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Re: Join the Family Business or strike out on my own?

Posted: Mon Jul 16, 2018 3:29 pm
by TheRedHare
well, really I was thinking of ways to expand the business and start a small chain of some sort within a region.

Re: Join the Family Business or strike out on my own?

Posted: Tue Jul 24, 2018 7:01 am
by NPV
My point (which was of course mentioned by others in the topic as well) is that it is much easier to grow a profitable business in a growing and profitable industry. Which software is, and small town bed-and-breakfast is not. If you want to start a business, coding a side project or two could be a much better start than joining the family business simply because of the fundamentals of these two industries - not to mention being much easier from the point of view of entry/exit costs, capital intensity, regulation, HR etc.

Re: Join the Family Business or strike out on my own?

Posted: Thu Jul 26, 2018 6:41 am
by JamesR
You might have a bunch of assumptions that you need to validate or really analyze properly.

That you can scale or expand the business, sucessfully
That you can cut costs (without somehow affecting quality and reducing customers)
That you can get the business to open more days a week.. 7 days?
That marketing would help a lot

Maybe you can treat it all as a learning experiment. Maybe the first goal should be to focus on improvements that will also make it more attractive to buyers. A big clean up and fresh paint and repairs and so on perhaps, fine tuning what's there to make it more attractive to buyers?

I guess I get the sense you are definitely wearing rose-colored glasses and you're in dreamer mode.

BTW, could list the place on airbnb and also run "airbnb experience"