Filed under: Dr. Boyce Money
Most people of color know nothing about where any of the stimulus money went. As far as we're concerned, it was allocated by a bunch of politicians who had no interest in stimulating anything in our communities. Well, Craig T. Williams found some of that money and successfully leveraged it into a powerful business. His financial success has given him the freedom to pursue other interests, including writing his first book. It is for his commitment to business success and use of money as a tool for personal liberation that Craig T. Williams is today's Dr. Boyce Watkins Spotlight on AOL Black Voices:
What is your full name and what do you do?
My name is Craig T. Williams. I am an entrepreneur owning and operating two construction companies, Pride Enterprises, Inc. and Fidelis Design and Construction, LLC. I am a partner in the Philippe Chow Restaurants, and I have recently launched a multimedia company called Vintage World.
How did you end up in the field of construction?
I am a second-generation general contractor/construction manager. My father started his business in 1981 and focused his efforts fully in construction by 1987. I joined him in 1989 and helped him build the business in every capacity from field laborer to vice president.
Tell us about your company, what it does and the history of it all?
Pride Enterprises, Inc. (PEI) is a full-service general contractor and construction manager providing construction services primarily in the public sector throughout the Northeast U.S. Our clients include the Department of Defense, the Department of the Interior, the Department of Veterans Affairs, the GSA and almost every other federal agency. Our services include new construction, renovations and additions, infrastructure and design/build projects.
PEI was established as a means for me to make ends meet while I was working for my father's firm. When a niche emerged in the market, PEI was well-positioned to pursue it. After laying the foundation with several projects, PEI became my primary focus. I continued to support my father's business as a consultant until his untimely death in 2001. At that point the greater long-term opportunity was with PEI.
PEI has emerged as one of the leading small business concerns in the Northeast U.S. I was honored as a Small Business Administration's Entrepreneur of the Year in 2005, and I have worked with an Iraq War veteran to establish Fidelis Design and Construction, LLC., to pursue another niche market. This protégé firm has exhibited explosive growth and the long-term potential of our partnership is tremendous.
We noticed that you were able to utilize the stimulus money in a productive way. How did you go about getting access to your capital and making it work for you?
The American Reinvestment and Recovery Act of 2009 has had a great impact on my business. Access to the opportunities created by this policy fall within the normal channels of federal procurement. The key is positioning your business for those opportunities. To clarify, in the construction sector bidding on projects is virtually the only way to garner those opportunities. There is a mandate within the ARRA that prioritizes competition for the projects that it has funded in order to promote the greatest procurement efficiency.
Relative to positioning, the federal marketplace is divided into many initiatives and programs that are designed to address the multitude of government priorities. Understanding this system and aligning your business with the streams of opportunities that it creates is a winning strategy that I have implemented effectively. For example, the federal government has rightly prioritized doing business with veterans. Fidelis Design and Construction, LLC was established to pursue these and other opportunities. In this case, my partner primarily provides access while I primarily provide the capacity to meet the requirements of our clients. It is a winning combination of mutual need and reward.
What is your professional, educational and personal background?
As mentioned previously, I was involved in the growth and development of my father's firm in its critical developmental years. This experience provided a practical application for the business training that I received at Syracuse University's Whitman School of Management where I earned my bachelor's degree. In fact, my father's company was the subject of my final project for the finishing course at the college and was a useful tool as I transitioned from the field to management.
What are the major initiatives and goals for your firm right now?
In this economy stability is the top priority. We are fortunate to be well-situated in what is currently the strongest sector of the construction industry. We have been able to retain our talent and are enjoying growth while many firms are challenged to adjust to current conditions. Maintaining steady and conservative course is our focus. Making choices that allow us to retain the relationships that we have is the key to navigating these challenging economic times.
What advice do you have for those who would like to pursue a similar career path as yourself?
The greatest asset that I have acquired in my career is experience. I'd like to think that I was brought up in the business the right way. Having worked as a laborer and superintendent gave me a perspective on the practical aspects of my industry that my education may have allowed me to sidestep. It not only gave me the basic knowledge of the business, it afforded me the respect of my colleagues. When you're the son of the owner this is more important than you might think. This principal is the cornerstone of every success that I have enjoyed in business.
As I was elevated within the company and ultimately embarked on my own, it was always an asset to have participated at every level of the business. This would include relationships with stakeholders and clients that I have maintained through every iteration of the business. Preparedness is the most important element in planning for success. Do your homework. Work in the industry to develop the knowledge, skills, and relationships. Partner with an established business to gain strength and position. Although I have enjoyed unique opportunities, I believe these are principals that work universally.
Is there anything else you would like to share with our AOL Black Voices audience?
I have been very fortunate to have great role models that paved the way for the success that I have enjoyed. There have been many heroes, both people that I know and ones that I've read or heard about, that inspired me to succeed. For more than twenty years I have had a passion for telling stories. As my life has unfolded my personal experiences have influenced my creative impulses which have led me to embrace the challenge of unearthing forgotten heroes and presenting their inspiring stories to the world.
I have always been a big fan of classic heroic tales like King Arthur, Robin Hood and The Lord of the Rings. Although I have a deep love for these stories, over time it became increasingly apparent that none of these stories featured heroes that look like me. Role models have made a big difference in my life. My newest venture, Vintage World, is a multimedia company with the mission to tell classically heroic stories that feature a diverse cast of heroes.
The first offering is The Olympian: An American Triumph, www.theolympian.net. This book, which also represents my debut as an author, tells the story of Dr. John Baxter Taylor, Jr., the first African-American Olympic gold medal winner. The novel chronicles Taylor's journey from his humble beginnings as a standout student-athlete in Philadelphia's public schools to Olympic glory in the 1908 Games in London. I'm very excited about the prospects of this venture and this being the first of several projects in production.
Dr. Boyce Watkins is the founder of the Your Black World Coalition and the author of the bookBlack American Money To have Dr. Boyce commentary delivered to your email, please click here. To suggest a subject for a Dr. Boyce Watkins Spotlight, please click here. To follow Dr. Boyce on Facebook, please click here.