Me and My Dad: The Triumphs and Trials of a Family Business | Ep. 102

The world of business consists of peaks and valleys. Sometimes, you rise. Other times, you fall. So when your business suffers a tremendous loss, should you choose to stay at the bottom of the pit? Or should you bounce back up, taking the lessons that you’ve learned with you as you go?

In every failure and mistakes made, there is always a lesson to learn and an opportunity to do better. This week at Construction Genius, Bill Schultz, President of W.M. Schultz Construction, joins us once again to share with us how the things that he learned from his father’s business helped shape his company to what it is today. He also discusses how the shutdown of his father’s business impacted his family and why being able to service your customers well is key to a business’ success.

If you find yourself facing challenges and need some help overcoming them, tune in to this episode and be inspired with Bill’s amazing story.

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What’s Discussed in This Episode:

1. Events that led to the creation of Bill’s company in 2000 [01:58]
   • What got him into construction [02:57]
2. Working in his dad’s company [05:01]
   • Standing up for co-workers against senior employees [07:08]
   • Choosing not to involve his father in internal conflicts [09:10]
   • Becoming a foreman and a better construction leader [11:22]
3. The most important qualities of a good leader [12:55]
   • Being able to detach from emotions to make the best decisions [13:20]
4. Bill’s work relationship with his family [15:44]
   • Shutting the family business down [16:40]
5. Key lessons that he learned and applied to his business [19:01]
6. The impact of the business shutdown to Bill’s family [20:19]
   • How his dad helped him in building his business [21:46]
7. Key takeaways on his father’s legacies [23:08]
8. His father’s next step after shutting down the company [26:05]
9. Bill’s initial challenges upon starting his business [28:41]
   • Things that he wanted to do just like how his father did in his company [29:30]
10. Important things that a construction executive should do  [31:34]
11. Three pieces of advice Bill would give to his younger self [33:13]
12. Envisioning a construction business that runs independently through systems [34:23]

About the Guest:

Bill Schultz is the President of W.M. Schultz Construction, Inc., a company based in Ballston Spa, New York, providing services for water and wastewater treatment facilities to bridges, site work, industrial facilities, cast in place concrete, and design-build. Being in business for more than 20 years, it has become one of the dominant players in the construction industry in New York.

Resources:

• Listen to Episode 92 “The Power of Communicating Your Company’s Values and Strategy, Everyday” with Bill Schultz (https://www.constructiongenius.com/podcast/the-power-of-communicating-your-companys-values-and-strategy-everyday-ep-92/)

Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to the Construction Genius: A Leadership Master-Class Podcast on Apple Podcasts, Spotify, and Stitcher.

Thank you for tuning in!