EP42: Business Runs in the Family — Rick Holtz of HJ Holtz & Sons
In this episode of DYB, Steve shares the mic with Rick Holtz; Owner & Operator of HJ Holtz & Sons in Richmond, Virginia.
As a multi-generational family business, HJ Holtz & Sons started in the early 1900’s by Rick’s grandfather.
As Rick grew up, he eventually inherited the business and ran with it.
As HJ Holtz & Sons grew, however, there were multiple snags Rick ran into.
Enjoy this episode as both dissect ways to prevent others from tripping up while transitioning from small family business to a large business.
WHAT YOU’LL LEARN:
-How to start thinking bigger about your company
-How to keep a grip on your business as it continues to grow
-How to take the first steps toward finding reliable people to run your business for you.
-How Rick executed the transition from Family Business to “Real” Business
“2008 was when I decided I needed help. I needed somebody to be objective, to hold me accountable…somebody who wasn’t emotionally tied to this family business.”
“Something I didn’t realize was that this company was my dad’s model. I was trying to run a very large company as if it was a small company.”
“Being more deliberate with different parts of the company…finding people who could be owners of those parts of the company was a huge shift.”
“Once you get to a certain level, you can’t survive and lead a healthy lifestyle without learning how to rely on other people.”
“I’m a big proponent of hiring within. If you have a structure to progress people into higher leadership positions, then I think that’s a great thing.”
[1:40] How was HJ Holtz & Sons started?
[9:40] At what point did the business expand once Rick increased his involvement?
[17:21] How has Rick’s culture shifted from 2008 to now?
[22:10] What KPIs are Rick measuring internally?
[25:38] What type of work does HJ Holtz & Sons take on?
LINKS & RESOURCES MENTIONED IN THIS EPISODE:
The E Myth Revisited — Michael Gerber
Built to Last — Jim Collins
Ownership Thinking — Brad Hams
ADDITIONAL FREE RESOURCES:
Schedule Your Free Strategy Call With Steve
Connect with Rick Holtz on Facebook here
Connect with Steve on Facebook here
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