I've made the decision to join the family business after years of mulling it over. I'm two weeks away. has anyone navigated these waters before? what are some of your take aways (good and bad)?
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can you give more details on what the fam biz is and what your role will be? what are your opportunity costs (ie what are giving up to do this?)
the biz specializes in international shipping (import/export, mainly export)/financing projects/logistics. its a small company (8 employees - all of which are unmotivated and lucky to have jobs). my role would be to learn the day to day operations, gain transactional experience working big projects (where most of the revenue/profits are generated), be a manager and in 2 years run the company. i currently work for a small BD with lots of young smart professionals. the co. has lots of potential and could grow to be a player in the PB space but im not getting much fulfillment out of it and the potential upside greatly outweighs staying or growing with my current job.
Upsides- can't be fired, easy (non-existent) interview process, perfect filler for gaps on the resume. Downsides- ppl dont want them as references for future apps, loss of work/ family separation.
Pretty much, in the perfect world I'd say never do business with family or friends. The issue is you want to keep family businesses with the family obviously, so at some point you need to break this. All I know is I'm greatful as shit for it, because explaining working at Starbucks for 1+ year while looking for a job would suck, lol.
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