Commercial Construction: Elevate the Industry

Landon Royals, like many entrepreneurs, enjoyed his business, his people, his clients and his lifestyle. What he didn’t have was a plan that allowed him to get the money out of his business while remaining a vital part of its future. All that changed when he decided to “explore options” that would allow him to achieve his goals for him and his family. The interview does a deep dive into the process of selling his business. Landon opens up about his initial concerns regarding the impact of the sale of his business on his employees, clients and eventual legacy. He discusses the sales process and life after for him as he is ready to “re-up” after over 2 years of working for the new owner. He describes how Larry Regan, a principal at Source One Business Services, prepared his financials that maximized the valuation of the business. Everyone who sells a business typically does it once. Landon admits he knows how to build a business but had no experience on how to sell one. He describes how Adicorp found and introduced the buyer and helped pave his path to a very challenging and fruitful future as the former owner of the business. Whether you’re considering selling your business, thinking about preparing to sell, wondering about a viable exit plan or just interested in hearing his story, you will enjoy this interview.

As the finale for Season 3, Dave decided to compile excerpts of interviews and solo efforts during the first 3 seasons into a single episode, the “Best of”. These clips embody the main reason behind the podcast; “to enlighten everyone from the owner to intern, through interviews of industry leaders and solo efforts about all aspects of the business, so you can make the best decision about where you want to go in the industry and how to get there”. Dave hopes you enjoy this episode and are inspired to revisit some of the full episodes and listen to the ones you may have missed. Dave send thanks to everyone who contributed to the over 40 episodes and helped make it so special to so many. He intends to do another “Best of” next season as there is so much good content to be shared. As always, please rate, review and comment on the podcast. Visit Dave’s website at www.adicorp.com and leave a message. THANK YOU!

The interview with Pastor Dan Crow is a major deviation from our typical business podcast. We talk about everything from heaven, hell, and redemption to poverty and the Church’s role in it. During the intro, I mention that it’s more of a life issue and it is a risk mixing things like religion with a business podcast. I’m doing it to see if it makes sense to continue on a broader, more life-based podcast. Dan Crow answers very difficult questions and I must say, he does a great job and I think you’ll be intrigued. Maybe you have struggled with religion over the years, maybe not… Either way, listen to it with an open mind and let me know what you think.

As he did in Season 1 and 2, Dave caps off this season by answering many common questions and concerns about the commercial construction industry. The answers are consistent with his podcast series and daily interactions in the business. These questions are relevant to everyone in the industry, from owner to intern, and can serve as a guide on how to move forward in the business. Dave answers these questions with both passion and realism, mostly from his personal experience. This is a great episode for all in commercial construction and will help you understand the issues and challenges faced while navigating the industry.

Charbel has evolved STI into a leading company that provides passive fire protection in commercial buildings throughout the world. You may not see it but there are products making up tested systems built into the building that are designed to keep smoke and fire “compartmentalized” for a specific period. STI focuses on only firestop and has by far the most tested systems in the industry. Charbel explains how his company has realized, often through catastrophic events, just how important that “Life Safety” issues is. Subsequently, his company has dedicated itself to keeping both people and property safe. Charbel tells his story, which is both interesting and inspiring. From his roots overseas, he discusses the role of his parents – an amazing story – and how it helped shape him from his early days to now. He offers “fatherly advice” when asking “do you want to be the person in the cubicle, or the person running those people”, all in a very candid way. He describes how one’s goal relates to their basic happiness. Lastly, he describes how he developed STI, called by many, “A Company with a Soul”. This is a truly inspiring interview with a unique entrepreneur. For owners, you can learn about building a successful, sustainable culture, one that is invigorating to all that work there. For everyone else, where can you get to know the story behind Charbel and STI? Listen to this podcast…

Dave has been after Brian now for two years for this interview because he knew it would be special. Brian, the driving force behind the extremely successful development company, opens up about the many challenges and successes he has encountered for more than 25 years in business. Brian explains how he got into the business and shaped it into a “brick and mortar” giant in a time when online shopping seems to be the future for most retailers. He explains how his business works and the impact of financing. He believes that because of Covid 19, the industry will be stronger for local shopping malls affiliated with a residential lifestyle. Brian talks about his former partner, the opportunity he was presented with and the things that he learned most from him. Brian has never forgotten where he came from and attributes much of his success to his parents and siblings. The backdrop of this is that Brian is “grounded”, a devoted husband, father of six and a long-time friend to many when others attaining his level of commercial success often lose themselves. He is the real deal. For all you owners out there, and for everyone else striving to make your mark in whatever you do, this interview is something you don’t want to miss.

