Taking over the family business

[Revalos]

So, lets say that your father runs a business of some kind, one that you've known about for years but only shown a bare minimum of interest in even though he's tried every trick to get you to want to be involved in it since you were a kid. Out of nowhere, years later, he wants you to either agree to take it over (with all the requisite training and time obligations starting from now on) or that you want no part in it and he'll sell it and you'll just get a check when he dies.

I wouldn't have to quit my day job to do this, but I would have to throw in a good chunk of my savings and travel around the US several times a year for a weekend or two and maybe spring for a couple international trips just to keep the network of customers operating, plus some significant training. It will take quite a bit of time for me to get competent at it, knowing I will never ever be as good at it as he is now. Right now I have nothing better to do with my free time, so I'm kind of growing more attached to going for it, but I'm not sure how long that will last. My dad wanted to be in this line of work ever since he was a kid and knows everything about it and loves to do it, but I'm just not like that.

Would I be doing a disservice to his reputation/legacy by taking over and sucking at something I'm only now becoming remotely interested in? There are at least 20 people that would be happy to carve up his operation right now to improve their own standing among their peers, and honestly they are much more shrewd with their parallel operations (focusing on big ticket customers, not really catering to the mid tier like my dad is). I know most of these characters, some of which are pretty shady, others that are genuine nice guys but everyone is aware how much is going on below the radar of international law. My dad has done his best to show me which ones to avoid and which ones to work with, but they aren't going to be at it much longer since they are all getting old too and only a few younger folks are at all interested in the hassle. It'll probably be the wild west by the time I fully take the reins.

Is this a good idea or should I just avoid it altogether and take the check?

No, I'm not telling you what it is, mostly for my protection but probably for yours as well. Lets just say that the people that are good at it make hundreds of thousands of dollars a year on top of whatever other job they do. Competent people will at least make a couple thousand a year but could also lose that much if they screw up.

[NocturnalRob]

Take the check, live your life the way you want, and (hopefully) be happy.

[Bobmuhthol]

Didn't you watch Inception? Your father is not disappointed that you could never be the same businessman he was; he's disappointed that you tried.

[Delias]

Well, I assume he is making you some sort of offer you can't refuse. Make sure you don't disrespect him.

[NocturnalRob]

No, I'm not telling you what it is, mostly for my protection but probably for yours as well. Lets just say that the people that are good at it make hundreds of thousands of dollars a year on top of whatever other job they do. Competent people will at least make a couple thousand a year but could also lose that much if they screw up.
Also, for my protection? Is your father in the import/export business?

And to make an extra couple thousand a year (assuming you are at least competent) really doesn't even seem to be worth it to me given that you have to make that kind of sacrifice for what amounts to a $150/month.

[Revalos]

Also, for my protection? Is your father in the import/export business?

Basically. Mostly import though.


And to make an extra couple thousand a year (assuming you are at least competent) really doesn't even seem to be worth it to me given that you have to make that kind of sacrifice for what amounts to a $150/month.

See, I would have agreed with you a year or two ago, but now I'm kind of getting into it. I kind of feel like I have an obligation now to do it since I am actually interested. Its his life's work, and I figure I owe him that much for putting up with my bullshit all these years. And maybe I will get good at it and be one of the bigwigs.

I'm much more concerned with me operating the business while he's still alive and aware of how I'm doing. If it is too much of a hassle after he passes on, I'll probably sell out and scale back to whatever I can handle.

[NocturnalRob]

It will take quite a bit of time for me to get competent at it, knowing I will never ever be as good at it as he is now.

Competent people will at least make a couple thousand a year but could also lose that much if they screw up.
Yeah...how much is "quite a bit of time?" Seems like you should be doing something else.

[Revalos]

Yeah...how much is "quite a bit of time?" Seems like you should be doing something else.

