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Author Topic: non sound related question  (Read 2909 times)

Kevin Conlon

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non sound related question
« on: January 06, 2018, 07:40:31 pm »

I am having a life problem right now. The guy i work with is about to die of cancer very soon. We build race motorcycles and do general repairs, it is just us. Everyone wants me to keep the shop going and i have been on my own before so i know what to expect. The reason for this post is to ask people i do not know for opinions. Part of me says do it, part says get a real job. The customer base exists and is strong but the performance part, for the most part, dies with Dan. Anyone been through this? what were your deciding factors? The shop will take a different direction with me but some things, like headwork, will have to be farmed out. I also don't know any qualified mechanics. You have to watch over the shoulder of the ones i know and i don't have time for that. I do have competent help for tires and simple things. I do not have the luxury of a front counter and a pretty face keeping me away from customers, when you walk in you are in the shop. That means drop what your doing and talk. Also the phone rings off the hook in busy season, i used to use a headset so i can work and talk. That's the thing that sucks most when it is busy, more work gets done after you lock the door. I am getting old for 70 hour weeks. Sorry for the long post, i needed to vent some. Would one of you flip a coin for me please? Heads i stay, tails i go to work at lowes or something. On the plus side i would have a tax number to maybe sell sound gear. HELP. Thank you,  Kevin.
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Bradford "BJ" James

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Re: non sound related question
« Reply #1 on: January 06, 2018, 08:20:36 pm »

This is the wrong time to be making life changing decisions. Deal with your partners illness right now and come back to this with a clear head in a month or so. Customers will wait, and itís slow season for bikes anyways.
« Last Edit: January 07, 2018, 10:35:28 am by Bradford "BJ" James »
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Craig Leerman

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Re: non sound related question
« Reply #2 on: January 06, 2018, 10:19:48 pm »

I would say if you like bikes and would be making money, then stay but if it would just be a job, then decide if it pays enough. 

People should always do what they love if they can. Nobody will fault you if the business morphs into something a bit different with Dan gone.   
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Keith Broughton

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Re: non sound related question
« Reply #3 on: January 07, 2018, 06:25:27 am »

This is the wrong time to be making like changing decisions. Deal with your partners illness right now and come back to this with a clear head in a month or so. Customers will wait, and itís slow season for bikes anyways.
This is good advice.
Concentrate on your friend now , the rest can wait.
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John Roberts {JR}

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Re: non sound related question
« Reply #4 on: January 07, 2018, 10:47:58 am »

Good luck

JR
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Tim McCulloch

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Re: non sound related question
« Reply #5 on: January 07, 2018, 11:33:04 am »

Ah Kevin, this is tough.  It seems like no matter what decision you might make there is the potential for significant regrets.

Based on my observations I think it's a bad idea to continue a business because of some sense of obligation (which is what I'm kind of reading between your lines) and respect.  You mention you're ill-equipped to replace your partner's talents and skills and don't feel comfortable supervising the likely replacements.  I think you'd be wise to give weight to your gut reactions on these things.

Also running this particular business doesn't seem to hold further appeal now.  As you're a partner I suggest you hire a attorney to represent YOUR interests as his estate will certainly represent the interests of the estate and heirs.  It may be prudent to sell or close the business before your partner passes away.  You need professional advice regarding these factors and a frank discussion with your partner and counsel.

Finally, knowing the inevitable is about to happen doesn't soften the blow or lessen the loss.  Losing your friend and business partner is gonna suck.

edit: fix typos
« Last Edit: January 07, 2018, 10:55:53 pm by Tim McCulloch »
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Tim Tyler

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Re: non sound related question
« Reply #6 on: January 07, 2018, 09:55:08 pm »

Kevin -

Sorry to hear of your situation. 

If available to your area, I would suggest you contact a government program, S.C.O.R.E., and talk with one of the mentors about this.  I started my first business in the mid '70s, and was directed to a retired VP of G.E. who saved me a lot of time and effort by sharing his knowledge and experience. 

Your situation is not unique in business.  There are bound to be important considerations you have not realized, and this may be an opportunity to be put on the right path.

This service was free when I used it.

Best of luck to you,

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Scott Holtzman

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Re: non sound related question
« Reply #7 on: January 07, 2018, 10:16:41 pm »

Kevin -

Sorry to hear of your situation. 

If available to your area, I would suggest you contact a government program, S.C.O.R.E., and talk with one of the mentors about this.  I started my first business in the mid '70s, and was directed to a retired VP of G.E. who saved me a lot of time and effort by sharing his knowledge and experience. 

Your situation is not unique in business.  There are bound to be important considerations you have not realized, and this may be an opportunity to be put on the right path.

This service was free when I used it.

Best of luck to you,

-Tim T

https://www.score.org/

Successorship is very important.  When you formed your LLC or corp. the attorney should have asked.  Screwing it up can end up with your partner's girlfriend as your new partner. 

I once was in a situation where I was faced with having my soon to be ex-wife as a partner in my business (this was 20 years ago) as the business was community property.  I had to buy here out in the divorce agreement.

My condolences on the loss of your friend and the entire pain of the situation.

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David Smeaton

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Re: non sound related question
« Reply #8 on: January 08, 2018, 08:44:32 am »

Any self employment or sole trader business, or any business for that matter, needs 100% commitment, which you know yourself from previous experience and only you will really know if you still have that desire.  If may seem harsh, but if you need to ask the questions, then your heart is probably not in it to make a real go of it.

You say that 'everyone' wants you to keep the shop open, but is that due to the work they have had done before by your partner or is it due to the other services that you can still provide?  If it is the former, these people will soon be looking elsewhere to get their work done.

Perhaps it is actually a good time to draw a line in the sand and go in a different direction.  It is very easy to always do what you have always done purely out of convenience and simplicity.  Sometimes we need something like this to give us the push to do something new.

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scottstephens

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Re: non sound related question
« Reply #9 on: January 08, 2018, 08:56:39 am »

Kevin,

   Sorry Man.  Don't make any decisions now!!! Close for a week or two while mourning; your customers will understand.  During that time, go over your options and books, get legal advice and make a list of pros and cons.

Good Luck!

Scott
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