2
BUSINESS NEWS CHILDREN’S MUSEUM OF EAU CLAIRE SHOWCASES INNOVATIVE USE OF CARBON-SMART, MASS TIMBER PRODUCT Commercial timber construction has been raised to new heights with the Children’s Museum of Eau Claire. The primary structural support system for the museum consists of responsibly sourced mass timber, with timber columns, joist trusses, and girder trusses used in place of conventional steel and concrete.
Designed by internationally recognized architecture firm Steinberg Hart, the 24,000 square-foot museum features a loft-like interior space where timber columns act as an armature for hands-on exhibits and interactive technology. Together with KPFF, one of the nation’s leading timber engineering firms, the design team created a stunning carbon-neutral museum that will inspire discovery for kids of all ages.
Interested in learning more
about the projects and ideas driving the AEC industry forward? Learn more with Civil+Structural Engineer Media.
EZEQUIEL TOVAR, from page 1
growth are employees, markets, revenues, etc. What about evolving your brand equity? What about growing your next tier of owners? What about growing your mentorship program? There must be an emphasis on growth because it is the only way for a successful future. Growing with purpose and precision will benefit both the long-term future of your firm and your employees. What employee doesn’t want to be in a company that’s growing? ■ Improving the financial state of the company is a top priority. No matter if you are a principal, project manager, architect, engineer, or receptionist, boosting the performance of your firm will be beneficial in the long run. Why? Because of you! Who will be the future investors of your firm? Investors will most likely be internal leaders who will continue the legacy and vision of the firm. By improving the financial health of your firm, you will be able to get a higher return. Something to note is that just because you make a profit does not mean everything is smooth sailing financially. If cash flow (the blood of your firm) is not in good standing, you will not continue to run your firm as effectively as possible. Also, building a strong balance sheet (the skeleton of your firm) will ensure that the firm stands strong and is able to resist any financial hardship on the horizon. Having a good average collection period, ROE, pre-tax, pre-bonus profit, working capital, revenue factor, and several additional metrics, will make your firm into a financial powerhouse. Making it a priority will require the effort of the whole team because it is in everyone’s best interest. ■ When planning for an internal ownership transition, you have to put in the effort to educate your people. How will your employees know that their firm gives them a good return on their investment? You have to show them by being open with the financials and metrics of your firm. That is why at Zweig Group, we push for firms to practice an open-book management approach. By being transparent, you will be able to sell your people on why your firm is a great investment. Showing them the “why” will help them choose to invest in your firm versus the S&P 500. Cultivating an educational culture around ownership is one of the most important things your can do. There you go! These two seminars provided an important learning experience for me and offered greater insight into the AEC industry, which is especially valuable as I’m still early into my career. These seminars were some of Zweig Group’s last for 2022, but you can see the full learning calendar for 2023 here. Ezequiel Tovar is an analyst within Zweig Group’s ownership transition team . Contact him at etovar@zweiggroup.com.
PO Box 1528 Fayetteville, AR 72702
Chad Clinehens | Publisher cclinehens@zweiggroup.com Sara Parkman | Senior Editor & Designer sparkman@zweiggroup.com Shirley Che | Contributing Editor sche@zweiggroup.com Liisa Andreassen | Correspondent landreassen@zweiggroup.com Tel: 800-466-6275 Fax: 800-842-1560 Email: info@zweiggroup.com Online: zweiggroup.com/blogs/news Twitter: twitter.com/zweigletter Facebook: facebook.com/Zweig- Group-1030428053722402 Published continuously since 1992 by Zweig Group, Fayetteville, Arkansas, USA. ISSN 1068-1310. Issued weekly (48 issues/year). Free electronic subscription at zweiggroup.com © Copyright 2022, Zweig Group. All rights reserved.
M&A NEXT SYMPOSIUM Reserve your seat at the table as Zweig Group’s M&A thought leaders share insights and provide deep learning about current and “next” practices in the world of M&A. This highly interactive event is designed to provide M&A education and practical application through roundtable discussions, thought leadership from expert panelists, and focused networking to connect leaders from across the country. Join us in Savannah, Georgia, April 27-28. Click here to learn more!
© Copyright 2022. Zweig Group. All rights reserved.
THE ZWEIG LETTER DECEMBER 5, 2022, ISSUE 1467
Made with FlippingBook Annual report