I’m taking over the family business. I’ll be a third generation owner. I will purchase it through contract for deed.
My father told me the number one thing he wanted to do was run the business better than my grandfather. I feel the same way, and sometimes I’m not quite sure how to vent my frustrations to my father on what he could do better.
He’s a terrific businessman who had brought our family comfort. Sometimes I think he has some blind spots.
How do I approach these things without being insulting?
It’s not easy, my wife and I have been trying to transition for 6 years from her parents. They fight us on everything, no one likes our accountant but for some reason they won’t sign the paperwork to switch.
Our biggest mistake was not having a plan laid out and signed with lawyers before taking on our roles, that still hasn’t been sorted out and major issue for us.