Waste seems inevitable when it comes to construction projects. But why does it occur? And how can you reduce it?   Shane Saltzgiver — founder and CEO of VEC, joins us today to discuss how we can reduce waste in our construction projects with the use of technology.   We also talk about the following points:   Why waste occurs, Ways to reduce waste, Misapplication of technology, and how to address it Plus, relieving the tension between the office and field when it comes to expectations versus reality   This discussion is a very practical one, you’ll surely get a lot of insights whether you’re a subcontractor or a general contractor. Press that play button and let’s get started!   Discussion Points:   0:00 Introduction   3:26 Why does waste occur?   6:01 About the correlation between rework and safety   9:11 Practical ways to reduce waste   12:23 Why does misapplication of technology happen in construction projects?   14:40 Bridging the gap between technological advancements and your team’s experience   16:51 Navigating the tension between the office’s aspiration and the perceived realities of the field crew   18:29 Is there a gap between technology-produced ideas and the actual structure in reality?   19:53 The importance of communication in building an efficient workflow from the office to the field   21:29 Who’s accountable for ensuring the organization’s continuous communication?   22:42 Effective ways to keep your team up to speed with technology   23:35 Breakthroughs in technology for construction: When will you see them happening?   26:18 How do you encourage most GCs to adopt new technologies into their projects?   29:00 Effective way to convince owners to use technology in projects   31:42 The future of the construction industry in the hands of the new generation in terms of their appetite for technology   35:21 About VEC and what they do in the construction industry   38:11 3 immediate steps to take to reduce waste on your next project   Resources:   Reach out to Shane through his email: shane@vec-us.com  Or visit his website: www.vec-us.com Or give Shane a call through this number: 415-410-3715 Restaurant Recommendation: https://www.lamarsf.com/   Do Your Project Executives Need to Become Better Leaders?   Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)    Connect with me via 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!

Construction Genius

Waste: Why It Occurs and How to Reduce It On Each Project You Build

When you get appointed into new positions or get promoted to a new role, you may feel overwhelmed. Why is that? Weren’t you hired or promoted in the first place because of your capability?   After getting off a call with one of my executive coaching clients, I decided to record this short video and talk about these important topics:   The reasons why you’re feeling overwhelmed,   Beating overwhelm with simple tips, and   What you need to do in order to be effective in your role   Check out today’s episode and discover practical tips you can apply to help you beat your overwhelm and start being effective!   Discussion Points:   0:00 Introduction   1:46 Why do we get overwhelmed in a new position?   2:23 Beat overwhelm by defining your role in the business   2:55 Beat overwhelm by understanding your priorities   4:04 Cascading your role and priorities into your schedule   5:00 Why you need to get used to chaos when you’re in the construction industry   5:46 You need to log your time for a couple of weeks   6:16 Beat overwhelm by learning to say NO to yourself and others   7:19 Beat overwhelm by getting help   Resources:   If you want to stop being overwhelmed and start being more effective, get this Free Download: www.constructiongenius.com/effective   Are you a construction company owner or executive? Do you or those who report to you need an outside voice to help beat overwhelm and start being more effective? I work every week with Construction company owners and executives. I provide them a sounding board to help them work through their deepest challenges and increase their leadership effectiveness. If you’d like to figure out if/how I can help you, contact me directly: www.constructiongenius.com/contact   Connect with me via 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!

