Do I Want to Work with My Family?
Last fall, we met BaLeigh Waldrop who was trying to decide whether she wanted to take over her parents’ furniture business. In this week’s podcast, we find out what she decided.
Good Morning!
Here are today’s highlights:
Investors are backing MBAs with no experience running a company who are buying businesses in industries they know nothing about.
Why not require the government to give 90-day notice before imposing tariffs on an industry?
The immigration crackdown has reached Amazon’s warehouses.
Introducing the 21 Hats Resource Guide: A list of businesses that want to do business with you.
THE 21 HATS PODCAST
Last September, we hosted a 21 Hats Brainstorm podcast in which BaLeigh Waldrop told us that she was considering buying the family business from her parents. BaLeigh, who has been serving as chief financial officer of the Miller Waldrop furniture business that her great grandfather started, recognized that she was being offered a remarkable opportunity, but she had some concerns. Sales have been off of late, the business is predominantly brick-and-mortar, and most importantly, she would have to work out an ownership structure with her younger brother. The 21 Hats crew of owners and entrepreneurs who joined the brainstorm asked a lot of good questions and offered smart suggestions. “I think what's actually incredibly hard about this whole thing is that I love it,” says BaLeigh. “I love wearing the different hats. I love owning a business in a small community.”
We left it that BaLeigh would get back to us once she’d figured things out. In this week’s episode, she returns to tell Jay Goltz—who offered to adopt her if she’d take over his businesses—and the rest of us what she’s decided.
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