The Fort

Chris sits down with his longtime friend Rayne Austin, the VP of Stronghold Resource Partners, to do a deep dive into the Cattle Business. Rayne walks Chris through the multiple phases of the life cycle for cattle, how each phase makes money, the "Big 4" packers, and how COVID-19 exposed a major bottleneck in the industry. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChrisLearn more about Chris Powers & Fort Capital: www.FortCapitalLP.com (03:46) - Rayne’s Background(05:43) - What are the phases of a cow's life and how do you move from one to the next?(08:42) - Do the calves only live off of their mother’s milk or are they consuming feed in the first phase?(09:52) - Do cows sell for less if they haven’t been weened?(10:14) - How much money are people trying to get from selling in the calf/cow phase?(10:57) - How do you transfer 10,000 calves to the stockyard?(12:05) - How many calves fit in a truckload?(12:24) - What’s the purpose of the stockyard?(14:00) - How big are you trying to get the cows to become in the stock phase?(14:20) - What’s the pricing model for cattle?(16:40) - What do cows look like at the end of the stocker phase? What happens when they move to the feed yard?(17:50) - How long do they stay in the feed yard?(18:06) - Where does all that feed come from?(18:41) - Do they go to slaughter from the feed yard?(19:05) - Why don’t folks complete all three phases under one roof?(20:22) - What are the biggest risks in the industry?(21:33 ) - What are the biggest upsides to the business?(22:31) - Why were the packing houses doing well but not the cattle ranchers during COVID?(24:08) - What happens when you have cattle ready to leave the feed yard but packers not willing to take them?(25:28) - Can a cow get ‘too big’ to where it affects the meat?(26:19) - How is veal made?(27:25) - Rayne’s Experience Working at the Largest Virtual Auctioneering House(29:34) - Does everyone buy in the business hedge or is it case by case?(30:41) - Why are calves who haven’t been weened high risk?(31:36) - Why do some people hedge and some don’t?(33:04) - How is the majority of this business made up from an ownership perspective?(37:39) - Does the climate and location of feed yards change what the cow will look like?(39:56) - Are the majority of these legacy companies just growing to a point where the barrier to entry is more difficult?(41:41) - What’s the day to day like for someone like your grandfather working in the field 7 days a week?(44:35) - How many cattle are there per acre in America?(1:11:31) - Who are the Big 4 in Cattle?(1:11:58) - What did the government do for cattle ranchers during COVID?(1:13:10) - How far out can you hedge?(1:14:26) - Since you’ve been around, what’s been the best year to be in this business?(1:15:58) - Do the major packers dominate the industry or does it revolve around the cattle rancher?(1:16:35) - How would you value a cattle operation?(1:18:44) - The U.S. Beef Trade Deal with China(1:19:49) - If you had 100 million dollars and you had to invest in the cattle business, where would you put it?(1:21:45) - What is a day like for a ranch hand?(1:24:01) - What does it cost to lease land to put your cattle on?(1:26:25) - We’ve found ways to make food for cheaper and less. At what point have we gone too far and we’re just making bad beef?(1:28:02) - Do cattle ranchers pay insurance on the cattle?(1:29:58) - How far are we from a point in time where there are not enough people in the industry?(1:30:42) - What’s your favorite cut of beef?(1:31:01) - What’s the best advice you’ve ever received?The FORT with Chris Powers is produced by Straight Up Podcasts

