The Barnhart Inc. that Eric Stenman now leads is far different from the construction company that Douglas Barnhart started more than a quarter-century ago.
Stenman wouldn’t — and couldn’t — have it any other way.
Change and adaptability have become two necessary ingredients for success in just about every business. Change is inherent to the construction business, which can be cyclical by nature. But the economic downturn of the past couple of years has compounded problems and increased the need for adaptability.
Stenman’s solution is to keep all potential avenues for growth open and connected.
“Let’s go back a couple of years,” he says. “The education market was strong, and the temptation is great to put all your eggs into that basket. We became the sixth-largest education builder in the nation, just by building schools in California. Now, as part of Heery, we’re the fourth-largest school builder.”
Barnhart was acquired by Atlanta-based construction giant Heery International Inc. in 2008. Stenman operates Barnhart as its president.
“But you still have to avoid putting all your eggs in that one basket,” he says. “So we kept our presence in the federal market with military. We kept a foothold in municipal work with cities. That way, when the cycles turn, you’re not caught in a place where you have no work, where you can’t build a platform. You always have to remain cognizant of those other opportunities.”
Communication is a major part of keeping Barnhart — which generated $450 million in 2008 revenue — adaptable to both cyclical and economic downturns. In order to stay ready, Stenman has to both inform and stay informed by establishing and continually feeding channels of communication with both employees and clients.
It’s the people at the ground level who are going to notice market trends first and will be able to keep you and your leadership team in the know. But you have to establish and maintain those connections during stable times in order to reap the potential benefits during challenging times.
“There is no secret formula,” Stenman says. “It’s hard work on top of more hard work and delivering on what you say you’re going to deliver.”
