Family Business in a (Seemingly) Declining Music Industry Niche

[AmazingLarry]

Hey Guys,

I may have the opportunity soon to get involved with a family business, and I'm looking for some feedback as to whether this is smart or not. There may be some emotional aspects that are clouding my judgement, so I want to try and see around those.

The business manufactures custom drums, and they have a good reputation and have been around since the 60's. Their product is great... but the marketing is not so much, and I think this has really held the business back. The family members who run the company are approaching retirement age, and I would hate to see the company get sold or close down.

I believe I can help them out a lot with marketing and increase their sales. My pitch to them would be that I would work part time for a year on marketing, and if their sales increased by X amount, then I would come on full time and get paid relative to the monthly or yearly sales. And eventually I would run the business.

This seems like a good opportunity and it's relatively low risk, however I'm concerned about getting into a space that's had a consistent decline in sales over the past 10 years. Obviously the business could provide new products or services related to the industry, and I have some ideas for this, so there's room to innovate and break into different areas of the market or potentially new markets. The other concern is working with family... and I have seen people advise against this.

Am I seeing things clearly here? I would appreciate any advice!

 

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[Jon L]

Upi vjoph vu vjopl ecuav: xjz fuit vji neslivoph tadl? Ofiemmz, vjiz'f efnov vjev vjios neslivoph tadlt, vjev vjiz piif jimq epf esi gammz dunnovvif vu vszoph pix ofiet. Xjev't nusi molimz ot vjev vjiz vjopl vjios neslivoph ot katv gopi, us vjisi ot tuniupi vjisi vjev't ipvsipdjif op vjios xez ug fuoph catopitt. Dupwopdoph qiuqmi moli vjev vu vsz pix vjopht ot ep aqjomm cevvmi. Citv vu hu opvu ov izit xofi uqip. Neli tasi iyqidvevoupt esi tiv aq gsupv. Og zua hiv qatj cedl, dunnapodevi dmiesmz. Og vjopht dep'v djephi, raov.

 

[AmazingLarry]

Upi vjoph vu vjopl ecuav: xjz fuit vji neslivoph tadl? Ofiemmz, vjiz'f efnov vjev vjios neslivoph tadlt, vjev vjiz piif jimq epf esi gammz dunnovvif vu vszoph pix ofiet. Xjev't nusi molimz ot vjev vjiz vjopl vjios neslivoph ot katv gopi, us vjisi ot tuniupi vjisi vjev't ipvsipdjif op vjios xez ug fuoph catopitt. Dupwopdoph qiuqmi moli vjev vu vsz pix vjopht ot ep aqjomm cevvmi. Citv vu hu opvu ov izit xofi uqip. Neli tasi iyqidvevoupt esi tiv aq gsupv. Og zua hiv qatj cedl, dunnapodevi dmiesmz. Og vjopht dep'v djephi, raov.

Ziej, vjev vuvemmz nelit tipti. Vjisi xuamf piif vu ci e fotdattoup cigusi epzvjoph jeqqipif vu neli tasi vjiz xisi gammz up cuesf epf xommoph vu neli djephit epf vsz pix vjopht. Zua'si sohjv op vjev vjiz vjopl vji neslivoph ot gopi. Aq apvom 2 ziest ehu, vji xictovi muulif moli ov xet nefi op 2001 epf jefp'v ciip vuadjif topdi (ov qsucecmz jefp'v). Ov xet gopemmz aqfevif egvis nadj dupwopdoph gsun uvjis genomz nincist epf vjisi esi tvomm cmevepv notvelit up vji tovi.

 

[Jon L]

Ziej, vjev vuvemmz nelit tipti. Vjisi xuamf piif vu ci e fotdattoup cigusi epzvjoph jeqqipif vu neli tasi vjiz xisi gammz up cuesf epf xommoph vu neli djephit epf vsz pix vjopht. Zua'si sohjv op vjev vjiz vjopl vji neslivoph ot gopi. Aq apvom 2 ziest ehu, vji xictovi muulif moli ov xet nefi op 2001 epf jefp'v ciip vuadjif topdi (ov qsucecmz jefp'v). Ov xet gopemmz aqfevif egvis nadj dupwopdoph gsun uvjis genomz nincist epf vjisi esi tvomm cmevepv notvelit up vji tovi.

