Breaking away from family company

[drstetson]

That might be a pyrrhic victory. Owning your own business isn't necessarily all rainbows and unicorns. But I think my biggest concern was to not poach my family clients. I'd want to get my own clients and not compete directly with the family.

We are all members of the same AMCs. I don’t see how I’d be directly competing with anyone.

 

[Fernando]

We are all members of the same AMCs. I don’t see how I’d be directly competing with anyone.

Being in family business has some benefits.
I work alone and when I need help, I go on AF and have to tolerate the insults.

 

[Raven59]

I’ve experienced all three setups: working solo, in a family business, and with a group. Each has its unique ups and downs.

When I worked solo, I loved having complete control over my business decisions and schedule. Keeping all the profits was great, but it did get lonely, especially with tricky assignments. I had to juggle everything myself, from admin tasks to marketing.

Sharing resources and leveraging our established reputation made things smoother in the family business. The built-in support from family members was invaluable. However, family dynamics sometimes led to conflicts, and sharing profits and decision-making meant I didn’t have as much control.

Working with a group of other appraisers was a mixed bag, too. The collaboration and shared expertise were fantastic, and we had access to better tools and broader knowledge. Networking opportunities were a plus. However, group decisions took longer, profits were split, and differing goals sometimes caused friction.

Ultimately, each setup has its benefits. Your choice should depend on your long-term goals, whether you value independence or collaboration, and what support systems you need. It’s about finding the right balance that aligns with your personal and professional aspirations.

 

[Raven59]

I made the most money solo but my ability to diversify was significantly hampered.

I had the greatest security and flexibility with family but it also came with headaches.

I had the greatest professional growth and exposure to work diversity in a group. However, egos and drama were always present.

 

[drstetson]

I made the most money solo but my ability to diversify was significantly hampered.

I had the greatest security and flexibility with family but it also came with headaches.

I had the greatest professional growth and exposure to work diversity in a group. However, egos and drama were always present.

Thank you, I’m at a point where I’d welcome the challenges of being on my own.

 

[Fernando]

I made the most money solo but my ability to diversify was significantly hampered.

I made most money solo and had flexibility to take care of kids (bringing them with me to appraisals).

I had the greatest security and flexibility with family but it also came with headaches.

I had the greatest professional growth and exposure to work diversity in a group. However, egos and drama were always present.

Greatest security working at bank but the office politics was ridiculous. Coworkers may be nice but stabbed me in the back.

 

[Tom D]

my experience is aggravation, or lack of aggravation, and the amount money made by year end. the amount of money you make can make you accept more aggravation, or none at all. it's always money and what i have to do to be where i want to be. as a sole owner you have the opportunity to make a lot of money, or die from a heart attack. i could only work for myself, not a company man.