want them to motivated in working and not feel they are being used for free without pay. If anyone of them are in the business for the long run, they are the kind of person who gets the opportunity to gain from the business in ages to come.

I think that we should help our relatives. However, the fact remains that not all the relatives are trustworthy. We may encounter annoying relatives who may never be honest and they may also betray us. it is quite hard to trust people nowadays, even if they are our relatives.

 

[Ja Sa Bong]

I think that we should help our relatives. However, the fact remains that not all the relatives are trustworthy. We may encounter annoying relatives who may never be honest and they may also betray us. it is quite hard to trust people nowadays, even if they are our relatives.

A relative working for you will either be good or bad. If you're lucky to have a relative who is good, the work the relative is going to be doing in your business will prove he's interested in seeing your business succeed. The opposite is going to be the result if your relative is the bad type.

 

[Henrywrites]

A relative working for you will either be good or bad. If you're lucky to have a relative who is good, the work the relative is going to be doing in your business will prove he's interested in seeing your business succeed. The opposite is going to be the result if your relative is the bad type.

This is true. There are good people and there are bad people irrespective of whether they are your relatives or not. There are outsiders that will even do more to see your company grow than those that you call your relatives and this is what business owners should consider as well.

 

[Heatman]

This is true. There are good people and there are bad people irrespective of whether they are your relatives or not. There are outsiders that will even do more to see your company grow than those that you call your relatives and this is what business owners should consider as well.

Yeah, that's very correct. I have had some outsiders worked for me and they did very well for my business. Some of them took managing my business like their own. I always appreciated them for their good work because I know that it's not easy.

 

[Henrywrites]

Yeah, that's very correct. I have had some outsiders worked for me and they did very well for my business. Some of them took managing my business like their own. I always appreciated them for their good work because I know that it's not easy.

Family bias should not be allowed in any business because there are some family members that are going to see your business run down and believe that you are not going to do anything about it. So, loyalty is something that should be considered first in most business situations, if you ask me.

 

[Heatman]

Family bias should not be allowed in any business because there are some family members that are going to see your business run down and believe that you are not going to do anything about it. So, loyalty is something that should be considered first in most business situations, if you ask me.

There are some businesses which are run into the ground by family members. Personally, it's not something that I would allow in my business. If I see single red flag that you're messing up my business, it doesn't matter if we are from the same parents, I'm going to excommunicate the person immediately.

 

[Ja Sa Bong]

This is true. There are good people and there are bad people irrespective of whether they are your relatives or not. There are outsiders that will even do more to see your company grow than those that you call your relatives and this is what business owners should consider as well.

Yes, we see both good and bad people in any where in business management. It makes someone weak when your own relations is the one treating your business like they have evil intention towards it. All their actions looks certain to bring your business down.

 

[Heatman]

There are so many family business across the world and many of them are still standing. Some of them include BMW Group, Samsung group. The Walmart is one of the largest family business in USA as of today..

You're very correct about Walmart being one of biggest family business in the United States of America. It's in fact the biggest or largest private employer in the world with 2.2 million employer. It's a publicly traded family business that's owned and controlled by the Walton family.

 

[stan358]

You're very correct about Walmart being one of biggest family business in the United States of America. It's in fact the biggest or largest private employer in the world with 2.2 million employer. It's a publicly traded family business that's owned and controlled by the Walton family.

That's goes to show that family business is well managed but prudent managers could stand tall for a very long time. And could be passed from generations to another generations as in Walmart..

 

[Heatman]

That's goes to show that family business is well managed but prudent managers could stand tall for a very long time. And could be passed from generations to another generations as in Walmart..

Yeah, that's very correct. I actually hope that my own family business of Auto Spare Parts company gets to grow and become a large company. It doesn't have to reach like Walmart but you get what I'm talking about. My brother is already heading the business and hopefully it's going to be passed down our kids from generation to generation.

 

[Good-Person]

You're very correct about Walmart being one of biggest family business in the United States of America. It's in fact the biggest or largest private employer in the world with 2.2 million employer. It's a publicly traded family business that's owned and controlled by the Walton family.

Walmart is not only popular in america, but it is also quite popular in many other parts of the world as well. I think that Walmart is owned by the Walton family and the family is one of the richest families in the world,as the store generates millions of dollars of profits.

 

[Heatman]

Walmart is not only popular in america, but it is also quite popular in many other parts of the world as well. I think that Walmart is owned by the Walton family and the family is one of the richest families in the world,as the store generates millions of dollars of profits.

I believe that I have already mentioned that they are biggest or largest private employer in the world with 2.2 million employer. There's no part of the world where Walmart isn't recognised. If there are, it's going to be just few.

 

[stan358]

Yeah, that's very correct. I actually hope that my own family business of Auto Spare Parts company gets to grow and become a large company. It doesn't have to reach like Walmart but you get what I'm talking about. My brother is already heading the business and hopefully it's going to be passed down our kids from generation to generation.

If the children could learn the vibrant business model set by their parents and concentrate on how to make them stronger and better. It could mean well for their own children and other generation to come..

 

[ganibade]

Some business are family run. And when you're run by a family, the next in line is usually the eldest child or next family member in line. I think it'd be great running a family business, because I think it'd be great to work with family to some extent. Would you like to take over your families business?

For some people, taking over a family business can be a wise move, but it relies on a variety of criteria. Here are some things to think about:

Interest and Passion: Do you genuinely care about the business or industry? Success can be fueled by zeal.

Determine whether you have the abilities and expertise required to run the firm successfully.

Financial viability: Assess the company's financial standing and development possibilities.

 

[Good-Person]

For some people, taking over a family business can be a wise move, but it relies on a variety of criteria. Here are some things to think about:

Interest and Passion: Do you genuinely care about the business or industry? Success can be fueled by zeal.

Determine whether you have the abilities and expertise required to run the firm successfully.

Financial viability: Assess the company's financial standing and development possibilities.

There are many people who may have no other option. They are actually born in rich households and from an early age they are trained by their elders. They already know that they have to manage the business and i have seen dozens of people managing their family business because they have no other option to do so.