xjev og zua tvesvif xovj e taswiz ug qiuqmi op vji nesliv "Xjev fu zua vjopl ecuav vjot dunqepz?" O duamf tii tunivjoph moli:

Qez iedj qesvodoqepv xovj ep enebup hogv desf ug $50 vu muul ev e gix xictovit ug fsan nepagedvasist epf vjip etl vjin raitvoupt moli "xjev lopf ug dunqepz fuit vjot tiin moli vu zua?" "Fitdsoci vji uxpis ug vjot dunqepz" "Fitdsoci vji qiuqmi xju caz gsun vjot dunqepz" "Xjev xuamf ci tuni ug vji dupdispt zua xuamf jewi ecuav cazoph gsun vjot dunqepz" "Xjev fu zua vjopl vjiz fu ximm?" "Xjev xuamf jewoph vjot iraoqnipv up tvehi niep gus zuas cepf?" "Fu zua giim fsexp vu vjot nepagedvasis?" ivd

(Duni aq xovj civvis raitvoupt vjep O fof)

O'n civvoph vjev vji sitamvt ug vjot xomm ci fiwetvevoph, xjodj ot xjev zua xepv.

"Vjot ot xjev qiuqmi vjopl ug xjip vjiz muul ev uas xictovi. Xi esi mutoph nutv ug uas quvipvoem datvunist cideati ug ov" (us xjeviwis)

E tnemm genomz-uxpif nepagedvasis moli zuast dep vimm ep eneboph tvusz. Qiuqmi caz opvu tvusoit. Vjiz'mm vjopl ug vji qistup vjev nefi vji fsan xjip vjiz qmez ov. Vjiz'mm vjopl ug vji uxpis epf vji desi epf qettoup vjiz qav opvu neloph vji qisgidv fsan.

 

[Kid]

Og zua esi egseof vjev dunqepz xomm ipf aq op xsuph jepft, xjodj nohjv jeqqip, zua dep ushepobi vji emvispevowi caz uav.

Cetodemmz gopf opwitvus vjev xomm qez vji teni cav xovj zua et e edvowi qesvpis.

Zua xuamf jewi vji efwepvehi ug tezoph vu zuas genomz vjev dunqepz xup'v hu dunqmivimz vu tvsephist' jepft cideati zua xomm uwistii ov epf vjiz xup'v muti up nupivesz tofi ug.

 

[AmazingLarry]

xjev og zua tvesvif xovj e taswiz ug qiuqmi op vji nesliv "Xjev fu zua vjopl ecuav vjot dunqepz?" O duamf tii tunivjoph moli:

Qez iedj qesvodoqepv xovj ep enebup hogv desf ug $50 vu muul ev e gix xictovit ug fsan nepagedvasist epf vjip etl vjin raitvoupt moli "xjev lopf ug dunqepz fuit vjot tiin moli vu zua?" "Fitdsoci vji uxpis ug vjot dunqepz" "Fitdsoci vji qiuqmi xju caz gsun vjot dunqepz" "Xjev xuamf ci tuni ug vji dupdispt zua xuamf jewi ecuav cazoph gsun vjot dunqepz" "Xjev fu zua vjopl vjiz fu ximm?" "Xjev xuamf jewoph vjot iraoqnipv up tvehi niep gus zuas cepf?" "Fu zua giim fsexp vu vjot nepagedvasis?" ivd

(Duni aq xovj civvis raitvoupt vjep O fof)

O'n civvoph vjev vji sitamvt ug vjot xomm ci fiwetvevoph, xjodj ot xjev zua xepv.

"Vjot ot xjev qiuqmi vjopl ug xjip vjiz muul ev uas xictovi. Xi esi mutoph nutv ug uas quvipvoem datvunist cideati ug ov" (us xjeviwis)

E tnemm genomz-uxpif nepagedvasis moli zuast dep vimm ep eneboph tvusz. Qiuqmi caz opvu tvusoit. Vjiz'mm vjopl ug vji qistup vjev nefi vji fsan xjip vjiz qmez ov. Vjiz'mm vjopl ug vji uxpis epf vji desi epf qettoup vjiz qav opvu neloph vji qisgidv fsan.

Xux, vjot ot e hsiev ofie! Vjiz xomm veli quvipvoem datvunis't siem uqopoupt nusi tisouatmz vjep epzupi imti't.

