Taking over family business

[Good-Person]

It is easy to continue an established business rather than start a new venture. If your family business is functional and if you have an interest in running a business, you should continue with your family business. However, if you are no longer interested in running a business and do not have interest in your family business niche, you should avopid doing it. If you do something you are not interested in, you cannot become successful

Established business has an edge over other business. However, it is quite possible that a new business may overtake the position of other businesses in case if the owner of the business runs the business in the best way and utilises creative ideas and best resources in order to make the business successful in the end.

 

[Heatman]

It is good to hold on for a while and watch out for things before you decide to take on to the leadership of the family business. This shouldn't be a problem for you if you have been part of the family business.

There's definitely going to be room for learning all the reigns of the business before the family is going to be willing to hand over the business especially when there's something to actually do the handover. It's a bad decision to handover a business to someone who's not ready to head it.