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Conference call: Wilbur Milhouse III President and CEO of Milhouse Engineering & Construction (Hot Firm #50 for 2017), a 180-person firm based in Chicago.
By LIISA ANDREASSEN Correspondent “E ngineers aren’t usually braggadocios,” Mil- house says. “We’re just not good at it. We tend to play down our victories, successes, and ac- complishments.” “It’s very important to really understand the nuts and bolts of the project so we know whether or not we have the right skill set to handle it.” A CONVERSATION WITH WILBUR MILHOUSE III. The Zweig Letter: What’s your philosophy on fee/ billing and accounts receivable? How do you col- lect fees from a difficult client?
Wilbur Milhouse: Collection problems and busi- ness seem to go hand in hand, I guess. We invoice every month unless the client prefers another sys- tem. The key is really consistency. If we run into problems, we call first. We follow-up after 30, 60, and 90 days. The resolution depends on the client. TZL: What’s the recipe for creating an effective board? WM: We have two types of boards. One is strictly internal. These people fulfill license requirements and focus on business lines. The other is an adviso- ry board. We solicit people from other entities such as financial, legal, marketing, and business devel- opment. We also seek people from emerging mar- kets such as gas and power. TZL: Is there a secret to effective ownership transition?
Wilbur Milhouse III, President and CEO, Milhouse Engineering & Construction
THE ZWEIG LETTER Ju
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