The Family Business Chronicles: Don't Screw It Up
The Family Business Chronicles: Season 3, Episode 1, “Just Don’t Screw It Up”
Forgive the episode reference. Life as we now know it has made me count my calendar days not by actual days of the week, but instead by either podcast or Netflix original series numbers.
I’m not anticipating this will be as binge-worthy as … The Queen’s Gambit or (hiding my face in shame) Bridgerton, but the family business does indeed offer its share of drama, eccentric characters, and the ultimate in reality writing.
Wondering why I have described this as Season 3? Looking back, my entry into the family business has been in three distinct parts.
Season One: Childhood. When you are the child of a family-owned business, the concept is somewhat opaque, yet pervasive. Wondering if you are the child member of a family business? Here is a sampling of questions to ask yourself:
1) While eating dessert after [insert major holiday here] dinner, has the family patriarch ever declared he is bringing the family Annual Meeting to order and proceeded to update you on a series of matters of which you have no idea what he’s talking about, yet everyone else appears to be listening intently?
2) Were you ever given random chores that were not at your own home, and likely involving painting, cleaning, landscaping, or if you were lucky, perhaps filling in at a reception desk?
3) Were you the recipient of odd subscription publications for your “future education”, such as, the Kiplinger Letter or the Wall Street Journal?
4) Did you go on a ‘vacation’ that involved being plunked by a hotel pool watching your siblings, while your parents attended seminars?
If any of these ring true, you just might be a child indoctrinated into The Family Business.
Season Two: A Benefit Recipient
These are the halcyon days of the family business for the ‘juniors’. These benefits vary widely based on situation, but in my case, this was the post-college period when I started to receive benefits of the family business, yet did none, natta, zilch of the work. The extent of participation was loosely reading the monthly financials. Despite lack of true effort, this corresponds with when I also started to have big ideas about how to do things better. The term ‘old school’ was increasingly used to describe everything the hard-working family ‘seniors’ were doing. Case in point - daughter says to Father: “File folders are so old school. Want me to set up a Dropbox?”
Season Three: The Queen Bee(s)
By the way of a pandemic-induced Zoom call, it was decided it was time for the former non-participatory juniors to get a bit (a lot) more participatory with all of my ‘ideas’, ‘tips’, and ‘considerations’.
And that is where the journey is about to begin.
That initial Zoom conversation was about 6 months ago (oh how we miss the post-holiday in person meetings), and with uncertainty about tax law changes and mutating viruses, we forged a path that brought us to the very anti-climactic milestone of … signing our names … a lot. My favorite (never mind only) sibling and I have officially embarked upon our own Family Business journey. Though my focus has admittedly switched from ideas, tips and considerations to, “Just Don’t Screw It Up”, I am optimistic that we will be able to at least get our Dropbox setup soon. For now, those old-school file folders are pretty easy to use.
Cheers,
WT