Construction Genius

If you're thinking about selling your construction company and gaining the best outcomes, it's imperative that you take the necessary steps today towards making sure it's saleable. The process is far more complex than just putting up an announcement that it's for sale, especially since potential buyers will have to look into a number of things before they even consider buying your company.

In this week's Construction Genius podcast episode, I am joined by Brent Beshore, founder and CEO of Permanent Equity. We talk about transfer issues that most companies face and key things buyers are looking for in a company. We also discuss what nepotism is and how to avoid it. This is a very informative and helpful discussion especially for those who are planning on selling their companies.

Tune in today and gain amazing insights from this topic.

What's Discussed in This Episode:

0:00 Introduction 1:40 The 1 thing that makes your business attractive for a potential buyer2:22 Biggest transfer issues in companies 3:51 Delegating decision making roles to other people in the company 6:35 Allowing creative abrasion 9:11 How to systematize intuition 11:18 Key KPI's looked at during company acquisition12:14 Understanding the things you are monitoring 14:33 Core things 15:25 Defining nepotism 15:54 Overcoming the tendency to nepotism 18:22 Best structures to attract buyers into investing in companies20:43 Picking the next generation successfully25:31 Immediate steps to put yourself out to buyers28:57 What Brent's company Permanent Equity is about 32:26 How to get in touch with Permanent Equity33:21 Brent's restaurant recommendation

About the Guest:

Brent Beshore is Founder and CEO of Permanent Equity which was established in the year 2007. He specifically leads the acquisition and diligence teams of his company while supporting portfolio company operators. Aside from Permanent Equity, he also sits as one of the board of directors of Tandy Leather and is active in Love INC, a mid-Missouri-based non-profit.

Resources:

• Visit Permanent Equity's website (https://www.permanentequity.com/)

Books mentioned in this episode:

• Checklist Manifesto (https://www.amazon.com/Checklist-Manifesto-How-Things-Right/dp/0312430000/)

Restaurant recommendation:

• Booches (https://www.tripadvisor.com/Restaurant_Review-g44257-d1176434-Reviews-Booches_Billiard_Hall-Columbia_Missouri.html)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

In today's episode, I am joined by Dave Kievet, the president and COO of The Boldt Company. He has been in the industry for more than thirty years. He and I discuss why being too tactical in business is not advisable, how relationships affect your construction company, and how your professional and personal life interact.

This episode will be very insightful for many leaders at all stages of their careers. So, tune in now and learn important notes to hone your leadership skills.

What's Discussed in This Episode:

1. Dave's definition of leadership
2. • Instilling hope and courage to others
   • Using a check-in sheet
3. Defining quality time
4. Lack of leadership in the construction industry linked to being too tactical
   • Embrace failures and learn from it
   • Power of relationships
   • Importance of feedback or mentoring
   • Observing other leaders in the industry
5. Shifting from being too tactical to being more strategic
6. Practice of self-reflection
7. How to spend more time with your feet up on the desk
   • Allow others to be successful
   • Understanding how to deal with problems
8. Insights to effective delegation of responsibilities or tasks
   • Importance of a well-structured background
   • Learning trigger points and keeping a cool head
9. Advice to leaders about role delegation and responsibilities
   • Advantages of the new generation
   • Struggles of new leaders
10. Learnings from the new generation of leaders
11. How to deal with different generations in the business
12. Dealing with challenges with your own motivations
13. Detecting red flags of burn out in leaders
14. Dave's personal experience and professional notes

About the Guest:

Dave Kievet is the president and chief operating officer of The Boldt Company, one of the leading construction firms in the country. He has over thrity years of experience in the field not only as an engineer but also as a leader. He specializes in business development and lean construction. As of now, he supervises all operating groups throughout the country.

Resources:

• Dave Kievet Website (https://www.theboldtcompany.com/)
• Dave's restaurant recommendation: Silver Coach Restaurant (https://www.silvercoachrestaurant.net/)

Books mentioned in this episode:

• Think and Grow Rich by Napoleon Hill (https://www.amazon.com/Think-Grow-Rich-Publication-Foundation-ebook/dp/B07P896HSJ/)
• Everybody Matters: The Extraordinary Power of Caring for Your People Like Family by Bob Chapman and Raj Sisodia (https://www.amazon.com/Everybody-Matters-Extraordinary-Caring-People/dp/1591847796)
• The Ideal Team Player: How to Recognize and Cultivate The Three Essential Virtues by Patrick M. Lencioni (https://www.amazon.com/Ideal-Team-Player-Recognize-Cultivate/dp/1119209595)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

Half of today's workforce are Millennials, and they are in critical leadership roles in most construction companies.