How to Stop Being Overwhelmed and Start Being Effective

One of the most dangerous things that a leader can say is “we’ve tried this before and it didn’t work.”   It’s so crucial for an organization to have team members who are innovative enough to bring new ideas to the table. Especially if you’re someone who’s been inside the box for so long, it’s refreshing to have people come in and help you take a look outside of the box.   One way to squash your team’s innovation is through shutting them down by outrightly rejecting their ideas.   Today’s guest, John Coyle is one of the world’s leading experts in design, thinking, and innovation. So we talk about how leaders can foster innovation in their organizations all while maintaining decisiveness. It’s not an easy feat as we know there are quite a few leaders out there who are so used to their old ways that they resist change and are unwilling to change, as well.   Some important highlights we bring into the discussion are:   How leaders can foster innovation within the organization while maintaining decisiveness, and How to encourage your team to come up with innovative ideas and take action on the right ones   Don’t be that leader who shuts down their team’s innovative ways. Be the one that cultivates it!   Discussion Points:   0:00 Introduction   2:19 A short story about the most dangerous words leaders use in their organizations   3:45 The 3-strike science behind a person’s creativity and innovative shutdown   5:25 How leaders can remain open to new ideas while being firm and decisive   6:36 Technique leaders can use to promote the team’s creative and innovative thinking   8:29 Effective ways to generate ideas from the team   9:47 Leaders shifting from project-based to people-based mindset — being the champion of your team’s ideas   10:56 Balancing the need for new ideas while sticking to your organization’s values and purpose   12:02 The Innovation Equation   15:05 Tips for leaders to transition from the boss who prevents innovative thinking to one that promotes it   17:53 Humility in leadership brings teams together   18:39 What about leaders who are resistant and unwilling to change?   20:39 Combining learner leadership and decisiveness   22:29 Action items for creating a balance between an innovative mindset and a decisive one   23:35 What happens then to the team members whose ideas were not chosen?   24:55 Best leaders make sure they act on the right ideas and give clear accountability to team members   26:57 Be willing to hear a NO or be prepared to make some tweaks so the NO becomes a YES   About the Guest:   John K. Coyle is one of the world's leading experts in "Design Thinking” and Innovation. A highly sought-after speaker and lecturer, John is a graduate of Stanford University with a degree in Engineering - Product Design (Design Thinking) and Northwestern’s Kellogg Graduate School of business with an MBA in organizational behavior, marketing and entrepreneurship.   A former head of innovation for a Fortune 500 wireless telecom, John has also been the SVP of innovation for a leading strategy consultancy. John is a world class athlete in two sports (cycling and speedskating) and an Olympic silver medalist, as well as an NBC Olympic Sports analyst, and a guest lecturer on Innovation at several leading universities (Kellogg, Marquette, CEDIM).   John is a two-time TEDx speaker, and an award-winning author of two books, including the (2018) best seller: Design For Strengths: Applying Design Thinking to Individual and Team Strengths. John is also a thought leader in the field of “chronoception” - the neuroscience and psychology of how humans process time.   Resources:   Learn more about John Coule by visiting his website: www.johnkcoyle.com Connect with John Coyle: LinkedIn https://www.linkedin.com/in/johnkcoyle1/  Facebook https://www.facebook.com/johnkcoyle/ John Coyle’s Books: https://johnkcoyle.com/design-for-strengths   Link to “Kick Ass Meetings”: www.constructiongenius.com/kam   Connect with me via 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!

How Leaders Encourage Innovation and Squelch Needless Conformity

What does it take to execute an ESOP successfully?    To get a clear perspective about this topic, I talk with Herb Sargent, the President and CEO of an ESOP, Sargent Corporation, a construction company based in Maine. This podcast addresses some of the following essential points:   the importance of distinguishing your runway for ownership transition and management or leadership transition to execute an ESOP successfully; the importance of identifying the why and why Herb’s “why” is unique; how you go about the process of exploring an Aesop and why understanding the mechanics of an ESOP is essential; identifying a mentor in your particular construction vertical so that you can look at the pros and cons of an ESOP structure I believe this episode will significantly benefit those interested in the mechanics in the implementation of an ESOP in their construction companies. Tune in to this today!     Discussion Points: 0:00 Introduction  3:55 Herb Sargent’s background and how he got into ESOP  6:09 Options when you decide to get out of construction  6:51 Herb’s emotional response to the sale of H.E. Sargent  8:17 How the sale of H.E. Sargent influenced Herb’s future decisions  9:18 Herb’s experience starting his own company  10:14 Why Herb bought back H.E. Sargent  12:49 The motivation behind purchasing H.E. Sargent  14:29 The decision to do ESOP  16:10 Separating the ownership transition from the management transition  17:16 Ensuring smooth turnover   18:15 Where Herb found models and mentors for the ESOP transition  19:36 How employees can start buying into the ESOP  23:09 ESOPs struggle when owners just want to make money  25:36 How seasonality of the business affect people’s ability to build value in the ESOP 28:51 Starting an internal podcast  30:45 Communicating the ESOP life to employees  31:30 Initial steps to take if you’re considering ESOP  35:37 Working hard to build credibility with your crew  35:52 Herb’s journey in finding the next CEO of his company  37:59 BONUS: Herb’s restaurant recommendation in Stillwater, Maine    About the Guest:  Herb Sargent is the President and CEO of Sargent Corporation. It is an employee-owned earthwork construction company that traces its beginning to 1926 in Alton, Maine. They have nearly 400 employees working in seven states, specializing in commercial, industrial, and institutional site preparation, landfill construction, utility projects, airports, athletic facilities, and wind power access.    Resources:  Check out Sargent Corporation’s website https://sargent.us/employee-owned/   Herb’s restaurant recommendation https://masonsbrewingcompany.com/    Do Your Project Executives Need to Become Better Leaders?    Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)    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! 

