How To Stay In Business During A Crisis (Fred Loucks)

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