In this week's podcast episode, I had a great discussion with Justin White, the CEO of K&D Landscaping and a repeat guest, about the generalizations that the younger generation is facing up against, and how he managed to break that stereotypical mold. We also talked about how communication is key to be able to connect with people from different generations, and the future of the construction industry.

Whether you are a young, aspiring leader or a veteran in the construction field, tune in to this episode, gain some incredible insights on the future generation of leaders, and be a successful leader in a multigenerational team.

What's Discussed In This Episode:

0:00 Introduction 2:35 Justin's long-term goals, his success, and breaking the stereotype 6:10 Justin and his young leadership team 7:05 Humility being the underlining value in the construction business 8:43 Being a young leader and the social stigma against millennials 11:00 Communication is the weakness of today's generation 13:47 Entitlement is the result of instant gratification for the younger generation 15:09 The downsides and upsides of Generation Z 18:22 How Justin ensures communication within a multigenerational leadership team 21:06 Solving problems vs seeking opportunities 24:19 Self-awareness gives you vision and direction 25:55 Justin's advice to millennials on succeeding in the construction industry

About the Guest:

Justin White is the President of K&D Landscaping a full-service construction and maintenance landscape company located in Santa Cruz, California.

Resources:

• 21 Irrefutable Laws of Leadership

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

Almost everyone has already heard about "branding," but hardly anyone ever knows what it truly means. How is it different from logo-making or putting up a business website? And why should it matter to a construction company?

When we think of branding, the first thing that comes to mind is a company logo. However, the truth couldn't be further from the misconceptions that surround it. A brand is something more than just a visual representation of your company. And that's what we're here to discuss with Skot Waldron, a world-renowned Brand and Communication Strategist. In today's episode of Construction Genius, we put a lens on the true meaning of branding. We also talk about the two types of branding, its four key aspects, and why building your brand should start from within.

Learn how you can develop a better brand for your company by tuning in to this episode now!

What's Discussed in This Episode:

02:24 What is branding? 03:42 How to develop a strong internal brand 05:04 A strong external brand roots from a strong internal brand 06:28 Driving loyalty in an organization through purpose 08:34 Why companies need to embody their values 10:20 Leveraging purpose and values in building an internal brand 11:23 The difference between purpose, values, mission, and vision 12:48 Mission and vision defined 14:09 The essence of vision in establishing the external brand 15:33 Steps in creating your company's vision 17:20 Five metrics that will measure your company's vision alignment 20:16 How to fix your internal brand 22:36 The reason why some outside consultants are unable to bring positive results 24:25 Getting started with developing your internal brand 25:45 The best way to identify your company's priorities 26:45 Is external branding more important than internal branding? 28:35 The essence of branding in construction companies 30:36 Skot's restaurant recommendation

About the Guest:

For the past 19 years, Skot Waldron's work for clients such as J.P. Morgan Chase, CDC, Georgia Tech, Royal Caribbean, Sesame Workshop, The Home Depot, and The Coca-Cola Company has included national and international communication programs.

His focus is on helping people and businesses learn how to communicate more effectively. Skot believes you have to be healthy on the inside (culture) in order to truly be healthy on the outside (sales and marketing).

In addition to running his own agency, Skot has been teaching brand development at the Miami Ad School in Atlanta. He has also traveled to different cities in the U.S. to conduct communication training and speaks about how the idea of branding pertains to us as individuals, teams, families, and businesses.

Resources:

• Register for free at GiANT (https://www.giant.tv/30days)
• Visit Skot Waldron's Website (https://skotwaldron.com/)

Skot's Restaurant Recommendation:

• Waffle House (https://www.wafflehouse.com/)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

Financial issues can be a deep challenge for many contractors. While the situation is often unavoidable, there are ways to overcome these financial struggles and grow your business.

