Embracing Setbacks and Reinventing Processes
In the ever-evolving construction industry, true champions are those who can navigate the ups and downs with unwavering resilience. Brock Fankhauser, a seasoned veteran with over 25 years of experience in building subdivisions and communities, shares his insights on what it takes to be a construction champion.
According to Brock, the ability to respond to setbacks and failures is a crucial trait. He emphasizes that champions in any field, including construction, have had to learn how to bounce back from adversity. "Anyone who's a champion in anything has had to learn how to respond from setbacks, maybe even failure. That tests your grit, because you're not going to be on top of your game at all times."
The key, Brock suggests, lies in the willingness to reevaluate and reinvent processes. "If you can rely on a process or tool, retool a process that may have failed you into something better, I think you're going to figure it out." This mindset of continuous improvement and adaptability is crucial in an industry that is constantly evolving.
Embracing Collaboration and Networking
Brock also highlights the importance of building a strong network and collaborating with other industry experts. He acknowledges that no one person can be an expert in every aspect of the construction business, and embracing the strengths of others is the path to success.
"Knowing other builders who are better at something. A lot of builders are better than I am at scheduling. But I'm better than a lot of builders in marketing and negotiations and things like that. And getting yourself part of the network where you can have regular calls with a group of guys, you can beat the crap out of each other to make each other better. I think that's a secret sauce right there."
By fostering these collaborative relationships, construction champions can learn from each other, fill in the gaps in their own expertise, and ultimately elevate the entire industry.
Challenging the Status Quo and Negotiating Effectively
One area where Brock believes construction companies can improve is in their negotiation tactics. He encourages builders to challenge the status quo and push for better deals, even in areas where the industry has traditionally accepted the status quo.
"It's not unethical. It's not illegal. It's pushing boundaries. Right? It's like what Tom Brady would do, on his metrics. He wants guys to run that much faster, get the plays that much tighter. Right? So, it's calling it tighter, really, if you want to think about it."
Brock's approach emphasizes the importance of not accepting the standard terms and conditions, but rather, pushing for better deals that benefit the company. This mindset can be applied across various aspects of the business, from material procurement to trade partnerships.
Confronting the Challenges of Industry Consolidation
As the construction industry faces increasing consolidation, with larger players gaining more market share, Brock expresses concern about the potential impact on smaller, independent builders. He believes that the barriers to entry are becoming higher, making it more difficult for new players to enter the market.
"The sad thing is, and I've seen this talking to some of these bigger companies, they love squeezing out competition. It's like myself, right, as a small [builder], I love competition. I grew up loving competition in the athletic world. I like it in business. I think it makes us all better, but these bigger companies, they don't like it."
To address this challenge, Brock has spearheaded the creation of the 1776 brand, a community-focused initiative that aims to preserve the emotional connection and patriotism associated with the American dream of homeownership. By building a network of like-minded builders and developers, Brock hopes to create a counterbalance to the consolidation trend and empower smaller players to thrive.
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Conclusion
In the ever-evolving construction industry, champions are those who embrace setbacks, reinvent processes, collaborate with others, and challenge the status quo. Brock's insights highlight the importance of adaptability, networking, and a relentless pursuit of better deals and outcomes.
As the industry faces the looming threat of consolidation, it is crucial for construction professionals to come together, support one another, and preserve the emotional connection and pride that has long been the foundation of the American dream of homeownership. By embracing these principles, construction champions can navigate the industry's challenges and seize the opportunities that lie ahead.
Unlocking the Secrets of Construction Champions: Navigating the Industry's Challenges and Opportunities
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