On today's episode, Antonia Botero, the Founder and Principal at MADD Project, joins Chris to discuss her experience in large scale multi-family conversions and ground-up development construction in Manhattan. They'll discuss project & construction management in the real estate industry, how to hire a General Contractor, how to make a great contract, early things to do to make a project more successful, ways to save on project costs, holding contractors accountable, negotiating and much more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com   (02:35) - How did you become a wizard in project & construction management? (06:31) - What does studying architecture mean from your perspective and do you recommend others do the same? (09:57) -  How has technology opened the ecosystem for people to quickly study architecture? (11:45) - What does ‘getting into the field’ mean to you? Why were you drawn to it? (12:37) - Designing Feasible Buildings vs. Buildings that Simply Look Good in a Rendering (15:29) - What is MADD Project? (15:57) - Why is having an owner's rep useful? (19:45) - When is the best time to hire an owner’s rep in a project? (22:35) - What is it like getting a project done in a mega-city like New York and dealing with community boards? (27:32) - What’s the difference in breakdowns on the consulting side of MADD Project? (30:53) - What’s the best way to hold contractors accountable to their timeline? (33:29) - What are three things that make for a really strong contract? (35:32) - Are you usually the GC on a project or do you help hire a GC?  (38:25) - What does bonding mean? (39:29) - Which incentive structures work best with contractors? (42:42) - What is a GMP?  (Guaranteed Maximum Price) (45:20) - When entering a brand new market, what are things you want to hear from a GC before doing business with them? (47:08) - What do drawings look like in a good place vs. a bad place? (48:40) - How do you know who’s worked on a certain project when talking to GCs? (49:25) - Have you learned any major lessons following big mistakes? (58:07) - How do you deal with change orders if there’s ambiguity in the contract? (1:00:12) - What next-gen construction form do you see having the most viable cost savings over the next 5-10 years? (1:02:41) - Are you seeing signs that construction costs will come down? (1:04:30) - Do you have a morning routine? (1:06:03) - What’s the best advice you’ve received? (1:06:22) - What is the best book you’ve read recently? The Art of Asking - Amanda Palmer (1:07:05) - How has twitter impacted you and your business? (1:09:14) - If you owned a billboard on the side of the road, what would you put on it for the world to see? (1:10:12) - Antonia's Contact Information Antonia's Twitter The FORT with Chris Powers is produced by Straight Up Podcasts

Sce Pike is the Founder and CEO of IOTAS, a complete smart apartment ecosystem with simple installation giving residents the best user experience for their Smart Apartments. On this episode, she and Chris talk about the early days of the startup, the importance of getting right in front of your customers, how IOTAS is helping users at the property management level, Sce's experience during the DotCom Bubble, and much more. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapital.com (01:42) - Sce’s Story (03:40) - What did IOTAS look like early on as a startup? (05:49) - Are there things about IOTAS that might have been different if you hadn’t started the company in an actual apartment? (08:19) -  Can you explain the IOTAS product from a software perspective and how it integrates with hardware? (10:33) - Are you a better fit for someone building brand new units or are you able to integrate with an already established apartment? (12:14) - For fully operating complexes, what is IOTAS' process for coming in and integrating everything? (13:28) - What are the most common ways that tenants are using the product? (15:08) - What does it look like at the property management level? (16:37) - Is there data on the average savings amount you’ll present to potential customers? (17:17) - Do you provide reports on efficiencies? (17:59) - What’s the long term vision for how the IOTAS set up works? (18:36) - Is there anything that the IOTAS product is doing that you didn't expect? (22:42) - What are the biggest bottlenecks for your ability to scale? (24:50) - How did the partnership with Amazon come about and why did you choose them? (28:46) - What’s the difference between using Alexa without linking their account and actually linking it? (29:31) - When are potential tenants interacting with Alexa? (30:36) - Is this an exclusive partnership with Amazon? (30:52) - What’s it like working with Amazon? (31:51) - Is Apple trying to get into this space? (32:26) - What does an exit look like in this space? (33:26) - What’s the definition of a TelCo from your perspective? (33:55) - How did you get into this industry? (35:46) - What was your web design business like in college? (36:19) - What was the DotCom Bubble like in the early 2000s? (37:18) - What was it that ended the company you were employed with during the bust? (40:00) - What is "creative destruction"? (41:18) - How were you able to create self-guided tours and have them ready in 4 weeks? (43:07) - How does the self-guided tour work? (44:52) - Where have you learned your leadership style? (45:45) - What’s the reality of Portland right now? (47:54) - Do you have a morning routine? (49:19) - What’s the best advice someone’s ever given you? (49:59) - Any books that have inspired you? The Hard Thing About Hard Things - Ben Horrowitz Measure What Matters - John Doerr (50:53) - If there was a billboard that you could put anything on for the world to see, what would it show? (51:14) - What's the best way to reach you or find IOTAS? The FORT with Chris Powers is produced by Straight Up Podcasts

