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
Start it Up! How to Launch a Construction Company
Have you ever thought of starting your own construction company, or of launching a new division of your current company? Either way, it’s a giant leap full of opportunity, and risk.
In this week’s podcast episode, I talk with Peter Worhunsky, the President & CEO of Live Oak. We explore the move to start his own company. Peter shares how he maintains healthy relationships with his business partners. How he navigated the decision to start a business with his family. How he made the transition from employee to owner. The importance of a thorough business plan, and how that plan has changed since the launch of the company. How to seize opportunities, balancing ego and humility. We also cover how to manage the physical and emotional stresses of launching a business.
Those who are thinking about starting a business or launching a new division of a company will find this episode insightful. Take the time to listen to this episode!
3:04 Why Peter started his own company
3:51 The process Peter went through to get to starting his own company
6:40 Approaching people to become business partners
7:34 Things Peter looked for in business partners
9:36 Retaining talent as a CEO
11:21 Discussing beginning the business with your family
12:48 Crossing from being an employee to a business owner
13:35 Immediate obstacles upon launching the business
14:18 What Peter learned in the financial aspect of the business
15:50 Benefits of a business plan
17:01 Significant changes from the initial start of the company to where it is now
18:15 Being hyper opportunistic while eyeing the long-term goals
22:03 Risk management
24:38 Obstacles that Peter didn’t anticipate
26:23 What Peter would do differently if he were to go back
27:55 Understanding the difference between a plan and reality
29:35 What COVID taught Peter and how he’ll apply it to a non-COVID environment
30:40 Balancing ego and humility
32:41 Peter’s focus on growing his business
33:57 Maintaining healthy relationships with business partners
34:32 Managing one’s self and the stresses that come with business
35:24 What to do to keep the long game in mind
36:30 Respect for people in the construction space
About the Guest:
Peter Worhunsky is a construction industry veteran with over twenty years of field and office experience. He grew up around construction, watching his grandfather and father run a construction company. In 2019, with his partners, he launched Live Oak and serves as the company’s President and CEO.
Do Your Project Executives Need to Become Better Leaders? Book a 10-minute call with Eric Anderton (https://10minutes.youcanbook.me/) Books mentioned in this episode:
Born of This Land (Autobiography of Chung Ju-jung, Founder of Hyundai): https://www.amazon.com/Born-this-land-life-story/dp/B07YNZF25Z/ref=sr_1_1?dchild=1&keywords=born+of+this+land&qid=1621619465&s=books&sr=1-1 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 Speak in Public with Vision and Power
How comfortable are you when speaking in public? Whether you love it or hate it, as a leader, you have to do it. Your words have a tremendous impact, and if you can improve your public speaking, it will increase your leadership effectiveness.
Helping you improve public speaking skills is the goal of this week’s Construction Genius episode. My guest, Robbie Crabtree, is an expert in the field. We discuss why so many people struggle with public speaking and how it’s possible to become confident in this area. We also talk about strategies that will help you connect with your audience and the impact that words have on people. Robbie also gives practical advice on how to make sure you’re not boring your audience.
Interested in upping your public speaking game? This episode is for you.
2:11 Why do people struggle with public speaking?
4:00 Imposter syndrome
5:36 How to move one’s self to be someone who wants the ball
6:27 Fear setting
8:12 Strategies to connect with an audience
10:16 Handling the disconnect in communicating to your audience
13:57 Pitfalls to avoid when practicing public speaking
16:09 The power and impact of a leader’s words
17:58 Framework for crafting a speech
21:53 Preparing a speech for an executive environment
25:16 Number of examples/stories in a speech
25:54 Avoid boring people when speaking
27:36 Advice to those who want to improve and polish their speaking skills
29:05 How to remove filler words
About the Guest:
Robbie began his career as a trial lawyer, where he went to jury trial 102 times in cases including murders and child abuse. During his 5th year, he began teaching persuasive speaking and coaching the national mock trial team at SMU Law. Over the years, he started getting messages from politicians, entrepreneurs, and salespeople on how they could learn how to be great speakers and storytellers.
Robbie developed the Performative Speaking philosophy and started a coaching and consulting company around his experience. He also created an educational technology company around this idea that was acquired by On Deck in December.
Robbie works with people every day, from tech companies in Silicon Valley to lawyers in Texas to salespeople in the midwest or east coast, to turn speaking into a superpower.
