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Business News Blog
Business News Blog posts insightful comments on the latest international news that render us taken-aback in the domain of the business facet of life. Business News Blog: Family-Business News The right time for young adults to take over the family business - Wait to Work for Family: August 5, 2008 by EMILY GREEN
Experts report that young people, fresh out of college, who are fortunate enough to have a family business they can join should wait to jump in. Young adults should wait until their late 20s or early 30s to become active in their family's business because by then they will have established their long-term goals and be more confident in their decision-making abilities. Young adults lucky enough to have a family business waiting for them may feel tempted -- or pressured -- to join it right out of college. But that's often not the best move, family-business experts say. John Davis, faculty chair of Harvard Business School's family-business program, suggests individuals delay the decision to enter the business until their late 20s or even their 30s if possible. Young adults don't always have their long-term goals figured out, and it can be hard to get out of it once you join. By your late 20s or 30s, he says, "you tend to know more about yourself, about what you like, what you don't like." Many young adults feel pressured by their parents or by external factors, such as the shaky economy. But remember "you are making a long-term decision," Mr. Davis adds. You'll bring more to the business by first getting outside work experience. Meanwhile, if you don't think you're interested in it, keep in mind that your views could change in the coming years. Justman Myers, 25, thought he would never join his family's flooring business and instead pursued a career in broadcast journalism. But the Dalton, Ga., native became disenchanted with journalism after working two TV news jobs and took what he thought would be a short-term job with his uncle's flooring store in Nashville, Tenn. He found he enjoyed the job -- and also appreciated the chance to make more money than in journalism -- and now has no plans to leave. Business News Blog Comment:
I had a friend from a joint family with a roaring family business who was an academic genius in his school and college life, his name always appearing in the national merit lists. After graduation he wrote his civil services exam. He was not selected in the main administrative category and got a posting in the police services, which he declined to join. Then he took admission in National School of Drama in a three-year diploma course but left it after the first year was over. He embarked on a new business now starting it from scratch in partnership with one of his old time school friend from a business family now. The business went flop. By this time he was already around 30 years in age. Now he decided to join his family business, diversifying it in a new direction along. The new direction turned an instant hit; and from that day on he never looked back. Today after 30 years of starting his contribution he has taken his family business to the billion-dollar league. Now this is another matter that not a single person from his family is there in that billion dollar family business any more. They all are staunch enemies of one another always keeping gunmen for their security along. Anyone of them can kill anyone else any day... Business news is always a violent news, I ever heard! Here is The Super Mind Evolution System that claims to change your personal life, so if you feel the system is good too - like I do - it may be a humble beginning in the direction of changing the way we live! Just watch this video to check for yourself:
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