For those who had a career before owning a business, we all have worked in places where nepotism was present. Son of the owner/founder is Exec VP, recent college grad daughter got a shoe in job at a big consulting firm because dad is a partner, brother of the owner coasts on a easy six figure salary. As a young employee I used to be like "man F' that guy! he's only in that position because of his dad!" On the outside this is most peoples view on nepotism.
But not every nepo hire is a terrible hire where spoiled brat son just mooches off daddys success. I know a guy that took over his dads Govt Contracting business and scaled it from 6 figures to 9 figures. His dad was moreso the owner/operator where son focused on scaling as an owner and going after more business vs spending time working in the business. There are nepo hires that work EXTREMELY hard.
As a dad and business owner, I'd love to be in a position to pass down my business to my children....if they work hard to keep it going, scale it, and not just expect it to be a free ride to an easy life. As parents we'd do anything to give a better life to our children. It'd be a dream to see my children scale my business way beyond what I built. But I know that's rare and I'd probably be better off selling my business than risking one of my children tanking it. As fellow business owners what is your take on nepotism?
But not every nepo hire is a terrible hire where spoiled brat son just mooches off daddys success. I know a guy that took over his dads Govt Contracting business and scaled it from 6 figures to 9 figures. His dad was moreso the owner/operator where son focused on scaling as an owner and going after more business vs spending time working in the business. There are nepo hires that work EXTREMELY hard.
As a dad and business owner, I'd love to be in a position to pass down my business to my children....if they work hard to keep it going, scale it, and not just expect it to be a free ride to an easy life. As parents we'd do anything to give a better life to our children. It'd be a dream to see my children scale my business way beyond what I built. But I know that's rare and I'd probably be better off selling my business than risking one of my children tanking it. As fellow business owners what is your take on nepotism?