In this seriously introspective solo effort, Dave compares the ways and reasons structures are built with building the best version of oneself. This is, after all a construction podcast and the parallels are amazing. Dave begins the episode by assuring the listeners that he is a “work in progress” and has many of the same questions and struggles everyone does. His role here is to simply pose the right questions and offer some perspective that may be helpful to the listeners. He walks you through phases of building a structure including design, strength, the need for a team and experience within the industry and compares it to how we “build ourselves”. Dave poses the big question, “Are you built with a purpose, or do you take it as it comes”. At the end of the episode, Dave shares a very personal moment, about the person he admires the most. You will not want to miss this. For everyone who wants to improve as a person by building a better you, this is a special podcast for you.

Brian, a nationally recognized construction attorney and association executive, is a perfect fit for our audience. He understands the nuances of the legal and practical side of being in the construction business and explains them in a way that is both understandable and usable. Brian discusses the first thing every manager should do when getting a contract and he calls it “RTFC”… he details the basic issues subcontractors face in the litigious society we live in. He talks about how different project delivery methods as well as increasing technology impact risk. Brian details certain “showstopper” and defines “Force Majeure” and its place in the industry today. Brian also offers his perspective as the Executive Director of ConsensusDocs, a revolutionary way to review contracts and how to use it. Whether you’re an owner, executive, manager or intern, this is a very informative interview on the legal side of our industry. I know I was smarter after it and know you will be too!

Virginia (Ginny) is the CEO and Scott; her son is the President of the Cameron Group. The Cameron Group of companies is a specialty contractor providing everything from insulation in residential homes to insulation, firestop and rainscreen systems in commercial buildings. The company was started in 1907, yes that’s right, 1907, over 121 years ago. Ginny represents the 3rd generation and Scott is the 4th. It’s inspiring to hear how Ginny grew in the business, starting at the bottom counting inventory and how that influenced Scott’s entry into the business. Ginny describes it as a good, honest business. Scott talks about his respect for the installers and the staff in general. They couldn’t be more sincere. You will hear why they are successful in a family business and how they work together and the sacrifices they have made to continue to build a successful business. They discuss why they continue to accept risk with new ventures, and it all makes sense. For owners, you will hear what makes them successful, evolving through four generations when the likelihood for success in generation two is small. From the perspective of all others, you will hear their story and be inspired to be better at whatever you want to do!

Virginia (Ginny) is the CEO and Scott; her son is the President of the Cameron Group. The Cameron Group of companies is a specialty contractor providing everything from insulation in residential homes to insulation, firestop and rainscreen systems in commercial buildings. The company was started in 1907, yes that’s right, 1907, over 121 years ago. Ginny represents the 3rd generation and Scott is the 4th. It’s inspiring to hear how Ginny grew in the business, starting at the bottom counting...

In this solo episode, Dave discusses the benefits and challenges faced when getting out of one’s comfort zone. It’s defined as “A place where you feel comfortable, and your abilities are not being tested” – or – “A place where you don’t do anything new or different” … If this sounds like something you want to change, Dave does a deep dive into what it is, how it can manifest in us, and the simplest way to overcome it. Staying in one’s comfort zone is based in fear of the unknown or the fear of failure. It must be understood and embraced as a prerequisite for change. Dave talks about ways to look at setbacks as temporary and how they can be used as building blocks for growth. He urges everyone to use self-reflection as a way to measure personal growth in the areas of your life that really matter. Whether you’re an owner, intern, or anywhere in between, the podcast will help you understand that getting out of your comfort zone is an ongoing process that offers a better life every step of the way.

Don Fries who is “here to help”, shares his thoughts on what a good coach provides to those who want to improve their life. He believes that the coach, different than a mentor or consultant, allows the client to lead and reinforces why it needs to be that way. Don talks about the stigma that too often inhibits people to engage a coach – a specialist trained to work with people to achieve the goals that they establish. Don uses his experience to highlight issues encountered by those at all levels in business. He discusses practical steps to take when considering change and makes a strong case to engage a coach. Don talks about the differences in how one sees social issues. He describes what is important to the younger generation and how this can be either shielded off or embraced by the people senior in both age and experience. He describes how good leaders “know what they’re good at and know what they don’t know”. Don engages those considering retirement and breaks down the things that are – or should be – considered by them. He discusses the issue of “relevance” and how it concerns many who have their work as a big part of their perception of “value”. Don has a strong sense of self, a result of countless interactions with others over the years and through his own self-reflection. He makes it easy to trust him and what he says. By listening to his interview, you will be motivated to become a better version of yourself and one path to achieve it.

