In this conversation, Cliff Locks shares his insights on building successful businesses, the importance of mentoring the next generation, and the responsibility of teaching financial literacy within families.
Only 3% of people write their goals down — and it changes everything. Cliff Locks compares written goals to programming your internal supercomputer: his son wrote 'billionaire' on a legal pad at 14 and earns near seven figures at 32, self-made.
Talk about money at the dinner table. 60–70% of family wealth is gone by the second generation and 90% by the third: walk kids through the mortgage, insurance, and utilities, record the grandparents' founding story on video, and let each generation add to it.
Build to sell. Across three exits — the last to a Fortune 5 via KKR — his formula was defining the vision of success as the exit, hiring bright people and overpaying them so 'they stay and they play', and building a bench strong enough to run without him.
Guide, don't dictate. Open doors — internships, shadowing, merit-badge-style career exploration — but let kids walk through them: it's their goals, not yours, that create ownership.
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