Banking on KC – Courtney Kounkel of Monarch Builds
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Kelly Scanlon:
Welcome to Banking on KC. I'm your host, Kelly Scanlon. Thank you for joining us. With us on this episode is Courtney Kounkel, the founder and owner of Monarch Build, a commercial general contractor headquartered in Overland Park and one of the fastest-growing general contractors in the metro. Welcome, Courtney.
Courtney Kounkel:
Thank you for having me. Excited to be here.
Kelly Scanlon:
Monarch has had tremendous growth in the last few years in particular, so what's been the catalyst for that? What's driving that growth?
Courtney Kounkel:
Lot of things that could probably attribute that to. I think having a really great team obviously helps any company grow. I think having been in the construction industry, personally, for 25 years helped having that platform to start with. But I think companies are just also really interested in investing in woman-owned companies, especially ones that are qualified and do good work, which I think we do. And so I think we've just been really surrounded by a lot of great clients that want to see us be successful.
Kelly Scanlon:
What industries do you focus on?
Courtney Kounkel:
We have a pretty broad range of industries. I think most important is we're a commercial construction company, so we're not doing residential work, but we do a lot of retail, especially renovation work of existing retail centers, medical, so that's a lot of times dental or medical office buildings. We do corporate work, like any contractor probably does, is office renovations or new buildings. And then we do a lot of nonprofit work. So the Jewish Community Center have actually been a great repeat client for us. And then, most recently, we've gotten into sports, so we've done some work for some school districts and then also now doing work for professional teams.
Kelly Scanlon:
Well, and huge, huge project you're working on now. You're part of the team that is constructing the first professional women's sports stadium in the world right here in Kansas City for the KC Current. What does that mean for Kansas City?
Courtney Kounkel:
What the Kansas City Current is doing for Kansas City and just really for women, in general, is really elevating what the expectations are for women and what women should have, it should be equal to what men are getting.
Kelly Scanlon:
Yes.
Courtney Kounkel:
So I don't think it's about sports, to be honest. I think this stadium has such a bigger statement. I think that's why it's so world-renowned that it's happening. They're really setting the tone that there's no reason why women shouldn't have exactly what men have. To be part of the stadium though, we're kind of a small middle size construction company, so we don't often get the opportunity to participate in a project that size. So it's really just a great opportunity to elevate our status too as a construction company to be part of a bigger project, but then to have it be something that's on a national stage.
There's so much pride behind being part of it. You just want it to be perfect and you want to hit all our milestones. And then we've been really fortunate, obviously, we're partnered with Jay Dunn and so they've just been an incredible partner. They could have kind of squashed the little guy and they have treated Monarch and our team as peers, which has been a really great experience too. But it's hard not to get excited about the longest vision.
Kelly Scanlon:
What are some of the other projects that you're involved with that our listeners might recognize?
Courtney Kounkel:
I think the Ranch Mart Shopping Center at 95th and Mission was a long time coming. I think everyone was excited about having finished. We've done a big expansion for the Jewish Community Center, and continue to do some other projects out there for them. We're getting ready to move the Harvesters organization's Topeka Distribution Center to Lawrence, so that's a big exciting project.
Kelly Scanlon:
The construction industry as a whole has been very volatile. Even before the pandemic, there was a shortage of skilled workers, and then obviously the pandemic made that even worse, and you throw the supply chain shortage on top of that. So how did Monarch navigate those challenges?
Courtney Kounkel:
We really just forged ahead. We obviously had to change how we did stuff and had to deal with the fact that we were having trouble gathering materials. But in general, we kind of forged ahead. But I think the biggest challenge we're having now is the craftspeople shortage. And although it's really exciting that Kansas City has all these mega jobs with Panasonic and the data center up north and all the mega kind of Facebook stuff, people think because the airport's wrapping up that that's going to free up all these people, and really they're just diverting to these other mega jobs. So I think the Kansas City market so exciting, there's so much happening, but it is going to, I think, keep a strain on the construction industry for another two or three years, to be honest, until we can catch up and there's more people available to do the smaller projects.
Kelly Scanlon:
How would you characterize the state of the construction industry today? Yeah, we have a shortage of labor here in Kansas City, but what else factors into what's going on?
Courtney Kounkel:
We've been concerned about the triggers that would slow down construction, and one of those being interest rates going up. With developers, there are the components as long as construction costs are going up, but lease rates keep up with that, then it still makes sense to develop. But as interest rates also climb, then the cost of them financing the projects go up, and so then lease rates and construction costs are going up too fast, lease rates aren't going up fast enough to keep up with the interest rates.
And so I do think developers could be slowing down at what they're working on, but I do think there's always going to be first, companies my size, there's always going to be just the construction that has to happen, so that will sustain us. But I think our size company can weather those storms better than if you're a big company.