In today's episode, I welcome Jesse Weissburg, the co-founder and chief commercial officer of Billd, a company specialized in providing accessible funds to different contractors. Jesse discusses the importance of leverage financing. He also delves into why most banks don't take risks with contractors, and the kind of help that Billd provides for contractors looking for financing options to sustain and grow their business.

So, tune in now to learn important notes about leverage financing.

What's Discussed in This Episode:

1. What is leverage financing and who needs it [01:48]
2. • Negative views on financing in the construction industry [03:32]
   • Distinguishing the right type of financing [06:27]
3. Leverage financing over cash [05:52]
4. Why traditional financing is difficult for contractors [07:10]
   • Factoring [08:41]
   • Line of credit [10:08]
   • Material financing [11:31]
5. Different financing options and their sustainability [08:34]
6. The benefits of the Billd approach [13:10]
7. How general contractors can help their subs financially [14:35]
8. The processes of Billd [15:45]

About the Guest:

Jesse Weissburg started his career in the financial services industry more than a decade ago. He is an expert in providing sales and marketing strategies for different companies. His expertise and knowledge about the business community's financial aspects make him a reliable and competent key person in the field right now.

Resources:

• Jesse Weissburg Website (https://billd.com/)
• Franklin's Barbeque (https://franklinbbq.com/)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

The world of business consists of peaks and valleys. Sometimes, you rise. Other times, you fall. So when your business suffers a tremendous loss, should you choose to stay at the bottom of the pit? Or should you bounce back up, taking the lessons that you've learned with you as you go?

In every failure and mistakes made, there is always a lesson to learn and an opportunity to do better. This week at Construction Genius, Bill Schultz, President of W.M. Schultz Construction, joins us once again to share with us how the things that he learned from his father's business helped shape his company to what it is today. He also discusses how the shutdown of his father's business impacted his family and why being able to service your customers well is key to a business' success.

If you find yourself facing challenges and need some help overcoming them, tune in to this episode and be inspired with Bill's amazing story.

What's Discussed in This Episode:

1. Events that led to the creation of Bill's company in 2000 [01:58]
2. • What got him into construction [02:57]
   • Standing up for co-workers against senior employees [07:08]
   • Choosing not to involve his father in internal conflicts [09:10]
   • Becoming a foreman and a better construction leader [11:22]
3. Working in his dad's company [05:01]
   • Being able to detach from emotions to make the best decisions [13:20]
4. The most important qualities of a good leader [12:55]
   • Shutting the family business down [16:40]
5. Bill's work relationship with his family [15:44]
6. Key lessons that he learned and applied to his business [19:01]
   • How his dad helped him in building his business [21:46]
7. The impact of the business shutdown to Bill's family [20:19]
8. Key takeaways on his father's legacies [23:08]
9. His father's next step after shutting down the company [26:05]
   • Things that he wanted to do just like how his father did in his company [29:30]
10. Bill's initial challenges upon starting his business [28:41]
11. Important things that a construction executive should do [31:34]
12. Three pieces of advice Bill would give to his younger self [33:13]
13. Envisioning a construction business that runs independently through systems [34:23]

About the Guest:

Bill Schultz is the President of W.M. Schultz Construction, Inc., a company based in Ballston Spa, New York, providing services for water and wastewater treatment facilities to bridges, site work, industrial facilities, cast in place concrete, and design-build. Being in business for more than 20 years, it has become one of the dominant players in the construction industry in New York.

Resources:

• Listen to Episode 92 "The Power of Communicating Your Company's Values and Strategy, Everyday" with Bill Schultz (https://www.ericanderton.com/podcast/the-power-of-communicating-your-companys-values-and-strategy-everyday-ep-92/)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

You know you have to do it, but crafting and executing a succession plan is not easy. There is a proper way of structuring it that will allow you to enjoy the rewards that a successful succession plan brings both emotionally and financially.

In today's episode, Dan Darchuck and I will be discussing everything about succession plans and why it is essential to your construction company. Importantly, Dan will explain why emotions play a crucial role in succession planning, why knowing the worth of your company matters, and when entrepreneurs should start making succession plans for the company.

Learn the proper way of creating a succession plan for your construction company!

