1)If my business is financially stable with a good record, I plan on keeping the business until something new comes around and I would probably adjust and invent something new. My father currently has a business and he is planning on passing it down to my sister, so I also plan on making this a family business and hopefully one day when I have kids, one of them will want to continue the business.
2)I want to have a family business because there is trust and loyalty within each other. We would also be able to envision long-term goals and have commitment towards the business
3)I don't think my exit strategy has influenced my concept because as of right now I don't have any kids to worry about but after doing this assignment, it got me thinking of having a family business one day. Hopefully, with the family business, we are able to save money on expenditures and when the kids are old enough, they can help around the office with small tasks.
2)I want to have a family business because there is trust and loyalty within each other. We would also be able to envision long-term goals and have commitment towards the business
3)I don't think my exit strategy has influenced my concept because as of right now I don't have any kids to worry about but after doing this assignment, it got me thinking of having a family business one day. Hopefully, with the family business, we are able to save money on expenditures and when the kids are old enough, they can help around the office with small tasks.
Hi Sandra,
ReplyDeleteI enjoyed reading your post! My dad also has his own business so I related a lot to your post. I would also like to possibly pass down my business to my children one day if they wanted to get into the family business. I loved the concept of having a business with loyalty and trust. Overall, great post.
Sandra,
ReplyDeleteI think passing the business along to your future children is a great idea and I love that your dad will be passing on his business to your sister. That is how generational wealth is built and maintained. It sounds like you will be setting your kids up fro success! Hopefully, this is a business plan that can thrive for so many years so your children can inherit it! Overall, great post.
Hi Sandra,
ReplyDeleteI think its so amazing that you would like to stick with your business venture. I think that it could be such a great opportunity and in the end if you chose to pursue something else you can always devise another sort of exit strategy. Creating a family business would be wonderful and would enable you to provide for them as well as have something for your kids to also become involved in at a young age. Thanks for sharing!
Sandra,
ReplyDeleteThats amazing that you are preparing and planning to have this business for a long time. I see that it runs in the family. Plus growing up seeing and. learning from your father has really helped shape you to be a great business woman. I genuinely wish. you the best of luck! I know you will accomplish more than you ever imagined.