What is the best financial business advice you have ever received? Three NRCA members share their answers.
After Hurricane Andrew struck Florida in 1992, the president of our company pulled the team together to acknowledge we were all likely to make a lot more money during the next year; however, he advised us against changing our lifestyle and making new long-term commitments. He said: “Live off your base salary and love off your bonuses. The good times don’t last forever.”
—John Campbell, Eagle Roofing Products, Rialto, Calif.
Know your costs. My father, Don McNamara, stressed it as the biggest possible casualty for any construction industry business.
—Rob McNamara, F.J.A Christiansen Co. Inc., a Tecta America Co., Milwaukee
Be patient and stay disciplined with your pricing. Too many of our peers get anxious when the economy shows signs of slowing down and begin dropping margins in fear of losing business. There is plenty of business out there. The last thing you want is your glass full of Kool-Aid when there is plenty of champagne being served!
—Kent Schwickert, Schwickert’s Tecta America of Mankato LLC, Mankato, Minn.
