Doing business with dad

These five father-child teams say starting a small business together was a leap of faith, but they all agree that the secret to their success is trust.

John and Mike New
John and Mike New
Business: Home building

Michael New learned everything he knows about home building from his dad, John, an architect and engineer who made a career building high-end homes in Southern California.

From the age of 15, John brought his son to work on construction sites, but originally tried to dissuade him from pursuing a career in the home-building industry, believing it was too risky.

"He threw me in the trenches, trying to discourage me from getting into the business of building homes," Michael said. But, "I developed a love for it."

After college, Michael launched his own custom home-building company in Colorado and then founded DirectBuild, a consulting program for people who are building their own homes. "With my dad's help we put it together," Michael said, "we used our combined experience - he drew the plans and I ran the business."

Now the News own two stores and have recently launched a franchising program.

Of course, Michael admits, when you're dealing with family, you don't always see eye to eye. "My dad liked building one or two homes a year and that wasn't enough for me." But, "I know he's extremely pleased with what's been happening with DirectBuild."

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Bob and Rean Stucker

Mike New

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.