Thinking about hiring my dad...

28 replies
I am thinking about hiring my dad to do sales for me. He was an investment banker for 30 years until having to semi-retire due to kidney disease. He is home most of the day due to dialysis and I think I could hire him.

Should I do hourly or commission-based?

What type of training would he need to make these calls?
(i.e. would he have to know anything about internet marketing?)

I think that he would just need to sell the website and write down the contact info of serious people and have the serious people email me or something.

What do you say?
#dad #hiring #thinking
  • Profile picture of the author paulie888
    I think you'd get better results from your dad with commission-based payment. After all, having been an investment banker before, I'm sure he understands the power of performance-based compensation.

    I don't think he'd require much training, you'd probably just need to come up with a simple cold-calling script that establishes interest. Once he has those interested parties, he should pass them on to you to close the sale.
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  • Profile picture of the author iAmNameLess
    Originally Posted by Mike McAleer View Post


    I think that he would just need to sell the website and write down the contact info of serious people and have the serious people email me or something.

    What do you say?
    NO NO!!! Don't have the serious people email you...you would be making them do more work just to give you money! He could close the calls himself. Type out a script, type out a QnA sheet, or FAQ, and he should be good to go!

    Commission only is probably best.
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  • Profile picture of the author Always-A-Warrior
    Honestly?. I would let him enjoy his retirement and find someone who knows the ropes already of Web development. As an investment banker he would do better selling investment portfolio's or advices instead of websites plus its more lucrative with investments. If I were you I'd learn from him instead.
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  • Profile picture of the author astrellalopez
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    • Profile picture of the author Bryan V
      Originally Posted by astrellalopez View Post

      Honor your parents so that you will have long life according to the Bible. Don't let your dad work for you, just give him money. Let him enjoy the remaining of his life.
      My dad loves to run businesses and would love to work for me. But I would never even try to hire him at the rates I pay .
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  • Profile picture of the author mattie77
    Put your Dad on as a partner!!! HE raised you. GIVE him a vested interest in the business. Think of all the money that he has spent on you throughout your life.

    And if he gets too sick. just keep him there as a silent partner. Its the least you owe him.

    Just my 2 cents worth.
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    • Profile picture of the author John Durham
      Originally Posted by mattie77 View Post

      Put your Dad on as a partner!!! HE raised you. GIVE him a vested interest in the business. Think of all the money that he has spent on you throughout your life.

      And if he gets too sick. just keep him there as a silent partner. Its the least you owe him.

      Just my 2 cents worth.
      That what Im talkin about. Your Dad only wants to help you build wealth. At his age, the only thing he's thinking is "What kind of greatness can I leave behind for my son..."?

      Sadly you will be about 40 before you really understand that if you are like most people your age, and by then all of his years of trying to reach out to you will have been in vain...

      Do it now. Gibran says "I will give while the season of giving is mine, for tomorrow all that I have have shall be given... Today I will fondle my children with love, for tomorrow they will be gone and so will I..."

      Go hug your Dad, and ask him to show you how to start a business.
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      • Profile picture of the author nigelchua
        Originally Posted by John Durham View Post

        That what Im talkin about. Your Dad only wants to help you build wealth. At his age, the only thing he's thinking is "What kind of greatness can I leave behind for my son..."?

        Sadly you will be about 40 before you really understand that if you are like most people your age, and by then all of his years of trying to reach out to you will have been in vain...

        Do it now. Gibran says "I will give while the season of giving is mine, for tomorrow all that I have have shall be given... Today I will fondle my children with love, for tomorrow they will be gone and so will I..."

        Go hug your Dad, and ask him to show you how to start a business.

        I agree with this - with the wealth of experience and know-how PLUS the network that he knows...you'd be better learning and leveraging on his experience and wisdom than the other way round. Also, why not ask him what he prefers to receive? Sometimes, they value a twice-a-week breakfast with you talking over business and life! =D
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        • Profile picture of the author Mike McAleer
          Originally Posted by nigelchua View Post

          I agree with this - with the wealth of experience and know-how PLUS the network that he knows...you'd be better learning and leveraging on his experience and wisdom than the other way round. Also, why not ask him what he prefers to receive? Sometimes, they value a twice-a-week breakfast with you talking over business and life! =D
          He is my dad. I am 17 so am still at home with him....
          He is looking for employment!
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          • Profile picture of the author DWolfe
            Mike talk to you dad and say you have a business and want help. Ask him if he has any suggestions and listen ? If he is interested he will help even a few suggestions than ask if he wants to join your business than listen to his response. Do not be affraid just be open to see if he has any interested and where he will fit in best
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            • Profile picture of the author Kay King
              Commission based.

              It's a bonus for you as I'll give you odds your dad knows a lot more about the business world and how it works than you do at this time. You have the IM knowledge but his business experience would be invaluable.

