A New Wave Podcast

Geoff Smith: Driving Innovation in Traditional Industries

portrait of Geoff Smith
Geoff Smith Meet Geoff Smith, the Chair of EllisDon, a major player in Canada's construction industry with an impressive $5 billion in annual revenue and 4,000 employees. Geoff, who previously served as CEO for nearly 25 years, shares his experience in evolving EllisDon from a conventional general contracting firm to a diversified leader in construction. He discusses the challenges and strategies involved in this transformation, highlighting the importance of adopting innovative approaches, fostering a culture of trust, and integrating digital solutions. This episode provides valuable insights into driving change in a traditional industry, making it essential listening for leaders, entrepreneurs, and anyone interested in the dynamics of business adaptation and industry leadership.

Season 9 — January 10, 2024

5 Key Takeaways

  1. Restoring Trust: Geoff Smith’s focus on rebuilding client trust was pivotal in EllisDon’s turnaround, highlighting the value of transparency in business recovery.
  2. Leadership Evolution: Smith’s transition from traditional to innovative leadership styles transformed EllisDon, showcasing adaptability as a key driver of industry change.
  3. Culture of Empowerment: By fostering a trusting and autonomous work environment, Smith enabled a culture where employees could thrive and innovate.
  4. Digital Advancement: Embracing digital integration proved crucial for EllisDon, with Smith highlighting its role in modernizing operations and staying competitive.
  5. Navigating Challenges: Smith’s strategic approach to financial and internal challenges offers insights into effective crisis management and problem-solving in complex scenarios.

Show Notes

[00:00:00] Introduction: Geoff Smith and EllisDon’s transformation.

[00:01:00] Early days at EllisDon and the financial struggles.

[00:03:00] Rebuilding client trust and internal morale.

[00:04:00] Navigating family dynamics in business.

[00:06:00] Innovating in a traditional industry.

[00:08:00] Shifting to a service-oriented approach.

[00:10:00] Pioneering responsibility in construction.

[00:12:00] The journey towards digital integration.

[00:14:00] Building a culture of trust and autonomy.

[00:16:00] Strategies for overcoming challenges in leadership.

Resources & Further Reading
EllisDon Learn more information about EllisDon projects and innovations.
Highlights
"So we went from a model of just being a builder... To being a builder who could provide the financing who could provide the design who could provide the operations of the building." [00:10:00]
"It's all about a service industry. It's all about making your clients happy as opposed to just giving them the low price." [00:08:00]
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