The Woes of a Family Business

,
#1

I was planning to write an autopsy of our family business. It is on the verge of collapse and what I was planning on saying to try and advise others, while also just figuring out my thoughts, was conveniently put to words by Tiaan’s article on MoneyWeb.

In short, for just about all the reasons in the article above, we had to retrench all staff and the company will be dormant as of tomorrow, while we try and recoup some of the outstanding moneys owed to us. I will remain on at the company, unpaid, to work on these projects, and that cash will then be used as capital to start new projects.

In the meantime I have sleepless nights, endless headaches, mood swings aimed at friends and family, and just pretty much the lowest I have been in my life. Saying that, when I take stock, I am still super lucky.

I have a wonderful wife who is way smarter than me (and earning enough for us not to worry TOO much). But, there is a pride and responsibility for a husband to care for his family.

My kids are both healthy and sharp, and the nuggets they randomly come up with will crack the hardest nut with joy! For example, i was pretending to be a mosquito and nibbled my 7 year old’s leg while saying “I wish I was a mozzie!”. “But then you wont be my super dad!” was the response! :heart:

I have a strong church family that supports and encourages.

And I have friends here that I have never met but feel super lucky to know. I often lurk in the shadows, but read all the encouragement, support and just plain solid advice.

So I hope to give some updates here and kind of use it as a blog. I might go into some more detail on what is happening and what I am doing, but for now, thanks for letting me share.

11 Likes
#2

Thanks for the update Oltman, I’ve been thinking of how things have been going for you since you mentioned that the business will be closing.

Grateful for the provision you have, financially, relationally and spiritually. It makes all the difference as you seek direction for the future.

We must have a chat over discord sometime!

3 Likes
#3

Fortunate, not lucky.

3 Likes
#4

Sorry to see that @oltman . May it only get better from here.

4 Likes
#5

Sorry to hear that @oltman , i have faith that you will bounce back even stronger :muscle:

3 Likes
#6

Indeed, the better word!

Thanks everyone! :hugs:

5 Likes
#7

Hope you come right @oltman

You’ve got a positive attitude which will fare well for you.

3 Likes
#8

This really sucks, and using the term post-mortem for closing a business is completely appropriate - it is like a death in the family. From a business perspective its important to understand what went wrong so that the risks can be mitigated next time around, but from a personal point of view, its also important to grieve and process those feelings. We spend so much time working and thinking of work that it all takes up a massive fraction of our lives - at least in part, our jobs are part of our identities.

As always, you’ve got our numbers if you want to talk.

3 Likes