Every business, regardless of the industry, must navigate the world of risk management. In commercial construction, Property Casualty insurance is a “must have”, not only for the protection of the company assets, but also for clients to even consider you for the project award. In this episode, we are fortunate to have Joe Wolf, the Sr. Vice President Alliant Insurance Services, Inc. Alliant is a full-service broker with over 7,000 employees nationally. Joe details how this company, with its broad base, can help him as a broker help you understand exactly what coverages you should have and how to get the best value from an insurance program. Joe is a very successful and well respected broker and shares his thoughts about being “appropriately covered” in todays’ construction market, neither under or over insured. He explains the basic types of coverages every business should have. He details the levels often required by the clients and shares his personal experiences with stories of those who were not covered adequately and the resultant unintended consequences. He describes how the business works so regardless of your level in the company, you will understand this often-overlooked issue. Joe talks about the need for the owners to challenge your current insurance broker, even if you have a strong relationship, as it will be in the best interest of your company. In either case, you will understand what a good broker should provide for you. Insurance is not sexy but is essential when managing the risk we face every day in this business. Those who understand and embrace it won’t be one of the unfortunate companies who were improperly insured.

As the CEO of the non-profit Open-Door America, Bill Simpson is a foremost expert on something no one wants to talk about, Intergenerational Poverty. Bill traces back decades to the root problems in Baltimore and details how and why poverty is getting worse, not better. Bill believes that government is well intentioned but highlights why things like drugs and lack of jobs, all related to poverty, continue to feed this downward spiral. He discusses his interactions with Bill Clinton, the evolution of the Welfare System and how it has “tamped down” a potential insurrection. Bill’s experience and background enables him to take us into the daily lives of people who live in poverty and what drives them. Bill details the church’s role as the largest recipient of charitable, non-taxed dollars and their impact on public assistance. He discusses the issues faced by other non-profits, why mass incarceration has failed and many more reasons, all based on historic facts, that find us where we are today. One might question “how is this related to commercial construction?” Bill explains how poverty, beyond being a humanitarian issue, is a problem that impacts everyone in the inner city Baltimore and beyond. Bill describes how Open-Door America is a successful template that satisfied the need of the construction and other industries by identifying a viable workforce, with what today’s young men and women need to begin to change intergenerational poverty - a Living Wage Job. This interview successfully pulls back the curtain on the real “street problems” faced by those less fortunate. He identifies traits that are consistently evident in those most prepared to change, focusing on them first. It made me ask myself, “how would I have coped if I was born into this environment”? And now, has forced me to ask, “how can I help by providing jobs?” After listening, you might be inspired to produce your own answer.

In this brief promo, I will share with you what the first episode of Season 3 will look like. See you on 2-22-22

I am so excited to release season 3 of my podcast series Elevate The Industry. Tune in on 2-22-22 to learn about Selling Your Business.

Dave has over 40 years of experience in commercial construction. Starting as a salesman for a residential insulation contractor in New Jersey, Dave quickly recognized the opportunity for specialty contracting in the commercial sector. He started his own business and focused on commercial building insulation and passive fire containment. As the building envelope evolved, Dave’s company became an original air barrier specialist. After Dave specialty contracting businesses, he managed the...

Dave has over 40 years of experience in commercial construction. Starting as a salesman for a residential insulation contractor in New Jersey, Dave quickly recognized the opportunity for specialty contracting in the commercial sector. He started his own business and focused on commercial building insulation and passive fire containment. As the building envelope evolved, Dave’s company became an original air barrier specialist. After Dave specialty contracting businesses, he managed the...

Dave walks you through the three basic types of exit plans. He discusses the reality of winding down a business and the pitfalls one will face. He then takes you through the nuances of an internal sale, one where management buys out the owner. On a subsequent podcast, Dave interviews experts in “Exit Planning” that does a deep dive into everything from grooming your staff to setting up a sale that will enable the company to do its business while offering the seller the best tax treatment on the proceeds. The focus of Episode Two is on “external sales”, selling to a national company who is in your space. He discusses everything from the initial NDA to closing and beyond. He will walk you through the process, including the valuation of a typical business, due diligence done without interrupting your staff, potential reaction of your employees and clients, and life after the sale. Whether you are looking to sell your business, or are in a business being sold, this podcast will be a valuable resource. Look at this podcast as an entertaining form of continuing education, on your schedule, from people who have been through it…. Together, we can “Elevate the Industry”.

As he did in Season 1, Dave caps off this season by answering many common questions and concerns about the commercial construction industry. The answers are consistent with his podcast series and daily interactions in the business. These questions are relevant to everyone in the industry, from owner to intern, and can serve as a guide on how to move forward in the business. Dave answers these questions with both passion and realism, mostly from his personal experience. This is a great episode for all in commercial construction and will help you understand the issues and challenges faced while navigating the industry.