Need To Know For The CEO

Episode #1

Phil Lidgerton
Building Materials Nationwide

Phil Lidgerton is the CEO of Building Materials Nationwide, a UK-based company dedicated to supplying building materials to small to medium-sized construction businesses.

Phil’s leadership and innovative approach have transformed the company into a powerhouse in the industry, known for its exceptional service and competitive pricing.

Their Superpower: A Seamless Buying Experience

Building Materials Nationwide’s superpower lies in their buying team. They take the hassle and stress out of ordering building materials by accessing more products at great prices than any other merchant. They streamline delivery to the site when needed, ensuring that jobs get done much sooner.

A Journey of Determination and Success

Phil’s journey began in 2002 when he decided to leave his job at a large PLC merchant to start his own business. Despite the challenges, he was driven by a vision and a strong belief in his abilities.

In the first year, his target was to achieve half a million pounds in sales, but he managed to double that, reaching just under a million pounds.

"My first-year target was half a million pounds in sales, but I managed to double that, achieving just under a million pounds."

Overcoming Challenges and Learning from Mistakes

Phil faced numerous challenges along the way, including competition and the need to adapt to a rapidly changing market. He learned valuable lessons, particularly the importance of making decisions based on facts rather than emotions. One significant mistake was extending credit based on personal rapport rather than solid financial analysis.

"The best advice is to get everyone’s opinion, listen, and evaluate it."

Strategic Growth and Innovation

Building Materials Nationwide has grown by staying nimble and aware of market changes. Phil emphasizes the importance of having a clear strategy and being able to adapt quickly. The company is currently focused on integrating digital systems to improve efficiency and harnessing data to drive growth.

"Keeping the culture right as we grow is crucial."

Empowering Teams and Fostering a Positive Culture

A key factor in the company’s success is its empowered and psychologically safe team. Phil believes in hiring people who are better at their jobs than he could ever be and allowing them to flourish. This approach has created a high-performing team that is aligned with the company’s values.

"You need to invest and let your team control things they are good at."

Balancing Work and Personal Life

Phil is also conscious of the importance of mental and physical health. He maintains a healthy lifestyle through regular workouts, a good diet, yoga, and meditation. He believes in staying connected with friends and family and balancing the various roles in his life.

"I focus on physical health with regular workouts, a good diet, and yoga."

Words of Wisdom for Aspiring CEOs

Phil’s story is a testament to the power of vision, determination, and continuous learning. He encourages other CEOs to remain open to advice, hire talented people, and focus on personal growth. His journey is an inspiration for anyone looking to improve their organizational strategy and achieve success.

"Remember to stay connected with friends and family."