In this episode, I talk with Peter C. Atherton, P.E. who is the author of “Reversing Burnout: How to Immediately Engage Top Talent and Grow! A Blueprint for Professionals and Business Owners”, and the creator of the I.M.P.A.C.T. process. We talk about the truth behind engineering partnership or ownership: the good, the bad, and the potentially ugly.
- Most engineers would like to become managers, partners or owners at a firm and tend to think about all of the good things that go along with that, but they don’t always think about the bad, or potentially ugly things.
- Being in a leadership position allows you to be innovative and to make a bigger impact on projects, employees and communities. It also provides financial rewards and can help you to move industries forward.
- Sometimes we really don’t understand what it takes to be successful in business.
- When given the opportunity to buy into a firm, the risk associated with it is that you are truly buying in and putting your own money on the line. This could require you to take out a loan which is a huge financial risk you will have to take.
- Being the owner of a company puts you at risk when there is a claim/lawsuit against the company. If you have to recapitalize a company for any reason, the partners in the firm would have to pay for it. These are things you have to think about and plan for ahead of time.
- There is also a risk of losing value when you buy into a company due to factors influencing the growth and value of a company over the next upcoming years.
- What makes us successful as engineers is not solely what’s going to bring us success as leaders or as partners. We need to be really tuned in with who we are, and grow daily in our profession.
- Leadership is no longer just about business strategy and execution. It’s about building a culture and having innovation, diversity and sustainability in the organization.
- The beauty in the engineering industry is in the details and getting things done right.
More in This Episode…
In the Take Action Today segment of the show, we will leave you with some final actionable thoughts about engineering partnerships.
About Peter C. Atherton, P.E.
Pete is an AEC industry insider that has spent more than 24 years as a successful professional civil engineer, principal, major owner, and member of the board of directors for a high-achieving firm. Pete is now the President and Founder of ActionsProve, LLC. He works with AEC firms and leaders to grow and advance their success through strategic planning implementation, executive coaching, performance-based employee engagement, and corporate impact design. Connect with him on LinkedIn or through his website www.ActionsProve.com
“Treat employees like partners, and they act like partners.” – Fred Allen
Resources and Links Mentioned in This Session Include:
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What is an engineering partnership all about?
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To your success,
Anthony Fasano, PE, LEED AP
Engineering Management Institute
Author of Engineer Your Own Success