The next generation

One of the pressing problems that often dwell in the minds of successful entrepreneurs has to do with succession planning. How will the entrepreneur impart to his children the wisdom, values and skills that made the former successful.  A popular story among the members of the local country club is the difference between this rich man and his son. The rich man plays golf everyday and shows up at the club in an 8 year old car, and is as frugal and practical as they come. Later in the day, his son shows up, in the latest and most expensive sports car, attired in the latest fashion and bejeweled in the latest trinkets and technology. The friends of the rich man, knowing how hard he worked for his wealth, would often question the latter about his son. The rich man would reply with a wry grin, “I am the son of a poor man, he is the son of a rich man.”

I received an email about two stories, one of Al Capone’s lawyer and the second about a World War II hero. Let me share it with you.  Al Capone, the infamous gangster of Chicago used to employ a brilliant lawyer named “Easy Eddie”. Eddie was very good at his job, allowing Al Capone to consistently run rings around the law. As a result, Eddie was rewarded handsomely with a huge mansion, cars, and whatever he desired. But Eddie’s most valuable possession was not material, but his son, whom he adored and showered with everything.

He tried to teach his son principles and values that he wished he could uphold. He wanted his son to be a much  better man than he was. He wanted his son not to follow in his footsteps but to make something of himself and contribute to society. But, unfortunately, he realized that he will never be able to teach his son to do the right thing if he himself did not.

He decided to set an example and repent. He turned himself in to the authorities and confessed to everything. He made the sacrifice to teach his son about doing the right thing, whatever the cost. His testimony played a key role in incriminating Al Capone. Less than a year later, “Easy Eddie” died in a blaze of gunfire, killed no doubt by his spurned “boss”. 

The second story is about a World War II hero named Lieutenant Commander Butch O'Hare. He was a fighter pilot assigned to the aircraft carrier Lexington in the South Pacific. One day, while on a mission with his squadron, he noticed that his fuel was low. He was ordered to return to the carrier. On the way back, he saw an enemy squadron of Japanese Zeros heading for a sneak attack on the USS Lexington. He had no way of warning the fleet but knew that he could not allow them to continue with their plan.

He dove into the enemy formation, guns blazing away. He attacked enemy plane after enemy plane with desperate fury, knowing how many lives were at stake if the enemy squadron made it through. Soon, he ran out of ammunition, but valiantly did not relinquish his attack. He dove at the enemy planes, turning his plane into a missile, hoping to clip or crash into as many of the enemy as possible.

The Japanese fighter pilots had never seen anything like it. Butch O'Hare’s actions so unnerved them that they broke off the attack and headed off in another direction. Amazed to be alive, Butch flew his tattered plane home to the carrier. Upon landing, he made a report of the events to the incredulous looks of his senior officers. They reviewed the film from the gun mounted camera and the truth was revealed. Butch had downed five enemy aircraft and saved the carrier.

For his valiant efforts that fateful day of February 20,1942, Butch was awarded the congressional Medal of Honor, the first naval aviator ever to do receive such an honor. He also became the U.S. Navy’s first ACE of World War II. A year later, he was killed in action. He died at the age of 29. But his country and his hometown would not allow the memory of his actions to be forgotten. The airport in the City of Chicago was named in honor of the young man, O’Hare Airport. There is a memorial located in the airport between terminals 1 and 2, where Butch O’Hare’s statue and a display containing his medal of honor is displayed.

What is the relation of the two stories? Would you believe me if I told you that Lt. Commander Butch O’Hare is “Easy Eddie’s” son?  For many successful entrepreneurs, the question must be constantly asked, what are we really leaving for the next generation? If the question is not asked early or often enough, the next generation will not exceed the achievements and success of their fathers, but will be more known as “sons of rich men.”

Let’s follow the examples of these ordinary individuals as they strive to make a difference. Each week, lets all get together and share knowledge, stories, experiences, information, all for the sole purpose of getting One Step Up.

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