Mark Duclos is the Co-founder & President of Sentry Commercial and the President of the Society of Industrial and Office Realtors (SIOR). Sentry focuses on brokerage, property management, and construction management based in the Hartford and Western Massachusetts area. On this episode, they discuss the future of the office, working on deals with massive companies like Amazon, technology in real estate, Mark's experience in SIOR, and much more. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com (01:58) - Mark’s Story (07:26) - Which markets are you focused on and where are they located? (08:55) - What’s going on in the Western Mass/Connecticut market right now within the asset classes you work in? (12:50) - Are people that are leaving Connecticut staying in New England or are they leaving the area completely? (13:39) - What’s your take on office in the next 12 months? (16:51) - Do you think that NYC will come back stronger than ever or is there more permanent damage that people are overlooking? (18:14) -  Are you seeing an influx of demand for E-commerce? (19:56) - Is there anything different about working with Amazon compared to other clients? (21:36) - Is the 3.8 million square feet all under one roof or how is that broken out? (22:45) - Are you involved in any of the Amazon moves to purchase defunct malls, JC Penny, Sears, etc.? (23:40) - What is SIOR and why did you become so involved? (26:02) - How do you become a member of SIOR? (26:57) - What kind of insights does SIOR provide its members? (28:11) - What is your role as president of SIOR? (30:24) - What have you learned in this leadership role through the past year? (32:16) - How does your business use technology and why is it so important as we move forward? (36:27) - Why did you decide to get into Residential & then into Multi-Family? (37:44) - Do you have a morning routine? (40:10) - What’s the best advice you’ve ever received? (41:46) - Is there a book that has had an impact on you? - Never Eat Alone by Keith Ferrazzi - Feedly: The News Aggregator (42:44) - If there was a billboard you could put anything on for the world to see, what would you put? (44:09) - How can people contact you? The FORT with Chris Powers is produced by Straight Up Podcasts  

On today's episode, Chris breaks down why Fort Capital has spent so much time and energy in the Class B Industrial space over the past 4+ years. He lists the four most important reasons for pursuing Class B Industrial as well as why he believes this asset class has a promising future. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital: www.FortCapitalLP.com (01:09) - Episode Agenda (01:40) - The “ah-ha” Moment in 2016 and 4 Big Ideas (02:07) - Idea 1: Do we think online sales will increase or decrease? (02:49) - Idea 2: Class B Industrial is Infill in Nature (03:29) - Idea 3: How Travis Kalanick, Founder of Uber, Goes on to Found Cloud Kitchens Using Industrial Space (05:16) - Idea 4: The Depleting Supply Class and Growing Tenant Base (10:21) - Why Class B Industrial is Sticky (12:02) - The Cannabis Opportunity for Class B Industrial (13:00) - The Historical Ownership of Class B Industrial & Flying Under the Institutional Radar (14:25) - Class B Industrial Has a Predictable CapEx (16:16) - Management in Class B Industrial (17:16) - The Value Add and Their Un-Sexiness (18:13) - The Wrap Up (19:36) - Call Out to Owners & Brokers Looking to Chat/Sell Industrial Fort Capital's Deal Incentive Program The FORT with Chris Powers is produced by Straight Up Podcasts

Entrepreneur Nick Huber discusses his journey from starting a lawn care business to launching Storage Squad, a successful student storage company. He talks about the challenges, growth, and future of his business. They also discuss the use of Twitter for learning and engagement, the importance of finding a supportive spouse, technology in managing self-storage facilities, predictions for Walmart and Amazon, digital marketing strategies, and the power of Twitter for networking and capital-raising.

