Lessons From A $5B Family Enterprise Rebooting The Next Generation Growth, Michael Traub - CEO Stihl

Power tools are a staple of any garage whether you are a blue-collar worker, a hobbyist, or someone who has just bought a picture frame that needs hanging. Approximately 55 percent of Americans have at least five power tools in their possession, with a large portion of those people buying those tools during COVID-19, when we saw a spike in indoor and outdoor DIY home renovations. Many companies like, DeWalt and Milwaukee, experienced that big spike—as did STIHL, one of the world’s largest manufacturers of chainsaws and outdoor equipment. Founded in 1926, Stihl is still a family owned company with a global network of 55,000 dealers in 160 countries and 20,000 employees who delivered $5 Billion in revenue last year. The engine behind this growth is Chairman/CEO Michael Traub, who is with us for this episode of the Reboot Chronicles to get to the root of what makes Stihl successful, how they maintain their professional-grade competitive edge, the importance of making a product that is passed down from one generation to the next—as well as some great career advice and what keeps him up at night!