David Grau Sr.
๐ค SpeakerAppearances Over Time
Podcast Appearances
Huh, I guess I am replaceable.
And it was the best thing that could have happened to them.
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.
I mean, you just have to practice that.
Second, give them an opportunity to have more than just a paycheck.
And so equity.
Create an ownership track.
I mean, you could still be a 51% owner or more.
You can still be the CEO, and you can be chairman of the board.
You're not going to give up control.
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.
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.
Now, while it may be hard to replace them, you have a better way to hold on to them.
So bring the good talent in.
Don't let them go.
What's the best way to hang on to them?
Ownership.
Let me give you another answer to the question.
Because, you know, I literally, you know, one of the books I wrote was for the 30-year-olds.
And it said, listen, you could take your skills and go hang out your own shingle.