This is the second part of a two-part series on succession planning for a contractor, and the process of finding and developing a new leader for a business as the owner nears retirement. If you’re thinking of someday selling a construction company, wondering about the future of your business, or curious about what your retirement could look like, you don’t want to miss today’s interview.
In this video, we’ll discuss what succession planning is, what does it take to sell a business, what has worked really well for my guests, and what would they do differently after going through the succession process.
I’m talking to Tom and Barbara Weiher, the original owners and founders of Carmel Builders in Milwaukee, WI. Carmel Builders successfully transitioned the business from Tom and Barbara to their son, Louis, a few years ago. (You can watch my interview with their son Louis here.)
Tom started the design, build, and remodeling firm 40 years ago. Ten to 15 years ago, he started wondering, “How’s this going to end?” It seemed ideal to him and his wife, Barbara, for one of their five children to take over the business to keep it in the family. But at the time, none of them were working in the business or interested in taking it over.
Today, I’m sharing part one of a two-part series about succession planning. In the contracting industry I see so many folks who have been working for 30 years, 40 years, and beyond, who want to transition out of their businesses but they don’t know where to begin and as a result, continually put it off.
Knowing how to plan for your phase out or complete succession from your business is the pathway to you being able to reap rewards from the hard work the you’ve put into it over these many years. And proper planning, as my guest today will share with you, can help you save money and increase your return as well.
One of the companies that successfully made the transition is Carmel Builders in Milwaukee, WI. Today, my guest is Louis Weiher, the owner and president since 2016. In my next blog post, I’ll interview his parents, Tom and Barbara Weiher, the founders of the 40-year old design build build firm.
Whether you’re on either end of a possible succession or just wondering about your eventual retirement, these two interviews will help you navigate your way to a successful transition.
In this week’s blog, I’m super excited to be joined by Chip Doyle of Sandler Sales. Having successfully trained hundreds of people to be great salespeople, what Chip talks about is a proven approach for effective prospecting that results in closing more sales.
In my interview Chip shared some best practices around sales and prospecting that are simple to implement, and don’t require you to be “salesy.”
“To create fruitful prospecting (i.e. be attracting the RIGHT customers), you need to control the lead source,” Chip shares in this interview.
I especially love when Chip explained how “every opportunity you have to connect with customers and prospects is an opportunity to prospect for more customers, thus an opportunity to close more sales.”
As he sat down across from me, I asked Josh “how have things been going this past month?”
“Last week I submitted the fourth bid to a client who has an incomplete set of plans and is not clear on exactly what they want. This whole thing of helping people figure out what they want to design, and what it will take to build it, while simultaneously asking me to bid and re-bid, and NOT getting paid for it is making us crazy!”
De-Mystifying Online Marketing – And the ONE thing you can easily do create a stronger online presence
If you’re like me, the whole world of online marketing can often feel very confusing and daunting. This week in my interview with my friend and colleague Joleen Emery she de-mystified social media marketing in a really lovely way. In the process, she also helped me understand some key areas where we could improve our “digital footprint” as she calls it (this is explained in the video).
Joleen talked about how to get more people calling us, and how to get our business to show up on the first three pages when someone does a Google search – without paying for ad space!
No cost and no confusion marketing – who doesn’t love that?
When three different clients told me about Robin and his brilliance around making money in scheduling, I knew I needed to interview him for my blog. And I’m so glad I did.
For over 30 years Robin Beauchamp has been increasing profitability on his projects by employing an approach to scheduling that has been key to getting teams to stray focused, subs to show up when needed, clients to make decisions quicker, and design teams to stay on track.
In my interview, Robin shared how he keeps project teams aligned on goals, delivering on promises, and working as a cohesive team. And he does it without having to cajole, threaten or throw anyone under the bus.
Listen to today’s video blog and learn how you can make your projects flow more smoothly, and have your schedule make you more money!
If you ever hired someone who didn’t work out in the job, and not sure where you went wrong, you’ll want to watch this week’s video.
If you want to know the secret to increasing your profit margins, then you want to watch this week’s video.
Jared Gossett has been a successful builder for many years, and a while back started a radio podcast that is all about helping Builders and Remodelers take their businesses to the next level. When Jared asked me to be a guest on his Building Optimal Radio show and talk about best practices around hiring and managing profit margins, I jumped at the opportunity to collaborate with someone else passionate about helping contractors build successful businesses.
The one thing every manager and leader I know can agree on is that it’s tough to find good people to hire these days. Particularly in construction – an industry that doesn’t seem to hold much interest for younger people.
In this weeks video blog I share with you 8 ways to find qualified candidates, and tips that can help you “think outside of the box.” At the end of the video I even share with you a special resource that will help you get other people to help you find great candidates too – at no cost to you.
Often while doing an initial check-in with clients as our meetings begin, I hear tales of challenging projects. Almost always they involve an emotional or indecisive homeowner, or a demanding client. It usually comes down to the contractor wishing the client would just trust them, let them do their job, and for heaven’s sake, just pick out what tile you want – otherwise this kitchen will never get finished!
While talking with my friend Ed Earl (affectionately known as the Zen Builder) about his approach to managing clients, I instantly thought – “gosh, my clients and followers could get huge value from hearing Ed’s approach to managing client relationships.”
That day he shared with me his approach to circumventing those challenges. That conversation is what inspired me to interview Ed for this blog post.
In the video Ed shares with us his strategies for understanding and managing the client relationship. He provides some powerful insights that will help you AND your client have a better experience in the construction process. At the end of the video, Ed also shares a resource that will definitely help you create a better “win-win” on your next project!
One of the key complaints I hear from managers and leaders is that their staff don’t take ownership. This challenge seems to be universal as evidence in a survey I did recently where 72% of respondents said they struggled with this very issue.
In this week’s blog, my guest Sonja Stetzler shared with me two simple things managers and leaders can do to get their teams to take more ownership. At the end of the blog, she even provides a simple “cheat sheet” you can use.
Hope you find this 20-minute video helpful in supporting you on your leadership journey.