              Outline the job - work with him to train him on the product so he can close the deals - and let him at it.
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  • Profile picture of the author aduttonater
    Just hire according to performance. Maybe supervise him while he makes a few calls. See how he does, and if it's whats your looking for then I'm sure you can bring him aboard.
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  • Profile picture of the author Shane Hale
    I did this with my Mom, I found out commission based is the way to go. However, the parent to child relationship for me was a bit too much. Some parents don't like to take instruction well from children and think their way is best. This can be detrimental to your business especially when they do not know much about Internet marketing or Local Search Marketing. I had to preach clear your head and open your mind to let me show you how this works to her. She was a Real Estate Broker. Good Luck!
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  • Profile picture of the author BlueGlobeSeo
    Does your dad need the money? I'm sure he earns/ed a lot as an investment banker. And if it were me, I wouldn't offer to hire him as my employee for the reasons that he's my parent and that doing sales is a career downgrade (although I'm not saying sales is a lowly job).

    I suggest you make him an industrial partner, I'm sure you wouldn't mind having him share some of your profit (and loss), right?
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    • Profile picture of the author Mike McAleer
      Originally Posted by BlueGlobeSeo View Post

      Does your dad need the money? I'm sure he earns/ed a lot as an investment banker. And if it were me, I wouldn't offer to hire him as my employee for the reasons that he's my parent and that doing sales is a career downgrade (although I'm not saying sales is a lowly job).

      I suggest you make him an industrial partner, I'm sure you wouldn't mind having him share some of your profit (and loss), right?
      I am going to pay him. He used to make a lot of money YES!
      but.. he got kidney disease about 12-15 years ago and has been out of work for about 8 yeears on and off. He wants to work and I figured this would give him something to do while he is at home. I would obviously pay him!
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      • Profile picture of the author paulie888
        Originally Posted by Mike McAleer View Post

        I am going to pay him. He used to make a lot of money YES!
        but.. he got kidney disease about 12-15 years ago and has been out of work for about 8 yeears on and off. He wants to work and I figured this would give him something to do while he is at home. I would obviously pay him!
        It sounds like your dad would understand and appreciate a performance-based compensation business model, given what he has done before. You could probably even make him an equal partner in your deals, and I feel that this would empower him to do the best he can in calling businesses and collaborating with you on other aspects of your business.
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  • Profile picture of the author drowning
    A little embarrassed, I think,
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  • Profile picture of the author SergeyZ
    You're missing a BIG opportunity here. Record an interview with your dad. He's an investment banker. Ask him about the common mistakes most people make when trying to invest their money. Ask him what are the five most important things he's learned in his entire career as an investment banker, etc. Ask him a lot of questions (also get ideas by looking at what questions people are asking on investment forums). Then use this info to create a series of PDFs and MP3s and use your Internet Marketing and copywriting skills to create an info product not for warriors but for regular folks who are trying their best to find a good investment in today's rough economy.

    Something like "Investment Secrets: Retire Rich While Your Broker Goes Broke!" or something like that. Have fun, learn, spend time with your dad, and market the bejeezus out of this. And remember, he's spent so many years in a specialized field that what he may think of as "common knowledge" may be advice worth its weight IN GOLD to thousands of ordinary people.

    Good luck and best wishes for your dad. Kidney disease sucks. I hope he gets better!
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    • Profile picture of the author Mike McAleer
      Originally Posted by SergeyZ View Post

      You're missing a BIG opportunity here. Record an interview with your dad. He's an investment banker. Ask him about the common mistakes most people make when trying to invest their money. Ask him what are the five most important things he's learned in his entire career as an investment banker, etc. Ask him a lot of questions (also get ideas by looking at what questions people are asking on investment forums). Then use this info to create a series of PDFs and MP3s and use your Internet Marketing and copywriting skills to create an info product not for warriors but for regular folks who are trying their best to find a good investment in today's rough economy.

      Something like "Investment Secrets: Retire Rich While Your Broker Goes Broke!" or something like that. Have fun, learn, spend time with your dad, and market the bejeezus out of this. And remember, he's spent so many years in a specialized field that what he may think of as "common knowledge" may be advice worth its weight IN GOLD to thousands of ordinary people.

      Good luck and best wishes for your dad. Kidney disease sucks. I hope he gets better!
      Wow AWESOME idea! Clickbank product or something? What do you think?

      I actually see this as a nice opportunity!
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      • Profile picture of the author SergeyZ
        Originally Posted by Mike McAleer View Post

        Wow AWESOME idea! Clickbank product or something? What do you think?