Kelly Scanlon:
You mentioned retail earlier, that you're involved in that, and there has been some talk that because of the internet and online shopping, and even with the work from home, I guess I'm getting a little bit beyond retail there even, that there's not going to be as much need for some of the office space. What are your thoughts on that?
Courtney Kounkel:
So we'll start with retail because there is this expectation that if everyone can buy everything online, there's no need for retail. What we're finding as we renovate retail shopping centers is there is still a need for a local destination. People still want to eat, they still want to have other experiences. There are a lot of people who still want to shop at local businesses. So I think there's still an opportunity for the retail shopping centers to be relevant.
Flipping to office, because that's another good question. This is my personal opinion, so we'll see if I'm right. I'm going to get out my crystal ball, but I think the work-from-home is temporary. I don't think that's going to be long-term. I think what happened when Covid hit and everyone worked from home and people thought, okay, this is great. It works. Our culture's still amazing. I think the reality is they were enjoying the investment they made over the last decade to create a great culture. And so that translated into working really well work from home. But I think if you fast-forward another five years, they haven't been investing in their culture because everyone's separated. And so as they have transitioned in their companies, they're going to find they really need to pull people back in. So that doesn't mean necessarily I think they're going back five days a week, but I think there's going to be some sort of hybrid.
Kelly Scanlon:
Yeah, that's a really good point. I have read about some of the people who are just entering the workforce that haven't had the opportunity to work in a corporate environment or as part of a team, and you don't have the opportunity when you're working from home to make those business relationships with your colleagues and so forth.
Speaking of culture, one of the things that I've heard you say before that you're most proud of about Monarch is its culture. So tell us about that. Elaborate on how you created that culture and the intentionality behind it. What were you striving for?
Courtney Kounkel:
At first, I would tell you I think culture's really built by the people in the organization, not the leader. The leader by far can help incentivize or, sorry, influence is probably the better word, but I really wanted a company that was built on trust and a core value of being honest and ethical and doing what's right by all partners. So of course, we're always working for clients, that's important, but we aren't able to meet our goals if we don't have really great trade partners working with us as well. And then we can't build something if there are not great designers working alongside us too, architects and engineers.
And so I think I wanted our culture to be that we treat all of those people fairly. So although we have an obligation to make sure we're doing what's right by our clients, we also want to be doing right by our other partners that are involved in a project. So I think that's kind of the start of where our culture went, but then it really is on our team to decide whether they own that and honor it on their own, which right now we just have the most incredible team that really believes in doing the right thing kind of above all else.
Kelly Scanlon:
This isn't your first rodeo. As an entrepreneur, you're part of the founding team at Center Projects and other companies prior to that. So what drew you to the construction industry and how did that career trajectory lead you into entrepreneurship?
Courtney Kounkel:
Yeah, so I actually have an architecture degree, which some people know. And I finished school overseas, so I lived in Copenhagen, Denmark for about two and a half years. And while I was there though, I had this glorified title of assistant to the director of the architecture department. I toured students to look at architecture around Western Europe. And although I clearly developed a love of the built environment, I realized I was not going to be designing it. That those visions were not in my head, but I knew I wanted to be part of it.
So when I moved back to Kansas City, which is where I grew up, I immediately interviewed with architecture firms because I thought that's what I was supposed to do, and got really lucky to meet somebody at a holiday party who said, "Hey, I think you should go work in construction. I've heard your story now, and I think that's the right fit."So he introduced me actually to a woman-owned construction company, believe it or not, 25 years ago, and that's how I got into the industry. And really they took a risk on me. I took a risk on changing directions and the rest is history.
Kelly Scanlon:
That was great, I bet – the mentorship being with another woman construction owner. Did her entrepreneurship rub off on you?
Courtney Kounkel:
Yeah. Well, what's interesting, it was three partners. Two were women and one was a man. And I actually think it's as important to note that the male partner was actually probably just as invested in my success as the women because I think that's important, that men are also supporting women in being in business. And so I think I took it for granted at the time. I didn't know better. I didn't know that that was unique, to be honest. But then I found my way.
I was there for five years. I ended up working. This is where I joke I started my startup tour. I ended up moving to Macau Gordon, which at the time was also kind of a startup and had a great career with them. But seven years into that, I just thought, this is my chance. I had an opportunity where I could go start a construction company with a couple partners, and although I had three kids, three and under, I decided to go for it. We did it right out of the back end of the recession. So everyone thought we were crazy starting a company in 2010, but we actually thought we were pretty smart that we were going to be really competitive with no overhead. We could do the work ourselves, and it worked. Quite honestly, it grew into a kind of grew fast.
Kelly Scanlon:
So just like the culture you've been building there at Monarch, you're also building a culture within the Kansas City community itself. You're involved with a lot of nonprofit boards and community service, and a lot of entrepreneurs, I've heard this for years, a lot of entrepreneurs say they want to be involved, but they just don't have the time. They're so busy running their companies. And so with limited time, tell us first, why are you passionate about making time to serve the community? And second, how do you decide which causes you're going to give your time to?
