3 Tips For Running a Construction Business with Matt Bachtel

Matt Bachtel of Bachtel Excavating joins Taylor today to discuss his journey from one man and a truck to a thriving multi-generational business. Matt shares his conservative approach to growth, emphasizing the importance of consistent, meticulous work, and open communication with his team. He reveals the surprising risks of staying small, the challenges of balancing family life with entrepreneurship, and the critical roles that both his wife and his right-hand man, Keith, have played in his success. Matt also offers invaluable insights into attracting and retaining young talent in the trades, fostering a positive company culture, and adapting to the ever-evolving landscape of the construction industry.Do you fear taking risks in your business? Are you concerned about attracting and retaining talent? Matt's conservative approach and focus on consistency created a company culture that attracts young talent. Today, he shares how open communication and a supportive environment have been key, and how, by prioritizing these values, you, too, can build a resilient business.Download the FREE Step-by-Step Guide to Recruiting & Retaining the Best Workers: https://www.conexpoconagg.com/recruit🎯 BIGGEST TAKEAWAYS:⚠️ FEAR OF FAILURE [07:44]: "It's rare that somebody can come in with very little experience and take on all that debt and have it work out." Hear Matt's perspective on leveraging debt responsibly and avoiding the pitfalls of overextending your business.✨ DESIRE FOR GROWTH [22:20]: "Word of mouth, social media...we've gotten the reputation as being the place to send your son or daughter...a safe place to send that kid..." Discover how building a positive company culture can attract the next generation of skilled workers.⚡ PRACTICAL TIP [29:47]: "We collect good data and job costs, but we don't do enough post job analysis...to really use all that good data and apply it to the next job." Learn how to implement post-project reviews to improve efficiency and profitability.CHAPTERS:00:00 - Managing a Family Business and Balancing Growth02:03 - Mitigating Risk in Business Growth03:17 - Overcoming Fear of Risk When Starting a Business05:19 - Determining When to Rent vs. Buy Equipment07:19 - Managing Debt and Equipment Maintenance Costs09:59 - Balancing Conservatism and Calculated Risk-Taking12:14 - Defining Effective Leadership Qualities15:19 - Reflecting on the First Year in Business and Early Growth17:24 - Making the Decision to Hire the First Employee18:28 - Navigating the 2008 Financial Crisis20:47 - Maintaining Business Diversity (Commercial and Residential)22:18 - Attracting and Retaining Young Talent in the Trades23:45 - Building a Positive Company Culture26:04 - Communicating Finances with Your Team28:01 - Conducting Post-Project Analysis for Improvement30:30 - Balancing Productivity with Team Debriefing and Training31:30 - Long-Term Business Planning and Succession Strategies35:11 - Balancing Work and Family Life as a Business Owner37:46 - Supporting Employees' Well-being and Mental Health40:31 - Embracing Change and Adapting to Industry EvolutionLINKS:Taylor White on LinkedIn: https://www.linkedin.com/in/taylor-white-9881a5170/?originalSubdomain=caTo see highlights from the 2023 show, go to: https://www.conexpoconagg.com/show-experience/show-highlightsCONNECT WITH MATT BACHTEL:LinkedIn: https://www.linkedin.com/in/matt-bachtel-927a2547/Bachtel Excavating: https://www.bachtelexcavating.com/#excavating #leadership #culture