Richard@Billionaires.com

Exclusive Interview with a Bridge Building Billionaire

“Firmly established ethical standards and a strong belief in quality, innovation, and integrity”

This interview started as a fully public interview, but the same week our YouTube Channel hit 1 million subscribers, Billionaires.com started getting a lot of attention, and it was a bit too much for the private family. We respect their wishes and present the following anonymized version, which we hope you find valuable.

Today, we are excited to share insights from a successful entrepreneur leading a corporation that oversees several companies employing over 4,000 people. Their businesses trace back to the 1930s, starting with a welding operation that grew rapidly through the 1950s and 1960s, particularly in bridge construction.

Over the years, the company diversified into steel, concrete, real estate, construction, hospitality, transportation, air quality and safety consulting, and more. Their contributions to the community have been recognized, culminating in a bronze sculpture dedicated in their honor.

This interview would not have been possible without the help of one of our founding partners at Billionaires.com, Dave Zook. Dave is a friend; he is family-oriented like myself, runs an investment firm called The Real Asset Investor, and we have invested together on several occasions. You can sometimes catch him speaking at our events, and if you do, he is a valuable person to meet and get to know.

What was the major turning point in your journey that led to significant growth?

For us, since getting started in 1931, growth has been very gradual. We developed new methods, processes, and technologies for constructing bridges with steel girders across the nation. While we completed a series of acquisitions over the years, including one notable firm, there wasn’t a single acquisition or breakthrough that made us 10x or 100x larger; it was really gradual over 93 years. However, when I and my brother bought out our family members, we clicked well with our differing talents.

Our firmly established ethical standards and a strong belief in quality, innovation, and integrity have driven our success. To this day, those guiding principles and our dedication to customers, employees, and our community continue to propel us forward.

What is the most valuable strategy you wish someone had shared with you early on?

Much of it comes down to fundamental business best practices that aren’t very common today. These include:

  • Pay suppliers promptly (discounted if possible by doing so).
  • Take care of employees; they are essential to maintaining a strong, consistently performing company over many decades.
  • Satisfy your customers so they want to buy from you, earning their repeat business.

What is the most costly mistake you’ve witnessed that could be avoided?

I would say the #1 mistake that we could have avoided if we had known better was around the timing of assuming the ownership of another real estate developer. In real estate timing, interest rates and market sentiment really make a difference and due to unfortunate timing, we had to sell properties to help make up for the bad ones we had taken on. I would recommend measuring twice, making sure you are right and have high conviction, and then going ahead and taking calculated risks. Nobody grows over a century without some bumps and lessons learned along the way like this many times over.