A fellow blogger just posted a thought-provoking article, “What to do if the Family Business isn’t for you.” Below are some of the key takeaways if you have been debating about continuing the family business.
Kyle Danner writes, “Here’s a scary thought: What if the family business isn’t for you?” What if you’ve decided to change the path that you once believed was right? Perhaps you’re feeling that even thinking about choosing this different direction might be an act of betrayal or disloyalty. What do you do?
Start by asking yourself what prompted you to be involved with the family business in the first place. Was it due to passion or convenience? Next, ask yourself what’s changed? Are you no longer passionate in working with your family or don’t you see a viable career path? Perhaps you feel your skills and time are not being utilized in this position. People, goals, and circumstances change so it’s important to be honest with yourself and your family. Finally, if you choose to exit the company, develop a written exit plan. This will reassure everyone that you took the time to think through all the details and may alleviate that feeling of betrayal.
“Remember, you may be leaving the business, but you’re not leaving your family.”
Please find Kyle Danner’s blog here: https://www.kyledanner.com/blog/what-to-do-if-the-family-business-isnt-for-you
FPA Owner Transitions 