Episode 154 - Unbelievable Lessons Learned by Third Generation Family Construction Business Owner Mike Ghilotti

Disruptive Successor Podcast

In this episode of the Disruptive Successor Show, Jonathan Goldhill engages in an illuminating conversation with third-generation family business owner Michael Ghilotti. Spanning over 110 years, the Ghilotti family's construction business journey encapsulates a saga of entrepreneurial resilience, family dynamics, and evolving industry practices. Michael delves into the rich history of Gelati Brothers, chronicling its growth, challenges, and the generational shifts that shaped the company. The conversation explores the complexities of family dynamics within a business, the challenges of succession planning, and the crucial role of servant leadership in steering a legacy forward.

KEY TAKEAWAYS

• Navigating Generational Transitions: Understanding the evolution from second to third generations in a family business and the shifts in mindset, approach, and challenges they bring.
• Facilitated Project Partnering: Exploring a transformative approach to construction projects, emphasizing collaborative goals, mutual trust, and proactive stakeholder engagement for enhanced project outcomes.
• Succession Planning & Leadership Development: The importance of early succession planning, aligning family members' aspirations with the business's future, and nurturing leadership skills in the next generation.
• Challenges of Doing Business in California: Insights into the complexities and regulatory hurdles faced by businesses in California, including labor laws, employee rights, and navigating industry-specific regulations.

QUOTES

• "You can't start that discussion soon enough. Connecting with their vision and role is crucial."
• "When the business runs you and you don't run the business, that's not success." - Michael Ghilotti on redefining success in family businesses.
• "Creating a culture of organizational excellence is vital. A strong team committed to shared goals makes the owner's role easier."
• "California poses challenges from labor laws to industry regulations, making external alliances and advocacy vital for business resilience."

Connect and learn more about Michael Ghilotti in this link below.

• LinkedIn: https://www.linkedin.com/in/michael-ghilotti-8b79a111/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com