ESOP Excellence: An Insider's View of Executing an Employee Ownership Plan

The General Contractor of the future will be successful based on their ability to identify, evaluate and implement new technologies.    In 2017, computing power became sufficient to open up the doors for some of the toughest challenges in Construction to be addressed by software solutions. Billions of dollars of venture capital poured into tech start-up companies and the Construction tech renaissance kicked into gear.    With the influx of technology available, though, construction companies have found it difficult to determine and implement what they need to build faster, high-quality, cost-effective projects.     How do shrewd construction companies avoid overwhelm and use tech to build better projects? This is what I discuss in this week’s podcast episode with René Morkos. The son of a civil engineer, René grew up in the construction industry. He has worked on construction projects worldwide.    René is the founder and CEO of ALICE Technologies and teaches at Stanford University's Ph.D. program in Construction Management.    Some of the important highlights we discuss are:    The one position you need to create to take advantage of the tech renaissance  the three-step process in evaluating the right technology for your organization, and  the one question CEOs need to ask every night before going to bed that should drive the decisions you make to take advantage of the renaissance    If you’re a CEO wanting to take advantage of the construction technology renaissance, you will definitely find this interview insightful.   Discussion Points: 0:00 Introduction  3:11 Difference between an orchestra and a construction crew  3:44 Construction is a complicated field  5:00 The construction renaissance  6:53 Generative construction simulator  7:44 Shift the mindset: Stop scheduling, start simulating  9:12 How to continue to simulate throughout the project  13:03 How innovative construction companies participate in this renaissance  16:59 Three factors that will determine a general contractor’s success 17:58 One position to create to take advantage of the renaissance  27:53 What is the impact a software is going to have on my process? 28:09 The 3-step process when evaluating the right technology for your organization  35:31 1 question CEOs should ask every night before going to bed 39:20 What does ALICE do, and for who is it? 41:41 Leveraging the value that construction experts have  43:14 How to get in touch with René  43:33 The bleeding edge in technology for construction  45:21 What semantics mean  49:05 Three action items construction companies can take to participate in the renaissance  49:49 BONUS: René’s recommended restaurant in the Bay Area    About the Guest:  René Morkos is the founder and CEO of ALICE Technologies and teaches at Stanford University's Ph.D. program in Construction Management. The son of a civil engineer, René grew up in the construction industry. He has worked on construction projects worldwide.    His professional experience ranges from working as a project manager in Afghanistan to building an underwater pipeline project in Beirut, from driving automation engineering on a $350 million gas refinery expansion project in Abu Dhabi to leading the development of a virtual design and construction model for Amsterdam’s cruise ship terminal.   René received his Ph.D. in Construction Engineering and Management from Stanford University, his MSCE in Construction Management from USC, and his BS in Civil and Environmental Engineering from the American University of Beirut.   Resources:  Find out more about ALICE Technologies  https://www.alicetechnologies.com/about www.alicetechnologies.com Follow René on Linkedin https://www.linkedin.com/in/renemorkos/.  Stanford Center for Integrated Facility Engineering (CIFE): https://cife.stanford.edu/    Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)    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! 

