

Construction Genius
Eric Anderton
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
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
Episodes
Mentioned books

Nov 30, 2021 • 42min
How to Win Every Shift by Giving Field Crews Clean, Usable Data
Your projects will be profitable if your field crews are efficient. How can you increase your crew's efficiency so that you can make more money? On this week's episode of the Construction Genius Podcast we are joined by the co-founder and CEO of Clue Insights Inc. — Oded Ran. Oded is obsessed with helping construction companies make more money by improving their field efficiency using data and AI. We invited him over to share with us some insights into: What we need to look out for to make sure we're using technology in an effective way to better our organization What construction companies need to do to win every shift And lots more of valuable insights Make sure to check out the video of this podcast episode for a clearer view of a very useful slide Oded shares with us halfway through our podcast. Lots of valuable lessons to learn so press that play button and let's get started! Discussion Points: 0:00 Introduction 2:48 Biggest, most common problems of contractors that impact profitability 3:38 Why does the construction industry seem to have minimal to no improvement? 6:32 Is it true that most data is inefficiently communicated within a company because of this reason? 9:07 Solving communication inefficiency within a construction company 10:07 How the most effective construction companies go through the debriefing process 10:11 Step 1: Preparation of Data 10:56 Step 2: Using the data effectively 13:31 Making data collection easier with this framework 17:24 3 questions you need to ask yourself if you're in charge of process improvement 22:15 What Clue Insights does as a company 25:56 Empowering field crews with the data they need 31:32 What a construction company needs to do to win every shift About Our Guest: Oded Ran is Co-founder and CEO of Clue Insights Inc. — a company that aims to help construction companies maximize their company's efficiency through the use of data and AI. He is obsessed with helping construction companies improve their productivity which is why they founded Clue Insights. Oded is a hands-on leader from early-stage start-ups to Fortune 500 Companies. Resources: Clue Insights Inc. Website: www.getclue.com Clue Insights LinkedIn: https://www.linkedin.com/company/clueinsights Clue Insights Facebook: https://www.facebook.com/clueinsights Clue – Real Time Productivity Monitoring Restaurant Recommendation: https://www.truefoodkitchen.com/menu/ 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!

Nov 23, 2021 • 35min
Moon Shot! The Connection Between Mastering Your Time and Achieving Your Goals
In the 1960s, President Kennedy set the goal of sending a manned flight to the moon. To achieve that goal, three programs were put in place — the Mercury Program, the Gemini Program, and the Apollo Program. Three programs which can be perfectly used for analogies with regards to growing businesses including construction companies. Today, we have Doug Howard — Director of Consulting at Remodelers Advantage explain to us how we can relate these three programs to our businesses and use them to our advantage. Other important highlights we include in our discussion are: Using your most valuable asset — time — effectively, Moving from working in your business to working ON your business, Achieving your goals by using your resources efficiently, and many more. So go ahead and press that play button 'cause we've got a lot of valuable lessons to give away in today's episode! Discussion Points: 0:00 Introduction 3:21 Top 3 issues that limit a business' growth 4:03 The struggle between working ON the business vs IN the business 7:05 Developing middle level management with organizational charts 10:22 Two issues that need to be addressed in a growing business 11:51 The problem with micromanaging 14:34 What does it mean to set a budget for mistakes? 15:57 Moving from a mindset of being in control to allowing the staff to interact with customers 18:31 First steps to take in managing time effectively 19:08 The Moon Shot Analogy (Mercury Program, Apollo Program, Gemini Program) 22:25 Playing the dynamics between a Gemini Program phase and the business owner not wanting to do something that needs to get done 23:54 How much time should a senior leader be spending working on the business? 24:52 Tried to manage your time effectively but failed? Here's how to reset and try again 26:23 It's all about Accountability 29:51 4 action items you need to have to start working ON the business About Our Guest: Doug Howard is Director of Consulting at Remodelers Advantage. He is an experienced Leader, entrepreneur and business consultant with over 25 years of success in leading organizations, starting new companies and assisting client businesses as they start-up, grow or transition. Throughout his career, Doug has served in leadership in for-profit, nonprofit and government organizations. He is a graduate of the Wharton School of Business. Doug joined Remodelers Advantage as Director of Consulting Services in 2017 and he now specializes in helping remodeling company owners develop strategic plans, streamline processes, improve profitability, and navigate growth. Resources: Doug Howard's Email: doug@Remodelersadvantage.com Doug Howard's Website: www.15minuteswithdoug.com Remodelers Advantage Website: https://remodelersadvantage.com/ Remodelers Advantage LinkedIn: https://www.linkedin.com/company/remodelers-advantage-inc- Remodelers Advantage Twitter: @RemodelersAdvan Remodelers Advantage Facebook: https://www.facebook.com/Remodelers.Advantage 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!

