Episode 185 - Modernizing Family Businesses with BigRentz CEO Scott Cannon

Disruptive Successor Podcast

ABOUT THE GUEST

Scott Canon CEO of BigRentz, a leading procurement software company that connects over 6,000 rental companies and 14,000 rental yards across the U.S. With their extensive network, BigRentz can deliver equipment and services to 90% of job sites within 30 minutes, cutting down on transportation costs, which make up 40% of rental expenses.

Under their leadership, BigRentz has evolved from a start-up into a powerful platform that helps contractors streamline procurement. The construction industry, which has struggled with low productivity growth, faces significant inefficiencies, costing the economy over $177 billion each year. BigRentz’s upcoming software, LIFT, uses AI and GIS technology to optimize procurement by analyzing job sites, vendor behavior, and delivery patterns. Set for release in 2025, LIFT promises to revolutionize the way construction professionals manage equipment, materials, and labor.

SHOW SUMMARY

In this episode of Disruptive Successor, Jonathan Goldhill discusses how family businesses in traditional industries like construction and equipment rental can modernize their operations with Scott Cannon, CEO of BigRentz. The conversation covers the challenges these businesses face, such as labor shortages and slow technology adoption, and explores how centralized procurement platforms can improve efficiency and profitability. Scott shares his journey from a logistics company to leading BigRentz, and provides insights into overcoming barriers to technology adoption. The episode also addresses the significance of strategic planning and cultural shifts within family businesses to adapt to modern advancements.

KEY TAKEAWAYS

• Modernizing Traditional Industries: Scott Cannon, CEO of BigRentz, shares how family businesses in industries like construction and equipment rental can modernize operations.
• Challenges Faced by Family Businesses: The conversation highlights key challenges, such as labor shortages and slow adoption of new technologies, that these businesses encounter.
• Benefits of Centralized Procurement: Scott discusses how centralized procurement platforms can enhance efficiency and boost profitability for family-run businesses.
• Scott’s Journey: He shares his transition from managing a logistics company to leading BigRentz, offering valuable lessons in business evolution.
• Overcoming Technology Barriers: The episode delves into how businesses can overcome obstacles to adopting technology and the importance of embracing innovation.
• Strategic Planning and Cultural Shifts: Scott emphasizes the role of strategic planning and necessary cultural changes within family businesses to stay competitive in today’s tech-driven landscape.

QUOTES

• "The most difficult personal things that my clients have had to go through is firing or letting go or having a difficult conversation with a legacy employee... He's not on board with managing other people in a way that is more current."
• "Young people, especially Gen Z, right? They want to be involved in decisions. They want to feel like they have a say."
• I think this needs to be planned. I think it requires the family to sit down and really look at their core values and be able to identify them."
• "We just have to, as business people, be more aware of what's going on and can't have our head in the sand."
• "Where that next generation is brought into the process... and there has to be a family dynamic to allow for conversation."
• "Some do it well, many don't. And it's, these are lessons to be learned and to apply in the future."
• "Succession planning is a really foreign concept to a lot of business owners... there's so much resistance to doing it."

Connect and learn more about Scott Cannon:
https://www.linkedin.com/in/sccannon/

If you enjoyed today’s episode, please subscribe, review, and share with a friend who would benefit from the message. If you’re interested in picking up a copy of Jonathan Goldhill’s book, Disruptive Successor, go to the website at www.DisruptiveSuccessor.com