I am doing something else, I have a real job. This won't take anything away from that. It is mostly on my own time that I'd be doing this stuff anyway. I'd say it'd take me a year of study and experience to at least not completely screw things up. Probably 5 more after that to migrate the customer network from him to me, and then limited upkeep after that, mostly via travel.

[Stanley Burrell]

I am doing something else, I have a real job. This won't take anything away from that. It is mostly on my own time that I'd be doing this stuff anyway. I'd say it'd take me a year of study and experience to at least not completely screw things up. Probably 5 more after that to migrate the customer network from him to me, and then limited upkeep after that, mostly via travel.

.

[NocturnalRob]

So 6 years to get up to speed fully? What's the upside? What are the opportunity costs? How would it impact your career trajectory at your current job? Do you care? Would this eventually become a full-time thing?

[Revalos]

So 6 years to get up to speed fully? What's the upside? What are the opportunity costs? How would it impact your career trajectory at your current job? Do you care? Would this eventually become a full-time thing?

The upside is fame and glory forever....within this particular line of work. Most of the current bigwigs are self-made millionaires several times over, mostly through skill at knowing where to look, but a lot is just tenacity and luck. I used to think that all the upside was gone since there are a good group of people at the top that have cornered the supply side in many cases, just to due to their market dominance. But every once and a while someone comes along and upsets the balance just by determination and going after untapped markets. My dad is almost in that range now, and I can ride his coat tails into that level of the operation and go from there, either falling into obscurity by either screwing up or just not advancing, or getting into the Parthenon.

Opportunity costs are high. My dad spent several thousand dollars this weekend on some things he just couldn't pass up, and I'd have to be at least prepared to do the same. Many times it really is a once in a lifetime opportunity, other times you have a chance to get in on the ground floor, and sometimes you get screwed. You have to risk big to win big for sure.

It could go either way with relationship to my current job. I don't currently see it completely supplanting it, but it could actually improve it. Many of the tasks of building and maintaining a customer network could really help me out in the long run, both from a purely educational perspective as well as possibly having some of the people be useful to my real job too. Just like my dad, this is pretty much a full time thing to him now that he's retired, so I'd expect to go that route too, unless I totally fuck it up before then.

[Drakefang]

Also, for my protection? Is your father in the import/export business?


Damn, I was so going to ask this. Quick catch.

[TheEschaton]

He sounds like a drug dealer.

[BriarFox]

Congratulations. You are now officially as sketchy as hell.

[Drakefang]

Let me ask you two questions.

One, can you claim this income on your taxes? If not, seriously, take the check.

Two, it sounds like you're importing stolen goods, high end weaponry, drugs or Chinamen....possibly young eastern European women. Have you seen Taken? Again, take the check later on.

Sorry, this sounds so so sketchy that I cannot sit here and honestly advise you to do it. If the FBI/ATF comes around these boards, you could be screwed later on.

[WRoss]

I feel like he's made the decision but he's coming here in hopes we'll validate that decision. This only leads me to believe that what he would be doing makes him feel guilty. So really, his subconcious is hoping that we'll all say, "GET THE FUCK OUT YOU FUCKING FUCK!"

So, Revalos. Take the check.

[Warriorbird]

I've done it twice. I've been relatively happy with the altered goals and changes to my path. Rojo has another totally different set of circumstances that you should probably listen to too.

[Androidpk]

Shady business sounds shady. Take the check.

[Revalos]

Let me ask you two questions.

One, can you claim this income on your taxes? If not, seriously, take the check.

Two, it sounds like you're importing stolen goods, high end weaponry, drugs or Chinamen....possibly young eastern European women. Have you seen Taken? Again, take the check later on.

Sorry, this sounds so so sketchy that I cannot sit here and honestly advise you to do it. If the FBI/ATF comes around these boards, you could be screwed later on.

It would be very complicated to claim the income from this on my taxes regularly, but yes, it can be done and many of the high end guys have to do it all the time because of the money they are making. The way my dad does it he keeps the assets illiquid (trading in the items themselves) so the "profits" are all really on paper until he feels like he needs to cash out.