What's Discussed in This Episode:

1. Why construction companies' succession plans fail [01:32]
2. • Choosing the wrong direction or path [02:33]
   • Other uncontrollable intrusions [04:03]
   • Which element is tied to making bad decisions [08:00]
3. Five elements tied to succession plans [04:35]
4. Figuring out what the business is worth for the entrepreneur [09:06]
   • How to choose the best option and avoiding pitfalls [12:06]
5. Best ways for a construction company to maximize opportunities [10:45]
   • Looking at the emotional investment and levels of risks [17:06]
   • Real time vs. economic [18:42]
6. Fundamental parts of the succession plan [14:25]
   • When to start making the succession plan [23:57]
   • Thinking ahead and preparing for anything [29:52]
7. Steps to take for a successful transition [21:41]
8. Who are the team players involved in the succession planning [30:54]
9. Getting right back on track after experiencing difficulties [33:55]
10. Seeing the construction company as a sports franchise to find the right talent [35:50]
11. When to unveil the succession plan [38:14]
12. Three action plans for construction company owners [40:06]

About the Guest:

Dan Darchuck is an expert financial adviser with over ten years of experience. He has helped many entrepreneurs create better investment strategies and financial decisions for the growth of their respective companies. He continues to be one of the most trusted professional financial advisers in practice.

Resources:

• Dan Darchuck Website (https://www.topturncapital.com/)
• Topturn Capital Phone number: 831-324-0481

Books mentioned in this episode:

• The 7 Habits of Highly Effective People by Stephen Covey (https://www.amazon.com/Habits-Highly-Effective-People-Powerful/dp/0743269519)
• The Succession Breakthrough by Dan Darchuck (soon to be released) https://www.topturncapital.com/the-succession-breakthrough

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

Marketing is how you get your ideal client to know you, like you, and trust you enough to do business with you.

In today's episode, I welcome Allan Dib, an established marketer and entrepreneur with over twenty years of experience in the field. His marketing expertise has helped many companies build better marketing plans. He and I discuss the importance of knowing what your clients need, how understanding the "client journey" is vital to shaping your marketing message, why branding and design isn't necessary to successful marketing, and much much more.

Listen to this episode and learn essential tips to strengthen your marketing strategy and attract your ideal clients.

What's Discussed in This Episode:

1. What is marketing [02:00]
2. • Defining the ideal client [02:26]
3. The principle of unequal dollar [04:30]
   • General messages vs specific messages [06:36]
   • Addressing what the client is looking for [07:15]
4. Turning information into a message which attracts the right customers [06:14]
   • Role of testing and effective marketing [08:50]
5. How to emphasize the message to the target audience [08:09]
6. Distinguishing marketing from sales [10:41]
   • Results-oriented content marketing [13:16]
   • Thinking ahead and looking at touch points [13:57]
7. How marketing works in the construction industry [12:39]
8. Biggest mistake people make with their marketing strategy [16:14]
   • Focus on a specialization [17:49]
   • Become an educator and take on the leadership role [18:20]
   • Engaging in content creation [18:55]
9. How to stand out from the crowd [17:35]
   • Setting metrics to measure growth or productivity [21:07]
10. Hiring a marketing coordinator [19:40]
11. Action plans to kickstart your marketing [22:56]

About the Guest:

Allan Dib is an outstanding entrepreneur and marketer who specializes in providing marketing advice, strategies, and options for different businesses. Over the years, he has helped more than 250,000 businesses find the perfect marketing solution and plan suitable for their company. He has experience in email marketing, team building, and business consulting—all of which make him an excellent person to ask marketing questions to.

Resources:

• Allan Dib Website (https://successwise.com/)
• You can reach Allan Dib through his email: ([email protected])
• Allan's restaurant recommendation: Nirankar (https://nirankar.com.au/)

Books mentioned in this episode:

• The 1-Page Marketing Plan: Get New Customers, Make More Money, And Stand out From The Crowd by Allan Dib (https://www.amazon.com/1-Page-Marketing-Plan-Customers-Money/dp/1989025013/)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

When your business grows, challenging situations of all sorts arise. How can you effortlessly lead your business through growth pains and achieve long-term success?

