Show Notes
Prompted by a brewery's 30th anniversary as a family operation, this episode tackles one of the trickiest topics in business: handing it down. Mike and Scott get honest about ego, entitlement, and what actually needs to be true for a succession plan to work.
Drinking beer from: Mount Brewery - Waimea Foggy IPA (6.5%) & Mermaid Mirth APA (6%) Eating a pie from: Patrick's Pies - Duck, Mushroom & Cheese
You'll learn: -The real first question to ask before bringing family into the business - whose ego is this really for?; -Why "gift it for free" and "sell it at a painful premium" both tend to backfire; -A fairer structure using open-market valuation plus negotiated terms; -The difference between a business's DNA (non-negotiable) and its culture (adaptable); -and why the "first generation builds, second grows, third kills" rule has exceptions worth studying.
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