This isn't anything illegal. Shady, yes, illegal, no.

[Drakefang]

Ebay store run out of Hong Kong?

[DCSL]

I'm doing it right now. I had an alright job where at least I was happy for the moment, if not raking in the dough. I had friends, a life. My mother asked me if I wanted in on one of her businesses. It's not anything I love but it's interesting enough. And it was a unique opportunity both in possible future monetary benefits should we succeed and in being able to learn directly from an already successful business owner of the same type.

It has required me moving twice in the last eight months and being completely miserable as seen in my minor breakdown on the PC a few months ago. I'm still not happy. It has not been worth it thus far. If I'd known then what I know now, I would have told her no. But I'm going to stick it out until I die of sheer misery because I said I would and I have a hard time admitting to being in over my head (other than to anonymous internet strangers).

It could go better for you but... take the check if your heart's not in it.

[Drakefang]

Okay seriously, wtf are you guys doing.

[Warriorbird]

It does sound like gun shows or burlesque promoting.

With that said, I actually have to put up with the ABC/ATF a fair amount merely dealing with wine and festivals.

The stock market/carbon offset side of things is arguably more shady but has a lot less law enforcement hassle.

If you're not hurting anybody in the process and it isn't going to damage your other (important) career, go for it.

[Revalos]

It could go better for you but... take the check if your heart's not in it.

My heart isn't completely in it now, however it is a heck of a lot more interesting now that I didn't get that job I had an interview for last month that I posted about here. My concern is: what if I regret not getting into this when it is too late? Compound the fact that, as many here have accurately surmised, I've pretty much told him that I'm going to do it out of a sense of family loyalty.

I've got kind of a life now, but this would make things so much more interesting, and I think I like the idea of the adventure. Ever since my epic meltdown divorce, I've been looking for something positive that I can focus on and maybe this is it.

[Warriorbird]

My heart isn't completely in it now, however it is a heck of a lot more interesting now that I didn't get that job I had an interview for last month that I posted about here. My concern is: what if I regret not getting into this when it is too late? Compound the fact that, as many here have accurately surmised, I've pretty much told him that I'm going to do it out of a sense of family loyalty.

I've got kind of a life now, but this would make things so much more interesting, and I think I like the idea of the adventure. Ever since my epic meltdown divorce, I've been looking for something positive that I can focus on and maybe this is it.

Makes sense. It's why I'm doing my other job post meltdown divorce myself.

[Delias]

My heart isn't completely in it now, however it is a heck of a lot more interesting now that I didn't get that job I had an interview for last month that I posted about here. My concern is: what if I regret not getting into this when it is too late? Compound the fact that, as many here have accurately surmised, I've pretty much told him that I'm going to do it out of a sense of family loyalty.

I've got kind of a life now, but this would make things so much more interesting, and I think I like the idea of the adventure. Ever since my epic meltdown divorce, I've been looking for something positive that I can focus on and maybe this is it.

Think of all the business trips you can take to places where prostitution is legal. Then you hire a hooker who looks a lot like your ex and really make her pay.

Plus, please tell your dad I am concerned his war in mexico is getting out of hand.

[AnticorRifling]

If you have to ask the internet then you shouldn't be moving forward on it.

[Parkbandit]

If it's illegal, don't.

If it's legal, why wouldn't you? You say you have a life now, but you have been looking for something more adventurous and something to focus on? Doesn't sound like much of a life.

[IorakeWarhammer]

Hire IorakeWarhammer to run the business.

[Androidpk]

Shady but legal. Right. If it's legal then just tell us wtf it is and quit being a shady bitch.

[Latrinsorm]

He sounds like a drug dealer.Ding!
This isn't anything illegal. Shady, yes, illegal, no.I don't know, man, the more you need to repeat that it isn't illegal the more it seems like it is or will become so very soon.

