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  #11  
Old 06-19-2007, 12:36 PM
DrewDevil DrewDevil is offline
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Default Re: So my family owns a concrete company...

One issue that you should also consider is the emotional component of you deciding to leave the company in a few years. Would it cause heartburn among your family if you decided to sell the family business (or step down as the man in charge)?

Certainly, it would be a great opportunity for you now, and you could easily walk away down the road, but you should consider more than just the financial impact. Family businesses can be a little delicate.
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  #12  
Old 06-19-2007, 12:56 PM
RobertHunter RobertHunter is offline
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Default Re: So my family owns a concrete company...

I would definately give it a try. Here are some random thoughts: I would think that having your uncle mentor you would be a perfect way to learn the business. Typically, nobody is going to look out for you like family. Who says you have to just do this? After a few years in the field if you find it is not stimulating you enough go start another business. George Maloof doesn't own just 1 business. I personally would also have to put some intangible value on being given the opportunity to run and grow the business that has been in my family for 10 decades. I am sure that after you have been in the business for a few years, have gotten some great employees and systems in place, that you will not have to "be there" every day. When I first started my business I typically worked 6-7 days a week probably 60 hours a week. Eleven years later I work half that much and make 6X what I did when I started. Good luck with your decision.
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  #13  
Old 06-19-2007, 01:12 PM
mindflayer mindflayer is offline
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Default Re: So my family owns a concrete company...

If you are serious, try your absolute best to get a job in another town working for a competing concrete company for at least a year or two. (ANY operations/office position) It will help you get a feel if this is something you would like to do in the future.
It will be a HUGE + to have an outside view of how things work once your uncle tells you how it is done in HIS company.
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  #14  
Old 06-19-2007, 02:02 PM
Statutory Statutory is offline
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Default Re: So my family owns a concrete company...

Your family not discussing the finances of the business with you is absolutely not acceptable IMO.

They expect you to make a huge life decision with incomplete information? I would really press the issue.
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