Hardware Retailing The Industry's Source for Insights and Information
From political leaders to CEOs, sports to the military, leaders come in all shapes and sizes, but the one attribute most have in common is a strong group of people supporting them. Having a solid team around them not only allows leaders to succeed in the short term, but assures they will see success in the future.
Just like the best teams have deep benches of players who can step in and get the job done, as a leader, bringing people into your fold who you can count on is key to your success. Craig Wadeson, owner of Wadeson Home Center in Warwick, New York, learned this lesson twice over—first when he took over the business from his parents Bill and Marilyn and more recently when he suffered a debilitating injury that required him to step away from the business for a period of time.
Lesson No. 1
Craig’s great-grandfather Howard Quakenbush opened the store in 1931, and his parents bought the store in 1978. That year, an eager 9-year-old Craig began spending time at the store with his parents, helping out where he could. Over the next several decades, Bill took the steps to bring Craig along as part of his bench well before he planned to leave the company to Craig. Bill created a solid business foundation for Craig to build on, then let him guide the business toward new growth after Craig bought the business in 2021.
When the COVID-19 pandemic hit, Bill took a step back to protect his health and started the process of officially handing the business off to Craig.
“Up to this point, my father was doing all the ordering and advertising, but during COVID, I started taking over the ordering,” Craig says. “That was the point it became obvious it was time for me to take over the business and the decision was made that it would come to me. We were doing incredible sales during that time and my dad wanted to be sure the business would carry on successfully for many more years.”
Craig says he surrounded himself with people who had different strengths to help him during the transition, including his attorney wife and accountant godfather, both of whom helped ensure a seamless process.
Craig’s wife, Jeanine Garritano Wadeson, is a successful attorney and justice for the Village of Warwick and provided legal advice. His godfather, Michael Vernieri, supplied financial and accounting insights.
After the transition of ownership from Bill to Craig, most of the employees stayed to work for Craig, including the Schork family. The mother, Carol, served as the store’s bookkeeper for years until her daughter Kristin took over those duties. The father, Andy, was a store associate who recently retired in January, and their other daughter Missy serves as a long-time store manager, working seven days a week with a dedication Craig says he hasn’t seen in years.
“The Schork family has made the transition very smooth. The trust has always been there and continues to be there; I mean, they have keys to the store, I trust them so much,” Craig says. “The Schork family are some of the hardest working people I know; they always get the job done and never complain. They are rock solid, and we wouldn’t do what we do without them.”
While the transition of ownership went smoothly for the Wadesons, Craig highly recommends talking through a plan well before you think you need to have a plan.
“Everyone I brought in around me was able to proactively communicate with each other to work toward the best possible outcome, but I would also advise connecting with others who have worked in the home improvement industry or who have experience with succession planning,” Wadeson says. “I also encourage new owners to rely on their co-op team to help with business planning, as having an experienced team on your side can help you make better decisions.”
Prior to taking over Wadeson Home Center from his father, Craig owned and then sold a store in Greenwood Lake to be able to focus on the store in Warwick. Craig agreed to stay on at that store for two weeks to share his insights and knowledge, as the new owner had no experience in the industry or retail.
“I tried to help him and his manager but they decided that I didn’t know what I was doing and didn’t want the help,” Craig says. “Unfortunately they failed because they didn’t build a bench at all. They didn’t have any advisors, didn’t tap into any of my knowledge, never talked to their rep or attended any markets or industry events.”
Lesson No. 2
In September 2024, Craig suffered a concussion, which required him to take time away from the business and has led to more discussions between Craig and Jeanine about the future. Those are conversations Craig knows will be crucial for the success of the operation.
When Craig’s great-grandfather unexpectedly passed away four generations ago, there was no formal succession plan in place, which caused such an upheaval that it almost led to the demise of the business. Bill learned from that situation, and Craig is determined not to allow it to happen again.
“I’m trying not to repeat history and stay on top of what’s next for us,” Craig says. “Even if you’re just having those conversations at home, everyone should be planning for the future.”
Craig’s setbacks from the concussion re-emphasized the importance of having a strong bench of people he could rely on to keep the business going. There are several jobs—such as driving the delivery truck—that only Craig handles, but not being fully available has made him realize he needs to make adjustments to ensure all tasks are covered, even if he can’t be physically present.
“I was supposed to be on 100% shutdown, but it’s been nearly impossible,” Craig says. “Thankfully my team has been able to pick up the slack for most of the tasks I take care of on a daily basis. And while it has not been a pleasant experience, it’s brought to mind different things we need to be thinking through and will hopefully set us up for even more success in the future.”
Choosing the Right Leaders
By Dr. Rob Mathews
In my travels, I interact with many business owners and leaders. The common thread in those conversations over the past several years has been the lack of available managers. Supervisory roles have become increasingly difficult to fill from either existing employee bases or external candidate pools. Worse yet, companies are more often than not promoting or hiring individuals into managerial roles who just aren’t ready for the job.
As with most business functions, the keys to bringing competence and confidence to your managerial positions start with being proactive and intentional.
Hiring for Potential
First, you need to strategize about hiring for future potential instead of just filling roles. Look for qualities you want in managers. Interview to find out which candidates are hungry to learn and have a growth mindset. Figure out if the candidate enjoys serving others. Hire quality and character over immediate needs. You need to fill roles, but you should also be mining for qualities that may predict the likelihood someone can step into a leadership role in the future.
Job Rotation
Second, the step into a supervisory role from the front lines is significant. It adds a layer of communication, accountability and relationship complexities. It requires one to step away from the very set of tasks of which they’ve been affirmed. Managers must have a more holistic view of the business. They need to see how the business works from many angles. They need to see how the pieces fit together and how one unit’s decisions, behaviors and performance affect their peers and the entity as a whole. Most companies fail miserably at this, but the best in the world excel at it. Disney rotates its park and resort cast members often between units and roles. They even rotate within units on a single day to keep things fresh. You have to be willing to endure some short-term pain for long-term gain.
Coaching
Finally, it is imperative the leaders in your organization learn how to coach your people. Have your leaders explain the why behind their decisions. Involve your people in decisions and strategy sessions. Let them sit in on meetings. Develop job shadowing and apprenticeship programs. Enroll them in training programs like the North American Hardware and Paint Association’s Retail Management Certification Program and Foundations of Retail Program. The key is intentionally investing in people to best prepare them for their future roles. Don’t just see them as someone who stocks the plumbing aisle and helps customers; invest in them as leaders.
Building a bench starts with proactive and intentional activities and practices that empower and prepare your team for the day that their name is called.
____________________________________________________________________
Dr. Rob Mathews specializes in how to build highly effective teams. His teaching style combines theory of human capital development mixed with practical knowledge that comes from previously owning a home center and growing up in his family’s chain of hardware and grocery stores. At Ball State, Mathews teaches a wide range of entrepreneurship courses, including business planning, decision-making, management ethics and finance. Mathews was part owner of San Marco Realty Inc., a retail home improvement business and real estate company, where he led a complete remodel that resulted in a more than 200% increase in revenue. Mathews was also owner and managing member of 67 Realty LLC, a retail home center and property management company, where he managed all strategic activities of the business.
