Holistic approach has helped company thrive for 25 years
As a philosophy major at Cardinal Glennon College, a seminary in St. Louis, Bo Steed learned about the holistic approach.
Embracing those lessons, Steed has developed a similar approach in his own business, Steed Remodeling.
Now celebrating 25 years in business, Steed Remodeling focuses on home remodeling and reconstruction.
"I want to emphasize the whole, not just the product -- everything connected with it -- the design and the process from the first telephone call to completing the job. If I can give them a good experience overall, they'll be happier with the remodeling job."
Steed said much of his business is in older homes, remodeling bathrooms and kitchens and doing room additions. Steed likes to initiate a design for a client but he is willing to work with other designers, decorators and architects. From the design stage, Steed creates a job package detailing all aspects of the job, which helps clients know what to expect.
"We really want to be closely involved with everything that goes into the job," Steed said. "It's easier if it's all on paper."
Steed has 10 employees, five of whom are carpenters. Generally, the company runs four to five crews at a time.
"We run our job with one lead carpenter, and he'll call the office to send out one or more from our staff. Then we use a subcontractor for a few days. That way, we've got the least amount of man hours involved (but) our lead carpenter is there almost all the time."
Mary Etta O'Neill has had the company redo several bathrooms in her home, as well as a room in the basement and a patio.
"One of the things we liked is they're very professional on each job," O'Neill said. "The way they oversee each job is excellent, and they stay on time. And they're very good if something goes wrong -- they come back and fix it."
"I try to provide memorable service," Steed said. "When we leave a job, we have a maid service come in and clean it. Everything is spic and span. The more comfortable I can make it for my clients, the more likely they are to call me back the next time," he said.
After college and serving in the Army, Steed found it difficult to get a job and decided to try his hand at building houses. He started out working for a company in St. Louis as an assistant to a superintendent managing a subdivision construction project. Steed spent the next three years learning all he could about home construction before striking out on his own. When he moved to Kansas City with his wife, Steed decided to continue with his own business.
"I thought to myself at the time, `What am I doing?' But it worked out fine," Steed said.
Steed started off small, just himself and one other person. Steed expanded into the painting business but "I wasn't ready to run two companies, so I scaled back to just remodeling," he said. By 1988, Steed brought in another employee to serve as a production manager while he continued in the sales and design areas.
Since the beginning, Steed has relied on referral and repeat business for his customer base.
"People use us, find we're a good value and come back to us," he said.
Steed Remodeling has experienced an average of 15 percent annual growth in last three years. Projected revenues for 2003 are $1.8 million. The company has received more than 20 awards from the National Association of Remodeling Industry. The company was also recognized in Remodeling Magazine's "Big 50," a list of remodeling contractors across the country selected on excellence in design and construction.
Now one of Steed's nine children, Mike, has joined him as a partner in the business, and owns 10 percent of the company.
"I was a little reluctant to work for him at first," Mike Steed said. "We get along great as family, but this was different. The last two years have been excellent. We work together well as partners, and it is a very professional relationship. At home, we try to avoid talking about work so it doesn't spoil the relationship we have as family."
In the 25 years since he went into the remodeling business, Bo Steed has seen a few changes.
"My own evolution has followed like the industry. I started out of my pickup truck, then in an office in my home and then an office outside," he said. "What I see happening with a lot of little companies is coming together with other small companies and doing business building economies of scale."
While his company is doing well, Steed misses what got him into the business in the first place.
"I would like to be out working on the job," Steed said. "Working with your hands is so rewarding."
