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When our family business separation was implemented, as the eldest member of the family, I had taken the entire burden of the debts. I believe, it was my mistake to have told myself that, 'Subhash, you can earn and repay the creditors.'
When I took over the family business, it had already been a publicly traded company for 20 years. During one of the first annual meetings I attended, one shareholder stood up and advised me and everyone in attendance that I should resign.
My father never really encouraged me or even took an interest after I walked away from the family business. No one did except my mother and my grandfather. To be truthful, I cannot remember one meaningful conversation I had with my father.
I worked in the family business, which was my father's shoe making company that he had inherited from his father, and that led me to become interested in what could be achieved by a great Italian brand. That became my ambition as a young man.
Growing up in eastern Turkey, I was not really involved with the family business - sheep and cow farming, yogurt and cheese making. But I think I learned from my father the unspoken business language or instincts that go back thousands of years.
I grew up on my dad's sets, but I was never star-struck or desperate to be famous. I grew up being a worker. It took me a long time to realise that my work ended up being seen by people. As far as I was concerned, I was just in the family business.
The way it works in our family is, it's the family business. Much like in the Mafia. Every child is given the opportunity to act at a young age and to learn what it's like to be in the business. But I didn't really know I wanted to act when I was a child.
We started off as Marcus Mumford, which is our singer's name. But then it very quickly became apparent it wasn't really a one-man thing: it was indeed a band. We wanted to give the impression of a family business, and we just liked the ring of Mumford & Sons.
Growing up in a very big family, working together and playing together, that is something that has been part of my life since ever I was born. It has advantages and disadvantages. It's like an older style of living where everyone works in the family business.
You have to respect your parents. They are giving you an at-bat. If you're an entrepreneur and go into the family business, you want to grow fast. Patience is important. But respect the other party... My dad and I pulled it off because we really respect each other.
My mother was a sociologist and an intellectual, and my father was an industrialist with a business in copper and aluminum wire. He was very strict and he wanted me to work in the family business - for him, the worst thing was having a daughter who worked in fashion.
What I have found is that, in a family business structure, sometimes what is needed is a sense of discipline rather than creativity. You have to take everyone's ideas and make it work. When you are dealing with money, there is a limitation on how creative you can be.
Playing music has always felt very natural. You know, you do try to do other things, and you do learn lessons that way, but, eventually - well... if your dad is a plumber, you become a plumber. It's the family business, and I felt like I was taking over the family business.
I grew up in the countryside with the factory here, my house 200 metres away, my grandma's house 50 metres away, in a kind of old-style Italian society where everyone works for the family business, everyone lives nearby, and the people you spend your time with are your family.
I think I know I've been working very hard for the family business, sometimes those days are long days and I think if I know I'm working hard and pulling my weight, both working and playing hard at the same time, I think everyone who I work with can see I am there pulling my weight.
Nothing was planned in my career. I just went with the flow and took everything that came to me. Selling potato chips was obvious, as it was a family business. When friends suggested I should try theatre, I gave it a shot. Then I did a lot of advertisements, and then movies happened.
I would have to honestly say that my biggest regret is even starting this sport. I think I would've lived a different life if I would've stayed home in Memphis and worked at the family business. I'd be closer to my family and growing old with them instead of living out at California.
I had the option of building a career in the U.S. Many of my friends who went at the time did not come back, but for me, building the family business and being with family was worth it. I became a general manager within four months, as I used my education to improve productivity and output.
My future was planned before my birth. I was supposed to get married or be involved in the family business. But I was all about breaking barriers and started thinking out of the box when I was 13-14 years old. Finally, at 17, I floated my own Microfinance Institution (MFI) called Svatantra.
My family was in two businesses - they were in the textile business, and they were in the candy business. The conversations around the dinner table were all about the factory floor and how many machines were running and what was happening in the business. I grew up very engaged in manufacturing and as part of a family business.
Family business management is a discipline that has evolved from an art into a science. The market for this line of education has been created by the growing recognition of family-run companies that shareholders are demanding greater clarity on issues ranging from succession to the management of wealth and the distribution of profits.
Our family business was operating batting cages. The pitching machine spit out the balls at lightning speed. Don Drysdale, Sandy Koufax. Whitey Ford. 50 cents for 12 pitches. Of course, my mother ran the place, and I was her slave: selling candy, hosing down the street, and the most dreaded of all jobs, feeding the pitching machine with balls.
Much like my father instilled in us many of the values and traditions that my brothers and sisters and I still carry forward, P.C. Richard and Son is a family run business - now with four generations having worked toward providing customers with honesty, integrity and reliability. We are proud to be associated with such a beautiful family business.