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How To Stay In Business During A Crisis (Fred Loucks)
Manage episode 442080443 series 3317856
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Fred Loucks shares his journey from working in single-family residential construction to buying Dunn & Stone Builders and surviving during the pandemic. He also talks about the need for businesses to prioritize creating a positive work environment and how they can help their employees look forward to coming to work. He highlights the importance of systematizing processes in the construction industry to improve efficiency and reduce waste.
Learn more about Dunn & Stone Builders here: https://www.dunnandstonebuilders.com/
Timestamps
00:00 Introduction and Background
03:08 Implementing Supply Chain Management Strategies
07:59 Buying the Business
19:03 Navigating the Challenges of COVID-19
26:20 Dealing with Rising Construction Costs
29:27 Honoring Contracts, Even When It's Hard
37:44 The Mindset of a Business Owner
44:26 Taking Care of Employees and Building Trust
50:59 Transitioning from Survival Mode to Growth Mode
53:17 Buying Out a Co-Owner
55:02 Using Story to Build Better Processes
58:55 Creating a Positive Work Environment
01:03:59 Systematizing Processes for Efficiency
01:07:24 Putting Customers First
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