Mike Kaeding is a residential real estate developer and the CEO of Norhart– a company focused on building exceptional apartments that create a better way for people to live. In Episode 156 of the Management Blueprint podcast, Kaeding and host, Steve Preda, discuss ways to attract amazing talent, the exciting future of smart homes, and how your company can put a dent in the universe.
Norhart CEO Mike Kaeding was tired of the inefficiencies and high costs in the construction industry, so he decided to do something about it. In this podcast episode, Kaeding shares his journey of becoming the CEO of Norhart and how he grew the business by questioning the status quo and building a team of the best people. His insights and strategies are valuable for anyone looking to grow their business and make a positive impact in the world.
Kaeding believes that the core fundamental blueprint for growing any business is to hire the best people, build a strong culture, and give them the capability to solve all the problems the industry faces. But how do you attract the best people? Norhart offers competitive salaries, a great culture, and even has 15 recruiters on staff to find the best talent. They also have a rigorous hiring process that includes multiple interviews and assessments to ensure that they are bringing on the right people.Mike also shared his insights on being a multiplier leader, understanding each employee's innate genius, and matching them to a role that allows them to flourish. Click To Tweet
Transparency is also crucial for building a great culture, and Kaeding emphasizes the importance of being honest about mediocrity rather than pretending to be good. Norhart spends a lot of time defining their purpose, mission, values, strategies, goals, beliefs, and habits, and they share their engagement survey results openly with the whole team. They also have regular town hall meetings where employees can ask questions and provide feedback.
Norhart’s mission is to drive down the cost of housing, and they’re doing so by producing 60,000 units per year and using smart home technology to remove friction points for their tenants. They also have an investment platform that allows everyday investors to invest in real estate and earn a higher rate of return. This not only benefits the investors but also helps Norhart to fund their growth and continue to make a positive impact in the industry.Norhart's mission to drive down the cost of housing is truly inspiring. By producing 60,000 units per year and using smart home technology, they're making a meaningful impact on people's lives. Click To Tweet
Kaeding’s approach to leadership involves being a multiplier leader who inspires his team to give more than 100% and matching each employee’s innate genius to a role that allows them to flourish. He also believes in leading by example and being transparent about his own mistakes and failures. This creates a culture of continuous improvement and learning, where everyone is encouraged to take risks and innovate.
If you want to learn more about Norhart and Mike Kaeding’s journey, check out their website or connect with Kaeding on LinkedIn. Let’s all strive to hire the best people, build strong cultures, and make a positive impact in the world. By following Kaeding’s blueprint for success, we can create businesses that not only generate profits but also make a difference in the lives of our employees, customers, and communities.
Links and Resources
Steve and Greg Cleary’s Book: Pinnacle: Five Principles that Take Your Business to the Top of the Mountain
Work with Steve – Stevepreda.com
Becoming a Unicorn Podcast