Embracing The Holtz Way: A Multi-Million Dollar Story // Rick Holtz of H.J. Holtz & Son, Inc.
Join us for an inspiring conversation with Rick Holtz, the third-generation owner of H.J. Holtz & Son, and newest coach with the Consulting4Contractors team. We uncover the secrets of transforming a family business from a $300,000 company to a multi-million-dollar organization employing over 60 people. You won't want to miss this insightful journey as Rick shares his experiences of taking the reins of his family's business and scaling it in just 12 years through embracing challenges and opportunities.
Throughout our discussion, we dive into what it takes to be a successful owner and leader, including the essential aspects of delegation, trusting others, and fostering a strong company culture. Rick provides valuable insights into "The Holtz Way," the core values that have driven H.J. Holtz & Son's success, emphasizing teamwork, customer care, and the importance of trust in building a thriving business. By understanding and embracing these principles, Rick has been able to elevate his family business to new heights.
Get ready to absorb invaluable advice for growing contractors as we explore the importance of mentorship, reflection, and self-confidence. Learn how to find the right people to collaborate with, invest in their capabilities, and trust in their potential. Hear about Rick's experience with delegation, embracing challenges, and his vision for the future of his company. This episode is packed with knowledge and inspiration you won't want to miss!
About Rick Holtz:
Having joined his father and grandfather’s business in 1994, Rick has been vital in the growth and modernization of H.J. Holtz & Son, Inc. Now President, he has been instrumental in initiating relationships with contractors not only in the Richmond area, but in Charlottesville, Fredericksburg, Williamsburg, and Tappahannock, VA to name a few. He has also added technology to the business and is making the most of modern amenities such as specialized computer software, digital photography, and paint removal equipment. Rick has maintained and built on the strong work ethic and professionalism set forth by his father and grandfather. He is respected for his determination and integrity in his business and with his family.
----Links from this Episode----
Throughout our discussion, we dive into what it takes to be a successful owner and leader, including the essential aspects of delegation, trusting others, and fostering a strong company culture. Rick provides valuable insights into "The Holtz Way," the core values that have driven H.J. Holtz & Son's success, emphasizing teamwork, customer care, and the importance of trust in building a thriving business. By understanding and embracing these principles, Rick has been able to elevate his family business to new heights.
Get ready to absorb invaluable advice for growing contractors as we explore the importance of mentorship, reflection, and self-confidence. Learn how to find the right people to collaborate with, invest in their capabilities, and trust in their potential. Hear about Rick's experience with delegation, embracing challenges, and his vision for the future of his company. This episode is packed with knowledge and inspiration you won't want to miss!
About Rick Holtz:
Having joined his father and grandfather’s business in 1994, Rick has been vital in the growth and modernization of H.J. Holtz & Son, Inc. Now President, he has been instrumental in initiating relationships with contractors not only in the Richmond area, but in Charlottesville, Fredericksburg, Williamsburg, and Tappahannock, VA to name a few. He has also added technology to the business and is making the most of modern amenities such as specialized computer software, digital photography, and paint removal equipment. Rick has maintained and built on the strong work ethic and professionalism set forth by his father and grandfather. He is respected for his determination and integrity in his business and with his family.
----Links from this Episode----
- Open invitation for a free discovery call with Scott Lollar/Rick Holtz
- Consulting4Contractors’ Website
- H.J. Holtz & Sons, Inc.
- H.J. Holtz & Sons on Instagram
- "The Holtz Way" Company Values
- Check out this video of Consulting4Contractors' Operations Module, one of our flagship Done-For-You tech offerings
- Connect with C4C on Instagram
- Join the C4C community
- Connect on LinkedIn
- Submit to be a guest on our podcast
Credits:
- Scott Lollar: Host & Founder of Consulting4Contractors
- Rick Holtz: President, H.J. Holtz & Son, Richmond, VA; Coach, Consulting4Contractors
- Justin Hange: Original music, artwork, transcripts, show notes, audio engineering
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Episode Highlights:
* Taking Over a Family Business | 0:14:19 - 0:15:28 (69 Seconds)
Rick:
And I feel like that was a real key to me And one of the biggest things people will say oh, you're a third generation business. Having your dad build a business and you come in is easy. That's not easy. Building a business from scratch is not easy. And I have the utmost respect for people like that. But coming into a business that has someone else's personality and someone else's name on it, that has its own challenges as well.