Charlie Royer is the 4th generation to take up leadership at Royer Commercial Interiors (RCI), an office interiors supplier for the DFW metroplex. On this episode, Charlie and Chris discuss what it's like being in a company that has lasted 4 generations, what businesses of all sizes should be thinking about when working with their interiors supplier, and how RCI, and offices across the US, are adapting to the current business environment. Enjoy!  Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Fort Capital & Chris Powers: www.FortCapitalLP.com (02:13) - Charlie’s Story Before Working in the Family Business (03:52) - What is it like being part of a 4th generation business? (05:41) - Is there something your family did differently to get to the 4th generation of ownership? (06:57) - How big is the office interior furniture market nationwide vs. in DFW? (08:00) - How often do you go to Haworth (furniture manufacturer) and what is that experience like? (08:53) - What do you consider a large project to look like? Is there a difference between working on a $1M deal vs. a $20M? (09:57) - How far in advance of a big job do you need to start working on it? (10:28) - What should small or medium sized business owners think about to avoid a stressful process? (12:49) - What are you and your clients saying about the world today vs. 1 year ago? (16:33) - Is there anything that companies are doing now that others should think about? (19:00) - Are you seeing potential for a WFH line of furniture? (20:34) - Which idea wins going forward? - A heavily remote team or a more spaced out office environment? (22:32) - Are you expecting more offices to abandon the open floor concept? (23:44) - Are there any COVID-era lines of furniture coming out? (26:12) - Do you get to see the company surveys showing what employees are asking for furniture wise? (27:42) - Is anything happening in government/health/education office trends that are different from traditional offices? (28:30) - Do you only sell new furniture or do you offer repurposed items? (31:13) - What has been the biggest change in office since the 1950’s? (33:35) - Is there a ‘godfather’ in the industry that everyone looks toward? (35:02) - What is the ‘all’ that you do for your clients? (37:37) - What are the coolest office features that you’ve seen that people love? (39:35) - Charlie’s Experience Working on Fort Worth’s Dickie’s Arena (43:55) - What does RCI look like 10 years from now? (47:03) - How does the scope of work change when you work with a 5,000+ person companies? (49:44) - How long would an installation for a company that big take? (51:18) - What do you tell companies to expect the day after installation? (52:41) - Why does the "furniture guy" always catch the flack? (53:04) - How did you learn business development? (55:48) - What crazy prediction would you make about the industry 10 years from today? (57:10) - What’s the best advice you have ever received? (57:16) - What’s the best book you’ve ever read? (57:52) - What’s the best way for people to reach you? Charlie's Favorite Books: Strong Fathers, Strong Daughters Traction Contact Charlie: charlier@royer-furn.com The FORT with Chris Powers is produced by Straight Up Podcasts

Linda Day Harrison is the founder of theBrokerList.com, an interactive, collaborative community of CRE brokers and other professionals. Today they discuss Linda's experience in Real Estate as technology was becoming a major part of the industry, how she was able to build a tech company without any technical experience, the importance of building relationships both in-person and online, and how theBrokerList has impacted deals in the industry. Enjoy! Follow Chris on Twitter www.Twitter.com/FortWorthChris Learn more about Chris Powers & Fort Capital www.FortCapitalLP.com Check out theBrokerList www.theBrokerList.com Contact Linda: linda@thebrokerlist.com Linda's Favorite Book: Feel The Fear...And Do It Anyways (01:56) — Linda’s Start in Real Estate (04:17) — How did you market your properties to brokers before the technology we have now? (10:45) — How did the idea for theBrokerList come about? (16:06) — How did you get started building the tech side of theBrokerList? (19:13) — How many brokers are on the list today? How do you continue to grow it? (20:23) — How has theBrokerList grown beyond just being a list? (22:17) — Linda's Deals & Experiences as a Result of theBrokerList (25:27) — Looking back, what would you have done differently? (28:08) — The Importance of Both Technology-Based Relationships and In-Person Relationships (32:41) — What info has stood out from your community marketing discussions throughout COVID? (34:38) — What are your thoughts on office use in the next year or so? (38:45) — How do you keep theBrokerList's tech up to speed without a full-time tech team? (41:28) — What is your ultimate goal for theBrokerList? (43:06) — Do you think about how your business is valued? (45:53) — What’s the best advice you’ve ever been given? (47:47) — What’s the best book you’ve ever read? (49:04) — How can people reach you and find theBrokerList? The FORT with Chris Powers is produced by Straight Up Podcasts

