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I've worked for someone else's family business. And I'll never do it again !! Everyone that's in the family gets away with everything. I always had to take up the slack. The relatives that weren't bosses boss you around anyway.. people were late all the time and it was overlooked. But if you're not in the family and you make a mistake you don't hear the end of it.. The relatives fight and argue constantly.. It was horrible..
The advice that I have for this guy is to not get involved with a family business because dealing with friends and family is a pain in the ass. You have to be dependent on yourself, make your own money and even establish your own company in my opinion
My ex works for her family and has since high school. What I noticed with it is that work life and home life gets very blurred. Issues that happen at work then follows you home and to family functions and holidays too. She tried pressuring me into joining and I said NO WAY. Thank God because I would have been majority F’ed over when we divorced. Your job and where you get your money needs to be your own and not tied to people who can so easily take it away from you over hurt feelings and not actual performance.
If you value your efforts, never work for your family. You'll only be allowed to live up to their expectations and nothing more. If you want to leave for another job, your time working for your family is negative work experience to anyone hiring, no one will want you. All the jobs my family guided me to were shit, and thats just what they wanted for me. My lifestyle didn't start improving until I started choosing for myself what was important and ignoring what everyone else wanted for me. They'll never pay you what your worth.
+1 on the profit sharing. I worked for the family business from 20 years old to 32 adding tremendous value to the business. In the end I had to leave because I had no ownership and wages were stagnant while my family was making bank on capital gains. I can put up family BS if Im getting paid well but I cannot put up with family BS and have poor wages. Currently starting over from relatively nothing, but could be a blessing in disguise because I do have much more freedom to pursue things I want.
Life is truly freeing when you are self made and rely on no one for help or happiness. A wise man can always be found alone. A weak man can always be found in a crowd. Being alone makes you comfortable with yourself, you find your true self worth & this is what makes you alpha.
Worked for a small family business (not my family) and it was the worst place I ever worked. Double standards, non family members get blamed for the family's mistakes, bosses don't know how to answer a phone. Complete trainwreck.
I once worked for a husband and wife team in a small office space. It was a total 50/50 gamble and not a real professional situation. The wife turned out to be very passive-aggressive towards me and when he and I would get passionate in brainstorming and trying to solve problems. He and I got along very well and enjoyed going at things passionately. She would make these funny noises, I guess to clue us in a very passive-aggressive way that she didn't like how we were solving problems. Turns out she was getting rude and offensive with me. Yeah, she didn't like me, so it didn't work out. Never, I mean never, ever go into a work situation like this because all it takes is one to dissent on you and the other will stick up for them because they're husband and wife.
As a business owner that has had many peers in family businesses you need to take Rich's comments to heart. There are evolved business owners that may be open to change (for the better) but you are best to lay out your concerns on the front end as Rich suggests and get your agreement in writing as would any non family member.
You need to make sure that you control everything from Point A to Z that involves your job. What do I mean by that? Simply put, no one can feed you things that are needed for your job, block you, or slow you down. You need to give your department a set budget, make sure you don’t need to rely on a photographer not under you for marketing materials, setting the calendar in terms of what needs to be advertised, etc. any of these things that aren’t core to marketing but 100% are involved in you doing your job can cause you to be held up and extremely frustrated. I’m speaking from experience helping certain aspects of my family business for over a decade.
If your parents don't give you an ownership stake right away or at least a contract that guarantees you an ownership stake after years of service or results milestones. Also have a HARD discussion about when do they (the older generation) plan to retire and give you majority or full control of management. If they aren't transitioning you in your 35-40 year old range, leave. Also, ask career planning both within the company and what skills you will develop so if you leave you are still employable.
