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David Grau Sr.

๐Ÿ‘ค Speaker
459 total appearances

Appearances Over Time

Podcast Appearances

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Huh, I guess I am replaceable.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

And it was the best thing that could have happened to them.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Well, you know, first of all, I always I told young people in my office, always hire people who are better than you, especially if you're an owner.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

I mean, you just have to practice that.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Second, give them an opportunity to have more than just a paycheck.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

And so equity.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Create an ownership track.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

I mean, you could still be a 51% owner or more.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

You can still be the CEO, and you can be chairman of the board.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

You're not going to give up control.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

But if somebody in their 30s, maybe early 40s, sits down and makes a decision, not only with their career, but with their investment money, and they say, I'm going to invest in the place I work and the work that I do.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

And I'm going to stick with this for the rest of my career, and I'm going to turn this into the single largest, most valuable asset I own, my 10% of this fast-growing company.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Now, while it may be hard to replace them, you have a better way to hold on to them.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

So bring the good talent in.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Don't let them go.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

What's the best way to hang on to them?

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Ownership.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Let me give you another answer to the question.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

Because, you know, I literally, you know, one of the books I wrote was for the 30-year-olds.

Escaping the Drift with John Gafford
Building a Business That Outlasts You (David Grau Sr.)

And it said, listen, you could take your skills and go hang out your own shingle.