How Shrewd Construction Companies Use Tech to Build Better Projects

Incentive programs are powerful tools for motivating employees to deliver amazing results. But they also have the potential to encourage bad behaviors that are harmful to your company. What’s key is knowing how to create a well-structured program that aligns what your employee wants with what’s best for your company. Today’s episode is packed full with insights from my guest, Mark Brooks, the Managing Director at Permanent Equity. Mark covers many areas including how an incentive program can be a good starting point for crafting the job description and the benefits it has in reducing silos naturally present between the field and the office staff.  Listen and learn how you can give your employees what they want so that they’ll get you the results you desire. Discussion Points: 0:00 Introduction3:24 The Importance of a Clear Incentive Program6:04 The Connection Between Human Nature and Incentives8:38 Tailoring Incentives to Different Parts in the Organization11:34 Controlling Negative Behavior17:18 Using Incentives to Minimize Silos Between Field and Office20:21 The Need for Clarity in your Compensation Plan22:15 Injecting Objectivity in the Incentive Program27:03 Frequency of Communication and Giving Rewards32:07 Making Incentivized Goals Achievable34:48 Steps In Building a Good Incentive Program38:57 Good Leaders Admit and Fix Mistakes 41:14 Getting to Know Permanent Equity 43:16 BONUS: The Must-Visit Restaurant in Missouri About the Guest:  Mark Brooks is the Managing Director at Permanent Equity. The firm invests in North American companies that have owner earnings of $2.5M-25M per year. They have a $300M fund that is used to make long-term investments in family-owned businesses including those in construction. As Managing Director, Mark supports their portfolio companies with their operational processes, tech stack efficiency, and demand generation. An Excel nerd who also runs Ragnar races, Mark is on the board of directors for educational material provider Learning Without Tears. Resources:  Connect with Mark  Email (mark@permanentequity.com) LinkedIn (https://www.linkedin.com/in/markbrooks1) Work with Permanent Equity (https://www.permanentequity.com/) How to Optimize Your Compensation Plan (https://www.permanentequity.com/writings/how-to-optimize-your-compensation-plan) Barred Owl Butcher & Table (https://www.barredowlbutcher.com/) Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)  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! 

How to Create Incentive Programs That You and Your Employees Will Love

A long term commitment to building relationships through networking will result in more sales. As a CEO or President, you play the main role in building your network and making sure the people in your organization continue to cultivate those relationships.  My guest today is a construction  company President and a tremendous networker. Austin Edwards of Emerald Site Services gives several practical pointers that can help construction leaders in not only expanding their network, but in nurturing those connections to encourage more sales. Find out how you can cultivate the right network that propels your business to success.  Discussion Points: 0:00 Introduction2:39 The CEO’s Role in Business Development 5:14 When Saying ‘No’ to Big Projects Is the Right Choice6:59 What Networking Actually Is9:53 Networking Vs. Selling12:33 The Right Way to Network15:56 The Mindset for Starting the Conversation19:21 Identifying the Person You Want to Get Introduced To21:08 The Importance of Being Top of Mind23:21 Cultivating Relationships Outside Your Direct Network25:34 Maintaining Your Current Clients (While Growing Your Business)28:09 The Difference Between Good Events and Bad Events30:05 Overcoming Rejection32:20 Why CEOs Should Share their Network with Their People34:32 How to Get Better at Networking36:53 Networking Advice Specifically for CEOs38:38 BONUS: The Must-Visit Restaurant in Budapest About the Guest:  Austin Edwards is the President and Principal at Emerald Site Services. Based in Sacramento, California, the company offers stormwater compliance services and consulting as well as complete solutions for erosion and sediment control. As President, Edwards oversees a family-owned company which has been in business since 1982.  Edwards supports various charitable organizations and advocacy groups in Northern California. He is also a keen outdoorsman. Resources:  Connect with Austin (https://www.linkedin.com/in/austin-edwards-46444b26) Work with Emerald Site Services (https://emeraldss.com/) Caviar and Bull (https://caviarandbull.com/) Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)  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! 

