/biz/ - Business & Finance

[Anonymous No.1794600]

>complete undergrad
>father owns two small business but can no longer run because he became mentally disabled...mom begins to run the larger one (business B) but doesn't know anything about the smaller one (business A)
>choose to help them out instead of starting my career so I could help build up a nest egg for my family. meanwhile my siblings are uninvolved and have zero interest in business A.
>figure this would only be for a bit, but a bit has turned into a year now because a lot needed to be fixed and now I have projects that I want to complete
>salaried for 18k/yr with essentially ownership and managment responsibilities at both
>father unable to contribute, mother unable to contribute beyond administrative and some operational management duties to business B

Now I'm reflecting on my situation after 1 year. I've reaffirmed that for as long as they own the businesses I'm going to be relied on for the majority of the ownership/managerial duties. But obviously in hindsight I realize I've been underpaid and things would need to change moving forward. I want to be paid what I'm worth, and if I'm going to be held to the expectations of an owner then I want to be made an owner. My grandfather agrees with this, but my parents (mom) refuses the conversation since I've started to bring it up (and my dad obviously can't fully conceptualize it). I'm thinking of bringing my grandfather (and possibly another family member) to the negotiation table before tax day to figure this all out. If we are unable to come to terms then business A would go to absolute shit and business B would under perform.

Could I get some thoughts and advice please?

[Anonymous No.1794608]

>>1794600
women dont know anything about business

[Anonymous No.1794613]

Talk to a lawyer.
You should be compensated with equity in the business in return for your position.

[Anonymous No.1794617]

>>1794600
How does one become mentally disabled? Sad disabled or happy disabled like "yay! potato"
Does your dad shit his pants tho?

What if you caught that shit too, Op? An hero now?

[Anonymous No.1794629]

>>1794617
It's a neurodegenerative disease. Thankfully there is no history of it in the family, nor is it known to be hereditary.

[Anonymous No.1794779]

bump

My ideal role would be "consultant". I begin my career and continue on with my own life, but am available whenever to assist and work on my own projects withing the businesses.

[Anonymous No.1794786]

>>1794613
Honestly, this, at least at some point.

If it's more of a question of how to get your mother to talk about it, then don't jump to legal action right away, but it's definitely worth consulting a lawyer to see your options.

My thought is that if your mother is avoiding the topic altogether, it may be due to some amount of emotional stress about your father's state, like a refusal to accept things the way they are... if that's the case, I suppose try to be sensitive about it, but at some point or another you may need to tell her that she needs to face the facts and that it's an important discussion.

I definitely wouldn't let it stew for much longer or the current situation may become just more and more expected of you.

[Anonymous No.1794813]

>>1794786
Thank you. I'm not hoping to hear anything specific and am open to all thoughts and advice. I just really need to talk about this with men that are business savvy.

Opening the dialogue with my mom is going to be difficult. She avoids conflict or discussion and would happily string me along and rationalize it to herself somehow. I really think my grandfather (her dad) is the only person to make this happen. I pay him to hang out and work with me at business A so he knows the reality of the situation.

[Anonymous No.1794835]

>>1794813
OP I think you need to man up and confront your mom yourself like an adult. If you're gonna just rely on your granddad to grab the bull by the horns then maybe he should be in charge of the business.

Also, you need to look out for family but not necessarily for their assets that they can't take care of. If it's worth it to you to keep this business (or these businesses) around so you can inherit them, then you can find motivation to put in the work, but if you don't care, it's not your problem, go try your own ventures.

[Anonymous No.1795061]

>>1794600
That's a tough cock to suck, OP. Sorry to hear about your dad.

If I were you, I would definitely be thinking the same thing. Why does your mother refuse to bring up the fact that she's using you?

Obviously you're in a different situation than most, considering you're working with family. I would simply tell your mother that you have a life to live and a career to make. You can't sit there forever and wait for your mom to give you control of the second business, and it's not fair to you to have to sit back and run company A. Helping family is one thing, but you're getting used at this point.

Tell your mother this. Tell her that it's not fair, and that she needs to get someone else or make it worth it for you. Bad luck happens, but it's not up to you to try and fix it.

[Anonymous No.1795065]

>>1794600
family and business don't mix

either quit or be made an owner, don't be an employee or "consult" for them

[Anonymous No.1796488]

bump

Thanks for the thoughts and advice. I'll be keeping the tab open until the thread ends.

When the time comes, how should I negotiate this?
If it doesn't work out, how should I transition out of the businesses? How should I handle any future work that they try to get me to do?

[Anonymous No.1796556]

>>1794600
Do you actually have an interest in owning/running either of these businesses? If not, I'd try to move on to whatever it is you want to do with your life. If your mom can't/doesn't want to run the businesses, she could sell them. If you do want to be in these businesses long term, you'll want to have a conversation with your mom about succession planning. See if you can work out a sensible way for you to gain ownership in the companies through either gifts, equity grants as part of your compensation or you buying a stake.

[Anonymous No.1797221]

>>1796556
Only secondary to my own career. Speaking of which, how would I go about presenting myself to hiring managers with this sort of work experience?

[Anonymous No.1797237]

>>1797221
You sent me here from another thread. You're asking about "sort of work experience", but what is it you're specifically referring to?

Also >>1795065 is totally right. You can go even broader, just don't get into business with people you like. Shit is going to get rough and sour at some point, and your ability to separate personal decisions from business decisions is what makes and breaks people. Although I give you huge props for sticking to family. Sometimes it's just possible.

[Anonymous No.1797238]

>>1797237
NOT possible. Sorry.

[Anonymous No.1797244]

How old are you? Are you worried about getting out of your family's cycle or making sure your family is taken care of?

[Anonymous No.1797261]

>>1797237
I have experience with most functions in a business, but on a small business scale. This is all I've done since completing my degree a year ago. I'm wondering how hiring managers would view this scenario for someone looking for an entry level analyst position.

>>1797244
If we can't come to terms where I could do this as secondary work to my own career, then both. Mid 20's.

[Anonymous No.1797271]

>>1797237
>Shit is going to get rough and sour at some point, and your ability to separate personal decisions from business decisions is what makes and breaks people.

When it's good, it's great. When it's bad, it's absolute shit. Moving forward, I'll try my best to avoid the temptation. I can separate personal and business, but I can't expect anyone else to be able to do it.

[Anonymous No.1798151]

>>1795065
Sadly true. Most business relationships dont work without strickt guidlines and clear understanding