[Suppa Hobbit Mage]

Medical marijuana!
Canadian pharmaceuticals!
Internet Marketing Spam!
Facebook "games"!
Payday check cashing fronts!

[Stry]

Reading this thread... I can't stop smiling... or giggling.

"Sooooo, theoretically... if my papa was a Bolivian drug lord... and wants me to travel there on weekends to learn to take over....but he knows how to work an AK-47 bettern me.... and how to tell the purity of the cocaine just with a single sniff... and..... and...overall it'll take me 6 years to be up to his level and to work his contacts...and even if I don't get shot... I still have to put down a few thousand on stock to cover it while trasporting it across the border in several illegal's colons... I... just dunno people of the PC... Wut wut wut shuld I doo??"


That's what I heard.

[Liagala]

So, lets say that your father runs a business of some kind, one that you've known about for years but only shown a bare minimum of interest in even though he's tried every trick to get you to want to be involved in it since you were a kid. Out of nowhere, years later, he wants you to either agree to take it over (with all the requisite training and time obligations starting from now on) or that you want no part in it and he'll sell it and you'll just get a check when he dies
http://free-tvshows.com/arrest.jpg

Also, what everyone else said. If you meet the girl of your dreams, and she's one of those innocent-couldn't-hurt-a-fly, never-does-anything-illegal types, would you be able to answer "What do you do for a living" without hesitation? How about a possible future employer, at a more stable, ordinary job? If the answer to either is no, don't do it.

[NocturnalRob]

I'd just say, "I'm not telling you what it is, mostly for my protection but probably for yours as well."

[Soulpieced]

Sounds like a pawn shop.

[NocturnalRob]

Sounds like a pawn shop.
I don't need protection from a pawn shop.

[Archigeek]

There's also the grey market: Items exported by their manufacturers for sale in other countries, getting re-imported. It's shady, but not illegal, and a fair number of companies do it. That said, I don't think you need protection from anyone in that either...

[Drakefang]

Whatever the fuck it is, three of those who post here claim to do "it." Whatever "it" is. None of them have revealed what the fuck it is. How they know each other do it is beyond me. At least from DCSL's (or was it Nachos') and Warriorbird's weird responses they acted like they understood and wouldn't say.

All of them went through bitter sounding divorces.

Whatever it is, if they won't say, it's beyond shady.

If I misposted names, sorry, I'm too lazy to go back 20 posts to double check.

[DCSL]

Whatever the fuck it is, three of those who post here claim to do "it." Whatever "it" is. None of them have revealed what the fuck it is. How they know each other do it is beyond me. At least from DCSL's (or was it Nachos') and Warriorbird's weird responses they acted like they understood and wouldn't say.

All of them went through bitter sounding divorces.

Whatever it is, if they won't say, it's beyond shady.

If I misposted names, sorry, I'm too lazy to go back 20 posts to double check.

Heh! It's not that I'm in the same business with him, it's that I'm working with my parent and had to give up a lot, put in a healthy investment of time, money, energy, et cetera. I think that's what WB meant as well.

[Drakefang]

Ahh, that sort of makes sense then. Obviously, I was tired late last night and completely misunderstood.

[Warriorbird]

Heh! It's not that I'm in the same business with him, it's that I'm working with my parent and had to give up a lot, put in a healthy investment of time, money, energy, et cetera. I think that's what WB meant as well.

This. Though both alcohol sales and carbon offsets have some shady aspects.

It'd be cool if we were part of some secret society though. It'd be an awesome one.

[Jace Solo]

You are...it's called Gemstone IV

[Revalos]

Wow, lots of hate PMs to read today.

I'm not saying what it is because doing so would pretty much immediately identify my father (and therefore me) to anyone who reads the newspaper or watches TV (no he's not the reincarnation of Billy Mays), like I said, the reason is mostly for my protection, but if the rest of you knew you could theoretically be called as a witness in a trial (dealing mostly with intellectual property, not smuggling hot redheaded European women into the US...although that does give me an idea...). I really wish it was a secret society though.

