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?

  • ObiOneToo@alien.topBEnglish
    1·
    10 months ago

    1. Do not try to fix what is not broken. Take the time to understand WHY he has made some of the choices you do not agree with. There may be second and third order effects of which you are not aware.

    2. Do not undermine success in pursuit of change. Carefully and critically analyze changes before making any. Keep them small or incremental.

    3. Audit finances first. You need to know all the ins and outs of the finances.

    4. Spend time early maintaining the existing relationships. Suppliers, vendors, service providers, accountants, lawyers, customers, and municipal contacts are all relationships that matter to one degree or another. Spend real time on these to maintain them through and beyond the leadership change.