Today we’d like to introduce you to Adam Garcia.
Adam, let’s start with your story. We’d love to hear how you got started and how the journey has been so far.
I graduated with honors from DePaul University’s College of Commerce in June of 2011 with a degree in management (concentration in entrepreneurship). I was lucky enough to be recruited into Bank of America’s analyst program where I focused on healthcare originally and moved into the middle market Mergers and Acquisitions platform (Middle Market Leveraged Finance). I spent nearly 4 years at the bank learning how to properly analyze business trends and build sustainable turnaround strategies.
I became exceedingly passionate about the individual businesses and wanted to spend more time on general corporate strategy (instead of bouncing from one deal to the next). As such, I left the bank to pursue roles in internal M&A groups for both public and private companies. In these realms, I was lucky enough to have fantastic leadership engagement on a regular basis which allowed me to hone my communication skills and general business acumen.
New Path’s story begins with my wife (Alexa) losing her job after our daughter was born. She was very upset as she had serious passion for the business and her clients. The business was a commercial general contractor and was going through a restructuring period. After working on countless deals and corporate strategy initiatives, I offered to “Start” a business for her. We spent time researching the industry, conducting informational interviews and speaking with prospective clients to understand how they viewed general contractors.
My basic thought was that the folks in this industry are putting greed before their clients and employees – by changing that, I can offer a breath of fresh air to the folks that have been wronged by typical commercial general contractors. She knew how to manage sales, I knew how to run a business. Together, we launched New Path Construction and Consulting in May of 2016. I went on to hire construction professionals to build out our operations team.
Our primary differentiator is that we understand the business implications of a construction project. We are frequently helping our clients through their business planning to develop sustainable execution plans (both in their construction process and business plans). With our client-centric focus, we have closed over $20m in annual contract revenue in 2017. Our team has been crucial to our success and we are lucky to have such loyal partners.
We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you? Not at all! We have had countless struggles as we have grown, and expect more in the future! Someone once told me that smooth seas don’t make good sailors…
We have been targeted by our competition (which makes sense since we are scooping up market share). We have remained true to our strategy of being an honest business with a client-centric focus, despite the various attempts to de-rail our plan of attack. Additionally, we had to develop a completely organic marketing strategy to develop brand awareness.
From a headcount perspective, our strategy has been to recruit folks from competitive businesses. We have focused on talent retention and have had ZERO resignations since inception. As you can imagine, it has been difficult to create a comp/benefit/experience program that employees cherish. We are consistently asking for feedback on how we can be a better company for our employees. Recruiting is always a challenge so we encourage folks looking for a career enhancement to reach out via our website!
We’d love to hear more about your business. New Path Construction and Consulting is a commercial general contractor. We offer design-build, construction management, general contracting and value-engineering for projects ranging from $100k – $25M in total value. We have very creative contract types to provide absolute comfort to our clients. Additionally, we spend time understanding the business need for the project before opening the drawings. This approach brings us very close to our clients and lets us properly carry out their vision.
Every member of our construction management team is required to sit through monthly “finance” meetings geared towards understanding the financial framework of construction projects from a business perspective (Construction to term loan conversions, working capital, bridge financing, runway funding, etc). The purpose here is to make sure our team is in tune with the business need to get a project completed on time and on budget.
In addition to construction, we have launched a maintenance division which serves clients throughout the country. The purpose of this operation is to give facility managers and business owners the ability to receive affordable work (paint, light carpentry, clean-up services, etc) with the professionalism of a large construction company.
Our network of internal and external specialists provide us with top-notch pricing given our ability to offer them larger construction projects. Our clients have comfort knowing that a Commercial General Contractor is watching over the maintenance work, but aren’t paying a premium as compared to the existing facility maintenance companies.
What were you like growing up? Growing up I was into sports and hanging out with friends (typical of any teenager I think). My high school days were spent on the wrestling mats and the nights were usually spent causing trouble with my friends. I didn’t get into the academic part of the business until after graduating high school. That said, I was always trying to make a dollar by selling something (lemonade, painting services, snow removal, etc). My family went through difficult times back when I was in high school which completely changed my perspective on business, money, etc. I was confused. Why are some people so successful while others can’t seem to catch a break? My parents are some of the hardest working people I know. My dad has always been a serial entrepreneur and my mom made her way through the ranks of some larger corporations. They always discussed the complexities associated with running a business which is what made me want to enlighten myself.
I was about to be a first-generation college student. My dad was born in Colombia and went right to the military, and my mom started working right out of high-school. I had an opportunity to wrestle in college but decided to focus ALL of my attention on business. I studied hard and worked to help put myself through school. I became addicted to business (reading, attending seminars, meeting with teachers after class, starting small businesses, etc). I would listen to podcasts while I was working out to make sure I didn’t miss a beat.
Address: 161 W. Irving Park Road Roselle, IL 60172