Concern for sister’s startup

[jjp297]

@thomashop They are encouraging her, let them help. It's their situation, not yours. If asked directly give your opinion. Otherwise leave it be.

Your mom wants to do the accounting? Sure. Your sister could otherwise hire an accountant like many do.

What is the worst that can happen?

 

[brianhjpr]

@thomashop

I guess im looking for advice on how to approach this nicely and respectfully with my sister and parents about my concerns. Or any advice I can give my sister about starting her own small business or expectations for the first few years would be greatly appreciated.

Sure! Don't say anything bad and try your best to help your family. You obviously have zero experience in that business environment, so your feedback is not really helpful unless it's practical experience learned during work. If you make enemies with your family now and the business succeeds, you will be excluded. Realistically speaking, you contributing will dramatically improve the odds for success, so going into this with a negative attitude would be the wrong move.

I don't like the plan that others are describing of basically: Just ignore the whole thing. Family and business either works very well, or it works very poorly, and rarely is there a middle ground. If it goes poorly you need to just behave like an adult and let them know that it's clearly not going well and you're going to reduce your involvement because "you are in the way."

 

[buckeye_momof4]

@thomashop I would openly wish your sister well, let her know your rooting for her success and keep a distance.

Your relationship with your sister And parents depend on this.

The only 'nugget' worth dropping on her as a 'suggestion' is the SBA Mentor program. It's free. Your sister would be matched up with a business owner in the community who will provide her mentorship.

 

[thomashop]

@buckeye_momof4 Thank you I like that advice a lot! The city she’s opening in has many small businesses and they do work together to help each other out. I will suggest that for sure.

 

[buckeye_momof4]

@thomashop You're welcome.

I'm rooting for her success too.

 

[abrahamscaria]

@thomashop You're not involved and you have no experience and youre too busy to become involved but you know better?

 

[lekolonka]

@thomashop You can give advice if asked, it’s not your kid or place to intercede if your help isn’t wanted. They are all adults and can make their own decisions.

I tend to agree that it’s a bad idea but we’re only getting your perspective, but if she’s talented experience might not matter as much as you think. After all people with 40 years experience probably aren’t staying up with the latest trends.

Also renting a chair is not usually a mentorship role. It’s just a business transaction barbers and beauticians that don’t have the capital to rent their own shop rent a chair. Sure they probably trade tips and tricks but it’s not part of the deal per se.

 

[anederson]

@thomashop A start up is always a concern. No need for you to worry about it though. She has a support system that seems to be filling in roles that are needed and that is awesome. She isn't trying to reinvent the wheel either, she is cutting hair, there will never not be a need for her services.

I would advise you to support her. She is trying to do something, get behind her instead of being scared for her.

 

[mikesmiles]

@thomashop It sounds like they're determined to do it, so I would suggest they approach existing salons about a takeover and redecoration rather than sink a pile of money into a fitup for a brand-new salon.

Google salon for sale (your area) and see if anything promising comes up.

 

[divide]

@thomashop Not your shark not your aquarium.

 

[kevin500]

@thomashop It sounds like maybe your parents are interested in starting and running the business? Would it be more of a partnership?

 

[cph]

@thomashop I’m in the middle of starting my own business right now, and I will say, there is a lot that goes into it that I wasn’t fully prepared for and I have been in the space for over 10 years with management experience and an accounting degree. I would recommend that your sister and parents take a step back and ask themselves if this is the right move. Talk to a SCORE mentor, they are a nonprofit organization made up of business owners that can help them see the hurdles along the way. Also talk to the SBA as well, once again they can help them see if this is the right choice.

 

[rambles17]

@thomashop There’s no way to learn other than to dive in! It’s awesome she’s taken initiative. In my experience the younger you start entrepreneurship the easier it is. And failure isn’t the end of the world!

Since you are expressing concern and would like to see her succeed, I would try to giver her as many tools as you can for success. Show her you believe in her.

My advice would be to engage in the community so she has sources to ask for help. This would mean to know what the standard are for creating websites, salon software, accounting methods, etc.. Then make sure she engages with the physical community she is in - participate in local events, partner with other local small businesses. This will help her get the word out, create accountability and have people to ask for help. Finally, leverage her age with content creation and trends!

 

[linhlinh9988]

@rambles17 Hmm

 

[rambles17]

Not a bot, but I do have a degree in robotics and AI and with startups. But thanks for the compliment on my writing.

 

[louisianaclark]

@rambles17 ChatGPT is giving terrible advice. This is a horrible idea OP. It will 100% fail in this situation. Please try to knock some sense into your parents. Best of luck.

 

[maryellalong]

@louisianaclark Agreed, that's got to be a bot post. Account has been inactive for two years and only has a handful of now removed crypto posts? The layout, tone, amount of buzzwords, all very suspicious.

Good catch.

 

[richardparker]

@thomashop

Concern for sister’s startup.

My parents are encouraging my sister to open up her own salon

Startup ?

It's a hair salon

 

[thomashop]

@richardparker So grateful for you. /s