NEED ADVISE: New inherited bussiness

Discussion in 'Growing and Managing a Business' started by jadski, Jan 7, 2012.

  1. jadski

    jadski
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    My father does tree work. He was working for a man named brad who had been doing tree work for 35+ years and was "the boss man" Well, Brad could never keep an employee because instead of investing money back into his company he spent it on himself resulting in very poor quality equipment and management. My Dad about had enough of it and was starting to look for another job. But we just received news that brad had passed away from an accident on the job and his family wanted to give the business to my dad. With this business the most important thing my dad received was the cliental of annual returning customers. My father has little experience running a business but him and I both have very high expectations for this opportunity that has almost been a god sent... I thought that the best course of action would be to start fixing and upgrading our equipment and machinery. After that we would want to be expanding our employees. Again my father and I have very little business experience and need a lot of advice from you more business savvy people. So please share all the advice you would like, it will be GREATLY appreciated. It would really mean a lot to me if I could get this post Stickyed to the top, my dad and I have lived a rough life and I'm thinking this may be our 1 and only break.
     
  2. James Greg

    James Greg
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    It may be termed as a miracle to have acquires a business out of nowhere. Has the business been handed to you legally? I mean with all the legal paper work done? If not first of all have it transferred to your ownership before you start investing heavily in the business because without it the heirs can take it back as it is legally in their ownership.
     

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