I have not done this for a while so this week I thought I would reinvoke the ‘business leader interview’ this time with Heath Cohen, CEO of CoConstruct based in Upper Beaconsfield. Heath has been managing a successful construction company since 2010 and has established a high reputation for the quality of his builds. He has been kind enough to share some of his perspectives on business success.
Q. Why was the business started in the first place?
A. It was a natural progression from initially being a carpenter. I always wanted to be a builder since I was young when I helped out my uncle who was a successful builder during the 1990s.
Q. What does the business specialise in?
A. Commercial buildings related to specialist disability accommodation and allied health, custom homes and the bespoke equine market.
Q. What are you most proud of?
A. Our ability to develop ongoing relationships that have enabled repeat work and facilitate quality referrals. We have constructed a wide range of properties that demonstrate our attention to detail in every aspect of the build.
Q. What is your secret for success?
A. Loyalty to our clients and the trades that we employ.
Q. What has been your greatest challenge in the business?
A. Covid-19 and its aftermath. This had a dramatic impact on the industry in terms of material scarcities, lead time blowouts, trade shortages and significant cost increases. This increased our own costs and timeframes which necessarily had a severe impact on our cash position.
Q. How did you overcome this?
A. Constant communication right across the whole supply chain including our customers. We also put a significant focus on the company’s financials especially cash-flow and our sales forecast.
Q. What advice would you give to a new business owner just starting out?
A. Know your numbers – understand cash-flow, forecasting, pricing and margins. Focus on customer interactions and ultimately satisfaction.
Q. Who inspires you and why?
A. My partner Deb. Her ability to focus and give me sound reality checks as well as enabling me to put work behind me at the end of the day.
Q. How do you see business changing over the coming years?
A. In construction, the quality operators will prevail and come through even in difficult times. The differences between good and poor business operators will become more obvious by the quality of their work.
Q. Interests and hobbies?
A. Caravaning, camping, fishing, bike-riding and taking any opportunity to get away with my family whenever I can.
My thanks to Heath for sharing his knowledge and perspectives, hope that you found these useful.
Ian Ash ACC, AIECL, AInstIB
Managing director OrgMent Business Solutions – www.ombs.com.au