On today's episode, Chris interviews Megan Hodges, founder of The Dowry - an ethically-minded wedding gift registry and curated artisan marketplace. They discuss Megan's journey as a business owner, the transition of skills from a corporate career to a start up company, the mission behind The Dowry, and Megan's experience in digital marketing. Enjoy! Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com Visit The Dowry: www.TheDowry.co Contact Megan: megan@meganhodges.org Megan's Favorite Book: Soft Selling in a Hard World (01:47) — Megan’s Career Before Founding The Dowry (07:22) — What was the inefficiency you addressed at your previous job? Do you think there are many employees who notice inefficiencies at big companies but never say anything? (09:56) — Why have you gravitated toward marketing and sales? (12:52) — Was there a moment when the lightbulb went off to start The Dowry? (18:36) — The Dowry and Its Mission (23:52) — When did you officially launch The Dowry? (28:52) — Are people spending more on gifts since they are not spending money on weddings (due to COVID)? (30:20) — What was the process of building out The Dowry website? (33:56) — How has the process of finding artisans evolved? (38:34) — Do you remember the first artisan who finally said "yes"? (40:00) — How do you find artisans? (43:19) — What does your criteria for finding artisans look like? (45:51) — Do most artisans sell their goods on other platforms as well? (47:46) — Are the majority of people buying gifts actually invited to the wedding? (51:36) — How did you pivot to raise capital in March when COVID hit? (56:32) —  When do you think weddings will start to take place again? What do you see a year from today? (1:00:07) — Who taught you digitally market? (1:05:30) — What is a naming convention? (1:07:39) — What is the best way to reach your customer? (1:10:43) — What does digital marketing look like for your company specifically? (1:13:35) — How do you feel about Amazon? (1:16:30) — How big is your target market? (1:18:29) — What advice would you give to a potential entrepreneur? (1:20:20) — Do you have a morning routine? (1:20:51) — What is the best advice you have ever received? (1:21:50) — What is the best book you have ever read? (1:23:14) — How can people contact you? The FORT with Chris Powers is produced by Straight Up Podcasts

Chris interviews Goran Krndija and learns of his incredible story growing up as a refugee in the United States and ultimately founding his tech company, Gozova, here in Fort Worth. They discuss the process of raising capital, the experience of a bootstrapped start up, entering new markets, and advice for founders. Enjoy! Learn more about Chris Powers & Fort Capital at www.FortCapitalLp.com Follow Chris on Twitter: www.Twitter.com/FortWorthChris Learn more about Gozova: https://gozova.co/ (01:15) — How Goran's Family Survived the Bosnian War in the 90’s (06:30) — What was it like living in a fish warehouse for a year? (08:15)  — What was your initial experience like in America? (09:25) — What does America mean to you? (09:50) —  Where were you doing in life at the age of 18? (11:00) — How did you come up with Gozova and what is it? (13:10) — What was the process of developing an app like? (14:42) — What was the business like before the app was fully developed? (15:12) — How did the first year go after everything was functional? (17:20) — Were you prepared for your first rush of growth? (18:19) — What’s something you've learned about the moving industry that you didn’t know before? (19:07) — How were you hiring drivers back in the day vs. now? (20:19) — What does your fleet look like today? (21:18) — How do you think of your business in terms of tech vs. service? (21:48) — Are Gozova's 150 drivers doing this full time? (22:36) — What was your first round of fundraising like? (26:24) — How did you feel after completing your fundraising? (27:07) — What did you do with the $500k you raised? (29:43) — Why do you now want to raise $2M? (31:05) — Why are commercial partnerships important and what do those relationships look like? (33:17) — When was the last time you made a delivery? (33:49) — How does Gozova get into a new market and become profitable so quickly? (34:41) — Insurance for this Industry (35:30) — How has COVID affected the business? (36:35) — How many customers have you served to date? (37:26) — Where do you see yourself in 5 years? (37:55) — Why are you getting involved with real estate owners and property managers as a means of business growth? (40:06) — Do you have a morning routine? (40:30) — Goran’s Family (41:19) — How important is it to find a wife that’s supportive? (42:16) — What’s the best advice you’ve ever received? (42:49) — What advice would you give your 21-year-old self? (44:00) — What’s your favorite book? (44:26) — What’s the best way for people to reach you or contact Gozova? The FORT with Chris Powers is produced by Straight Up Podcasts