Should I Leave My Family Business and Start My Own Venture?

At 29, I've been working for my family's small corporation since I graduated from college in 2018. I started part-time while studying for my real estate license, and I continued to work there full-time after realizing they lacked any digital marketing efforts. Over the years, I've learned every major marketing channel through trial and error and have become the de facto corporate marketing director. However, despite my significant contributions and efforts, I am currently earning just $28,000 annually.

The Company’s Internal Challenges

My parents have made several poor hires, including people whose skills and experience level are on par with mine or even above. Running simple tasks like starting a video call has become a challenge for them due to the lack of initiative and support they provide. They are currently developing a new online product, which I designed and for which I performed the market research. I am also responsible for overseeing the sales team, reimagining the company’s operational processes, redesigning their website, and executing all marketing initiatives plus the launch of this product. Yet, they have hired a Product Manager at $50,000 with stock options and have recruited others at over $100,000 over the years.

Despite being heavily involved in the product development process, my parents have not offered any form of stock options to me. Every person who interviews with “big talk” is viewed as having significant potential. While my parents attempt to motivate me by stating that they will leave the company to me upon their death, the reality is that only 52% of the company will go into the family trust, to be split between my father and his 8 children. The remaining 48% will go to employees with stock options. Despite these factors, I remain committed to making the company worth 100 to 500 million in the next decade.

The Pressure and Expectations

I dedicate every day from 3 AM to 11 PM to this company, believing that I have what it takes to elevate it to new heights. However, my father’s volatile behavior and philosophical discussions about my capabilities often leave me questioning my worth. Even though I perform all the functions of a marketing director, he repeatedly claims that I lack the necessary skills. The psychological abuse and verbal attacks, such as yelling and blaming me for getting emotional, have taken a toll on my mental health. Despite my years of work and dedication, I am consistently being paid much less than what I am worth.

The Dilemma: Family vs. Ambition

My parents try to maintain control by firing me if I stand up for myself, guilt-tripping me, or threatening to cut me off when I mention moving out. While I currently live with them, the only thing keeping me here is the launch of this new product. I am no longer certain whether staying in the family business is the best decision for my career growth and financial stability.

Conclusion

Deciding whether to leave a family business and pursue a startup of one's own requires a careful balance of ambition, personal well-being, and financial security. While the family business provides a familiar and stable environment, it often comes with inherent limitations and stress. On the other hand, starting a new venture can offer more independence and financial rewards but is also fraught with uncertainty.

The question of whether I should leave my family business is not a simple one. It requires considering the long-term impact on my career, access to resources, and the emotional toll of the current situation. By exploring the benefits and pitfalls of both paths, I hope to make an informed decision that aligns with my goals and aspirations.