Alan Newkirk – Episode 162 – Leaving a Legacy of People
The business owned by this episode’s guest experienced one of its greatest periods of growth during the 2008 recession. With the current instability of the economy, learning how to prosper when everyone else is suffering is in your best interest. This guest will explain how he did it.
In today’s episode, Tim talks with Alan Newkirk (Owner of Newkirk Ventures and a Master Hearth Professional), someone he’s admired from afar for a long time. Alan began a very successful hearth parts company (Total Hearth) in the ‘90s, which was swiftly acquired by people Alan believed in when he was ready to retire. Now in retirement, when Alan looks back on his company, he is most proud of the people.
In this episode, you’ll learn:
- How to raise up people around you so they’re ready to take over once you’re gone (impacting people is the most important work you’ll do).
- How to win by putting all your eggs in one basket and watching it closely (going a mile deep and an inch wide is often the way to go).
- How to take advantage of a down economy (picking up the best talent during tough times is the key).
When you’re in your mid-sixties, where do you want to be? You could be in Alan’s position, where you’ve built and sold a business that has significantly impacted the people it has employed and will continue to do so for future generations. Or you could be stuck managing your business day in and day out, wondering when you’ll have to close down for good. If you want to be in the former spot, listen to this episode and learn to empower your people now so they can take over later.