127 The One with Tom Hutchison
127 The One With Tom Hutchison\xa0\xa0
Episode 127: Show Notes
Several months ago, I released a podcast on having multiple generations in the business (EP 104). Since that time, I have heard from several members of the Nation! who wanted to know more about how one generation transitions to another. Many of the original owners of the water treatment companies out there are retiring.\xa0 So, what should a business do to transition to the next generation properly? \xa0
At the last Association of Water Technologies conference, Tom Hutchison of HOH Water Technology delivered a paper on this very topic. Tom interviewed 22 business owners of multi-generational businesses and asked them questions around the transition.\xa0Tom was gracious enough to come on today\u2019s show and share his findings with the Scaling UP! Nation!\xa0
AWT Multi-Generational Businesses | DOWNLOAD!
Key Points\xa0From\xa0This Episode:\xa0
- \xa0Radical Polymers [0:00:10]\xa0\xa0
- \xa0Rising Tide Mastermind [0:04:03]\xa0\xa0
- \xa0AWT Training Schedule [0:05:56]\xa0
- \xa040 Years After\xa0In\xa0Water Treatment [0:11:30]\xa0\xa0
- \xa0Multi-Generational Businesses [0:17:15]\xa0\xa0
- \xa0Reason Why Generations Fail [0:24:50]\xa0\xa0\xa0\xa0
- \xa0Start With\xa0\u201cWhy?\u201d\xa0[0:29:16]\xa0
- \xa0Family Dynamics [0:35:40]\xa0
- \xa04 Ways\xa0To\xa0Transition A Business [0:45:46]\xa0
- \xa0Best Time\xa0To\xa0Talk Transition [0:54:07]\xa0\xa0
- \xa0Why We Need\xa0To\xa0Have EOS [0:56:15]\xa0
- \xa0And A Lot More!\xa0
Tweetables:\xa0\xa0
"Things have changed since I was in the field in the '80s and '90s. I think customers have changed, as the market has changed, it is a different world for water treaters today. I think I know all the right answers, but I know what the answers were in 1980, and I am not so sure what they are now in 2019." - @TomHutchison \xa0 @TraceBlackmore #TheOnewithTomHutchison\xa0#Masterminds\xa0#MastermindGroup\xa0#RisingTide\xa0#CWT\xa0#IWC\xa0#AWT #scalingupnation\xa0#scalinguppodcast\xa0#scalinguph2o\xa0#scalingupandbeyond\xa0#traceblackmore #HOH #AWTTrainingandSeminars #goalplanning2020 #TechnicalTraining #TomHutchison #EOS #multigeneration\xa0
"Fifty (50%) percent of second-generation businesses are successful, fifteen (15%) percent of third-generation businesses are successful, and five (5%) percent of fourth-generation businesses make it." - @TomHutchison @TraceBlackmore #TheOnewithTomHutchison\xa0#Masterminds\xa0#MastermindGroup\xa0#RisingTide\xa0#CWT\xa0#IWC\xa0#AWT #scalingupnation\xa0#scalinguppodcast\xa0#scalinguph2o\xa0#scalingupandbeyond\xa0#traceblackmore #HOH #AWTTrainingandSeminars #goalplanning2020 #TechnicalTraining #TomHutchison #EOS #multigeneration\xa0\xa0\xa0
"There is nothing more important to me with regards to HOH than to make sure that I've properly transitioned to the next generation." - @TomHutchison @TraceBlackmore #TheOnewithTomHutchison\xa0#Masterminds\xa0#MastermindGroup\xa0#RisingTide\xa0#CWT\xa0#IWC\xa0#AWT #scalingupnation\xa0#scalinguppodcast\xa0#scalinguph2o\xa0#scalingupandbeyond\xa0#traceblackmore #HOH #AWTTrainingandSeminars #goalplanning2020 #TechnicalTraining #TomHutchison #EOS #multigeneration\xa0\xa0\xa0\xa0
Links mentioned On This Episode:
Rising Tide Mastermind\xa0\xa0\xa0
Association of Water Technologies\xa0
122 The One with Reid Hutchison \xa0
123 The Other One with Reid Hutchison\xa0\xa0
104 The One on Generational Diversity \xa0
045 The One That Brings Your Team Together \xa0
085 The One with the Business Operating System\xa0
Books: \xa0
Leaders Eat Last: Why Some Teams Pull Together and Others Don't
Dance in the End Zone: The Business Owner's Exit Planning Playbook \xa0
The Advantage: Why Organizational Health Trumps Everything Else\xa0In Business\xa0