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?
Times change and business operations need to change to continue being relevant. This seems to be a problem with every shift in generation; being able to let go. Put it on paper, and make sure he knows he’s in his father’s shoes now. Time to pass the ball for the same reasons he took over years ago.