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d Riley
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CR: We’ve always had a seller-doer culture – it started with our founder. As we have expanded over time, we’ve added more rainmakers and now have a core group of business de- velopment and marketing staff. Seller-doer is the preferred way, but it’s not enough. In a growth company, your seller- doers are stretched for time, and they typically default to delivering for existing clients rather than getting new ones – which is the client experience we want. We created a busi- ness development group as an underlayment to get further ahead of opportunities than if we relied solely on seller-do- ers. Our business development helps leadership, project managers, and technical staff be better positioned to cap- ture work when it comes along. TZL: Diversifying the portfolio is never a bad thing. What are the most recent steps you’ve taken to broaden your revenue streams? CR: Being headquartered in a state that is the size of a mid- size city, the only way we were able to grow was through diversification. As a result, for a company of our size, we are incredibly diverse in the services we provide and the markets in which we offer them. I believe that will bene- fit Thrasher as we expand throughout the mid-Atlantic re- gion. Some people look at adding new services as a risk, but we see it as a stabilizing effect. To us, it comes back to our mission of improving communities and providing services based on our clients’ needs. Most recently, we’ve taken ser- vices we provide like environmental and highway design, and have stood them up as their own divisions within our business structure. Our primary diversification is now com- ing through expanding our geographic markets. “We have a culture defined by empowering our people, being accountable to one another, and prioritizing relationships – with clients and co-workers. We understand that today’s workforce wants more than a job; they prioritize community involvement and making a difference in the world.” TZL: The list of responsibilities for project managers is seemingly endless. How do you keep your PMs from burning out? And if they crash, how do you get them back out on the road, so to speak? CR: I cannot think of a bigger challenge for a growing com- pany. By definition, a good project manager is someone who delivers. Period. They become the go-to, get-it-done per- son and often don’t know how to say no. We are trying to do a better job of surrounding our project managers with the right support – technical staff, business development support, project accounts, etc. – so they can focus on the things at which they truly excel. It’s easy for good project See CONFERENCE CALL, page 8
business. Prioritizing those is difficult, but we evaluate us- ing two criteria: Does this position improve our client expe- rience and does it help us grow? We assess people in much the same way. “We are turning our attention to growing young talent. We’ve made steps to increase our interaction with colleges and universities, so we can attract their top talent and accelerate their development. Growing people into those roles is the hallmark of what has made us successful.” TZL: While plenty of firms have an ownership transition plan in place, many do not. What’s your advice for firms that have not taken steps to identify and empower the next generation of owners? CR: I think any transition is difficult for firms. In 1983, H. Wood “Woody” Thrasher and his father, Henry A. Thrash- er, formed Thrasher. Since that time, we’ve taken on share- holders, opened offices throughout the region, and most re- cently, Woody accepted the role of secretary of commerce for West Virginia, putting his holdings in a blind trust and naming me as CEO. I don’t think anyone could have imag- ined the company would be where it is today, but there was always an openness to talk about opportunities and how those different scenarios would take shape. My advice is to identify the options that are available to your company and explore them. The worst thing you can do is ignore it. TZL: Monthly happy hours and dog-friendly offices. What do today’s CEOs need to know about today’s workforce? CR: At the end of the day, a consulting business is all about its people. It is leadership’s responsibility to keep those peo- ple engaged and bought in. We have a culture defined by empowering our people, being accountable to one another, and prioritizing relationships – with clients and co-workers. We understand that today’s workforce wants more than a job; they prioritize community involvement and making a difference in the world, which is core to our mission of im- proving the communities where we live and work. People want a place where they are appreciated and empowered. It’s rare that we tell a younger staff member “no.” We give them opportunities to lead projects, dabble in business de- velopment, or explore a specialization in which they have an interest – and we recognize their efforts. Thrasher has al- ways been a place where if you see an opportunity and you want to pursue it, we’ll support you. TZL: Zweig Group research shows there has been a shift in business development strategies. More and more, technical staff, not marketing staff, are responsible for BD. What’s the BD formula in your firm?
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uary 26, 2018, ISSUE 1237
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