Very small firms, family or not, can be problematic for sales and marketing pros. The owner usually does not want to (no matter what they say, or the grand vision they promote) grow the business beyond their own comfort level. I have seen this many many times. The business grows to an excellent upper middle class income for the owner, and after that they subconsciously sabotage any further growth. The owner usually has done the marketing themselves, maybe with the help of outside consultants here and there, and also either does a lot of the sales themselves, or is closely involved with their sales staff. When they bring somebody new in, either in sales or marketing, or business development and this person hits a new channel or large customer, the owner feels very threatened ego wise when they all of a sudden cause a large influx of new business. One way or another, the agent of this new success is usually gone within a year or two.
Instead you should use your family to network and meet new clients. It is a bad idea to become an employee to the family business but if you are able to work as a contractor and invoice them that way you have more control and can add value. I would still recommend you network and find clients through this family business.
Short answer: Do NOT join a family business. After college, I tried being part of a family startup business -- it didn't go well. I ended up shouldering a LARGE portion of the work, yet it was never enough. Pay was low from the start (and that was not factoring in 60-80+ hour work weeks), and schedules / deadlines were not realistic. My engineering insight was brushed aside and my input was brushed aside. I was raised to respect family and elders -- this conditioning was my ultimate downfall. My Life upkeep (foolishly) fell aside to trying to keep the family business on path - this eventually resulted in a bike accident (front tire tacoed) that required reconstructive surgery and 4 months lying in bed (I got f*ed). My family pushed me to come back to work, but I was still physically hurting a lot. I told them I wouldn't be able to do as much & other would have to carry more of their own load. This fell upon deaf ears & no one exerted any additional effort. Only then did I open my eyes to see to true picture. I left the family job -- their progress slowed and then stagnated -- evidence enough to me that my efforts were what was making things move. Though my 'Family Business' experience was tough, I DID learn a lot about what is needed to actually get something done, how not to do things, how to identify non-healthy work environments, and when to walk away from something. That said, you can learn a lot of those same Life Wisdom tips from great people like Rich, and not learn the heard way (thru first hand experience). The paths of Life are littered with land-mines, pits, and snares. Avoiding these traps will make your Life a much smoother Adventure. Being Red-Pill aware is a solid foundation.
Have been in a few family companies and it is not a good place to be in. Usually, there is some "employee" who will not do a good job and nobody is able to let go of that person because it is an uncle or wife or somebody close to family. Another way to look at it is for example: If you are trying to start whatever company is your wife, uncle whoever in your family best person for the position with the best skillset and talent? It is highly unlikely.
Hey rich, can you please make a video on how to deal with toxic parents? Please? I don't have any money to sponsor you. Please consider my comment please.
I do regret getting a marketing degree from college. Academia is so far behind in marketing that it's not even funny. I was able to get my first marketing job by teaching my self Google Analytics, Google Ads, copywriting, email marketing, and more.
Depends on the family business. I can guess that if you're Donald Trump, Bill Gates or Pierre Peladeau's son, you might seriously consider being part of the family business. Otherwise, if it's to join your local car dealer, Walmart or convenience store, I'd definitely say it's not worth it. Personally, I was not born a Sugar Daddy's son. And I really don't like people, especially Alphas of either sex, trying to boss me around, no matter how much money I'm paid to endure them. So I'm on my own. What I got I owe to no one except myself.
My dad is a millionare from scratch in the dominican republic with his company. Idk if i should run it. Its a family buesness. But he works so much that it scares me. I never see him fully relaxed. Idk what to plan to do. Im 16. Nearly 17. Reasons i think ideregret it is cause i dont think ide be particularly intrested in electrical engineering which is the company. It sells electronics and inverters. And another thing thats making me rethink running it is the time it takes from your life running it. Idk what to do. Idk if to do my own job here in the US and make less money or work over there running it
Could be your dads inability to see that he might be limiting the growth of the company because there is probably a team of people who should be doing his work, helping his team grow.
@@eduardogrullon696 I would say whatever you prefer. Im in a similar position to you, I work for my father and I personally dont like to work in this job but Im investing every cent I can until my financial independence appears. To me, having a job is all about money. I dont work to be happy. If I was you, I would work on whatever makes more money
Unless you have lost your job and need a job that's the only time I recommend working with family. Working with family can be risky and lines get blurry because it's family. The question you need to ask yourself do you get along with your family?