To be honest, I really like asking completely silly and ridiculous questions on the PC because I feel like I get a more accurate representation of opinions for decisionmaking. You guys are awesome like that.

[Androidpk]

like I said, the reason is mostly for my protection, but if the rest of you knew you could theoretically be called as a witness in a trial

....

[Warriorbird]

Sounds like the grey market guess was pretty right on.

[DCSL]

Wow, lots of hate PMs to read today.

I'm not saying what it is because doing so would pretty much immediately identify my father (and therefore me) to anyone who reads the newspaper or watches TV (no he's not the reincarnation of Billy Mays), like I said, the reason is mostly for my protection, but if the rest of you knew you could theoretically be called as a witness in a trial (dealing mostly with intellectual property, not smuggling hot redheaded European women into the US...although that does give me an idea...). I really wish it was a secret society though.

To be honest, I really like asking completely silly and ridiculous questions on the PC because I feel like I get a more accurate representation of opinions for decisionmaking. You guys are awesome like that.

Our curiosity. It burns, precious, it burns.

[phantasm]

I have carefully scoured google with selected keywords and locations pertaining to your father and his profitable business. I'm certain 1 of these 3 is your daddy. I'll leave it up to you to confirm or deny it. the PC can also guess which it might be.
(1)
http://www.ftp-sgpartners.net/tdceu/uploads/uploaded/ELDORADO_Igor_Yakovlev.jpg
(2)
http://4.bp.blogspot.com/_Iwj7VoMGkmY/RdndZDZErKI/AAAAAAAAARI/Dr2GwgwrVcI/s400/IMG_3601.jpg
(3)
http://rogueimc.org/images/2008/01/9882.jpg

Also, if you say none of them are right, I, along with everyone else, will know you are lying, one of these IS your patriarch.

[Androidpk]

Revalos' dad sells medical equipment to Thai ladyboy manufacturers.

[Latrinsorm]

but if the rest of you knew you could theoretically be called as a witness in a trialSounds totally legit bro, you should jump on it.

[Back]

I am in on the family business.

They have been at it for a while without me. They started a new venture and asked for my input. When they explained the concept to me I was sold on how good of an idea it was. As I contemplated how to do what they asked of me while sitting at my other job I had an epiphany. Why work to make someone else rich when I can work to make my family (and in turn myself) rich? I quit my career and never looked back.

My grandfather says you always want to have family watching the till. The most trustworthy employees you can depend on.

[Revalos]

Revalos' dad sells medical equipment to Thai ladyboy manufacturers.

No no, I'm obviously importing that technology and expertise to the States! Why have your pedos fly to Thailand when I'm right here to help out? But only if I do it right.

[DoctorUnne]

Is your dad in the business of farming skins from low-level monsters?

[Delias]

No no, I'm obviously importing that technology and expertise to the States! Why have your pedos fly to Thailand when I'm right here to help out? But only if I do it right.

Does...does this count as bio-technology?

[Warriorbird]

Ferenghi Rule of Acquisition #111

Treat people in your debt like family ... exploit them.

[Gsgeek]

If its tv or newspaper recognition, im thinking maybe some of those late night infomercials. Either product or the financial ones... Most of those are shady and some barely legal, if that. Now it is just a matter of guessing which kind he may be involved in.

[Bobmuhthol]

GOLD IS NEVER GOING TO STOP MAKING 30% RETURNS EVERY MONTH. YOU SHOULD BUY GOLD.

[Bobmuhthol]

IT'S THE ONLY INTRINSICALLY VALUABLE CURRENCY. BUY GOLD.

[EasternBrand]

14k or 24k?

[NocturnalRob]

14k or 24k?
http://www.veuze.com/wp-content/uploads/2010/02/fools-gold-movie.jpg