Issue link: https://nebusinessmedia.uberflip.com/i/1358542
Investment into Worcester: I've been active in the Central Massachusetts real estate market for over 30 years which includes the City of Worcester. The area has offered me an opportunity to acquire, develop and expand my real estate holdings instead of Boston (and its suburbs) which is more challenging from a permitting, competition and valuation standpoint. Central Massachusetts has not historically reflected the same appreciation in value as other larger urban markets but has been more of a stable, long-term investment environment. It has also not attracted new investment capital until more recently as more investors have come to appreciate the economic strength and growth opportunities in this area. Assisting During the Pandemic: I have been fortunate and honored to assist the healthcare community and primarily UMass Memorial Healthcare both here in Worcester but also in Southbridge where we provided hotel rooms for front line workers during the surge last April at the Southbridge Hotel & Conference Center. It's been very important to me and my company that we assist in any way we can to mitigate this pandemic and help the community recover physically, mentally and economically. Leadership: I had to develop my leadership characteristics early in my business career as I ran a family real estate business coming out of college and have owned my own companies ever since. I believe you need to lead by example and I'm proud to say that my key management team has been together with me for over 30 years. Resilience: With as long as I've been in the business that has spanned two real estate recessions, you are going to have one or more projects that don't go as originally envisioned. I'm most proud of my ability and focus to see a deal to fruition whether it be challenged by events outside of my control or those brought on by my poor decision making. Community: Bricks and mortar are the tangible fabric of any community. Over my career, I've developed a number of projects in other markets such as Milwaukee, North Conway, New Hampshire, New York City and Boston where the projects have represented an important part of the communities; long-term image, goals and future. I take this responsibility very seriously and respect this role in representing the various constituencies even if I'm not from that community. Worcester Business Journal Hall of Fame Chip Norton, Managing director, Franklin Realty Advisors LLC Business Leader of the Year (Family) David White, Chairman & treasurer, R.H. White Construction Co. Safety: Ensure that your company culture starts with keeping me, my family, our friends, fellow employees, customers and public safe 24/7. People first People always: Our greatest assets are our talented employees. The success of our business is about our people and their families. They are our number one customer. Culture: It starts with you! Culture is based on the values you and your fellow employees share and accept, without thinking about and are passed on from one generation to the next. Preserve your culture by living by your core values and continually setting the example for others to follow and believe in. Know your fellow employees: If you do not know your employees you do not know your Company. Hire Slow: Do not just fill positions and voids in your organization. Be sure they will be a good fit with the values you all share. Understand the complexity / competition between a culture based on family values and organizational performance. It will work. Social well-being: It is not just corporate support to community charities, but also those charities and organizations your employees give their time, talent, and money to. Develop a Company Trust Fund to help support employee initiatives. Training leads to opportunities: Invest in keeping you and your fellow employees ahead of your customers and your competition. Internally develop your future leaders! Training should be one of your largest expenses with the greatest return. Succession and Transition: There is an end to everything for everyone. Insure you have a succession plan for all key positions allowing for a seamless transition with time for mentoring. Do not wait - it is never too soon to start the plan. Set the example. Have Fun! We spend the greatest amount of our active lives working, so have fun doing it. If you love what you do, the fun and prosperity is the reward. The one phrase I continually preach to my children; "Fun can be a lot of work, but work can be a lot of fun!!"