Give First, Then Get: How to Increase Sales by Cultivating Your Network

The pandemic has brought on the rise of “hybrid work environments”, people working in the office and the job site and at home.  This new work setting has proven to be a double-edged sword as workers are given more time to tend to their personal lives while business owners struggle to keep productivity and happiness in check. Today’s guest, Founder and CEO of L-12 Services LLC, Lizabeth Wesely-Casella, shares with us her take on this professional phenomenon. Learn insider tips on how to keep your employees and teams happy and understand what you can do to become a better leader to your people in a hybrid work environment. Discussion Points: 0:00 Introduction2:48 What is a Hybrid Work Environment?3:51 Everyone is Overwhelmed6:31 Learning by Osmosis9:44 A Culture of Trust and Relationships16:52 Creative Problem-solving Frameworks19:55 Managing Performance23:42 Becoming a Good Listener28:44 Developing Trust as an Executive30:42 Steps to Making Hybrid Work More Effective33:10 BONUS: The Must-Visit Restaurant in DC About the Guest:  Lizabeth Wesely-Casella is the Founder and CEO of L-12 Services LLC, a firm specializing in internal communications training focused on workflow, processes, and culture.     Her work has resulted in long-lasting success for organizations, including talent retention, client re-acquisition, and streamlined processes that save time and increase revenue.     The L-12 Services client list spans a wide variety of industries including NGOs, educational programs, technology, and civilian-military lead organizations. Resources:  Connect with Lizbeth (https://www.linkedin.com/in/lizabeth-wesely-casella/) Work with L-12 Services (https://l12services.com/) (https://l12services.com/icna-2021/) (https://l12services.hubspotpagebuilder.com/streamlined-workplace-program) Modena Modern Italian Cuisine (https://www.modenadc.com/) Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/) 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.

How to Thrive in a Hybrid Work Environment

Every one of your clients started out as a stranger to you. Good Marketing is how you turn strangers into friends, clients and evangelists for your company.  Wayne Mullins, Founder and CEO of Ugly Mug Marketing, is back to share with us his approach towards The Natural Progression of Marketing. He shares that by having the right intentions and setting clear expectations you can use Marketing to turn strangers into friends, clients, and evangelists.  Take the time to listen to this informative episode today.  Discussion Points: 0:00 Introduction2:07 Why Marketing Doesn’t Work5:45 The Natural Progression of Marketing7:43 Identifying Strangers8:54 Strangers to Friends11:54 Assigning Marketing Pieces to Components17:13 Setting Expectations21:56 Exceeding Expectations About the Guest:  Wayne Mullins, Founder & CEO of Ugly Mug Marketing has scaled multiple companies & helped hundreds of entrepreneurs do the same with their companies for the past 20 years. He's worked with and inspired clients from 100 industries and has directly influenced 100K entrepreneurs.  Through his books and training programs, Wayne influences 250K entrepreneurs annually.  Ugly Mug Marketing has won the praises of some of the leading influencers in the business world, such as, Chris Voss (New York Times Best Selling Author of Never Split the Difference), Neil Patel (Founder of QuickSprout & Kissmetrics), and Ari Weinzweig (Co-Founder of Zingerman’s).  Much of Wayne's success comes from thinking differently and outside the box. He's learned a lot along the way and is honored to have the opportunity to share those experiences with others in hopes that it will help and encourage them in their journey. Resources:  Visit Ugly Mug Marketing (www.uglymugmarketing.com) Connect with Wayne (https://www.linkedin.com/in/fireyourself/) Follow Ugly Mug Marketing on Facebook (https://www.facebook.com/uglymugmarketing/)  Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)  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 Natural Progression of Marketing

