Thoughts on Taking Over the Family Business One DayBy Mikaela Bevelander on Wednesday, December 16, 2020
My thoughts on the awesome responsibility of taking over my parents' empire.
Let’s start at the beginning. I am a fourteen year old girl and the youngest of four kids. My parents have worked day in, day out trying to build their business just how they like it. Although it constantly improves and contorts, it is still somewhat like their fifth baby. The employees have become something of a family to us, and we’ve formed many unbreakable bonds. Hours upon days have gone into coding, hiring, and other tough decision, which is why I am terrified when they ask me, “would you want to take over the business one day?”
While the thought of failing feels daunting, when I really think about it, there are also many pros to taking over the family business.
- Built-in family
- You’re already halfway there
- You have the honor of upholding your name
First off, the employees that have long been with the company will most likely remain. This sounds like a great advantage because I would not have to start at square one, rather square fifty of one hundred. My parents already made the hard decisions between quality contenders for each position and have found a workforce full of passionate, hard-working employees who truly care. This process takes a great load off my shoulders, as employees would be at my disposal as soon as I set foot in the company.
Of course, the employees won’t just be at my disposal; we will have already established a sense of trust. I already tag along to may parents’ office, where I observe their employees and their roles. This gives me a chance to get a look at the everyday life of the employees—my parents included. With this experience, I will already have an idea of who I can rely on for what task, making the workplace environment less stressful in a highly stressful time.
Most entrepreneurs build their business from the ground up using basic procedures: constructing a plan, funding the plan, finding a location, and getting the ball rolling. These basic steps are often the hardest in the long run. With the hardest pieces of the puzzle already taken care of, the rest of the journey will become that much easier.
Starting a business from scratch also requires tremendous capital. In fact, it can take years for the entrepreneur to make any profit at all. By taking over a family business, the money hose is already flowing, therefore financial worries do not need to burden me and I can do my best to simply improve on what’s already in place.
Moreover, by taking over the family company, I can uphold my family name. My parents have trust in me to take their fifth baby, maintain its condition, and do all I can to improve beyond what they thought possible. I have the honor of taking my family’s time, effort, and hard work under my wing and caring for it just as much as they do now.
When taking over their business, I can do my best to impress them with the skills I have acquired from observation, and the growth and maturity that will come along with it. In addition, after all they have given me in life, the least I can do is continue to support them and give them the best of the best throughout adulthood.
After I have stepped back and taken a look at the big picture, taking the business over does not seem quite as distressing and overwhelming. Although the proposition can still feel intimidating, I can break it down and try to understand it in smaller parts. The workplace environment would become as stress free but hardworking as possible, the employees would continue to build on the previous bonds, making them stronger, and I can continue to impress my parents and live up to my name. Money will continue to flow, giving me room to make adjustments.
After I think more about it, I can finally face the big question, “will you take over the business?” and not feel a swell of nervousness in my stomach or the fear of rejection and failure. I can be confident in my answer and feel calm and collected when I say I am open to the idea of taking over the business my parents have built from the ground up. It would be an honor to continue the hard work and success of my family.