ENT630 – Entrepreneurial Growth
SME Interview with Cornelious D. Lamberth
By Michelle Ballard
December 1, 2015
Mr. Cornelious D. Lamberth is President of C2 Contractors, LLC of Greensboro, NC. C2 Contractors, LLC, formerly CoMor Corporation, is a leading communications and construction solutions provider specializing in the design, implementation and delivery of leading networking technologies and general trade construction. They are dedicated to providing unsurpassed quality services and solutions. I wanted to interview Mr. Lamberth because he has a thriving business with one of his divisions in the Construction industry. Although this industry has been very volatile over the past several years, Mr. Lamberth has managed to adjust to the changing environment while attracting and retaining loyal employees.
The Interview
How did you decide to start the business?
I had been managing a major Information Technology firm for six plus years when my Dad was forced to retire from his company. After he retired, he asked me if I wanted to start an Information Technology company with him and I said yes. Shortly thereafter, CoMor Corporation was started.
How did you decide on the co-founders?
Since I reported to the VP of the company that I managed prior to starting CoMor, and I had experience in every area of the business, my father and I were the only founders/owners. I handled all aspects of sales, operations, and engineering and my father handled the finance department, which included billing, contracts and invoice management.
Do you regret the way you structured the company?
No. After doing our homework, we structured the company as an LLC, which was the appropriate structure at the time.
How do you recruit and retain quality employees?
Because of the technical aspect of my business, I look for candidates with a positive attitude, good communications skills and a strong work ethic. If they have this core set of skills, I will train them on the technical aspect of the business. I have actually developed a training system that provides me with a good indication of their skill levels within the first two months of training. This allows me to develop well-qualified employees who value education and the on-going training they receive from my company. As a result, the turn-over rate at my company is very low. As a result of the investment that I make in my employees, they remain loyal to the company.
How do your reward your employees, especially the good ones?
First, I reward my employees by paying them competitive salaries. This shows them that I value them. I also provide on-going training for employees, which is very valuable to them. There is a culture of mutual respect and appreciation for every employee in the company. Finally, I encourage employees to go to the next level in their careers. So, there is opportunity for growth.
How would you describe your company’s culture?
My company’s culture is family-oriented. When I first started the company, it was a family owned and operated business. Although my family is no longer involved in the business, I still operate with the same values. I believe that you must always put God first. Therefore, we still begin each day with prayer. There is a sense of mutual respect, teamwork and professionalism in all aspects of the business.
What are the greatest challenges of owning and operating a small business?
The greatest challenge for entrepreneurs is having the ability to obtain the working capital (financing) necessary to grow your business. One of the things that many business owners underestimate is the value of having a relationship with a banker. I strongly believe that the three most important relationships an entrepreneur can have is with his attorney, accountant and banker, with the most critical being with his banker. In order for a business to be successful, you need a banker who believes in your business and is willing to help you achieve your dream.
What are the greatest benefits of owning and operating a small business?
The greatest benefit of owning a business is the freedom to do what you want with the rest of your time. The first priority is to the business. However, after you have given 100% to the organization, you have the freedom and the flexibility to spend time with your family, attend your children’s sporting and school events, etc. This freedom is invaluable.
If you had to do it all over again, would you? If yes, what would you have done differently?
Yes. I would have started the company on a solo basis. I definitely would not have structured the business with a partner having 50% ownership in the company.
Do you have an exit strategy in place?
Yes – Sell it.
Do you have formal Board of Directors?
No – Just the Management Team with no outside investors.
