Building Scale

We interview successful Architecture, Engineering, and Construction (AEC) business leaders to learn how they use people, processes, and technology to scale their businesses.

Hiring strategies, dealing with failure, and lessons from Toyota with Mike Kaeding - Norhart

E82 • Mar 5, 2024 • 62 mins

In this episode, Mike Kaeding, CEO of Norhart, shares his experiences of growing his company, emphasizing the importance of hiring the right people and adjusting roles to employees' strengths. He discusses the implementation of standard operating procedures, strategies for reducing construction costs, and handling scaling production challenges. Additionally, he shares insights on raising capital, managing multiple businesses, and the crucial role of mindset in achieving success.

Key Points

Mike Kaeding, CEO of Norhart, aims to cut construction costs by 50% and improve housing affordability through technology and process innovations modeled after manufacturing efficiencies.
Norhart's strategy includes hiring top talent, even internationally, to foster a culture of learning, improvement, and problem-solving, which has significantly contributed to their growth and success.
They have developed their own internal systems for utilities and services, such as an ISP and sub-metering for gas and water, to enhance the resident experience and reduce costs.

Connect with Mike Kaeding - Mike's LinkedIn: https://www.linkedin.com/in/mikekaeding/ Website: https://www.norhart.com/ Instagram: https://www.instagram.com/norhartinc/ Connect with Justin & Will - Will's LinkedIn: https://www.linkedin.com/in/willforet/ Justin's LinkedIn: https://www.linkedin.com/in/justneagle/ Learn More & Connect With Spot Migration - Website: https://www.spotmigration.com LinkedIn: https://www.linkedin.com/company/spot-migration Facebook: https://www.facebook.com/spotmigration Youtube: https://www.youtube.com/c/Spotmigration Do you want to be a guest on the show? Go to https://buildingscale.net/guests Need to discuss your IT and Cybersecurity Strategy? Go to https://buildingscale.net/help

Speakers

Will Foret

Host • 2%

Justin Neagle

Host • 11%

Will Foret

Host • 8%

Mike Kaeding

Guest • 79%

Chapters

0:00	Introduction to the Building Scale Podcast and guest Mike Kaeding, CEO of Norhart
0:52	Sponsor: Building Scale website
5:24	Challenges and breakthroughs in the early stages of running Norhart
10:55	Company growth and importance of hiring the right people
17:45	Dealing with failure and adjusting roles to fit employees' strengths
24:04	The "Keeper Test" and the importance of feedback in human resource management
28:08	Implementation of standard operating procedures and lessons from Toyota
31:48	Vision and strategies for reducing construction costs
40:30	Dealing with utility companies and scaling production challenges
47:09	Raising capital and managing multiple businesses
56:42	The role of mindset in success and advice to younger self
1:00:07	Persistence and success story of Michael Oseland

Transcript

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