Hand over your business to someone to an outsider or should we give it to our family member? Who's reliable and what's beneficial?
Whoever you trust. If you trust the family person sure go ahead
That would be possible if the family member had some experience. In my case none of them have experience in handling a business. I trust them, but not in the task of managing the business😅. Thanks for your input.
Depends on the size and type of business. Who was managing it earlier ? What was the turnover? What is the type of business?
Size is of 30-35 people and it's a restaurant. I was managing it earlier but need to explore more opportunities so have to hand it over.
Experience matters only in knowledge jobs like medicine,law and construction. Any normal person if they continue a business, they can learn it in 3 years. 3 years is the threshold but they should be involved fulltime. A smart person will learn the ropess even in a year.
These business "Professionals" are overrated.