Nov 16, 2021 • 43min
ConstructReach: How to Tap Today's Diverse Workforce and Secure Your Future
Generation Z is the most ethnically diverse generation the United States has ever seen. Tapping into this pool of talent will be essential for your business's progress in the next 15-20 years. Paul Robinson — the founder and CEO of ConstructReach — a company that focuses on diversifying the construction industry, is here with us today to explore diversity, and why it's important to your company's success. Some of the highlights of our discussion include: How leadership and construction companies can drive diversity initiatives, How construction companies can sustain this over a period of time, Some of the roadblocks to diversity and how to overcome those, And many more. Get some fresh perspective from today's conversation with Paul. Understand the issues and challenges around diversity that construction companies are currently facing and how you can overcome them! Discussion Points: 0:00 Introduction 2:55 Paul's background 4:31 Paul's journey towards ConstructReach 6:49 The reason behind the lack of diversity in construction 8:22 The business case for diversity 9:33 Strategies to apply if you want your construction company to be successful in terms of diversification 10:59 What are the schools' roles in terms of promoting the diversification initiative? 13:29 Trends on shop emphasis vs having our heads up in the technology cloud 15:19 How construction companies build relationships with schools so they can tap into the vast pool of talent afterwards 17:24 Sustaining a diverse workforce 22:17 Persuading construction leaders into hiring a diverse workforce 25:35 Stop jumping on the bandwagon with your marketing 28:15 Closing in on the generation gap 30:06 What ConstructReach does for general contractors and subcontractors 30:56 The importance of the onboarding piece 32:29 The difference between a successful company in terms of diversification and the not-so-successful one 33:18 How Paul helps construction companies overcome the challenges of diversification 34:06 Definition of small wins in the context of a diversity initiative 35:29 Setting specific diversity goals in a construction company 36:28 Paul talks about ConstructReach and what they do as a company 38:18 First steps you need to take if you're looking at diversifying your workforce About Our Guest: Paul Robinson joined the Target Corporation in 2006 and quickly rose to become a Construction Project Manager. In 2012, he, his wife, and growing family, decided to move home to be tangible examples in their St. Louis, MO community. In 2015, construction leadership at Target reached out to Paul with a proposition: assistance in ensuring the construction pipeline stays filled with competent employees and increasing the diversity of those employees. Paul founded ConstructReach in May 2018 — a construction industry workforce development initiative and consultancy that seeks to increase the visibility of the construction industry by educating students about career opportunities within construction, connecting general contractors to interns, employees, and internship curriculum, and creating content, experiences, and a social network to expose a diverse population to sustainable construction careers. ConstructReach works with students, educators, high school counselors, large brands, and general contractors throughout the country to ensure they have the information and connections they need to facilitate the longevity of a new, more diverse construction industry. ConstructReach is currently adding general contractors, and expanding brands to its network. Resources: Restaurant Recommendations: Imo's Pizza: https://www.imospizza.com/ Sugarfire: https://sugarfiresmokehouse.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 Paul Robinson/ConstructReach: Paul Robinson - LinkedIn (https://www.linkedin.com/in/paul-robinson-a528151a/) ConstructReach - LinkedIn (https://www.linkedin.com/company/constructreach/) Facebook (https://www.facebook.com/constructreach/) Instagram (https://www.instagram.com/constructreach/) Twitter (https://twitter.com/ConstructReach) Website (https://constructreach.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!

Nov 9, 2021 • 37min
How to Use the A.I.D.A. Formula to Transform Your Marketing
Marketing is one particular area of business I've always been fascinated about. Probably because of the fact that I've been involved in sales and marketing my whole life but I always feel like I'm just getting started. There's so much to learn and it's always a pleasure to get expert advice on the matter whenever given the opportunity. So, I've once again invited Wayne Mullins — founder and CEO of Ugly Mug Marketing, Wayne is the first ever three-time guest on Construction Genius. Great marketing is essential to your business success, and I'm delighted to have him back on the show to share his expertise with us. Today, we talk about the A.I.D.A (Attention, Interest, Desire, Action) framework and break down why it's still relevant today. Here are some of the points we discuss in this episode that you may want to ponder on: How the A.I.D.A. framework can fit with your marketing messages, and How the A.I.D.A. framework can influence the way you communicate with clients Make sure to take down notes 'cause there's a lot of valuable takeaways from today's episode! Discussion Points: 0:00 Introduction 3:49 What is A.I.D.A and its importance in marketing strategies 5:07 Breaking down the acronym (A.I.D.A.) 6:28 Marketing vs Branding 7:40 The importance of branding in attracting and retaining customers 8:42 A for Attention 8:59 Why is it difficult to get people's attention? 10:57 This is why you need to be clear about the type of customers you wish to serve 11:59 Ineffective ways for businesses to seek attention 12:43 I for Interest 13:05 What is the customer avatar? 15:10 Tips in building your business' own avatar 15:51 What is a Magic Journal and how can it affect your marketing strategy? 19:14 D for Desire 19:31 Why is desire vital to marketing? 20:09 Maslow's Hierarchy of Needs 21:08 Examples of products/services and where they fall on the hierarchy 26:24 Why the A.I.D.A. framework is still relevant today despite it coming from a hundred years ago 29:19 A for Action 29:57 The three elements required for the Call-to-Action 32:32 The next step for construction company owners who would like to lay hold of the A.I.D.A. framework About Our Guest: Wayne Mullins is a husband, father of four, founder, and author. Over the past twenty years, he has had the privilege of scaling multiple companies and has helped hundreds of entrepreneurs do the same with their companies. His marketing agency, Ugly Mug Marketing, has won the praises of some of the leading influencers in the business world such as Neil Patel (Founder of Quicksprout), Chris Voss (author of Never Split the Difference), and Greg McKeown (Author of Essentialism and Effortless). Resources: Avatar Exercise Mentioned in Podcast: https://bit.ly/3CMjAa4 Full Circle Marketing Book Web Page: https://www.yourfullcirclemarketing.com/ Episode 118: How to Turn Your Company into a Marketing Machine (https://www.constructiongenius.com/podcast/how-to-turn-your-company-into-a-marketing-machine-ep-118/) Episode 137: The Natural Progression: Stranger - Friend - Client - Evangelist (https://www.constructiongenius.com/podcast/the-natural-progression-of-marketing/) Books mentioned in the episode: Full Circle Marketing, Wayne Mullins (https://amzn.to/3o1Qsps) Connect with Wayne Mullins: LinkedIn: www.linkedin.com/fireyourself Website: www.uglymugmarketing.com Do Your Project Executives Need Coaching to Help Them Develop as 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!

