4.6 • 756 Ratings
🗓️ 16 May 2023
⏱️ 46 minutes
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In this Pro-Talk podcast Ian talks to George Hodges-Fulton of Pinnacle Business Guides about business operating systems, developing a leadership team within construction companies, and teaching business skills to tradespeople.
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0:00.0 | You know, in our industry in remodeling, 10% net profit, it's kind of been the benchmark |
0:09.4 | Hall of Fame, although in the last couple of years it's been kicked up to maybe 12.5.15 |
0:13.7 | somewhere in there. |
0:14.5 | And I want to say, okay, guys, let's get out of our industry. |
0:18.1 | Can we look at IT, right? |
0:20.4 | You know, those guys are making 25, 30, 40 percent net profit, right? |
0:24.1 | You know, and it's like, I don't think that we as a model is ever going to make that. |
0:27.8 | But why does it, why do we have to compare ourselves against ourselves, right? |
0:30.8 | Let's get outside of our industry and look at other benchmarks. |
0:43.9 | Welcome to the Fine Home Building Pro Talk podcast, our regular discussion with building industry professionals. |
0:50.9 | This is Fine Home Building contributing editor and production manager at TDS Custom Construction, Ian Schwant. |
0:56.3 | Today I am joined by Certified Pinnacle Business Guide, George Hodges Fulton. |
1:01.9 | You can find the Fine Home Building, Pro Talk podcast, and the original Fine Homebuilding Podcast at finehomebuilding.com slash podcast. You can leave feedback and ask questions there, too. |
1:09.7 | So, George, give our listeners an overview of your background |
1:12.3 | in construction and consulting. It's been a pretty varied career for you up to this point. |
1:19.2 | Yeah, you know, that's a great question and it's not straightforward, as you indicated. However, |
1:25.9 | at the end of the day, I really like helping people, right? |
1:29.5 | That's where I get the fulfillment from is when other people around me are succeeding or winning, right? |
1:37.3 | I also like to complete projects. So, you know, by definition, I'm sort of a natural project manager. I'm sort of genetically |
1:45.2 | coded to getting things done. But I always wanted to be a high school history teacher. So I do, |
1:51.2 | I do hold an undergraduate degree from the University of Virginia in history. When I graduated, |
1:58.2 | I realized that being a teacher wasn't going to fulfill my financial goals |
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