|
Category:
Published: February 2007
He started his career pushing a broom. Today, he owns a multi-million dollar construction firm. Read the secrets of his success.
Success Magazine: Mr. Bonacio, congratulations on being named Executive of the month. What does success mean to you?
Sonny Bonacio: My father once told me that success is having the opportunity to do what you want to do, not merely what you have to do. I am very fortunate because I really love what I do. I get an absolute rush out of the challenge. There have been times when people have told me that we couldn't build a 62,000 square foot house in sixteen months and we did, we still do. It is wonderful to look back and see what you have achieved-not just on paper but to be able to walk inside what you have built and see it for yourself.
SM: How did you get involved in the construction industry?
SB: I started in the business just pushing a broom back in the early '80s. I didn't have much formal experience in construction and had to really labor through in the mid '80s to prove myself. I graduated from Canton ATC in 1986 with a degree in Construction Management. In the late 1980s I went into building production with a firm and by the end of the decade I went off on my own. Starting off, we did anything we could to make payrolls and get the truck payments out on time, from restoration work, to sub-contracting, to deck building. A lot of the guys that started out then are still with me today.
SM: What made you stay in the industry?
SB: Our clients. What we really pride ourselves on is that we don't do a lot of advertising. All of our business is either from referrals given by our clients or former clients who want to do something new. So our clients have dragged us from industry to industry. For instance, Tom Roohan wanted to build a building on Broadway in Saratoga. I had never built a multi-story steel building in my life. But Tom trusted us and we knew we could figure it out and do a great job. And we did. Situations like that have led to expansions in our business that we hadn't even considered.
SM: Why do you think your clients have been so devoted to you?
SB: I think it is because they know the quality of the team we have. I have learned over the years that surrounding yourself with quality people is necessary for success. So I have my brother who has been working with me for over twenty years, several foremen and superintendents who have been here for over fifteen years-that kind of experience alone is invaluable. My general manager, Kathy Gosier, could finish every one of my sentences at this point. We also recently have brought on in-house counsel with Keith Ferrara, who was the attorney that got us incorporated back in 1989.
SM: Where do you see the future of your firm and the surrounding area?
SB: It seems to be with the baby boomers and that entire market. They really migrate towards quality of life and Saratoga just fulfills that need incredibly. We're only at the beginning of the curve for the baby boomer market and secondary and vacation housing. Saratoga Springs has a plan focused on keeping the outer areas green and not developed and really focusing on the urban core and supporting the development in that area which supports the downtown. I also think that AMD coming in will have a significant long-term impact on the construction market.
We have also done charitable work in the past and will continue to do so in the future. Charitable projects that we have contributed to are: the Saratoga Hospital Foundation where Julie was chairperson in 2003, and 2005; fund raisers for the Molly Wilmot Radiology/Oncology Center; and we were the Child Advocate of the Year for the Saratoga Center for the Family in 2003. Our company has also donated time, labor and material to build most of the dugouts and bleachers in most of Saratoga Springs.
SM: What do you think the effect of AMD will be on the area?
SB: Well, I think a lot of people are getting ahead of them and planning for a massive influx of jobs overnight. There will be an influx, but it will happen over the course of a decade. I think that it will be helpful for the area because right now we are losing manufacturing all the time and this gives us a kind of white collar manufacturing environment. As AMD moves in and the Tech Valley expands we'll probably see them move towards Mechanicville and Stillwater. So the distribution of wealth in the area will probably balance out a bit.
SM: How long will you continue to work and what are your plans for the future?
SB: I love what I do. I'm the guy who is down at the mill working the loader during snow storms. Going back to my original statement, I will probably be doing this for as long as I can because it is something I love to do.
SM: You've discussed your business success but you mentioned before the interview that family is far more important to you. How do you define success in that area?
SB: Well, on the personal side I have my wife, who is really my partner in everything and I love her dearly. I also have three small children and I make sure that I never let my business run my family life. I make sure that I never work on weekends and spend as much time as I can with my children during that time. I also have my work scheduled in such a way that I will always be able to see my kids get on the bus every morning. Speaking of my family, my wife is incredibly successful on her own.
SM: What does she do?
SB: Julie is with Roohan Realty and handles all of the sales of the buildings I create in the area. She has been the top agent there for two years and I think she is number three in the Capital District. Beyond that, I am really lucky to have her. We work as a team and it is really rare to have that close of a connection for that long with someone.
SM: Do you have any time for yourself?
SB: Yeah, I box three days a week. Not one of the smartest things I have ever thought of doing. Putting on the headgear and going toe to toe with a 250 lb boxer keeps you in shape and keeps you humble.
SM: What has been most gratifying to you? What do you think is your greatest achievement?
SB: That's a tough question. Probably marrying my wife
SM: Why do you think that?
SB: We forged a partnership that a lot of people can't get. People are always on different pages, different timeframes, different philosophies-we've been able to get by that.
SM: What advice could you give to a new contractor in the area?
SB: A lot of people in the construction industry aren't as serious as they should be. They don't take job safety as seriously as they should, they don't take accounting as seriously as they should, they don't take the IRS and taxes as seriously as they should. I also think that it takes courage to start a successful business. A lot of people have wonderful ideas that will work, but they're too afraid to try it. I see it time and time again, they're either too afraid or they don't want to put the effort into it that it requires. I've always thought that you can achieve anything you want if you're willing to work for it.
SM: What gave you the courage and tenacity that others lacked to build up your business?
SB: My father is the root of my success. Every Sunday morning when we were kids, starting from the age of ten, he used to bring us out to work. He had the cleaning contract for General Foods. And my brother and I would get in the car and go and sweep floors and mop and clean bathrooms. We worked hard as soon as we got up. He made it fun and I think the appreciation partly comes from that. When I was thirteen he let me drive. I could write a check, drive a car, it was always that way. My parents were always very goal oriented, hard working, and that just carries on in all three of their children-myself, my brother Tony and my sister, Laura. It was always that way. Yet they were also always there to protect us. My dad would always tell me about an opportunity and we always made sure that we thought it through. It's the follow through that so many businesses lack today.
|
