Father has a small business (4-5 employees). He’s retiring, so I’m going to lead it. It’s a trading business that I’ve never worked for and have yet to understand. I’ve had a career in tech so far and that’s all I’ve ever known.
Want to do a good job and reaching out here to get advice. Also looking to understand how I can win over existing employees. They are undoubtedly disappointed the manager’s son is taking over a business that they 've worked in for >10 years without promotion.
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Have you considered selling the business? Unless you belive you can grow it significantly, your future income might be better off you stay in technology.
Or have you considered the possibility of promoting one of the employees to be the general manager that could report to you?
Are you doing pricing arb, sourcing niche commercial items with a pre agreed buyer? My brother in law did this for ages for a family friend. They killed it with a few types of items they could source from random countries in bulk and sell reliably.
What sort of things and what’s make or break, is it more about sourcing or sales?
Here’s a good leadership test ~ explain to me how your business works and how it makes enough revenue to pay overheads!
You need to be at able to do that!