Nov 2, 2021 • 29min
Hit Rate! How to Craft Accurate Proposals and Win More Work
For construction professionals, the whole purpose of bidding work is to win work. But what are the elements of a successful bid? Some say most decisions heavily depend on the lowest price at the end of the bidding process. But today, Dave Wagner — Vice President of Product Marketing and partner development at STACK construction technologies enlightens us with how you can increase the likelihood of winning a project bid. Other important factors we discuss are: Why companies lose the projects they bid, The key elements of a successful bid, and Areas a company can focus on to make bidding more efficient With all the practical details we discuss today, you'll be guaranteed to learn a lot. So stay tuned until the end for tons of golden nuggets we'll be dropping along the discussion. Discussion Points: 0:00 Introduction 2:13 Your initial assessment of projects is crucial to how your bidding will play out 5:03 Determining which client or project type is right for you 9:57 The 2 time factors in winning bids 11:41 The key elements of a successful bid 12:48 The 2 major components of a bid 16:22 David talks about their Takeoffs Analysis Software 19:45 The key elements of a presentation 20:28 Focusing on this area first produces better results in bidding 21:42 STACK's 3 Primary Elements to an efficient process About the Guest: Dave Wagner is Vice President of Product Marketing and Partner Development at STACK Construction Technologies — the industry's leading cloud-based pre construction platform for pre construction professionals. Dave has worked in the ConTech industry for nearly 20 years and has been with STACK since November 2020. STACK provides a centralized hub where plans, specs, and other construction documents can be stored, evaluated, measured, and shared. For more information, please visit stackct.com. Resources: Questions about launching a podcast? Please reach out to me through this link: www.constructiongenius.com/contact Restaurant Recommendation: Restaurant in Phoenix: Fox Restaurant Concepts: https://www.foxrcevents.com/ Connect with Dave Wagner/STACK: LinkedIn: https://www.linkedin.com/in/dave-wagner-5184914/ Website: https://www.stackct.com/ Twitter: https://twitter.com/stackestimating Facebook: https://www.facebook.com/StackEstimating 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!

Oct 26, 2021 • 23min
How to Get Your Clients to Know, Trust, and Like You Using a Podcast
According to Listen Notes, there are over 2.5 million podcasts all around the world as of today. Big names in the podcast industry include Joe Rogan and Tim Ferris. I'm not Joe or Tim but I'd like to share with you how I grew my own business through my podcast. Some of the key points I talk about in this episode include: How you can market your business through podcasting, What are the RIGHT reasons for doing a podcast? How do you get your podcast off the ground? How do you stay consistent in publishing episodes for your podcast? We all have different strategies in marketing our own businesses, but you might want to consider podcasting as a marketing vehicle after listening to this episode. Tune in and discover what podcasting can do for your business! Discussion Points: 0:00 Introduction 2:01 Episode overview 2:23 Aligning your marketing strategy with podcasts 6:44 Building client relationships and delivering value to your listeners through podcast guesting 8:55 Kicking off with your podcast launch: what it really takes 11:57 Get started in podcasting with these awesome tips 13:04 Podcasting rule of thumb: Consistency (and commitment) is Key! 15:43 How creating killer content can help your podcast take off successfully 17:14 Ensure your content provides value to your audience 20:07 Shares his successful journey over years of podcasting Resources: Questions about launching a podcast? Please reach out to me through this link: www.constructiongenius.com/contact 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!

Oct 19, 2021 • 42min
Waste: Why It Occurs and How to Reduce It On Each Project You Build
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!

Oct 12, 2021 • 11min
How to Stop Being Overwhelmed and Start Being Effective
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!

Oct 5, 2021 • 30min
How Leaders Encourage Innovation and Squelch Needless Conformity
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!

Sep 28, 2021 • 41min
ESOP Excellence: An Insider's View of Executing an Employee Ownership Plan
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!