I root for the San Francisco Giants. They are my favorite baseball team. In the past few years, they’ve been struggling, losing more games than winning. This year, that’s started to change. They’ve strengthened their roster, and are on pace to win over 100 games.  Are you devoting time to evaluate your construction company’s roster strength? Building winning teams starts with Construction CEOs taking the time to ask this simple question, “Do I have the right people in the right seats?”  In this week’s Construction Genius episode, I talk about how Construction executives can follow the example of the Giants. I emphasize the importance of constantly evaluating the strength of your company’s roster, and I take you through practical steps you can follow when the right person is in the wrong seat.  If you are committed to building a winning team, listen to this episode. Discussion Points: 0:00 Introduction 3:17 Do I have the right people in the right seats?6:04 Get out your organizational chart 8:15 The goal is to have every position filled with plus plus people 8:55 3 options to consider if you have the right person in the wrong seat10:29 How to handle situations where you want to promote, but there are limited seats 12:07 You’re responsible for your company roster’s strength 13:54 Next steps     Resources:  Download Your FREE Company Roster Evaluation Template: https://www.constructiongenius.com/construction-company-roster/ Listen to this podcast episode: RECOVERING FROM DEMOTION | EP 23: https://www.constructiongenius.com/podcast/recovering-from-demotion  Would you like an outside voice to help you evaluate your roster? Contact me on my website: www.constructiongenius.com/contact   Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric to see if/how he can help https://10minutes.youcanbook.me/ 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! 

How to Build a Winning Team by Thinking Like a Baseball Executive

The process of submitting and responding to RFIs is often a source of tension. In today’s episode, my guest, Slater Latour, frames the challenges that the construction industry has in taking a concept and design and building it in the real world. He then explains how the whole RFI process can be managed effectively. Slater and I also discuss the software developed by his company, Newforma, and how they help companies have an efficient RFI process.  Stay to the end of the episode to understand how conflicts in the RFI process can be overcome. Check out this episode today!  Discussion Points: 0:00 Introduction2:29 Why do RFIs cause tension in a construction project  3:46 People responsible for the efficient processing of RFIs4:35 Dealing with frustrations on rushed designs due to RFIs6:03 Reducing tension around RFIs without the blame game7:33 Information often missed in the RFI process 8:21 How to avoid wasting resources on inefficient RFI procedures11:06 Newforma and its project information hub system14:00 Challenges in RFI technology selection and implementation 17:13 Newforma - coordination, not replacement18:13 The reason why companies refuse a format change according to Slater19:26 Hallmarks of companies that succeed in change management 21:40 Slater shares how companies can set up for a smooth RFI process About the Guest:  Slater Latour is the Chief Marketing and Product Officer of Newforma, a company that pioneered the Project Information Management (PIM) software category in 2004 for architects, engineers, contractors, and construction company owners. Slater is committed to assisting Newforma in continuing to grow its business by providing useful solutions to the AEC market. He has had corporate strategy and cross-functional leadership responsibilities in companies ranging from early-stage start-ups to one of the world's ten most diversified financial services providers. Resources:  Contact Newforma https://www.newforma.com/company/contact/ Watch Newforma’s product videos https://www.newforma.com/news-resources/product-videos/  Follow Slater and Newforma in the following social channels https://www.linkedin.com/in/slaterlatour https://www.linkedin.com/company/newforma/ https://twitter.com/newforma https://www.facebook.com/NewformaInc/  Abe and Louise’s https://abeandlouies.com/  Bricco https://bricco.com/  Do your project executives need to become better leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help https://10minutes.youcanbook.me/  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!

RFIs: Speeding Up Response Time and Reducing Tension by Managing Information Efficiently

