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EP42: Business Runs in the Family — Rick Holtz of HJ Holtz & Sons

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EP42: Business Runs in the Family — Rick Holtz of HJ Holtz & Sons

SUMMARY:

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.

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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

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LISTEN HERE:

QUOTES:

“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.”

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HIGHLIGHTS:

[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?

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LINKS & RESOURCES MENTIONED IN THIS EPISODE:

Join DYB

The E Myth Revisited — Michael Gerber

Built to Last — Jim Collins

Ownership Thinking — Brad Hams

Quickbooks Online

TSheets

Group.me

ADDITIONAL FREE RESOURCES:

Schedule Your Free Strategy Call With Steve

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Connect with Rick Holtz on Facebook here

Connect with Steve on Facebook here

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