If you know me, you know I don’t like numbers. I avoid doing any kind of arithmetic whenever I can, which is why I am always late in doing my taxes. Words are my thing.
But I find myself paying more attention to certain numbers as I see my friends retiring or talk about doing so sooner rather than later. I check my account balances more frequently than ever before, and I am more aggressive about my spending limits and savings. My retirement plans, however, are far different from those of you, our readers. Mine are simple compared to yours. I don’t have a successful business to worry about, and I don’t have to worry about succession planning. Still, I learned a lot by reading the article that starts on page 28.
In this first feature, three industry execs with succession experience share their stories, and I think you will learn a lot from them too. The three men represent various stages in the retirement/succession process. Tim Wies has almost fully released the reins to his son, Cameron, and he is looking forward to his new title: Director of Fun. Ty Crane became president of his company three years ago after his predecessor retired. While the Crane name is the name on the family business, Ty had to prove himself worthy and work his way up before he was ready to accept the challenge. And Mark Nabity is halfway through the transition with his partner, who will lead the company after Mark retires. Because this isn’t a family business, the lead-up to the transition was somewhat different from what Wies and Crane experienced, but the end results for all are that each man knows his company will be left in capable hands after they retire.
In addition to discussing their experiences with succession planning, they also give tips for looking for the current potential leaders within their company. It’s a never-ending practice that needs to be examined throughout the career of any business owner, so make sure you read this article and consider taking notes!
Then flip to page 34 to learn more about the prefabrication work being done by KHS&S. This article takes you through the benefits and advantages that KHS&S has experienced thanks to prefab, and it also gives you a look inside their work on the largest residential project in the history of Seattle’s skyline. (AWCI member contractors: Your work can be featured on our pages too! Let me hear from you—[email protected].)
Finally, the article on page 42 taught me some new things about gypsum recycling. It can be a complicated and controversial subject, and the practice has not yet gained wide acceptance in the United States. But as we have seen more and more often over the years, greater responsibility (liability?) is being placed on contractors, and gypsum recycling is likely going to be added to your to-do list in the future. Much like succession planning, which takes years, gypsum recycling is something drywall contractors need to prepare for. Start now!
