Putting in notice.

Djstorm100

Always have a plan
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Have a meeting tomorrow with my manager for our bi-weekly meeting. Which is pretty normal, however I'm putting in my notice. For the first time in my career I'm nervous how it will play out, as I don't want to burn bridges. While I do like my job it has caused me to stop other side jobs (Machining for example). Manger passes by the shop on the way home and so he knows when I'm in the shop. Would be going back to work full time with the family business. Later at some point taking it over.

Dad needs help, it's a family business. He finally admit, which is something big. One day the business would be my wife and I's. Pops informed me about a test the Dr. did that shows evidence the has a small stroke in the past. Which is scary as well for him but for that moment after he told me it, I though "what if ...what if I lost him". He will be 59 this year. I've worked for the family business since 2003, when I "left", I just wanted to do my own thing. Experience something new, get out of his shadow. I say left because I never did actually leave. Currently I'm more of a fix it guy. Air system, hydraulic machines (primary job is in hydraulics), email/computer/IT guy, also implementing new process and machinery to have higher through put. All the mention system, I either put together, installed and/or maintain it. Something goes wrong, I'm the first guy he calls.

I'm burnt out at current job. Passed on numerous occasion for a direct hire position because I do not have a 4 year degree. However I've got 7 years, worked my way up from drafting to a system engineering,

Switching jobs I would loose all my benefits. Take home pay would with Dad would be the same as my current job but with benefit charges taken out ( insurance, 401k, etc). Wife would pick up insurances and some of you guys know I'm type 1 diabetic. I'll be 32 in Nov and honestly, it's do or die for this switch. It's a reap what you sow type thing. I love what I currently do but the "huge corp. America" is just killing it for me.

Dad and I talk at length, he never has pressured me one way or the other. However he never worked for big crop America, on this level. Pops mention, "well if you get hired on direct what does that mean?" Was kinda taken back from this and said "means my seat number goes up, still just a body sitting in a number seat. Feel like when economy goes down I would be on the short list for showing I want to/considering leaving"
 
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Do what you think is best. Talk to your wife...talk to your Dad.
Talk to God.... where is He leading you?

I pray that God will give you the wisdom to make the right choice for your family.

DS

Sent from my XT1575 using Tapatalk
 
Do what you think is best. Talk to your wife...talk to your Dad.
Talk to God.... where is He leading you?

I pray that God will give you the wisdom to make the right choice for your family.

DS

Sent from my XT1575 using Tapatalk

Dad is honestly trying to be neutral to my face but I know he wants me there. Mom, Grandpa, others have said so. Customers when I've stop by have said "Your Dad say you are coming back".

My Dad is old school, doesn't tell you how he is feeling or anything like that. Heck it wasn't until I was 25 or so before we started to say "Bye, love you" on the phone or when I left the house.

Wife, understand it will be tight for a little bit, but long run would be worth it. I want to provide for my family like my Dad did for me or more. God as always told me and felt, family first. Everything else is noise in the cog wheel of life.
 
I think going to work in the family business is a wise direction. You have seen the market ups and downs have affected your customer base. You know you are the only game in town that does what you guys do.

When i worked for a construction company i was at your old shop a few times, but never put 2 and 2 together.

I say do the move, enjoy your life.
 
Lots and lots of people in situations similar to yours get disappointed because Dad really never decides to retire. It’s his baby, he probably has more time in building that business than in raising you. Before I went back I’d try to tighten up the “someday” language, not to push him aside but to set reasonable goals and define progress towards you taking it over.

In my opinion you will each be best served if you come back as an owner who is very hands on, vs coming in as an engineer or machinist or bottle washer that will someday become an owner. He may not want to hear that, he may just want you to trust him to turn it over one day, but that can become a sword hanging over your head and your relationship, which sucks.

