Rens Hayes is the co-founder of H+O Structural Engineering and the host of the "Design Development" podcast. With a deep passion for creating high-powered organizations, Rens leverages his expertise in structural engineering to facilitate insightful conversations with top industry performers. He is a lifelong learner dedicated to improving the real estate development, design, and construction sectors by focusing on efficiency and optimal performance.

Episode Summary:

In this episode of "Design Development," host Rens Hayes delves into strategies to increase profit margins by 66% for architectural and engineering (AE) firms. By identifying and eliminating the two primary margin killers—rework and scope creep—Rens offers actionable insights that can also benefit the broader real estate and construction industries. This discussion ultimately aims to enhance both the financial health and the organizational culture of firms.

Rens kicks off the conversation by framing the problem of commoditization in mature industries such as real estate and construction, where firms often compete on price rather than value. He explains how this pressure to reduce fees can negatively impact organizations, leading to excessive work without sufficient financial return. Rens uses real-world statistics and examples to highlight the scale of wasted efforts on rework and scope creep, driving home the point that improving efficiency in these areas can significantly boost profitability and morale.

By diving into specific examples of rework and scope creep, Rens brings clarity to these often-overlooked issues. He provides a compelling argument for why firms must focus on reducing waste and improving operational efficiencies. The episode is a treasure trove of strategies for firms wanting to free up valuable time and resources, resulting in higher profit margins and a more motivated workforce.

Key Takeaways:

• Identify Margin Killers: Rework and scope creep are significant drains on AE firms' resources, consuming up to 20-30% of productive time.
• Mature Industry Challenges: In mature industries like real estate and construction, firms often face commoditization, forcing them to compete on price, which impacts overall profitability.
• Importance of Efficiency: Reducing wasted efforts from 20% to 10% can lead to a 51% increase in profit margins, proving the high value of operational efficiency.
• Increased Employee Morale: Improved operational efficiency can reduce the need for overtime, thereby boosting employee morale and reducing churn.
• High-Value Task Focus: Freeing up 10% of wasted time allows firms to redirect efforts towards tasks that add greater value for clients and enhance the bus

Thank you so much for listening and thank you for joining the Design Development community. Don't forget to subscribe to hear about the latest episodes dropping every Wednesday. If this episode resonated with you, share it with a friend.

Our goal is to help people in the industry identify opportunities for growth by sharing the journey of top performers. There is no one path. Success isn't a straight line. There is something to learn from everyone's story. Let's go!

Leave your thoughts in the comment and reach out if you want to be valuable guest on the show!
Design Development Podcast!

Follow us on LinkedIn, Instagram & YouTube

Find out more at https://www.hayesoneill.com/podcast

Rens Hayes is the passionate and insightful host of "Design Development." With a wealth of experience in architecture and engineering, Rens has dedicated his career to advancing professional growth within the industry. He leverages his podcast platform to share invaluable lessons, engaging discussions, and expert advice to help individuals overcome career plateaus and achieve their professional aspirations.

Episode Summary:

In this episode of "Design Development," host Rens delves into the crucial topic of breaking through career plateaus. The episode aims to challenge conventional career-growth mindsets and provide tangible strategies to advance professionally.

In a thought-provoking segment, Rens emphasizes the importance of judgment over time, referencing Naval Ravikant's insights from "The Almanac of Naval Ravikant." He draws analogies to illustrate how individuals can maximize their value by enhancing judgment and credibility. Rens also underscores the significance of refining weaker areas instead of focusing solely on already strong skills, thereby fostering continuous personal and professional development.

Key Takeaways:

• Judgment Over Time: Leveraging superior judgment can significantly amplify one's professional value, especially in decision-making roles.
• Holistic Skill Development: Professionals should focus on improving weaker areas to become more valuable team members and leaders.
• Effective Communication: Managing every interaction, whether with clients or colleagues, can create compounding positive effects on one's career.
• Transitioning to Management: New managers must reframe their understanding of success, focusing on team development and strategic alignment with company goals.
• Embrace Lifelong Learning: Continuous learning and adapting to new perspectives can prevent career stagnation and promote growth.

Notable Quotes:

1. "In an age of leverage, judgment is far more valuable than time." - Naval Ravikant
2. "If we only play to our strengths, we might never overcome our weaknesses." - Adam Grant
3. "Every single conversation is an opportunity to leave a positive impression." - Rens Hayes
4. "Success as a manager looks different from success as a doer; it's about developing your team and aligning with strategic objectives." - Rens Hayes
5. "Lifelong learning involves challenging what we believe to be true and thinking differently to solve problems." - Rens Hayes

Resources:

• Naval Ravikant's "The Almanac of Naval Ravikant"
• Adam Grant's "Think Again"

Thank you for joining Rens Hayes on this week’s epis

Thank you so much for listening and thank you for joining the Design Development community. Don't forget to subscribe to hear about the latest episodes dropping every Wednesday. If this episode resonated with you, share it with a friend.

Our goal is to help people in the industry identify opportunities for growth by sharing the journey of top performers. There is no one path. Success isn't a straight line. There is something to learn from everyone's story. Let's go!

Leave your thoughts in the comment and reach out if you want to be valuable guest on the show!
Design Development Podcast!

Follow us on LinkedIn, Instagram & YouTube

Find out more at https://www.hayesoneill.com/podcast

Eric Garrett is the CEO and founder of The Garrett Companies, a multi-faceted holding company focusing on national multifamily development, construction, and asset management. Over the span of a decade, Eric has engineered The Garrett Companies into a $500 million annual revenue business, achieving notable growth with a unique approach in site evaluation and development. Eric's background spans real estate brokerage, banking, and multifamily development, showcasing his vast industry knowledge and entrepreneurial spirit.

In this episode of Design Development, host Rens Hayes interviews Eric Garrett, CEO and founder of The Garrett Companies. The conversation delves deep into the complexities of growing a multifaceted real estate development and construction business that has achieved phenomenal growth since its inception in 2014. Eric shares insights into his unique site evaluation strategies, the importance of operational excellence, and his company's expansion into various sectors including capital fundraising, subcontracting, and restaurants.

Eric Garrett's journey from a career in banking and brokerage to founding a multifamily development empire is explored, highlighting key lessons and strategies. From hiring slow and methodically to leveraging technology and AI for site selection, Eric reveals what makes The Garrett Companies stand out in the competitive real estate market. The conversation also touches upon the importance of company culture, strategic advisory teams, and the relentless pursuit of excellence that has guided their success.

Key Takeaways:

• Eric shares how The Garrett Companies leverage their proprietary site evaluation software, augmented by AI, to identify lucrative development sites swiftly.
• Deep dive into their slow, meticulous hiring process ensuring cultural fit and technical expertise, contributing to high employee retention.
• Insights into maintaining a vibrant company culture through unique team-building activities and a strong pursuit of excellence principle.
• Discussion on strategically expanding into new markets and adding business lines in subcontracting and capital funds to create a self-sustaining development ecosystem.
• Eric’s career trajectory offers valuable lessons on seizing opportunities, understanding every facet of the business, and applying a holistic approach to real estate development.

Thank you so much for listening and thank you for joining the Design Development community. Don't forget to subscribe to hear about the latest episodes dropping every Wednesday. If this episode resonated with you, share it with a friend.

Our goal is to help people in the industry identify opportunities for growth by sharing the journey of top performers. There is no one path. Success isn't a straight line. There is something to learn from everyone's story. Let's go!

Leave your thoughts in the comment and reach out if you want to be valuable guest on the show!
Design Development Podcast!

Follow us on LinkedIn, Instagram & YouTube

Find out more at https://www.hayesoneill.com/podcast