"I Run My Parents' Business but Own 0%"

0:00I run my parents' business, but own 0%. I want to scale it, but don't want to build something I don't own. How would you approach getting equity? >> Ask, bro. Like, how do you think you're going to start a business of your own if you can't ask people? Right? Just ask them. Say, "Hey, uh like, one of my my biggest frame for having hard conversations is tell the complete truth." So, the same way you're asking this question to me, ask that to your parents. "Hey, I really want to scale this business, but I don't want to scale a business that I don't own no equity in. How do you think" or, my favorite question, "what would it take for me to eventually own half or me to eventually own 100%?"

0:39And now you can have a conversation. And then they will name a price, meaning what it would take. And then you get to determine, because what it takes assumes success. It assumes accomplishment of whatever you want, and then reverse engineers a price tag, which then you can choose to say is this reasonable for me or not. If they come back and say, "Well, we've always wanted you to own the business, and I think that if you work in it for the next 10 years, we'll give you uh you know, 10% a year over the next 10 years," then you're like, either that price is worth it to you or not. Now, you might say, "Well," and you have to make that calculus for yourself.

1:06Do I think in that same 10 years I could build a business of greater capacity um without having to get their permission to do all the things that I want to do?" If that's true, then prove it. And if it's not true, then don't complain. But either way, they will state a price, and then you will pick whether you want to whether you want to make the bet or not. But just state the fact, tell the truth, and say that to them. Like I'm telling you, the best thing to do is ask the hard, real question that you would ask me to them. "I've got this employee who's been showing up late, and they're you know, they're taking all these coffee breaks, and I don't know if they're doing anything." Say that to them. "Hey, you've been showing up late, and you've been taking all these coffee breaks, and I don't know if you're doing anything. Help me.

1:43Help me understand what you're doing so that I don't have to ask these thoughts." Just say what you're going to say. When you talk behind someone's back, tell them. Just remove the insults. Just state the facts. If you like this video and you're business owner who wants to break through your current revenue ceiling, I distilled every lesson from scaling 10 businesses past 10 million and three businesses past 100 million into completely free scaling roadmap that I've used to go from zero to one, zero to 10, and zero to 100 plus. And so, you can click here and you can check it out. Again, absolutely free and since your business owner appreciates you and enjoy.