You might even want to consider buying him out as a way to formalize things. For example, you buy the business for 5x EBITDA, he funds the transaction by lending you the money, you pay that note off with interest over the next 10 years. He agrees to work for the business for 3 years, or 5 years, or whatever, to facilitate a smooth transition. At the end of the period he can stay or go as you decide.

Best of luck, transitions at family businesses are very hard, don’t underestimate the challenges.
 
^ read that carefully. Then read it again.

Taking over a family business can be wonderful, or devastating. It is truly in everyone's best interest to have the plan committed to paper now, not some day.
 
Wife, understand it will be tight for a little bit, but long run would be worth it. I want to provide for my family like my Dad did for me or more. God as always told me and felt, family first. Everything else is noise in the cog wheel of life.
Life is matter, in the long run do what matters.
 
When the economy tanks, it will suck to be running a small business... or it will suck to be laid off from a big company. Take yer pick!

The benefits of doing what you love, with your father, in a business that will one day be yours, are immeasurable!

Do it right, as described above, and simply decide that it will go well. Then, make it go well. You will love it, your father will love it, and your family will love it.

I've been self employed for almost 40 years, which is proof that one can survive business cycles in a small business. The Big Corporations that I worked for long ago are all either bankrupt or merged out of existence.
 
@JimB has some sage advice, above.

I was in business for myself the last half of my career, but it was just me. I started it, and ran it, so all failures and successes were on me and I didn't have to ask anyone else's opinion about what I did.

If there is more than one of you in the business "with skin in the game" beyond just a paycheck I would want something put in writing. While it might seem "mistrusting" to ask to do that now, you will both find out some things in the process about different expectations each of you has that both of you might not have known before, and it will serve to protect your relationship down the road.
 
Lots and lots of people in situations similar to yours get disappointed because Dad really never decides to retire. It’s his baby, he probably has more time in building that business than in raising you. Before I went back I’d try to tighten up the “someday” language, not to push him aside but to set reasonable goals and define progress towards you taking it over.

In my opinion you will each be best served if you come back as an owner who is very hands on, vs coming in as an engineer or machinist or bottle washer that will someday become an owner. He may not want to hear that, he may just want you to trust him to turn it over one day, but that can become a sword hanging over your head and your relationship, which sucks.

You might even want to consider buying him out as a way to formalize things. For example, you buy the business for 5x EBITDA, he funds the transaction by lending you the money, you pay that note off with interest over the next 10 years. He agrees to work for the business for 3 years, or 5 years, or whatever, to facilitate a smooth transition. At the end of the period he can stay or go as you decide.

Best of luck, transitions at family businesses are very hard, don’t underestimate the challenges.

Thanks Jim,

Business started in 2003, he been in this industry for well over 35 years. I was in high school up until 2012 I worked after school and then full time. The “someday” is 5 to 6 years, depends my personal growth. There has been times where I ran the business because Pops/Mom went on a vacation or to a trade show. This last time he was impressed at how I ran it over a week time, what I order, how I handled our customers, etc. My Dad, like most, do not give out compliments hardly ever.

We’ve talked at length, where I could jump in a instantly take over in areas he is not as knowledgeable. Website, social media, streamlining our work flow, looking more professional in areas.

I honestly do trust him, he’s never done me wrong I can honestly say.


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I honestly do trust him, he’s never done me wrong I can honestly say.


Sent from my iPhone using Tapatalk

I don't think he will knowingly do you wrong but sounds like there might be a bit of lack of communication. Without things like take over dates set in stone, he might fell pushed out and not say anything till it has already hurt your relationship.

I have worked with family and had them work for me. I have learned that most can not separate work and family life. So now I spell out everything to the letter. And do it while everyone is calm and happy.

I would set the take over in stages. Stage one would be now- you take over Website, social media, streamlining our work flow, looking more professional. Maybe Stage 2 is in 2 years- you also do HR, hiring, accounting... Stage 3 would be finale stage in 4-5 years when you become president of company.

