Modernizing a 101-Year-Old Business The Learn-It-All Podcast Clip

Modernizing a 101-Year-Old Business The Learn-It-All Podcast Clip Your company's in its 101st year and um how are you how has it been taking it from let's say a legacy you know things were done this way to modernizing it where there where there struggles.

Modernizing a 101-Year-Old Business The Learn-It-All Podcast Clip

Internally to be to be able to get your your word in there you know outside of just learn it which which of course I love we for a long time we had a massive real estate company and a hotel chain.

And I'd always have conversations with my brother around real estate and my aunt for our hotels and we're always kind of joking and laughing about how was hey you know Walton Frank my dad and.

My grandfather This Is How They want to do it and and kind of the struggles to be able to you know on one hand you want to keep the Legacy and everything they've done but on the other hand you.

Really want to figure out how can we move how can we move this forward to be successful and evolved yeah that's a great great question because I I think that there's a blessing and a curse of.

Being a a legacy company uh that that's long term whether it's you know 29 years old or 101 years old there's there's uh the the I think the blessing of it the beauty of it is that you're so bought.

Into core values and Legacy and wanting to preserve that and and make sure that those last that that that Legacy that those core values last but I think the curse is is that alongside that Legacy.

And those core values come these sacred cows the idea is that like that's the way we've always done it or you know this is the Legacy and I think the Trap that we get into where we get into those.

Sacred cows is those really become anchors to our companies progress to to moving us forward in the right direction so I think we need to shift our perspective on what Legacy really means.

I think we when we tend to think of Legacy we think we think about the past we think about what did the founder represent which is important you know what did the founder what did the What.

Did the what did our predecessors represent what did they want to bring to the world but Legacy in my opinion is more about the future it's about what we represent how we're building out to uh.

What we want our our company or our family or our communities to look like seven generations down the line and I think that so so I think that the power if we can shift our perspective on.

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    Legacy we can start to uh entrench

    Ourselves more in our core values and not so much in our sacred cows we can start getting curious about where our business is going and we start putting a.

    Vision together that not only supports sustains us now and provides the lifestyle that we want but also builds a a future for the generations that are to come and that may want to work here so.

    That they want to be bought into it that they want to create and that they want to create their legacy for the next Generations down the line that's a really interesting uh.

    Thought because I feel like you know learn it can certainly resonate only in 29 years very similar Evolutions I want to ask a question based off of something I heard on your podcast when I was.

    Listening to it about this concept of organizations being like a family right that that that's kind of a taboo thing to say you know don't you don't want to confuse business with family because.

    They're such different entities so you talk a little bit about shifting more of a tribal culture more team based culture can you talk a little bit about that and you know what impact that has and what.

    Steps you took to shift that you know being a company that probably felt very familial for many many years yeah absolutely I think I think there's there's benefits to being uh you know.

    When we think about family I mean a lot of us can have a very warm reception to that to that note like hey yeah I love my family my my parents were great all that some people don't have that warm of.

    A feeling about family so when when they might not feel that or when they're you know coming into a company where we're saying hey yeah we're welcoming you as family it's like oh great you know I.

    Know how my relationship is my brother

    You know all that kind of stuff I I think that there's more it's more prone to you know maybe some of the negative family uh aspects that that exist in.

    Life I know that this is a bit of a contrarian View and I I totally get that but coming from a family business what I what I've seen is the idea that if we associate more as a tribe um you know.

    Throughout our human history uh human beings on every continent in every part of the world uh came up evolutionarily speaking in tribes and that's how they progress not in just not in just the.

    Family units were were components of that but the but the broader tribe and the benefit of thinking in terms of of of a tribal unit is is a tribe has kind of the same set of values same set of.

    Vision same thing that they want for the company and they're all working toward that greater good of what they want to achieve in in their Community or in the world so that tribal aspect is such a a.

    Key component of of how we look and how we move forward in the world so I think it's it's good to try to get everybody into uh I think evolutionarily speaking and from a human uh Psych ology.

    Standpoint we all want to be part of a community um we all have a family whether we like it or not of some kind or another but uh we all want to be a part of a community where we're all.

    Working toward the common goals the common good and that means that we can bring people in that are align that want to work towards the same goals as us uh that's that's kind of my philosophy on.

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