Keeping a family welding business going...

From the MDTimes.com, a good story on how one man is working to keep his family welding business going...

Jeff Allen bought Mooresville Welding in 1991. He couldn’t have done it without financial help from his grandfather Dale Jessup, but the money wasn’t the real gift— Allen had to pay that back. What has kept the business alive is the advice that his grandfather has given him.

“I didn’t know anything about the business side of it,” Allen said. “It was tough learning in the way that sometimes mistakes can cost you a lot of money.

“But there were a couple of things he said, pieces of conversations I took away that have really stuck with me. And if anyone could call me successful, or heading toward success, it’s because of that advice and the role model that I have.”

The most important piece of advice was to be diversified in the services you offer. Or in Jessup’s clichéd words, don’t keep all your eggs in one basket.

Adding to your business wasn’t the only tenet that Jessup passed on to his grandson. He also had a few other pieces of advice, that Allen said he has tried to follow. “Grandpa always told me ‘always be honest and don’t be greedy’,” Allen said. “Oh, and don’t cheat on taxes — make lots of money and pay lots of taxes that’s just part of it.