Ep. 136: The Power of Networking and Relationship-Building with Dane Cotten
Manage episode 357123793 series 3374954
The Power of the Right Balance of Relationship Building vs. Profit with Dane Cotten
This week, Taylor interviews Dane Cotten, owner of DC Excavation, about a number of topics including his background, the growth of his company, and the importance of networking in the construction industry. Dane also reviews the family tradition that inspired him to start his own excavation company, his successful use of networking and relationship-building to grow his business, and the importance of these practices in the construction industry. Some major news about Taylor’s live podcast at the upcoming CONEXPO-CON/AGG 2023 is announced here today, and with the show less than a month away, our host strongly encourages listeners to register and participate in it.
Together, Taylor and Dane go on to discuss the benefits and challenges of using distinctive machinery to differentiate companies and attract top talent, explore how investing in machinery and technology demonstrates to potential employees that the company values their work, and how social media can be used to hire workers from all over the world. They also touch on the challenges of retaining talent, building relationships with employees to create a positive work environment, and look at the transition from residential work to commercial work in the construction industry. The importance of building relationships with general contractors, focusing on paperwork and cost tracking, and not abandoning residential work entirely are analyzed as well. Today’s episode is yet another ‘must listen’ filled with valuable insights and advice for professionals in the construction industry, and showcasing the experiences and perspectives of undisputed experts in the field.
The Finer Details of This Episode:
- Taylor’s upcoming live podcast at CONEXPO-CON/AGG 2023
- Dane Cotten, his background, and his family's long history in construction
- The origin and growth of DC Excavation
- Investing in machinery and technology
- Some useful tools for finding and hiring new employees
- Balancing growth with maintaining the company culture
- The transition from residential work to commercial work in the construction industry
- Building relationships with general contractors
- The importance of long-term thinking and being adaptable in the industry
- "The biggest thing is just have that cash in the bank because you're going to need that cash to make it through."
- "Residentials, they pay nice. So that's why we kind of run a residential crew, and then we have a commercial crew, and our residential crew basically cash flows the business in order to be able to do the commercial stuff."
- "Sometimes a relationship is worth more than the $10,000 in profit you're going to make that week."
- "It's a short-sighted thinking of like, 'I could screw over this GC, and I could maybe make an extra $120,000, $150,000 on this project.' But instead, you need to think long-term."
- "Used in the right application, there's just so much you don't have to do by hand now because of tilt rotators."
- "Building relationships and open communication - it just helps with all of it."
To learn more about the 2023 CONEXPO-CON/AGG Show and to register, go to: https://www.conexpoconagg.com/show-experience