Related Posts
What are your long term salary goals?
More Posts
$MSFT is killing it lately 🙄
Working on my cat photography
BE WARY OF FAKE SPRING, NEW CHICAGOANS
Additional Posts in Consulting
Any 🐠 at #HRTechConf?
Joining Deloitte or PWC as Manager. Pros / Cons?
McKinsey & Company McKinsey & Company been working here one year and received pretty positive feedback. Given the expectation for people of my tenure to transition to EM in a year or so, I can’t see myself staying due to the WLB as an EM. I’m 35 and have 2 young kids. Can it even be realistically done? Would love to stay but I don’t see a balance which would keep my family happy. What options do I have from there?
New to Fishbowl?
unlock all discussions on Fishbowl.
Rising Star
Well having a business handed to you can become pretty lucrative if you got the chips to run it
Take it over then sell it from underneath them…that’s the American way!!!
You learn more about being an entrepreneur when you handle your entity end to end and scale it than you ever will being a consultant. And if you play the right chips you will gain more than 800k or so a career consultant will make. Also you get to save on taxes. Plus if you learn to delegate and operate, you will live life by your means. Dont get cocky because of the 100k,respect the fact that you’ll have a legacy being handed down. That’s more than many people ever get.
Chief
Are they looking to adopt?
31/m/fine with hand outs
Chief
So they want you to take over the family business but you have to do it all yourself? I don’t understand
Chief
That seems weird
OP - I’m in a similar situation, but confused why you don’t see this as a privileged opportunity. You have a chance to further their legacy, create a legacy of your own by potentially growing the business way bigger than they could, and setup multi generational wealth for your kids. It sounds like you have a contentious relationship with at least some of your family. I can relate to that, but I don’t think their intentions are selfish. They probably just want what’s best for you.
Instead of a loan, lookup how earn out transactions work. You could put a smaller amount of cash down to purchase equity that way.
Punctuation is our friend.
What’s the family business? Asking for a friend’s friend
Have you seen the financials of the business?
Also consider that some of the pressure may come from their need to sell to fund retirement coupled with an inability to sell on the open market for whatever reason (not profitable, not desirable, profitability dependent on tax avoidance) leaving them dependent on a child to bail them out.
So, you're going to turn down an offer to run a multi-million dollar franchise business out of spite?
Smart.
Pro
Is your fam’s business in the market for high-impact consultative services? Best of both worlds!
Soml