Btw...I just bought your book and I like it very much! I can relate to alot of it and I can see how I fucked up so many times in the past....Hell I never had problems getting woman....They even follow me home wearing nothing under a fur coat. I need to turn these women away from now on. Gotta turn away crazy! But damn they are so fun at first! So I need to work on Vetting them more before hand.
Do you have advice on how to eventually educate a son on about blue pill vs red pill. I find myself just planting seeds and not focusing on it with him. He is still young. Everyone says their kids are smart but I think he is pretty socially smart. This doesn't mean he will be financially smart and woman smart. I guess the question is do you teach this early or much later?
GET MY BOOK - "The Unplugged Alpha, The No Bullshit Guide To Winning With Women & Life:" amzn.to/3fIVW3J
CHANNEL SPONSOR: You're showering anyways, so why not buy handmade soap from a sponsor that supports the creation of my content. Use code "COOPER" at checkout and Get 10% off Tactical Soap mentioned here: bit.ly/2jQEZbz
GET 1 ON 1 COACHING WITH ME TODAY: clarity.fm/richardcooper
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I've worked for someone else's family business. And I'll never do it again !!
Everyone that's in the family gets away with everything. I always had to take up the slack. The relatives that weren't bosses boss you around anyway.. people were late all the time and it was overlooked. But if you're not in the family and you make a mistake you don't hear the end of it.. The relatives fight and argue constantly..
It was horrible..
The advice that I have for this guy is to not get involved with a family business because dealing with friends and family is a pain in the ass. You have to be dependent on yourself, make your own money and even establish your own company in my opinion
Fuck that, if it will put more money in your pocket do it. Simple as.
My ex works for her family and has since high school. What I noticed with it is that work life and home life gets very blurred. Issues that happen at work then follows you home and to family functions and holidays too. She tried pressuring me into joining and I said NO WAY. Thank God because I would have been majority F’ed over when we divorced. Your job and where you get your money needs to be your own and not tied to people who can so easily take it away from you over hurt feelings and not actual performance.
If you value your efforts, never work for your family. You'll only be allowed to live up to their expectations and nothing more. If you want to leave for another job, your time working for your family is negative work experience to anyone hiring, no one will want you. All the jobs my family guided me to were shit, and thats just what they wanted for me. My lifestyle didn't start improving until I started choosing for myself what was important and ignoring what everyone else wanted for me. They'll never pay you what your worth.
+1 on the profit sharing. I worked for the family business from 20 years old to 32 adding tremendous value to the business. In the end I had to leave because I had no ownership and wages were stagnant while my family was making bank on capital gains. I can put up family BS if Im getting paid well but I cannot put up with family BS and have poor wages. Currently starting over from relatively nothing, but could be a blessing in disguise because I do have much more freedom to pursue things I want.
Life is truly freeing when you are self made and rely on no one for help or happiness.
A wise man can always be found alone. A weak man can always be found in a crowd. Being alone makes you comfortable with yourself, you find your true self worth & this is what makes you alpha.
I agree. Not just alpha but high valued.
High income dont make you high value
Worked for a small family business (not my family) and it was the worst place I ever worked. Double standards, non family members get blamed for the family's mistakes, bosses don't know how to answer a phone. Complete trainwreck.
I once worked for a husband and wife team in a small office space. It was a total 50/50 gamble and not a real professional situation. The wife turned out to be very passive-aggressive towards me and when he and I would get passionate in brainstorming and trying to solve problems. He and I got along very well and enjoyed going at things passionately. She would make these funny noises, I guess to clue us in a very passive-aggressive way that she didn't like how we were solving problems. Turns out she was getting rude and offensive with me. Yeah, she didn't like me, so it didn't work out. Never, I mean never, ever go into a work situation like this because all it takes is one to dissent on you and the other will stick up for them because they're husband and wife.