* Learning to Be an Owner | 0:20:29 - 0:21:44 (76 Seconds)
Rick:
But I think the first major thing he really did is taught me what it meant to be an owner. Bill at first was like, "Do you go to the paint store?" And I was like, "Yeah, I go to the paint store. I'm a painter." (Bill) "Come on, you can't go to the paint store anymore." And I'm like, "Really, but I like those people there, they're nice people!" (Bill) "No, an owner of a paint company does not go to the paint store." And that's such an elementary thing, and it's very basic. But that was a pinnacle kind of statement for me, because it was something I did for how many years? What, maybe almost 20 years or something like that, or 16 years, 16 years? And all of a sudden not to do it anymore? So I had to understand what it meant to be an owner and to get things done through other people, cause that's really hard.
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Episode Chapters/Summaries:
(0:00:00) - Growing a Multi-Million Dollar Painting Company (9 Minutes)
Rick Holtz, the third-generation owner of H.J. Holtz & Son in Richmond, Virginia, shares his story of how he took his family’s business from making $300,000 in revenue to a multi-million-dollar business with over 60 employees. We discuss the challenges of taking on an existing business and the importance (but eventual impossibility) of consistently saying yes to opportunities and getting the business in front of more people.
(0:09:11) - Building a Multi-Generational Business (11 Minutes)
Rick shares his journey of taking over his family's business and scaling it to a $5 million business in 12 years. He talks about the difficulties he faced during the financial crisis of 2008 and how he relied on the help of Bill Silverman, his personal coach, to get back on the right track. He also discusses the importance of relying on others and learning from their experiences in order to grow and succeed.
(0:20:29) - Becoming a Successful Owner/Leader (6 Minutes)
Rick shares the importance of understanding what it means to be an owner, and how to delegate and trust other people to grow and shine in their roles. Rick's journey of learning how to become more of an owner, delegating and allowing his team to flourish, and the importance of alignment and culture in his business is discussed. The need for an orchestrated system of roles and how marketing, sales, production and human resources must all work together for success is also discussed.
(0:26:15) - The Holtz Way (3 Minutes)
We discuss the core values at H.J. Holtz Son and the importance of teamwork, caring for customers and employees, and understanding the importance of trust in creating a successful business. We explore how building a culture of trust and caring for each other can result in higher quality work, increased customer loyalty, and greater profits for the company. By understanding the "The Holtz Way", Rick Holtz was able to take his family business from annually making $300k to $5 million in just 12 years.
(0:29:41) - Company Culture With Empathy and Rhythm (8 Minutes)
We emphasize the importance of a team working together and understanding the interconnectedness of the three core values of caring for customers, employees, and referrals. Rick explains how his father ran his business and instilled in him a sense of prioritizing people over profits. Rick shares how he establishes their goals and rhythm through the annual meeting and monthly company meeting, and how they recognize employees. Finally, we discuss their work rhythm and how he stays connected with the field and engages with the different levels of the business.
(0:38:05) - Advice for Growing Contractors (8 Minutes)
We explore the importance of having a sounding board or mentor to rely on as a business owner, as well as the importance of reflection and self-confidence. We discuss finding the right people to work with, and the importance of trusting and investing in them. Rick shares his experience of learning how to delegate and how to let people grow and shine in their roles. We touch on the reality of having employees that don't work out, and how to embrace the lessons learned and trust in the process. Finally, we discuss Rick's vision for the future and the importance of consistent growth.
