Holt Path

Transition/Conclusion

Holt Path

Transition/Conclusion
Passion for the Business
Also found at "Running the Business" Station along the Operational
Also found at "Albrecht Path" Station along the Peer Paths
Also found at "Mattheisen Path" Station along the Peer Paths
Also found at "Greer's Path" Station along the Peer Paths
Also found at "Do I Want To Buy A Business?" Station along the Start Up
Also found at "Starting Your Business" Station along the Start Up
Power of Entrepreneurs
Whether you are first, second, third generation, or beyond - you are an Entrepreneur!

What is your power as an entrepreneur?
Also found at "Running the Business" Station along the Operational
Also found at "Starting Your Business" Station along the Start Up
Next Generation Support Part 1 - Why
Support in guiding and developing the next generation.

What is mentoring, and are you a good mentor?
o Talking vs Teaching
- Never letting the next generations “touch the keys”
o Is the next generation prepared?
- Fear of failure to rise to the level of their successful parents.
Also found at "Preparation for Multi-Generational Ownership" Station along the Transition/Conclusion
Also found at "Greer's Path" Station along the Peer Paths
Also found at "I'm Retiring - Now What?" Station along the Transition/Conclusion
Also found at "Next Generation Start Up" Station along the Start Up
Next Generation Support Part 2 - How
1. Reciprocation Agreement
a. To give successors a broader perspective of the industry
- Contract with another business in the industry – communication between the
two businesses to focus on what they need exposed to.
- That individual leaves the company and goes to work at another business.
- Talk to your wholesaler if you don’t know of someone to have this agreement
with.
• Does the wholesaler have an opportunity with them?
b. Example: Coors & Gallo Families

2. Send successor to work elsewhere without an agreement.
a. Doesn’t have to be in the industry.
b. Still learn new business ideas
- Ex. Working with perishable foods as a grocer and being able to bring back that
information to your business.
c. Difficult, but can be successful with communication and understanding of expectations.

*Success dependent upon the next generation being prepared.
Also found at "Preparation for Multi-Generational Ownership" Station along the Transition/Conclusion
Also found at "Greer's Path" Station along the Peer Paths
Also found at "I'm Retiring - Now What?" Station along the Transition/Conclusion
Also found at "Next Generation Start Up" Station along the Start Up
Getting the Next Generation Involved
Also found at "Preparation for Multi-Generational Ownership" Station along the Transition/Conclusion
Also found at "Next Generation Start Up" Station along the Start Up