But even then, keep your dad as a "consultant". If he is the type that the business is his baby, shutting him out completely and him feeling unneeded will be tough for both of you. But also put something in writing that says if he becomes physically or mentally unable to preform his duties he will step down.
 
Do what you think is best. Talk to your wife...talk to your Dad.
Talk to God.... where is He leading you?

I pray that God will give you the wisdom to make the right choice for your family.

DS

Sent from my XT1575 using Tapatalk

I can’t articulate the words any better


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One big mistake I see folks doing in small/family business is knowing all about the work but not much about the business. Keeping customers happy is easy if you have a good work ethic, good employees and a good head on your shoulders. But you'll need to know a lot about stuff that has zero to do with machining to keep your business alive after Dad exits.
 
Beware going in business with family. Been there. That's all I can offer.
 
Mister, one day with Pops is worth a damn sight more than any half-assed corporate career ever dreamed up. Family is always tops and you are blessed to have a opportunity most would cherish to live.
 
One big mistake I see folks doing in small/family business is knowing all about the work but not much about the business. Keeping customers happy is easy if you have a good work ethic, good employees and a good head on your shoulders. But you'll need to know a lot about stuff that has zero to do with machining to keep your business alive after Dad exits.

We sell commercial building supplies. The biggest thing is to keep your word to the customer which we do 99.99% of the time. Seriously. You need 100 tons of material fabricated and A, B, C products. We say Thank you and we will have it ready in 3 weeks. Week 2 we are calling to say "can we deliver it".

Beware going in business with family. Been there. That's all I can offer.

I've been in and part of family business for 13 years, sure half of the time wasn't day to day ops but the times I was there. My Dad rode my butt hard, he expected more of me. For that I'm glad. Hell I wish he pushed me harder, now that I'm order.

Mister, one day with Pops is worth a damn sight more than any half-assed corporate career ever dreamed up. Family is always tops and you are blessed to have a opportunity most would cherish to live.
 
Thank you all for the insight, manager cancelled our meeting. Going to at least wait until I see him to put in my notice.
 
Best of luck with the exciting new endeavor. I can sense that you are going to be successful just reading your posts.
 
One thing that I have seen that helps transitions like yours is to find out what responsibilities your dad doesn't like and ask if you can take them over so he doesn't have to deal with it.
 
Best of success to you.

Lots of great advice from others in this thread. One thing that I would suggest is that you and your Dad have a conversation(s) about your near and long term roles in the business, equity ownership, division of labor, and an exit plan for him. This may be a difficult - but very necessary conversation.
 
Thanks everybody.

Dad and I have talked about my roles. Eventually I'll be in sales but I know that will be more of Sales/maintenance for machines/Managing website, social media/Keeping online store up to date/ etc.

Not sure if I mention this before. The whole infrastructure of the new location from the new machines, networking the computers, getting new computers, installing/planning/specing out the air system, bring on line over $200k worth of new machines came on me.
 
Good Luck Brother !! I work in a family business also (Dad started in 1979) with 2 family members and I have to say at times we get on each others nerves, but in the end we are still family and all is good.Enjoy your Dad while you can and take in all the knowledge he'll give you cause it will serve you well in the your future business career.
 
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Thanks everybody.

Dad and I have talked about my roles. Eventually I'll be in sales but I know that will be more of Sales/maintenance for machines/Managing website, social media/Keeping online store up to date/ etc.

Not sure if I mention this before. The whole infrastructure of the new location from the new machines, networking the computers, getting new computers, installing/planning/specing out the air system, bring on line over $200k worth of new machines came on me.


You are one lucky man. I would have given anything for the chance to work with my dad or to just talk to him again for a little while.
 
Thanks everyone. Figure I would give a update.

The work has been making the day go by fast. Been working in the fab shop to understand the weakness of work flow. This not limited to, website development, fixing hydraulic machines, new software tracking and a host of other small changes to just make things work better. So I'm wearing a lot of hats.

The industry is changing and have to keep evolving with it or go bust.

In process of landing my first big sale.
 
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