        I actually see this as a nice opportunity!
        Sure, Clickbank will do fine. You could also expand to offline marketing. Turn your sales page into a one page flyer. Then, go find forums and message boards populated by college students and offer to pay $10 to anyone who prints out the PDF, photocopies it, and puts it up in visible spots on their college campus. You could also create a flyer specifically targeted at college students. Unfortunately, most of them will be in debt as soon as they get out of college and a lot of them will have a hard time finding jobs that pay well enough to lower their debt. Your product can help them pay off their student loans, help them avoid bad financial deals in the future, and can help them invest their money as well. They'll see your flyer, rip off one of the bottom tabs (which usually have a phone number but, in this case, will have a URL), and visit your site. Offer them a discount on some future related info product if they refer people to the site to sign up. You can get tons of customers this way.
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        • Profile picture of the author Mike McAleer
          Originally Posted by SergeyZ View Post

          Sure, Clickbank will do fine. You could also expand to offline marketing. Turn your sales page into a one page flyer. Then, go find forums and message boards populated by college students and offer to pay $10 to anyone who prints out the PDF, photocopies it, and puts it up in visible spots on their college campus. You could also create a flyer specifically targeted at college students. Unfortunately, most of them will be in debt as soon as they get out of college and a lot of them will have a hard time finding jobs that pay well enough to lower their debt. Your product can help them pay off their student loans, help them avoid bad financial deals in the future, and can help them invest their money as well. They'll see your flyer, rip off one of the bottom tabs (which usually have a phone number but, in this case, will have a URL), and visit your site. Offer them a discount on some future related info product if they refer people to the site to sign up. You can get tons of customers this way.
          Thanks a lot. Definitely something to consider once I have the time and get my dad onboard.
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        • Profile picture of the author paulie888
          Originally Posted by SergeyZ View Post

          Sure, Clickbank will do fine. You could also expand to offline marketing. Turn your sales page into a one page flyer. Then, go find forums and message boards populated by college students and offer to pay $10 to anyone who prints out the PDF, photocopies it, and puts it up in visible spots on their college campus. You could also create a flyer specifically targeted at college students. Unfortunately, most of them will be in debt as soon as they get out of college and a lot of them will have a hard time finding jobs that pay well enough to lower their debt. Your product can help them pay off their student loans, help them avoid bad financial deals in the future, and can help them invest their money as well. They'll see your flyer, rip off one of the bottom tabs (which usually have a phone number but, in this case, will have a URL), and visit your site. Offer them a discount on some future related info product if they refer people to the site to sign up. You can get tons of customers this way.
          Another thing you could do which is a little more involved is get students and others on a profit sharing agreement with you. You'd set up subdomains (e.g. student1.yourdomain.com, student2.yourdomain.com) to track sales, and then agree to pay them a set agreed-on percentage for any sales made through their efforts in distributing these flyers - they'd be free to work as much or little as they wish, and they'd be paid in direct proportion to how much they do.

          You could end up with some real superstars by using this approach, though the trade off is that it's a little more complex to set up initially.

          Paul
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          • Profile picture of the author Mike McAleer
            Originally Posted by paulie888 View Post

            Another thing you could do which is a little more involved is get students and others on a profit sharing agreement with you. You'd set up subdomains (e.g. student1.yourdomain.com, student2.yourdomain.com) to track sales, and then agree to pay them a set agreed-on percentage for any sales made through their efforts in distributing these flyers - they'd be free to work as much or little as they wish, and they'd be paid in direct proportion to how much they do.

            You could end up with some real superstars by using this approach, though the trade off is that it's a little more complex to set up initially.

            Paul
            You always have good insights Paul...thanks a lot and I will likely pursue this sometime likely in the summer....
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  • Profile picture of the author soulpower
    this is as bad as a yahoo answers question
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    • Profile picture of the author Mike McAleer
      Originally Posted by soulpower View Post

      this is as bad as a yahoo answers question
      who are you???
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  • Profile picture of the author hotlinkz
    Awkwaaard!!

    I agree with others. You should at the least bring him in as partner. Maybe his investment banking experience can bring something unique to the business.
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  • Profile picture of the author Mike McAleer
    Update:

    I got my dad on board. He is going to start making calls on Monday. In exchange, I am building a website for his investment banking firm. I am going to start making calls myself tomorrow!
    I got a new headset for Skype and I really like it.
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  • Profile picture of the author CloptonCapital
    The title alone made me think this was a bad idea, but good for you if you do. As far as how to pay him, I guess its more about what works for him
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    • Profile picture of the author TrumpiaTim
      Dependent upon how much time and work he is planning to do for you, I'd take a serious look at potentially making him a partner.

      If he's just doing this since he's getting the retirement bug and doesn't like the retirement lifestyle, you should offer him a commission based pay with a bottomline salary in the case that he doesn't hit his numbers.

      Just keep in mind, the old man did take care of you for the better part of his life, so be nice!
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