Courtney Kounkel:
I think early in my career, again, probably looking at mentors, look at Breck Gordon and Pat McCown who were kind of initial mentors in my second company, were both really big at giving back. And so it was just followed in their shoes, to be honest. It just was what I was supposed to do. And then you find a passion for it, right? The more you give to something, the more it gives back. Initially, I found organizations that meant something to me personally, so I was very involved with the Leukemia Lymphoma Society. My niece is a survivor, so that was fun to be part of something that was a personal family.
The other, I built the Ronald McDonald House in Longfellow when I was at McCownGordon, and during that process was when my niece was at Children's Mercy, and so we met lots of families that were staying there. So again, this personal connection. So as soon as that project was done, I had the opportunity to serve on their board.
And then, as I've kind of progressed in causes, I think it's super important to find something that you actually believe in. I think sometimes people get on boards because they think it's a networking opportunity or it will build their business. And my advice all the time to people is, of course, those things will happen if you find something that you truly believe in. You won't give your time, talent, and treasure in a way that's meaningful if you don't believe in the cost.
Kelly Scanlon:
All of your contributions and all of your success, haven't gone unnoticed. You've racked up a number of business awards, including the Business Journal's Women Who Mean Business, and the Next Gen Awards. You've also won Ingram's 40 under 40, and the WE KC Kansas, City Women Executive, and there are others as well. It's always nice to be recognized by others like that third-party endorsement, whatever you want to call it. But what I'm curious to know is what entrepreneur has taught you about yourself, perhaps something that maybe you didn't recognize about yourself before?
Courtney Kounkel:
I think I learned that I was more resilient than I thought I was. Entrepreneurship is not for the faint of heart. It is difficult. It is hard. It is very stressful. You're responsible for other people's livelihood often by making sure your business is doing well, that they're doing well. But knowing that when I've run into those issues or challenges that come out on the other side okay.
Kelly Scanlon:
I hear that often from entrepreneurs, is they didn't feel like they doubted themselves. You don't go into entrepreneurship to begin with if you doubt yourself, but just that they didn't realize that they had as much that sticktoitiveness as maybe it requires sometimes. If money and time were not an issue, what would you be doing, Courtney?
Courtney Kounkel:
You're going to think I'm crazy, but I would be a private investigator.
Kelly Scanlon:
Oh, really? I have to hear why. Why?
Courtney Kounkel:
I'm addicted to Dateline, which is an embarrassing addiction, but I really love just kind of finding out what's going on behind the scenes and really understanding the truth. I don't know. I couldn't be a CSI agent because I can't stand the blood and gore, but I joke all the time that I would have my own little PI agency.
Kelly Scanlon:
Oh, that's hilarious. All right, so let's bring it back home to Kansas. City now. You've got the current project going on, building that world-class stadium right down there on Berkeley Riverfront Park, and so many other projects going on in Kansas City, and everybody's excited about Kansas City, not just Kansas Citizens. I have friends all over the country. They're like, "What's going on in Kansas City right now?" I guess it helped that the Chiefs just won the Super Bowl. Tell me what you think the future holds. Where are the opportunities and which ones do you think we've got a great chance of taking advantage of?
Courtney Kounkel:
Well, we obviously have the World Cup coming in 2026, and we have the NFL draft coming. I hope, to be honest, Kansas City continues on that trajectory, but we also stay really true to our Midwest roots. We don't want to be a big city, I don't think. I think we want to stay kind of a middle market city that is really desirable, but we don't lose track of what makes us so desirable, which is that we're really friendly, we're welcoming to people from outside, and we're just a good Midwestern group of people.
Kelly Scanlon:
Well, Courtney, we wish you so much continued success in Kansas City. Thank you for all that you do for the community, not just in the construction industry and your leadership there, but for what you do in the nonprofit community as well. And good luck on the current project, too. That's so exciting.
Courtney Kounkel:
Thank you. It's been a pleasure.
Joe Close:
This is Joe Close, president of Country Club Bank. Thank you to Courtney Kounkel for being our guest on this episode of Banking on KC. Monarch Build is a successful commercial general contractor because Courtney and her team know the construction business inside and out. But any good contractor should know their industry. What sets Monarch apart is its forward focus on community and client relationships, building a culture that earns the trust of business owners, developers, architects, and subcontractors must come before building projects. It's an approach any company can embrace. If you build long-lasting relationships, encourage idea-sharing and emphasize proactive communication, you and your clients become vested in one another's success. It's an approach Country Club Bank embraced when we were founded 70 years ago, and one that'll carry us into the future. Thanks for tuning in this week. We're banking on you Kansas City. Country Club Bank, member FDIC.