My dad has betrayed me. Should I walk?

Dear Aunty B,

I recently joined the small family business after a few years in the corporate world. I am now in my late 20s and it was understood my father would give me the business when I was 30.

However I have just found out that as his super and personal investments have taken a hit he now expects me to buy into the business.

I feel very betrayed. I love the business and can see its future but I will have to sink in more funds as he has been taking out a fair bit and it is not worth sinking in more money. If I had known this was the outcome I would not have left my cushy job!

LF

Dear LF,

The first thing you need to do is have a chat to your dad. This is not a heart to heart but a professional discussion about what both of you want. Why? It sounds like things have not been spelt out and documented which not only happens in family businesses but in any business. That leads to assumptions and misunderstandings that can then lead to events being blown out of proportion.

Don’t approach the discussion as a spoilt Gen Y who expects everything on a platter. The last thing you want is to throw your dad out on his arse because you feel you are entitled to the business because there is a bit of shared DNA. Your father built the business and has every right to do what he wants with it.

But you also have rights to work where you want and your father should have made his intentions clear to you.

The next thing is to get the facts. There are very good family consultants around who can professionalize the relationship and work on a plan. Alternatively get the business valued and then work out a payment plan.

But whatever you do, don’t let this sour father son/daughter relations! That is worth more than the business.

Good luck!
Your Aunty B