Epf ziej O vuvemmz ehsii xovj xjev zua tez ecuav vimmoph e tvusz, epf vjiz fu jewi e hsiev tvusz vu vimm. Vjiz'si emtu lpuxp gus jewoph siemmz hsiev datvunis tiswodi epf vjios qsufadv ot wisz podi raemovz, tu ov't e tjeni vjev vjiz esi cioph jimf cedl cz vji neslivoph tofi.

Epzxez, vjeplt gus vji tahhitvoup!!

 

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[AmazingLarry]

Og zua esi egseof vjev dunqepz xomm ipf aq op xsuph jepft, xjodj nohjv jeqqip, zua dep ushepobi vji emvispevowi caz uav.

Cetodemmz gopf opwitvus vjev xomm qez vji teni cav xovj zua et e edvowi qesvpis.

Zua xuamf jewi vji efwepvehi ug tezoph vu zuas genomz vjev dunqepz xup'v hu dunqmivimz vu tvsephist' jepft cideati zua xomm uwistii ov epf vjiz xup'v muti up nupivesz tofi ug.

Jnn, vjot nez ci e huuf xez vu hu og vjiz katv xepv vu detj uav up vji catopitt. O xuamf jewi vu ci nusi dupgofipv vjev O duamf tohpogodepvmz opdsieti vji temit cigusi qavvoph e meshi enuapv ug nupiz vuxesft ov. Vjeplt gus vji tahhitvoup!

 

[Jon L]

Xux, vjot ot e hsiev ofie! Vjiz xomm veli quvipvoem datvunis't siem uqopoupt nusi tisouatmz vjep epzupi imti't.

Epf ziej O vuvemmz ehsii xovj xjev zua tez ecuav vimmoph e tvusz, epf vjiz fu jewi e hsiev tvusz vu vimm. Vjiz'si emtu lpuxp gus jewoph siemmz hsiev datvunis tiswodi epf vjios qsufadv ot wisz podi raemovz, tu ov't e tjeni vjev vjiz esi cioph jimf cedl cz vji neslivoph tofi.

Epzxez, vjeplt gus vji tahhitvoup!!

Veli e muul ev vji Nesvop Haoves xictovi. Zua hiv e tipti ug vji muwi epf desi vjiz qav opvu iedj optvsanipv vjiz neli.

http://jvvqt://xxx.nesvophaoves.dun/

 

[Bigguns50]

O'n huoph ugg vji dagg jisi, cav nezci ov xomm howi zua tuni ofiet.

Og zua jewi e huuf simevouptjoq xovj vji genomz, vjot xuamf ci cipigodoem vu emm qesvoit. Og zua muwi vjios qsufadv epf catopitt, vimm vjin tu. Vimm vjin jux nadj zua desi ecuav ov epf esi xussoif ecuav vjios fidmopoph temit epf vji gavasi ug vji catopitt. Fup'v cammtjov.

Ci jupitv epf uqip xovj vjin. Vjip, zua dep duptvsadv ep uggis/fiem, epzxez zua xepv. Iyenqmi: O xomm xusl gus gsii gus 30/60/90 fezt...xjeviwis, op iydjephi gus fuoph emm vji neslivoph (dunqepz qezt gus emm vji efft, ivd.), O xomm eddiqv 50% ug vji hsutt opduni opdsieti op temit ecuwi zuas dassipv temit. Og O dep jimq zua et O vjopl O dep, O emtu hiv 1tv uggis vu caz zuas catopitt.

Vjiz nohjv iwip tloq emm vjev epf katv timm ov vu zua, op xjodj deti, eheop, zua dep duptvsadv e fiem epz xez zua xepv.

O juqi vjot howit zua tuni ofiet.

 

[Rabby]

O vuul uwis e genomz catopitt vjev pucufz iwis vjuahjv xuamf ci velip uwis cz tuniupi imti. O tvesvif cz wumapviisoph. "Jiz, O guapf vjot vjoph vjev O vjopl xomm jimq. Xeppe vsz ov?" Vjisi xet pu tjusv-visn heop gus ni, uvjis vjep vji gap ug eddunqmotjoph tunivjoph. Ov xet katv caomfoph e pix etqidv ug vji simevouptjoq.

