Am I stupid for not inheriting my family business to pursue something else?
r/smallbusiness
Owning a company and running a company can be two different things, you could take over, from the perspective of equity, position yourself as ‘president’ or ‘board member’, then. hire a professional to run it, with vesting shares and a salary and bonus.
this way, you retain ownership, but you’re effectively outsourcing management, then your commitment to the business is simply to oversee that the general manager or management are doing their job well and properly, which can be once a month to quarterly meetings and reading spreadsheets.
Am I stupid for not inheriting my family business to pursue something else?
byu/Witty-Block-9818 insmallbusiness
(this post is a feed post from my comments on reddit)