11-12-2023 03:36 PM | ||
Unregistered |
I sort of regretted in the past. But I had no choice cos the company is doing pretty badly due to poor management from my parents. Managed to clear 300k of bad debt in 4 years before leaving the company to gain more experience outside. Found out that what I learnt in the 4 years is actually very relevant and useful outside. Been close to 5 years since I left and am considering going back to take over next year since I have gained enough experience outside. Planning to make a lot of changes to the company with what I've seen and learnt over these 5/6 years. Hope to make the company bigger and better, and confident to a certain degree that I will be able to do so. End of the day, there is a cap when u are working for people. The limitless potential of owning your own business is always better. |
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11-12-2023 02:34 AM | ||
Unregistered | only if you do not have any siblings to share the inheritance, and that your parents are not in good health will pass on soon kind it will be worth it. Else better to move on. | |
10-12-2023 08:15 PM | ||
Unregistered | TS is your family business earning a sizeable amount of profit? A lot of business owners would prefer to earn less on personal income so that they can pay less taxes and have the house and car to be bought under company name. Don't get blindsided by just the low income that you are getting. | |
16-01-2023 03:20 PM | ||
Unregistered |
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16-01-2023 08:23 AM | ||
familybiz |
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Also they will probably cash out their condo and downgrade to HDB most likely as if they retire in another 10 years or so they have no other source of income. |
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16-01-2023 08:19 AM | ||
familybiz | I don't consider 3.8k after more than 10 years lucky. And I started really peanuts pay and work my way up. Also, they don't seem to be wanting to pass to me anytime soon. The general feel I get is there will be working till they physically or mentally cannot work. Also, I've seen before my dad doesn't earn much. He only earned $100k a year all in and that's on a good year. So basically, I'm screwed probably taking home $3k+ for another 10 years. | |
06-01-2023 08:35 PM | ||
Unregistered |
Well, you can consider venturing out and see how you fare. If things don't work out, you can always go back to your family biz. Have an honest discussion with your family first. The other way is to help innovate your family biz like what the other poster suggested. Grow your family biz. |
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06-01-2023 04:48 PM | ||
Unregistered | You are lucky to have a family biz to work in in the first place. Most of us do not have such luxury. Clearly it will be your company in the future. | |
06-01-2023 11:16 AM | ||
Unregistered |
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why not see the situation in a better outlook? Look for ways to improve their customer network, more leads, more sales. Use your youth to modernise their business potential. With more sales, more profit sharing will follow. I dont see how your parents property has a link to you working for them. Your parents will likely pass it to you anyway. They are probably waiting for you to level up and grow their business. Give your all, regret none. |
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05-01-2023 07:15 PM | ||
Unregistered | if they will everything to you after they pass on, then might be worth it | |
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