Have you ever been witness to a "next generation" of a family business pulling a power move on the "old man"? Watching now as the younger generation is putting a gun to the old mans head and he is cowering and attempting to appease. Retirement date just got moved up a few years for me.
Next Generation
- Thread starter Cammy
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lpcoutdoors
Active member
Yes, many times, so much so that many farm magazines have lots of articles and guidance on the subject. Sorry that's going on for you. More time for hunting and fishing sooner?! Take them with you just to prove to them they didn't get to ya! Hope all works out.
MO Betta
Well-known member
Yep, the reason I left my old position and started a business. 3rd gen, son & his husband live in NYC, decided (even though he has no idea how to run a business) that he was tired of just receiving big checks and wanted to fly in weekly to run the show. Other 2 kids want no part of the business, sucks because the company would have been in good hands with either of them.
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Woodrow F Call
Active member
I generally think doing business with family is a bad idea. It's just a recipe for hurt feelings.
VikingsGuy
Well-known member
Very common. The old law firm I used to work at had a whole group set up to deal with it - including family counselors.
Don't mean to sound like a cry baby however, I have spent the last 13 years digging this company out of a hole in the ground and making it a respectable place to work. I am the first and only non-family shareholder in the 45 year history of the company as a reward (if you want to call it that). I have only been involved in the financial side for the past 4 years. Next year the company will be 100% debt free based on the work that the controller and I have done. I am thinking that I would like to stay here long enough to see the hard work and planning pay off but realize that might not be in the cards. It would be my choice to leave as I wouldn't give them the chance to make the decision for me. At 55 and a retired military guy I am more prepared than most to step away financially. I guess I need to vent more than anything as I know if things keep going the way they are there will be another hole in the ground here and everyone that is still here will wonder what happened.
elkduds
Well-known member
Like you, I'd initially deny that this could happen. When it became real, I'd be pissed. Like you, I'd look for some kind of a deal that would work. Then I'd get depressed for a time, before I came to accept the inevitability of the change. Yes, those are the stages of coping with loss. Venting is good medicine. The successes you have accumulated are not diminished by the inability of those around you to value and appreciate your contributions.
2rocky
Well-known member
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- Jul 23, 2010
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I've witnessed more of the older generation holding the purse strings as their only method of control.
A well conceived succession plan is a rare thing in Agriculture. And Like you when ownership gets a little top heavy, they don't appreciate the employees that are holding it together.
A well conceived succession plan is a rare thing in Agriculture. And Like you when ownership gets a little top heavy, they don't appreciate the employees that are holding it together.
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