By: Brian Sullivan 2021 construction industry
January 31st, 2022
The Construction Industry
2021 was a rollercoaster in the Construction industry for sure, as clearly described by Dodge Data and Analytics. The report that commercial and multi-family construction starts were up in 2021 was a confirmation of what we have seen in our BD efforts and results and what our industry friends have confirmed as well. Furthermore that NYC, Dallas, and Miami topped the list of metro markets with significant growth is no surprise. Miami’s growth has been the buzz of the construction industry for the past few years, but to see that they had 65% growth year over year is astonishing. Keep an eye out for a Sullivan Engineering office in the Miami area soon.
In addition to the supply chain issues that we’ve discussed previously, labor shortages created challenges throughout the construction and AEC industries. The labor challenge requires AEC leaders to establish detailed strategies to solve this issue for their team as it is not an issue that will likely be resolved holistically anytime soon.
Building Envelope Restoration
The building envelope restoration industry throughout the country as well as in the New York and Boston markets continued to be very active, resilient, and in many cases adapted to changing landscape very quickly. I’m in awe of some of the leaders in the construction industry that changed their target market, service offerings, etc to survive and resulted in accomplishing tremendous results.
Sullivan Engineering, A Rimkus Company
It’s still so surreal to me that we had our second consecutive virtual annual planning retreat. As I prepared for that retreat and looked back over the year I was reminded of the concept of The Gap and the Gain by Dan Sullivan (no relation) which is now a phenomenal book. Dan reminds us that if we don’t take time to look back at our accomplishments we can end up continuously disappointed as our ideal future is often a moving and growing target. During these unusual and difficult times, this concept is even more important to help us avoid being too focused on the present and short-term issues
In 2021 we grew revenue by 37% which is a direct indicator of the great service that our team continues to provide to our clients and the industry overall. What really stood out to me in reviewing our metrics is that we grew revenue by 66% since the start of the Covid pandemic. While, yes we are fortunate to be in an industry that stayed relatively busy during most of the pandemic, this growth is a direct reflection of the clear plan that we established early on and moreover our team’s ability and passion to execute that plan. I am incredibly grateful to all on our team that remained focused on executing the plan driven by our Purpose: To empower others to improve their quality of life
Over the past year, we were very fortunate to add some great new team members to our growing family, including Rich Der Aris, Jeanine Smith, Antonio Magliaro, David Hong, Marcia Carbery, Robert Sullivan, Dan Jaramillo, Brielle Ehmsen, Anton Mazyrko, Kevin Budd, Mary Van Pelt, Paola Rojas, Charlotte Oestrich and Peter Barber. Each of these team members has immediately had an impact and brings their own unique strengths and passions. I’m so fortunate to get a chance to work with and get to know each of them.
As some of you know we operate based utilizing the Entrepreneurial Operating System, as we reviewed our V/TO and analyzed the annual goals that we established at the start of the year; we went 6 for 6 accomplishing these goals. To be fair the most ambitious goal was not 100% complete by 12/31; however, it is complete now. Furthermore, 12 of the 14 goals that we identified in our 3-year plan at the end of 2018 have been accomplished. The clarity and focus that come from EOS ensure that the entire team knows what we specifically want to accomplish and how they can assist.
Rimkus Consulting Group
The fact that the team accomplished as much as they did in a year where we were acquired is a testament to their focus and dedication as well as the great leadership and synergies with the leadership at Rimkus Consulting Group. From what I’ve heard, acquisitions can often be very disruptive to the culture and operations of a team. To date that has not been our reality, thanks to the synergy in core values between both teams as well as the very deliberate and thoughtful integration plan spearheaded by Kevin Whiting and actively supported by Rimkus leadership including Chairman Curtis Brown, CEO Bob Kocher, COO Jon Higgins and President of AEC Services Jack Dolan. It always impresses me how much focus and concern the entire c-suite and other leaders have in ensuring that the integration is going well for all involved. For me personally, the education that I’ve received in the past 6 months has been tremendous and continues to encourage me for all that lies ahead.
We thank all of our loyal family, friends, and clients for your continued support throughout 2021 and look forward to another great year ahead…