In today's episode, I am joined by Claire Chandler, a professional consultant with years of experience in the field. We discuss why growing pains happen in the business, how to adapt well to the growth, and why culture is the foundation of any successful business. She will provide a framework that helps businesses find the right path towards success.

So, join us today to learn more about effortlessly leading your business through growth pains.

What's Discussed in This Episode:

1. Why do companies struggle during growth period [02:06]
2. When do entrepreneurs begin to see growth in the company [03:16]
   • Employees are informed by the culture [05:13]
   • Cultural gap can be detrimental for the business [06:21]
3. Culture is the bedrock of your business [04:34]
   • New talents provide feedback [08:30]
   • Hiring the first and right person for the job [10:47]
4. Maintaining core culture while adapting to growth [07:11]
   • Acknowledging the needs of the owner [15:03]
   • Using assessments [15:54]
5. Process of finding compatible individuals to be part of the company [14:24]
   • Getting the ideas out [19:03]
   • Having a sounding board [19:54]
   • Using and scheduling "thinking time" [21:21]
   • How busy entrepreneurs utilize thinking time [24:40]
6. The consequences of a company going in circles and how to address them [17:27]
   • Finding the founder's sweet spot [31:15]
7. Effective things to help get into the growth path [26:56]
8. Why looking at the past is essential for the business [32:53]
9. How to encourage entrepreneurs to follow their goals [35:50]
10. Handling employees who are not on the same path with the entrepreneur [39:27]
11. How to get on the healthy growth path in 30,60,90 days [42:00]
12. Powerful questions to push the progress of the company [44:50]

About the Guest:

Claire Chandler, a seasoned author and speaker, is on a mission to help C-level executives find success and overcome bottling issues caused by the business expansions and growth. She has communicated with small and large companies in the industry to provide professional input for their business structure.

Resources:

• Claire Chandler Website (https://www.clairechandler.net/) and (https://www.profitableswagger.com/)
• Claire's restaurant recommendation: DiMaio's (http://www.dimaios.com/)
• Innermetrix Website (https://innermetrix.com/)

Books mentioned in this episode:

• Leading Beyond a Crisis (https://www.amazon.com/gp/product/1777256313?pf_rd_r=7RFF4QPCAWHQ3KV0F8KR&pf_rd_p=edaba0ee-c2fe-4124-9f5d-b31d6b1bfbee)
• The Whirlpool Effect (https://www.amazon.com/gp/product/B07DNRSVLL/ref=dbs_a_def_rwt_hsch_vapi_tkin_p1_i1)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!

We all want clients to do business with us over the course of many years and this surely is not an easy feat as we know that clients come and go. If we want loyal clients, it is essential that we strive to build good relationships on a deeper level. Who you are as a person will contribute a lot to achieving long-term client relationships because if they like you, if they trust you, they are sure to do business with you - be it thirty years or more!

This week's Construction Genius podcast episode delves into what building relationships with clients mean and what it entails. Our guest, Cody Lowry, shares how he maintains good relationships with clients even to the point where he's already considered family. Cody and I also discuss what having a personal brand is and how it affects businesses, how construction executives can build their personal brand, and a lot more.

Tune in to this episode today!

What's Discussed in This Episode:

1. Building business on relationships [1:44]
2. Dealing with clients and addressing issues [4:10]
3. A thirty-year long relationship [5:38]
   1. How to develop your personal brand [8:45]
4. Build your personal brand [7:53]
5. Connecting with your clients on a deeper level [10:12]
6. The role of persistence and determination in long-term relationships [14:42]
7. Involve employees in the process [16:37]
8. Why people struggle in building relationships [18:02]
9. Working amidst the pandemic [19:39]
10. Staying relevant later on in the career [22:03]
11. Lessons from a young professional [22:49]

About the Guest:

Cody Lowry is the President of Intermark Group's Automotive and Retail Division. He is also the author of 'Schmooze: What They Should Teach at Harvard Business School'. People who know Cody would describe him as unique, authentic, genuine, and very funny. He is known as someone who walks the talk. These attributes have helped him forge client relationships that are decades long.

Resources:

• Reach Cody at LinkedIn (https://www.linkedin.com/in/cody-lowry-63a339a/)

Books mentioned in this episode:

• Schmooze: What They Should Teach at Harvard Business School (https://amzn.to/2K115bD)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!