Transforming Catastrophe into Opportunity with Alex Hernandez (Ep. 37)

In the face of disaster, some see only devastation, while others find the seeds of opportunity. History has shown that from the ashes of destruction, opportunities emerge for growth, transformation, and progress. And the story of Miami and New Orleans, with its post-Hurricane Katrina revitalization, is a testament to this belief. This tale of redemption demonstrates the immense potential that arises from tragic circumstances. Whether in the construction industry or any other field, embracing failure, seeking new horizons, and pursuing passion are guiding principles for turning catastrophe into opportunity.In this episode, Brett Henderson talks with Alex Hernandez. Alex is the Founder and CEO of Hernandez Consulting & Construction, responsible for overall leadership and management of the firm along with setting strategy and culture. He expanded the company from New Orleans, LA, with an office now in Miami, FL, performing work in eighteen states. His prior experience as a U.S. military officer and as an executive in banking in the private sector provided the perfect backdrop for his entrepreneurial ventures with Hernandez Consulting & Construction, Albert Architecture, NORF Companies, and numerous joint ventures.Having served and supported numerous veteran servicing organizations, Alex has always felt passionate about veteran issues and has hired military veterans proactively. Today, Alex talks about how he turned adversity into opportunity, what a state historic tax credit program is all about, and how veterans can access government contracting assistance.Enjoy!In This Episode01:16 - Backstory of Alex Hernandez03:20 - What Alex's businesses are about06:17 - Alex's motivation for becoming an entrepreneur09:22 - How a catastrophe turned out to be an opportunity13:52 - Alex's first contract15:58 - What a state historic tax credit program is all about19:59 - How some people utilize their state tax credits22:21 - A guide to helping service members transition to entrepreneurship26:51 - How veterans can access government contracting assistance30:32 - A business mindset that drives Alex's success33:11 - How Alex overcomes business challenges38:26 - Alex's work ethic and quality of work41:08 - What Alex advises people who want to become entrepreneursFavorite Quotes19:42 - "The state tax credit is considered an asset. Holding onto that state tax credit for at least a year is a long-term capital gain. But most people sell them as soon as they get them, and then it's a short-term capital gain." - Alex Hernandez33:41 - "If you're not failing, on a semi-regular basis, you're probably not pushing yourself hard enough. And if you are going to fail, it's good to try to fail fast and get back up and get going." - Alex Hernandez40:18 - "In our business, unfortunately, you're only as good as your weakest subcontractor or weakest link. And a lot of times, that can hurt you in your projects." - Alex Hernandez40:35 - "It's harder to be in construction today than 15 years ago. A lot of folks have retired. Many good tradespeople haven't been replaced, and now there's a ton of work. It's a tough industry to be in." - Alex Hernandez42:07 - "There are a lot of things you can do in life. You just have to get up every day and do it. So definitely, find something you're passionate about." - Alex Hernandez42:30 - "Usually, when you start a business, the more you think you'll get out of it, the more you end up in it. So, make sure you pick