Do Your Project Executives Need to Become Better Leaders? Book a 10-minute call with Eric Anderton (https://10minutes.youcanbook.me/) 1-page notion document from Robbie (https://www.notion.so/Hi-I-m-Robbie-9dc3517ab28741c0b333f86d4aa3b812) Visit Robbie’s website (https://www.robbiecrabtree.com) Subscribe to Robbie Crabtree’s newsletter (https://robbiecrab.substack.com/) Reach out to Robbie through his social media accounts Twitter: @robbiecrab Instagram: https://www.instagram.com/therobbiecrab/ Linkedin: @therobbiecrab Recommended Restaurants
Ninfa’s https://ninfas.com/ Hugo’s https://www.hugosrestaurant.net/ Xochi https://www.xochihouston.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!
Exit Strategy Experts: How to Structure and Execute a Transition to the Next Generation
Transitioning a company you have founded on blood, sweat, tears, and cash to the next generation is not easy. It requires a combination of clear planning, and bloody minded persistence to structure your company correctly, and identify and develop the next group of leadership. Many construction companies start too late, and don’t give enough thought to the process. Success depends on crafting a strategy now, and having the right people to guide and help you along the way.
In this week’s podcast episode, I talk to exit strategy experts Craig Boyce and Noli Snobar of BFBA. They give us a detailed explanation of proven exit strategies. Craig and Noli also talk about how to improve your company structure and the importance of providing mentorship to the younger generation in your company. You’ll go away from the interview with specific action items to jumpstart your succession planning process.
Don’t miss out on today’s episode!
4:46 Why construction company owners struggle with succession planning
5:57 The definition of a good mentor
8:18 How construction company owners overcome their fears
10:04 Starting point of succession planning
12:34 Timeline for planning a transition
14:05 Better companies transition better
14:39 The importance of mentorship for the younger generation
16:05 Mechanisms that work for construction companies
17:07 Explaining the models available to owners and their partners
21:31 The LLC model
25:25 Personal indemnification as an obstacle to the transition
26:30 Definition of a strong balance sheet
27:55 Main reason the LLC model won’t work
31:35 Why parties involved should think the same
33:37 The right number of owners in a company
34:41 Who’s going to make the final decision from an ownership perspective?
36:59 Two triggering events
38:34 Greediness during succession and its effects
41:40 Finding time to do all tasks involved in a succession planning process
43:49 The need to keep trying and the consequences of quitting
45:55 Availability of private equity money in the construction industry
47:23 Action items to get the succession planning process started
About the Guest:
Craig Boyce is an Auditing and Accounting Partner who has been with BFBA since its inception. He has developed a niche in succession planning. He has assisted dozens of construction companies develop a successful business continuation strategy through ownership transition or business acquisitions and mergers.
He has also served as an expert witness in construction litigation and disputes. He has assisted companies in the refining and updating of buy-sell agreements and operating agreements, which have helped his clients avoid major pitfalls associated with incomplete or poorly written documents.
Craig has made various presentations to local, regional, and state-wide construction organizations on multiple topics such as business continuity, the Research and Development Tax Credit, changes in accounting pronouncements, and other topics related to the construction industry. Craig has also taught construction classes through U.C. Davis extension programs and the Construction Financial Management Association.
Noli Snobar serves as one of the BFBA’s technical reviewers, performing the final review of financial statements prior to issuance. He is also actively involved in developing training and continuing education courses for the Firm’s audit staff. He has developed various financial models to assist in guiding growth and financial stability, including income statement projections, cash flow forecasts, work-in-process templates and analytics for his client base.
Noli has a strong focus in the construction industry and has taught courses on construction accounting and GAAP Updates to various groups such as Construction Financial Management
How to Avoid the Hype and Use Technology to Solve Project Specific Issues
It’s easy to get caught up in the hype of the latest technology available in the Construction Industry. This can lead to overwhelm, inefficiency, and wasted money if the solutions you choose don’t solve project specific issues.
In this week’s podcast episode, I speak to Karl Sorensen. We talk about how his experiences have shaped how he looks at the implementation and use of technology in construction companies. We also discuss why most construction companies struggle with identifying the right tech to use. Karl then pinpoints why leaders and those underneath them should come together to talk about what tech works and what doesn’t. In the later part of our discussion, he gives action steps to avoid the hype, and integrate technology effectively to solve specific problems.
Take the time to listen to this podcast episode!
