From Sean in Colorado
Hi coach. I’ve been working on my dad’s family business for about eight years. He keeps talking like some day he’ll give me the business but I’m not sure he’ll ever let go. Any ideas?
Answer:
The truth of the matter is me might not let go. You need to begin to deal with that reality. The ball’s in your court a bit to try to bring that conversation to a head. Think of it from his perspective. He doesn’t really have any motivation to let go. You, on the other hand, owe it to yourself, and your family (if you have one) to make the most of your career and earnings potential.
These things take time and are a process. You don’t need to take a hard line with Dad but you do need to gently and firmly move this discussion forward. You need to try to understand Dad’s thinking about his retirement timeline, and you also need to help dad see your perspective about mapping out your future. If done right dad should respect you as a businessman for trying to stake out your future.
If he has reservations about you, or ultimately transitioning the business to you, you’d be better off to bring that up now, rather than after you’ve spent 15 years in the business. Good luck, keep me posted.
