220 Mike Kaeding - How to Keep the Talent Density High

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Mike Kaeding, the CEO of Norhart, a pioneering $200M construction company, has a deeply personal and driven path in real estate. His journey began in the heart of a family business founded by his parents. Life took an unexpected turn when his father passed away shortly after he joined. Suddenly, he found himself at the helm, not by choice but by necessity, with the immense responsibility of leading a business in an industry he was still learning about.

Today, Norhart has grown from 80 to over 1,000 units, creating $230M in assets. This growth is a testament to his dedication to change, efficiency, and sustainability in construction. He is not just constructing buildings; he is constructing a better future, addressing the US housing affordability crisis with innovation and determination.

In this episode Jason and Mike discuss:

• The vision and strategies of Norhart in addressing the US real estate affordability crisis through innovation
• The impact of Mike's childhood and family values on his work ethic and leadership in real estate
• The transformative role of hiring top talent with a focus on skills, cultural fit, and organizational values alignment
• The significance of creating a supportive company culture, offering top-market benefits, and the power of vulnerability in team dynamics
• Approaches for overcoming business challenges, including the application of lean manufacturing principles and embracing stress and failures as growth opportunities

Key Takeaways:

• Norhart's commitment to solving the affordability crisis is rooted in innovation and learning from manufacturing giants like Toyota.
• Cultivating gratitude and familial influence is integral to Mike's business approach. These values also play a crucial role in his personal growth.
• Embracing past reluctance and personal challenges has been crucial for Mike in his journey to impactful leadership.
• Hiring strategies at Norhart focus on trial periods, peer evaluations, and clear KPIs to ensure talent density and value alignment.
• Personal and professional growth is nurtured through embracing vulnerability, continuous feedback, and maintaining supportive relationships.

“You're not going to have the fortitude to get through it unless what you're doing is something you truly love and truly believe in. You need that inner energy to make it through. If you're just doing your job to make a bunch of money, when things get tough, it will be too easy to quit. ”

- Mike Kaeding

Connect with Mike Kaeding:

Website: https://www.norhart.com/

LinkedIn: https://www.linkedin.com/in/mikekaeding/

Mike’s Podcast: https://podcasts.apple.com/us/podcast/zero-to-unicorn/id1685311966

Connect with Steve and Jason:

LinkedIn: Jason or Steve

Website: Rewire, Inc.: Transformed Thinking

Email: [e-mail]

Show notes by: Angelo Paul Tagama

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.