Taking over the family business

I'm 24 and I'm taking over our small family business with 2 employees (me and my mother) that brings in around 65.000 EUR per year, with a steady grow of 10% for the past 2 years. The company's main fields are property management 70% and real estate sales 30%. I've been working in the company with my mother for 4 years now and we're splitting the amount of work, so I take over the whole property management part and she takes over the real estate part. We agreed on the fixed salary for her that's 1000 EUR + 50% of every property sale.

I get a war chest of about 5.000 EUR that is mostly going to be used on marketing and growing the company (offices were renewed in 2015 with office equipment).

The first thing I'm doing is updating the business plan from 2008 and lowering the unnecessary expenses.

I'm mostly scared of what is going to happen and if everything's going to be ok, because I am capable of doing this but on the other hand I don't want to be the one who screws up the company. I would be grateful for any tips from you guys.

Tl;dr: I'm taking over the family business and I'm looking for some tips from you guys.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s