3:05 Karl’s history and how it has influenced him
6:42 The disconnect between millennials and the older generation around technology
8:27 Why there is a struggle identifying the right technology
10:35 Best way to start leveraging technology at the moment
13:40 The importance of a good process in building a technology solution
15:14 Advice for leaders when looking at technology and bridging the gap
16:26 Frequency of meetings
17:35 Culture of experimentation
19:37 Specific areas to implement technology
21:56 Using data collated and processing it to be beneficial to the company
23:32 Effective model to roll out technology
26:32 Understanding the minimal viable products perspective
30:00 What technology is hyped nowadays but not useful at the moment
31:17 Undervalued technology that is useful and will create a positive impact
34:16 Upcoming technology that is going to make a huge impact
35:55 Where the construction industry is headed in terms of consolidation and integration
38:04 Reasons technology implementation fails
39:46 Action steps to integrate technology
42:18 How technology should be driven effectively
About the Guest:
Karl Sorensen is HIIT’s director of projection solutions. His focus is on implementing construction best practices and deploying the right tools and technology on each job to enhance HITT’s ability to deliver exceptional project solutions to our clients.
Karl has more than a decade of experience in the construction industry, bringing project management, operations, and construction technology experience to his role at HITT. In addition to leading the project solutions team, he also oversees HITT’s sustainable construction and virtual construction teams to optimize sustainability and efficiency across HITT’s job sites.
Do Your Project Executives Need to Become Better Leaders? Book a 10-minute call with Eric Anderton (https://10minutes.youcanbook.me/) Reach out to Karl through Linkedin (https://www.linkedin.com/in/karlsorensen/) Check out HIIT’s website (https://hitt.com/) Museum recommendation:
For those planning to visit DC, Karl suggests that you check out the Museum of American History’s website (https://americanhistory.si.edu/) 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!
Ebb & Flow How Getting in Rhythm Makes You More Productive
A consistent workflow is important in helping you perform at your best, but a lot of construction executives struggle with this. Getting a good rhythm will allow you to become more productive in your company, but how can you achieve that?
In this week’s podcast episode, I talk about the three things that you can do to get a good workflow rhythm. I will discuss how you can determine the value of your hours and how to create a theme for each day or week. I will also share the importance of meetings and the best way to make use of your work days.
Tune in to this episode today!
1:42 Value your hours
3:42 Have a theme for your week
5:11 Importance of succession plans for construction companies
6:22 Have one free day in your work week
7:41 How to fill your day with meetings
10:00 Create space in your day
12:25 Summary of what to do to get in rhythm
If you’d like to talk to Eric about if/how he can help you with executive coaching, click this link: 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!
Beauty Queen! How to Make Your Construction Company Attractive to Insurance Carriers
Every company wants lower insurance premium costs. But with a hardening insurance market, how can construction companies lower their spending on insurance? What are actionable steps contractors can make to become more attractive to brokers?
In this podcast episode, I talk to Mary Grandy, Senior Vice President at Epic Insurance Brokers and Consultants. She gives us a brief look at the insurance market today and how it is affecting construction companies. We ask her for some tips on how contractors can become more appealing to insurance agents. She also shares her expert opinion on what makes good partners and improving trust between agents and contractors.
There’s a lot to discover and learn from this episode. Check it out today!
Discussion Points: 0:00 Introduction
2:20 Hardening market in insurance
3:20 What is social inflation?
4:25 How is the construction industry affected?
7:21 Advice on addressing the challenges of insurance premiums
8:46 Defining total cost of risk
9:25 Contractor programs to address the total cost of risk
11:17 Who and when to delegate risk management
13:42 Responsibility of contractor to build relationships with insurance companies
15:18 Difference between a good and bad partner
17:24 Most effective way to build trust
20:54 Look for an insurance broker that understands your language
22:50 How construction companies can become more attractive to insurance carriers?
24:27 How long will it take for contractors to improve?
29:50 Three action items to facing insurance challenges
About the Guest: Mary Grandy is Senior Vice President at Epic Insurance Brokers and Consultants. With over two decades of experience in the insurance industry, she brings a unique approach in representing the construction industry with her expertise in litigated construction claims. She focuses on the design and implementation of insurance and risk solutions for all aspects of her commercial, property and casualty and workers’ compensation insurance clients.
Resources: Do Your Project Executives Need to Become Better Leaders? Book a 10-minute call with Eric Anderton (https://10minutes.youcanbook.me/) Connect with Mary Grandy Contact: firstname.lastname@example.org Phone 530-559-3435 LinkedIn: https://www.linkedin.com/in/marygrandy/ Recommended Restaurant
Hawks Restaurant: https://hawksrestaurant.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!
Construction Genius is Just That
Eric is a podcaster with a clear understanding about what his listeners will benefit the most based on his guest list and how he goes about his interview with top industry leaders
Informative and Inspiring
I appreciate hearing leaders in the construction share their challenges and accomplishments. Very insightful!
Good mix of guests and perspectives
Enjoy listening to the different people Eric has on. Eric and the guests offer good ideas and/or things to consider as a construction executive.