The Family business has many facets to be considered. One being the seniority. The other the capacity.
Looking into the third factor the viability which I feel is most important in business. Just because it has been handed over to generations it is not the best. It was working at one point of time. it would have done pretty well. Now, times have changed so does the outlook.
I know a family which was doing very well in money lending. The father did from his village lending out money to his relatives for a decent interest. he made money and lived comfortably. his sons moved out to a town nearby. All the four of them had set shops. Each one advanced money against the security which would be in the form of land, jewels and materials. They made huge profits.
it happened one day, the first son was alone in his house as his wife had gone to a temple some 300 kilometres to participate in a function. The maid had gone home. The man locked his door and went into his bedroom. Caught unaware a man bounced from nowhere, overpowered him and stifled him to death. The burglar took all the pawned valuables and made way quick. The next morning the maid came, She saw the house open. She called the neighbours and all went in to see the man deal with a pool of blood around.
The wife rushed back and the rest is history. The viability comes into the scene. Pawn shops and their likes were prominent in ester years. As the days have advanced,
people are not so much inclined to these old age business. They go direct to the banks and raise money pledging security. it is far more safe and cheap too. The pawn shops and their gold have become obsolete.. The business model is outdated. A reformation should take place for such kind of business to prosper.
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Looking into the third factor the viability which I feel is most important in business. Just because it has been handed over to generations it is not the best. It was working at one point of time. it would have done pretty well. Now, times have changed so does the outlook.
I know a family which was doing very well in money lending. The father did from his village lending out money to his relatives for a decent interest. he made money and lived comfortably. his sons moved out to a town nearby. All the four of them had set shops. Each one advanced money against the security which would be in the form of land, jewels and materials. They made huge profits.
it happened one day, the first son was alone in his house as his wife had gone to a temple some 300 kilometres to participate in a function. The maid had gone home. The man locked his door and went into his bedroom. Caught unaware a man bounced from nowhere, overpowered him and stifled him to death. The burglar took all the pawned valuables and made way quick. The next morning the maid came, She saw the house open. She called the neighbours and all went in to see the man deal with a pool of blood around.
The wife rushed back and the rest is history. The viability comes into the scene. Pawn shops and their likes were prominent in ester years. As the days have advanced,
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