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

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

Sep 24, 2018

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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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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