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News from the Construction Suppliers Association

November 8, 2017

It's Time for a Difficult Conversation

Jim MoodyBy Jim Moody, CAE
CSA President

I was with one of our Next Generation Learning Groups last week, and we talked a lot about why family businesses tend to fail. You are, I’m sure, aware of the statistics. Only about 1 percent of family businesses make it to the fourth generation. Many of our members are in the third, fourth or fifth generations, so the deck is stacked against you.

The reasons we discussed are the ones you know – lack of an interested heir, lack of a capable heir, mismanagement by the prior generation, inability of the prior generation to let go. Plus, there are all the other factors that affect all businesses including downturns, debt, failure to plan for the future, etc.

As I thought about the issues specific to families and listened to the folks in the group talk, I was struck by the fact that most of them hinged on an unwillingness to have a difficult conversation.

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What Are Your Thankful For? Let Your CSA Friends Know

Thankfulness GraphicThanksgiving is just around the corner and CSA would like to know what you're thankful for this year. Is it your family, your friends, your business, your health? Or has something made you especially mindful of giving thanks?

Send CSA an email and tell us what you're thankful for by Nov. 17.  We'll compile the responses and publish them in the Thanksgiving Framework on Nov. 22.Our email is [email protected]


Estimating 1-2-3 Course Added to CSA Calendar for November

blueprintsCasey Voorhees will teach an Estimating 1-2-3 Blueprint/Take-off course in Baton Rouge, La., on November 28-30.

Days 1 and 2 of this course combine some intro material with the basic blueprint reading content. Day 3 covers more advanced plans and complex roof systems.

CSA members can attend two days of course instruction -- days 1 & 2 or 2 & 3 -- for $450. The member price is $650 for all three days of the workshop.

For more information, click the link below. To register, please email Katie Bodiford at [email protected] or call (678) 674-1860.

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Last Call for the New Store Manager Roundtable -- Mississippi & Louisiana

CSA is now forming its third Store Manager Roundtable, serving dealers located in Mississippi and Louisiana, and the deadline is Friday, Nov. 10. If you are interested in having your store managers participate, please click on the link below and submit a participation form by the deadline.

Dealers have consistently rated CSA roundtables as one of the best member benefits we offer.The atmosphere is open and honest, and your staff won't be placed in a roundtable with direct competitors. Ken Wilbanks will facilitate this new group, bringing more than 35 years of experience in LBM, hardware and home-center operations.

We will limit participation to 10 companies and 20 people. No company may send more than three participants, but we have a separate offer for companies with more than three people.

Click below for more information and the participation form. If you have questions about this (or any) of the CSA Roundtables, contact CSA President Jim Moody at [email protected] or (678) 674-1860; ext. 105.

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Strengthening Business Relationships: Make Three Attempts

By Shari Hartley, President
Candid Culture

If you work with other people, there is likely at least one business relationship you wish was stronger. If only that person included you on necessary communications, didn’t gossip about you, or gave you honest feedback versus telling you everything is fine and then working around you.

What often makes work hard isn’t the work at hand, but the people we work with – the power struggles, cc-reply-to-all when everyone doesn’t need to know, and the gossip that pervades most organizations.

You need to communicate and work well with the people you work with regularly. And like any relationship, business relationships require work. But what happens when someone doesn’t return your efforts for a positive working relationship? S/he doesn’t return emails or voicemails, ignores requests, and/or goes above you instead of coming to you when issues arise?

Make three attempts at strengthening a business relationship.

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Get the Most for Your Business: Valuation Methods for Buy-Sell Agreements

Federated LogoA Buy/Sell Agreement helps a business owner "lock in" a value for the business. The agreement does this by using a "valuation formula." The formula you use could mean the difference between receiving liquidation value or fair market value. Does your valuation formula lock in fair market value?

Here are three formulas for determining the value of a business.  READ MORE


Quiz: Are You A Workaholic?

By Rose Leadem, Staff
Entreprenuer.com

Do you work through lunch? Check email while on vacation? How about canceling on social plans so you can catch up on work? If you answered “yes” to these questions, then you might be a workaholic.

The industry you’re in can also impact how much you work, and in turn grant you the “workaholic” label. Sixty-nine percent of people in marketing and advertising consider themselves workaholics, while 52 percent of people in construction and 45 percent of people in finance and insurance do as well.

Take the quiz and find out.  READ MORE


 

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