TZL 1308

economic slowdown in the future? CF: Economic cycles are not potential; they are real. There will be an economic downturn sometime in the future. We never get ourselves too close to the edge financially, and we exercise fiscal responsibility when making spending decisions. We hire wisely and when we need to fill positions. We monitor the external economic conditions, especially the leading indicators of a downturn. We lived through the last economic downturn by tightening our belts. We kept all of our staff who understood that we all needed to make some sacrifices to ride out the storm. The most important part of being ready for an economic downturn is to be prepared for that eventuality. TZL: Are you using the R&D tax credit? If so, how is it working for your firm? If not, why not? CF: We were not using it as we were unaware that it applied to us until we changed CPA firms and discovered a whole new world. The moral of that story is that there is a limit to loyalty, as we used our last firm for 19 years. We are using a new firm now and are exploring our options under that scenario. TZL: It is often said that people leave managers, not companies. What are you doing to ensure that your line leadership are great people managers? CF: I’ve heard that said, but I think people leave both managers and companies. A great manager in a toxic culture will not motivate a great employee to stay. Managers should always take good care of the people who work for them, helping them develop both professionally and personally. It’s really important to have an honest and authentic relationship with the people who report to you, and, if you do, you will not be blindsided by a resignation. TZL: What novel approaches are you bringing to recruitment, and how are your brand and differentiators performing in the talent wars? CF: Our most successful hires are those who have been referred to the company by current employees, so we have a very robust referral program called “RAP” or Refer Awesome People. Another approach is our “pull” approach of working toward becoming the Best Firm To Work For with a welcoming culture and core values See CRYSTALLIZE THE VISION, page 8

the client, the invoice approval process, timing of releases, and a myriad other factors. We try to predict cash flow as accurately as possible a year or so into the future, but must sometimes depend on our credit line for short-term financing of operations to account for these factors. “Failure is the greatest teacher. Failure is also a tremendous opportunity disguised as a great loss. There are few instances when I thought I had failed at something and then looked back, and did not realize that it was a stepping stone to a greater success.” TZL: How much time do you spend working “in the business” rather than “on the business?” CF: It’s extremely easy to get caught up in the whirlwind of day-to-day activities. It takes discipline to work on the “important” as well as the “urgent.” My philosophy is that we need to hire competent people and train them to work “in the business” so that the executive team can focus “on the business” in areas of strategy and vision. Of course, there are situations that arise daily that need your guidance, input, experience, and even your hands-on involvement, but once the “crisis” is averted or the situation is less critical, I return to my focus on the business. Right now we are working on some high-profile projects and our staff is growing so it’s 50/50, but I’d like it to be more 30/70 at this level. TZL: What role does your family play in your career? Are work and family separate, or is their overlap? CF: My immediate family, who live in the same house, consists of my husband and my dog. My husband is my biggest fan and my dog thinks I’m the cat’s pajamas. They make it so much easier for me to be successful. I try to make it home in time for dinner with them every night, to the extent possible, which forces me to end my day at a certain time. Having them in my life has provided the platform to focus on my career, knowing that they will always be there rooting for me. TZL: What, if anything, are you doing to protect your firm from a potential

YEAR FOUNDED: 1999 HEADQUARTERS: Miami Lakes, FL NUMBER OF EMPLOYEES: 92 NUMBER OF OFFICE LOCATIONS: 4 SERVICES:

❚ ❚ Aviation fueling ❚ ❚ Vehicular fueling

❚ ❚ Environmental remediation ❚ ❚ Engineering and sciences ❚ ❚ Civil/heavy construction

CORE VALUES: ❚ ❚ Community ❚ ❚ Excellence ❚ ❚ Integrity

WHAT MAKES CEI UNIQUE: They do their own construction with their own people, equipment, and project managers. CEI doesn’t subcontract its core services; its record of past performance has led to a high bonding capacity unusual for a small business; the firm highly values quality and safety. All of CEI’s employees receive between 24 to 40 hours of annual training in various areas of technical subjects; such as: ❚ ❚ Health and safety

❚ ❚ OSHA HAZWOPER ❚ ❚ Project management ❚ ❚ Self-improvement

gust 12, 2019, ISSUE 1308

Made with FlippingBook Annual report