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southern MN | So, I'm sitting here watching the new 'American Chopper' show, where Jr & Sr are arguing again...... For a week or so it seems, one fired the other. I know it;s TV, but it's a good example of family partnership...
Faimily is a bad deal for partnerships. They have a long, long history outside of business, and all those things come along into the buisness,w here they don't belong.
Often it is 2 different generations, where one is in wind down, protect mode, and the other is in startup, expand mode. Hard to do both those at the same time, one is cash poor, the other is labor poor, and still they don';t combine well to move in the same direction.
Business paertnerships, like lawyers, work better because home & family doesn't come into it, and often closer to the same generation, same goals. These partnerships are based on generating income with a fairly low & stable set of costs.
Farming is so terribly cash hungry, and based on ever expanding to 'keep up'. You live poor & amass assets,w hich you cash in as you retire.
Very difficult to get multiple generations to be able to work well with that.
And yet, more often than not, we do.
--->Paul | |
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Partnerships and families and getting along and etc