Episode Highlights:
* Taking Over a Family Business | 0:14:19 - 0:15:28 (69 Seconds)
Rick:
And I feel like that was a real key to me And one of the biggest things people will say oh, you're a third generation business. Having your dad build a business and you come in is easy. That's not easy. Building a business from scratch is not easy. And I have the utmost respect for people like that. But coming into a business that has someone else's personality and someone else's name on it, that has its own challenges as well.
* Learning to Be an Owner | 0:20:29 - 0:21:44 (76 Seconds)
Rick:
But I think the first major thing he really did is taught me what it meant to be an owner. Bill at first was like, "Do you go to the paint store?" And I was like, "Yeah, I go to the paint store. I'm a painter." (Bill) "Come on, you can't go to the paint store anymore." And I'm like, "Really, but I like those people there, they're nice people!" (Bill) "No, an owner of a paint company does not go to the paint store." And that's such an elementary thing, and it's very basic. But that was a pinnacle kind of statement for me, because it was something I did for how many years? What, maybe almost 20 years or something like that, or 16 years, 16 years? And all of a sudden not to do it anymore? So I had to understand what it meant to be an owner and to get things done through other people, cause that's really hard.
----------------------------------------------
Episode Chapters/Summaries:
(0:00:00) - Growing a Multi-Million Dollar Painting Company (9 Minutes)
Rick Holtz, the third-generation owner of H.J. Holtz & Son in Richmond, Virginia, shares his story of how he took his family’s business from making $300,000 in revenue to a multi-million-dollar business with over 60 employees. We discuss the challenges of taking on an existing business and the importance (but eventual impossibility) of consistently saying yes to opportunities and getting the business in front of more people.
(0:09:11) - Building a Multi-Generational Business (11 Minutes)
Rick shares his journey of taking over his family's business and scaling it to a $5 million business in 12 years. He talks about the difficulties he faced during the financial crisis of 2008 and how he relied on the help of Bill Silverman, his personal coach, to get back on the right track. He also discusses the importance of relying on others and learning from their experiences in order to grow and succeed.
(0:20:29) - Becoming a Successful Owner/Leader (6 Minutes)
Rick shares the importance of understanding what it means to be an owner, and how to delegate and trust other people to grow and shine in their roles. Rick's journey of learning how to become more of an owner, delegating and allowing his team to flourish, and the importance of alignment and culture in his business is discussed. The need for an orchestrated system of roles and how marketing, sales, production and human resources must all work together for success is also discussed.
(0:26:15) - The Holtz Way (3 Minutes)
We discuss the core values at H.J. Holtz Son and the importance of teamwork, caring for customers and employees, and understanding the importance of trust in creating a successful business. We explore how building a culture of trust and caring for each other can result in higher quality work, increased customer loyalty, and greater profits for the company. By understanding the "The Holtz Way", Rick Holtz was able to take his family business from annually making $300k to $5 million in just 12 years.
(0:29:41) - Company Culture With Empathy and Rhythm (8 Minutes)
We emphasize the importance of a team working together and understanding the interconnectedness of the three core values of caring for customers, employees, and referrals. Rick explains how his father ran his business and instilled in him a sense of prioritizing people over profits. Rick shares how he establishes their goals and rhythm through the annual meeting and monthly company meeting, and how they recognize employees. Finally, we discuss their work rhythm and how he stays connected with the field and engages with the different levels of the business.
(0:38:05) - Advice for Growing Contractors (8 Minutes)
We explore the importance of having a sounding board or mentor to rely on as a business owner, as well as the importance of reflection and self-confidence. We discuss finding the right people to work with, and the importance of trusting and investing in them. Rick shares his experience of learning how to delegate and how to let people grow and shine in their roles. We touch on the reality of having employees that don't work out, and how to embrace the lessons learned and trust in the process. Finally, we discuss Rick's vision for the future and the importance of consistent growth.