I wish I saw this video at 22 but grateful I saw it today. Keep kicking ass!!
As a business owner that has had many peers in family businesses you need to take Rich's comments to heart. There are evolved business owners that may be open to change (for the better) but you are best to lay out your concerns on the front end as Rich suggests and get your agreement in writing as would any non family member.
You need to make sure that you control everything from Point A to Z that involves your job. What do I mean by that? Simply put, no one can feed you things that are needed for your job, block you, or slow you down. You need to give your department a set budget, make sure you don’t need to rely on a photographer not under you for marketing materials, setting the calendar in terms of what needs to be advertised, etc. any of these things that aren’t core to marketing but 100% are involved in you doing your job can cause you to be held up and extremely frustrated. I’m speaking from experience helping certain aspects of my family business for over a decade.
If your parents don't give you an ownership stake right away or at least a contract that guarantees you an ownership stake after years of service or results milestones.
Also have a HARD discussion about when do they (the older generation) plan to retire and give you majority or full control of management. If they aren't transitioning you in your 35-40 year old range, leave.
Also, ask career planning both within the company and what skills you will develop so if you leave you are still employable.
Great knowledge & advice
Shared this with my children 👌🏽😎
they are not YOUR children
they are the milkman's children!
This young fella should offer to work on a freelance basis. Establish his own business, while juggling his family's marketing and his side-hussle
Very small firms, family or not, can be problematic for sales and marketing pros. The owner usually does not want to (no matter what they say, or the grand vision they promote) grow the business beyond their own comfort level. I have seen this many many times. The business grows to an excellent upper middle class income for the owner, and after that they subconsciously sabotage any further growth. The owner usually has done the marketing themselves, maybe with the help of outside consultants here and there, and also either does a lot of the sales themselves, or is closely involved with their sales staff. When they bring somebody new in, either in sales or marketing, or business development and this person hits a new channel or large customer, the owner feels very threatened ego wise when they all of a sudden cause a large influx of new business. One way or another, the agent of this new success is usually gone within a year or two.
Instead you should use your family to network and meet new clients. It is a bad idea to become an employee to the family business but if you are able to work as a contractor and invoice them that way you have more control and can add value. I would still recommend you network and find clients through this family business.
Your book has just arrived 👌🏼
This video sent chills down my spine, this dudes situation is exactly what I am going through right now XD
Mine too
Are you working or thinking about it?
updates?
I work for my mom business but on my end it’s not good for me cause I’m not getting anywhere so I plan on getting my own business in art
Short answer: Do NOT join a family business.
After college, I tried being part of a family startup business -- it didn't go well. I ended up shouldering a LARGE portion of the work, yet it was never enough. Pay was low from the start (and that was not factoring in 60-80+ hour work weeks), and schedules / deadlines were not realistic. My engineering insight was brushed aside and my input was brushed aside. I was raised to respect family and elders -- this conditioning was my ultimate downfall. My Life upkeep (foolishly) fell aside to trying to keep the family business on path - this eventually resulted in a bike accident (front tire tacoed) that required reconstructive surgery and 4 months lying in bed (I got f*ed). My family pushed me to come back to work, but I was still physically hurting a lot. I told them I wouldn't be able to do as much & other would have to carry more of their own load.
This fell upon deaf ears & no one exerted any additional effort.
Only then did I open my eyes to see to true picture.
I left the family job -- their progress slowed and then stagnated -- evidence enough to me that my efforts were what was making things move.
Though my 'Family Business' experience was tough, I DID learn a lot about what is needed to actually get something done, how not to do things, how to identify non-healthy work environments, and when to walk away from something. That said, you can learn a lot of those same Life Wisdom tips from great people like Rich, and not learn the heard way (thru first hand experience).
The paths of Life are littered with land-mines, pits, and snares. Avoiding these traps will make your Life a much smoother Adventure. Being Red-Pill aware is a solid foundation.
