I had a business owner tell me the other day that she thought her son (now 14) would be a good fit for taking over the business.
I’m still not sure what I want to be when I grow up, and can’t imagine the pressure of having that decision made for me at age 14, by someone else. Are you really doing your kids a favor?
Daughter: “Daddy, why do other kids get to make their own career choices?”
Dad: “Because their fathers didn’t start their own business, honey.”
Daughter: “But I don’t want to be a _________ (fill in the blank).”
Dad: “You’re so silly. Now pass daddy that invoice.”
If you have plans for your kids where they become your business exit, take a few minutes to listen as David C Barnett talks about one son’s struggle to deal with his dad’s plans for him to buy the business.