The Key to Set up the Next Generation for Success

Video Transcription: (Mick Guttau)
I think what my generation needs to do is to establish parameters that this organization can operate within and still be successful. Obviously, not everything should be done the way that I did it before. Those things need to change. But a lot of people do not have the ability to let go of that…so I think you can set a parameter and let it operate within those parameters as long as nothing is going wrong.
And the other thing is…that I found out…is that if you hire people that are smarter than you are, you’re a lot more successful. Everybody I have hired is smarter than I am, you know. So let them make those decisions as long as they’re within those parameters you have set.
And chances are, the decisions they make, the detail that they know, and the vision they have of the outcome is much clearer than yours anyway.
I like to say that I am a risk-taker, so it is probably easier for me. But at the same time, in most families, if the older generation would focus on that, I think they can move forward with a lot healthier relationships between the generations.

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