In short stay out of family businesses unless you have a really happy positive family life , a unicorn if you will .
Must develop self identity first or you'll be miserable
One of my old bosses offered me a 50% raise immediately after I told her I was going to resign. I resigned anyway.
Have been in a few family companies and it is not a good place to be in. Usually, there is some "employee" who will not do a good job and nobody is able to let go of that person because it is an uncle or wife or somebody close to family. Another way to look at it is for example: If you are trying to start whatever company is your wife, uncle whoever in your family best person for the position with the best skillset and talent? It is highly unlikely.
I wish I had this advice when I was 22....
Hey rich, can you please make a video on how to deal with toxic parents? Please? I don't have any money to sponsor you. Please consider my comment please.
I do regret getting a marketing degree from college. Academia is so far behind in marketing that it's not even funny. I was able to get my first marketing job by teaching my self Google Analytics, Google Ads, copywriting, email marketing, and more.
Leaving the family for his own business might be a problem, I am In the same position as him and that's what worries me.
Depends on the family business. I can guess that if you're Donald Trump, Bill Gates or Pierre Peladeau's son, you might seriously consider being part of the family business. Otherwise, if it's to join your local car dealer, Walmart or convenience store, I'd definitely say it's not worth it. Personally, I was not born a Sugar Daddy's son. And I really don't like people, especially Alphas of either sex, trying to boss me around, no matter how much money I'm paid to endure them. So I'm on my own. What I got I owe to no one except myself.
what i know about joining a family biz ..never mix biz with family and never work for a family owned biz
My dad is a millionare from scratch in the dominican republic with his company. Idk if i should run it. Its a family buesness. But he works so much that it scares me. I never see him fully relaxed. Idk what to plan to do. Im 16. Nearly 17. Reasons i think ideregret it is cause i dont think ide be particularly intrested in electrical engineering which is the company. It sells electronics and inverters. And another thing thats making me rethink running it is the time it takes from your life running it. Idk what to do. Idk if to do my own job here in the US and make less money or work over there running it
Could be your dads inability to see that he might be limiting the growth of the company because there is probably a team of people who should be doing his work, helping his team grow.
BP he keeps telling me that he works so much cause over there in the caribean its hard to find trustworthy people to run certain stores there.
just work and save the maximum you can, try to be a self-neet asap
Noroi the question im asking is if i should run his buesness or do my own thing
@@eduardogrullon696 I would say whatever you prefer. Im in a similar position to you, I work for my father and I personally dont like to work in this job but Im investing every cent I can until my financial independence appears. To me, having a job is all about money. I dont work to be happy.
If I was you, I would work on whatever makes more money
Unless you have lost your job and need a job that's the only time I recommend working with family. Working with family can be risky and lines get blurry because it's family. The question you need to ask yourself do you get along with your family?
@@jbravo.2539 my brother is the one teaching me on cryptocurrency he's even giving me some since joining.
@@puddingpudding9579 how is your dutch tulips going since the make believe crypto market crashed?
Btw...I just bought your book and I like it very much! I can relate to alot of it and I can see how I fucked up so many times in the past....Hell I never had problems getting woman....They even follow me home wearing nothing under a fur coat. I need to turn these women away from now on. Gotta turn away crazy! But damn they are so fun at first! So I need to work on Vetting them more before hand.
Rich, you gotta do a segment on the new Meghan Markle drama going on!!!!please
No he doesn’t, especially if people outside the media pumping it don’t care-I sure don’t !
Do you have advice on how to eventually educate a son on about blue pill vs red pill. I find myself just planting seeds and not focusing on it with him. He is still young. Everyone says their kids are smart but I think he is pretty socially smart. This doesn't mean he will be financially smart and woman smart. I guess the question is do you teach this early or much later?
I FILED MY ONLY BANKRUPTCY AS A RESULT OF A FAMILY BUSINESS... DON'T DO IT...