A very successful businessman had a meeting with his son. "I'm making you a 50-50 partner in my business. All you have to do is go to the factory every day and learn the operations."
The son interrupted, "I hate factories. I can't stand the noise."
"I see," replied the father. "Well, then you'll work in the office and take charge of some of the operations."
"I hate office work," said the son. "I can't stand being stuck behind a desk all day."
"Wait a minute," said the father. "I just made you half-owner of a moneymaking organisation, but you don't like factories and won't work in an office.
What am I going to do with you?"
"Easy," said the young man. "Buy me out."
For more stories about the trials & tribulations involved in Family Business, come along to the ISME Annual Conference.
Lynn Temple, Alan Crosbie & Anne O'Dwyer will share their experiences of the joys and sheer doggedness of family business and the different ways of planning intergenerational transfers.