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Wealthy Guys Who Do a Good Job - Did They all Work Their Way Up?

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suladas

Senior Member
Joined
Jun 30, 2016
Messages
1,731
Location
Canada
A lot just seems to depend on the kids. Friends dad started business back in the 80's, 3 sons 1 has no interest and never worked more then the summers in high school, one has pretty much taken it over now, and the last one worked on and off a bit but is pretty much a deadbeat. He had a partner in the business, his partner fired his kid, he hired him back only to fire him pretty quickly, then the kid went to work for his competition, and at some point convinced his dad to give him yet another chance that didn't last long. I don't get it, you've got a long leash being the owners son and it's not a hard job to begin with, the hardest part is showing up on time which he couldn't do. He's done pretty well for himself bought out his partner years ago and pretty much been retired for the last 10 years and isn't hurting money wise. Getting bigger isn't always better though, they opened up offices in 2 other places, one didn't last a year before closed it because they got spanked by the competition, other lasted a bit but slowdown ending up closing it after a few years. A lot of times if you got a good thing going, why mess with it?
 
aighead

aighead

Senior Member
Joined
Apr 25, 2019
Messages
2,567
Location
Dayton, OH
Mine is kind of a different perspective... I work for one of the most well known brands on the planet, that literally everyone has heard of and likely touched at some point. I'm in a small division that does something pretty weird/unique. I don't know if I'd call him wealthy but the President of our division, VP of the company, started as an engineering intern and worked his way up. There is huge value, that I'm not sure the company realizes, in actually knowing how our products work and his rise seems like it makes sense.
 
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Welder Dave

Senior Member
Joined
Oct 11, 2014
Messages
12,547
Location
Canada
My dad was always of the thinking if you can make a good living you're doing good. Get too big and the economy tanks you're in trouble. If I ever worked for.my dad I would do my best to make him proud of me. He was the most respected in his industry. Why some kids run a family business into the ground is beyond me?? Maybe too many years of being spoiled and not knowing where the money comes from. I like the idea kids have to work a regular job for several years before they join the family business.
 
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Welder Dave

Senior Member
Joined
Oct 11, 2014
Messages
12,547
Location
Canada
Some kids even go to college or take courses so they can help in the family business. It's kind of a crap shoot. Former neighbors son showed up in his Corvette to pay back wages to employee's on a big job that turned into mess. Not hard to figure who got paid 1st and probably a lot more for less work.My dads mechanic often made more than my dad. Money from the business went back into the business not into anyone's pocket. Kind of like saving for a rainy day.
 
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