If you look at the statistics, you’ll find that two-thirds of construction companies are unsaleable. If you are to gauge your current company’s status, do you think it is structured in a way that it can be sold either internally or externally? Are you setting yourself up for success come sale time?  My conversation with my guests, Matt Drake and Scott Duncan, revolve around this very important topic in this week’s Construction Genius podcast episode. Matt and Scott are co-founders of BaseRock Partners. We discuss three things in this episode that you’ll find helpful. how to structure your company how to grow your company, and  the different options available to you for selling your company Join our discussion as we look into the best ways that you can set up your construction company for success. Tune in now! Discussion Points: 0:00 Introduction1:48 Why ⅔ of construction companies are not saleable5:07 Whether internally or externally, what distinguishes companies that are saleable?7:14 Matt and Scott share how companies can become more saleable10:56 Who can benefit the most from ESOPs?12:38 The right reasons for considering ESOPs14:34 Ensuring a smooth ESOP transition16:23 How companies succeed with their ESOP transition17:55 Matt talks about internal ownership transfer19:40 Scott discusses the importance of objectives in internal ownership transfer 20:51 Risks that come along with setting your company up for success22:32 Fear of taking risks: Is it a generational thing?23:27 Why education and management dept are crucial to be saleable 25:03 Can companies successfully shift from one structure to another?27:36 Why ESOP is the better choice in most situations28:50 How to avoid choosing the wrong team to succeed your company31:16 Matt and Scott’s experience with family businesses33:07 Establishing a timeline of success for your company35:52 What makes an ideal board?37:43 Mergers and Acquisitions: two companies are better than one?39:02 The “BaseRock Difference” and how it helps companies become attractive About the Guest:  Matt Drake and Scott Duncan are co-founders of BaseRock Partners, an investment bank that serves the engineering and construction industries. Matt and Scott are trusted advisors to owners, industry partners, and private equity firms.  They operate on their four-pronged vision which they call the “BaseRock Difference”: “client first” mantra, industry expertise, industry focused solutions, and team oriented, education-based approach. Resources:  Need Consultation for Your Company’s Transaction Options? Contact Matt Drake and Scott Duncan https://baserockpartners.com/ Follow Matthew Drake on Linkedin https://www.linkedin.com/in/matthewdrake2010/ Follow Scott Duncan on Linkedin https://www.linkedin.com/in/scott-duncan-1943693/ Restaurants:  https://www.pappyssmokehouse.com/ https://saltandsmokebbq.com/ https://gquebbq.com/ Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)  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! 

Practical Ways to Structure Your Company for a Sale

Construction is risky. Insurance is one tool in a contractor’s toolkit to help manage that risk. Savvy construction companies understand that purchasing insurance based solely on price is a losing strategy. They know that it is vital to establish long term relationships with insurance providers, and they focus on actively mitigating risk on every project. This holistic approach enables them to turn risk into profit. In this week’s podcast episode, I’m with Mike Heffernan, EVP of Alliant Insurance Services, an industry veteran with decades of experience. We cover three major topics:  the biggest mistakes made by construction companies purchasing insurance,  the biggest mistake insurance companies make when selling insurance services to construction companies,  and how you can turn risk into profit. Contractors who are curious about boosting their bottom lines will benefit from listening to this episode. You’ll learn and benefit a lot from the wealth of information here. Tune in to this today!  Discussion Points: 0:00 Introduction 2:23 Biggest mistake contractors make when they are purchasing insurance 3:37 Mike explains the comparison between contractor A and contractor B 5:34 How insurance carriers price their premium 6:14 Why contractors struggle with a particular mindset 7:30 Partnering as an increasing trend in the construction industry9:28 Significant savings 10:20 What’s the biggest mistake that insurance brokers make when selling to contractors?13:04 Mindset contractors should have to convert risk into profit 16:11 The purpose of insurance 18:16 Practical scenario of turning risk into profit 21:12 Other things contractors can focus on to increase the profit number 23:19 Mitigation 25:41 How contractors who do it best communicate the safety culture in terms of rhythm 26:58 Purchasing insurance based solely on price is a bad strategy 30:20 Mike shares about the services he provides for construction companies    About the Guest:  Mike Heffernan is an Executive Vice President of Alliant Construction Services Group and is directly responsible for the Construction and Real Estate platform for Alliant Insurance Services Northern California property and casualty broking and client fulfillment operations.  Mr. Heffernan has over 25 years’ experience in the design, marketing, implementation and management of some of the largest real estate development projects throughout the country.    Resources:  Download the slides here https://www.constructiongenius.com/riskintoprofit  Reach out to Mike Heffernan through email mheffernan@alliant.com  You can also use a direct Line to reach Mike - 408 352 6701 Check out Alliant Construction www.alliant.com/construction Follow Mike on LinkedIn https://www.linkedin.com/in/mikeheffernanprofile/ Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton (https://10minutes.youcanbook.me/)  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! 

