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-   -   Should I change job from my family biz? Need advice. (https://forums.salary.sg/income-jobs/12058-should-i-change-job-my-family-biz-need-advice.html)

icyboy 15-10-2019 09:56 AM

Should I change job from my family biz? Need advice.
 
I'm 30yo, am a diploma grad in business management. I have been working for my family biz for 7 years. Right now I am drawing a pity 2.9k a month. When I started out was 1.6k which is super low but at that time was young so I didn't mind. Every year there's an increment of average 200 but I suspect might not be so high going further. Bonus is only 1 month.

People from outside think I'm very blessed since have my own business. But really the earnings are so low it's just like a figurehead, got title but no money. My friends working outside most are drawing anywhere from 3k plus to highest 20-30k ish alrdy.

My dad isn't earning a lot for his age. I saw before reported 100k income but that was in good times. Now business is bad so probably much lesser. Only good thing is that we have a fully paid up condo now worth 1.8mil. From selling our previous condo which appreciated and some top up my parents managed to pay it up. They don't earn a lot but through being very thrifty managed this.

Again , I'm contemplating to quit and maybe do something else. But am in a dilemma as this is the path that my parents paved for me and will be angry if I try do something else. The job itself isn't that bad or stressful and it's only from Mon to Fri 9 to 6pm. Also, I am single so actually while 2.9k isn't a lot is actually adequate. But of course who doesn't want more money? Actually if I did something like grab from the start till now I would have way more money then now. What to do in this situation?

Unregistered 15-10-2019 02:34 PM

What type of industry or business?

Can scale?

Maybe try get part time degree first while working family biz, then once get already find new job?

mdf_dan 15-10-2019 04:06 PM

Quote:

Originally Posted by Unregistered (Post 124139)
What type of industry or business?

Can scale?

Maybe try get part time degree first while working family biz, then once get already find new job?

This guy has the right idea, I fully agree. Your family biz may not be doing as well for variety of reasons ie shifting markets, new competition, rising costs etc. There are factors you can't control but there are certainly others you can - get a professional makeover for website, hire digital markerter/growth hacker to increase traffic, exploring ways to scale to horizontal and/or vertical markets etc.

You can also get a degree while working your current job, but be careful to research the degree extensively to ensure that the ROI is worth it.


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