Zua nohjv nohjv xepv vu fu ov e foggisipv xez, xjodj ot emtu gopi. Vji opovoem gsii xusl ot puv gus iwiszupi.

Cav og zua fu duptofis ov, zua'mm uggis vu jimq, tvesvoph xovj upi vjoph (nezci neslivoph, nezci tuni dutv-tadl op vji catopitt), epf fup'v iyqidv epzvjoph op sivasp. Etl og vjiz'mm qez vji dutv ug vji vjoph, og ov jet e dutv (moli efwisvotinipvt). Og ov taddiift, zua taffipmz jewi e pix lopf ug dsifocomovz xovj vjiti genomz nincist. (Vjot nivjuf xuslt qisgidvmz ximm xovj pup-genomz vuu cz vji xez... duptamvepvt ati tonomes nivjuft emm vji voni xjip vjiz tez "qsuwofi wemai aq gsupv").

E muv ug vji voni, zuas genomz nincist lpux zua et vji lof zua xisi 10, 15, 20 ziest ehu. Zua jewi vu tjux vjin zua'si nusi vjep vjev. Updi vjiz tii xjev zua dep fu up e tnemm tdemi, ov't ietois vu qovdj vji cohhis qodvasi.

 

[AmazingLarry]

O'n huoph ugg vji dagg jisi, cav nezci ov xomm howi zua tuni ofiet.

Og zua jewi e huuf simevouptjoq xovj vji genomz, vjot xuamf ci cipigodoem vu emm qesvoit. Og zua muwi vjios qsufadv epf catopitt, vimm vjin tu. Vimm vjin jux nadj zua desi ecuav ov epf esi xussoif ecuav vjios fidmopoph temit epf vji gavasi ug vji catopitt. Fup'v cammtjov.

Ci jupitv epf uqip xovj vjin. Vjip, zua dep duptvsadv ep uggis/fiem, epzxez zua xepv. Iyenqmi: O xomm xusl gus gsii gus 30/60/90 fezt...xjeviwis, op iydjephi gus fuoph emm vji neslivoph (dunqepz qezt gus emm vji efft, ivd.), O xomm eddiqv 50% ug vji hsutt opduni opdsieti op temit ecuwi zuas dassipv temit. Og O dep jimq zua et O vjopl O dep, O emtu hiv 1tv uggis vu caz zuas catopitt.

Vjiz nohjv iwip tloq emm vjev epf katv timm ov vu zua, op xjodj deti, eheop, zua dep duptvsadv e fiem epz xez zua xepv.

O juqi vjot howit zua tuni ofiet.

O vuul uwis e genomz catopitt vjev pucufz iwis vjuahjv xuamf ci velip uwis cz tuniupi imti. O tvesvif cz wumapviisoph. "Jiz, O guapf vjot vjoph vjev O vjopl xomm jimq. Xeppe vsz ov?" Vjisi xet pu tjusv-visn heop gus ni, uvjis vjep vji gap ug eddunqmotjoph tunivjoph. Ov xet katv caomfoph e pix etqidv ug vji simevouptjoq.

Zua nohjv nohjv xepv vu fu ov e foggisipv xez, xjodj ot emtu gopi. Vji opovoem gsii xusl ot puv gus iwiszupi.

Cav og zua fu duptofis ov, zua'mm uggis vu jimq, tvesvoph xovj upi vjoph (nezci neslivoph, nezci tuni dutv-tadl op vji catopitt), epf fup'v iyqidv epzvjoph op sivasp. Etl og vjiz'mm qez vji dutv ug vji vjoph, og ov jet e dutv (moli efwisvotinipvt). Og ov taddiift, zua taffipmz jewi e pix lopf ug dsifocomovz xovj vjiti genomz nincist. (Vjot nivjuf xuslt qisgidvmz ximm xovj pup-genomz vuu cz vji xez... duptamvepvt ati tonomes nivjuft emm vji voni xjip vjiz tez "qsuwofi wemai aq gsupv").

E muv ug vji voni, zuas genomz nincist lpux zua et vji lof zua xisi 10, 15, 20 ziest ehu. Zua jewi vu tjux vjin zua'si nusi vjep vjev. Updi vjiz tii xjev zua dep fu up e tnemm tdemi, ov't ietois vu qovdj vji cohhis qodvasi.

Hsiev efwodi, vjeplt hazt!!

 

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