Converting Risk Into Profit: How to Boost Your Bottom Line by 1-2%

Hiring someone new is challenging. You go through the pain and the agony of sourcing the talent, interviewing the talent, taking them through assessments before making the hiring decision. With all the efforts you’ve put in, the last thing you want is for your new hires to fail. Ensuring their success in your organization is part of your job; the question is, what are the steps you need to take to ensure it?  I got inspired to do this podcast based on a coaching call that I had with the President of a construction company. And so, in this episode, I cover three things that will ensure that your new hires succeed. I also share a tool that I use with my clients, the 90-day High-Performance Dashboard, and how you can use it in your company.  If you’re tired of having new hires slipping through the cracks, this episode is going to be a game-changer for you. Tune in to this today!  Discussion Points: 0:00 Introduction 4:27 #1 Buddy them up to ensure your new hires succeed5:47 What buddies do that are really important 8:06 #2 Ride around with the new hire to ensure they succeed 10:43 #3 - The 90-day focus 17:39 Making sure your new hires are successful in your organization is part of your job  20:35 Diligence is better than relying on luck   Resources:  Get the most out of your new hires with this tool - The 90-day High-Performance Dashboard Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)  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. Feel free to reach out to me on my website and suggest topics that you'd like me to cover in the solo shows or people that you'd like me to interview for the podcast https://www.constructiongenius.com/contact/ Thank you for tuning in! 

Why New Hires Slip Through the Cracks and How to Make Sure They Succeed

We hear all the time that the Construction Industry is broken. People then try to innovate to fix it. But what kind of innovations have the most impact? What happens when an organization wants to take on the challenge of shifting the entire construction industry? Is there a chance for it to thrive, or will it collapse?  This is the core of my discussion with Brian Potter in this week’s Construction Genius podcast episode. Brian worked for Katerra, a billion-dollar construction startup which recently filed bankruptcy. We explore what Katerra did right and where they’ve gone wrong, ultimately leading to its fall. Brian also shares why it’s challenging to integrate the construction industry from top to bottom and how things could have been done differently.  This is an interesting episode that you can learn from. Tune in to this episode today!  Discussion Points: 0:00 Introduction 2:21 Brian shares his experience with Katerra  3:02 What Brian thought of the different thoughts towards Katerra  6:04 The car analogy and how Katerra envisioned their company to be  7:36 Brian’s time in Katerra and why he describes it as bittersweet  8:55 Fatal flaws from its birth that haunted Katerra  10:43 Brian’s perspective of the ‘construction industry is broken’  12:36 Does everything need to be changed all at once?  13:59 Did the CEO’s lack of construction experience contribute to Katerra’s failure? 15:09 Conflicts between construction insiders and the outsiders 18:02 What did Katerra get right? 19:17 Brian’s approach to those who want to start something like Katerra  20:38 Who should be the driving force behind changes in the construction industry? 21:38 One product Brian would choose to go after  22:42 Why Katerra was successful in attracting talented people 23:35 Brian shares his favorite part in working with Katerra  24:04 Scaling too quickly  About the Guest:  Brian Potter is a structural engineer and formerly worked at the construction startup Katerra. He is the author of the "Construction Physics" newsletter. Resources:  Subscribe to Brian’s blog: https://constructionphysics.substack.com/ Another Day In Katerradise https://constructionphysics.substack.com/p/another-day-in-katerradise Follow Brian on Linkedin https://www.linkedin.com/in/brian-potter-6a082150/ Brian’s restaurant recommendation: Fox Brothers BBQ: http://foxbrosbbq.com/ Do Your Project Executives Need to Become Better Leaders?  Book a 10-minute call with Eric Anderton to see if/how he can help (https://10minutes.youcanbook.me/)  Connect with me on LinkedIn. For more podcast episodes, 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! 

Katerra: The Rise and Fall of a Billion Dollar Construction Start Up

Thomas Edison said, "Genius is 1% inspiration, 99% perspiration." This show interviews hard-working construction company owners and executives who share their wisdom, perspectives, and lessons learned from decades of experience bidding, planning, and building profitable projects. Topics include leadership, strategic planning, conflict resolution, niche identification, succession planning, talent management, business development, and business growth. Industry expert, Eric Anderton also shares his insights about how construction company owners can increase project profit by improving communication, running productive meetings, and attracting, developing, and retaining talented leaders. Tune in each week and get practical inspiration for how to build people, projects, and profits. "I know of no genius but the genius of hard work." John Ruskin

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Construction Genius

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