Nashville, Tennessee-based entrepreneur Scott Sohr is involved with several companies focused on real estate, finance, and technology. As chairman of Built Technologies, Inc., Scott Sohr heads a pioneering effort to create a construction-lending technology platform that connects long-term lenders and borrowers in the construction industry.
Construction lending allows borrowers to finance future construction projects. The complex process involves borrowers who research potential construction locations, secure legal build permissions and documents, acquire tenants, and finalize contracts; as well as those processing the build and tenant information, plus a mortgage broker and lender. The broker and lender manage negotiations and collaborate to secure the construction funding. They determine and finalize the loan amount, interest rate, amortization schedule, and other details.
With so many moving parts, utilizing an innovative software program to gather, organize and maintain all information related to acquiring a construction loan is valuable to all parties involved. Such technology helps to streamline and simplify the lending process by providing a single platform where all steps are listed and all parties can collaborate in real time.
As president of STS Ventures, Scott Sohr leads the Nashville-headquartered company that creates dynamic, growth-focused startups. Over the years, Scott Sohr has contributed to the successful launch of 13 enterprises that represent in excess of $2.4 billion in collective revenue and span industries such as health care, fintech, and construction.
One aspect of building a dynamic, results-driven enterprise that Mr. Sohr emphasizes centers on the importance of nurturing creative input and focused teamwork. As he puts it, organizational leadership must remove barriers to success to the fullest extent possible.
Common reasons for lack of motivation among team members include being thrust into positions for which they are not qualified or ideally suited. Building a team requires a careful assessment of individuals’ skills, temperaments, and the types of workflow that can be comfortably handled by them without them feeling that they are in past their depth. At the same time, the limited resources inherent in startups must be allocated in ways that maximize efforts and do not result in overlapping duties or competing priorities. The single most critical aspect of removing barriers that Mr. Sohr identifies involves encouraging healthy communication, which drives employee engagement and makes each member feel that he or she is a valued member of the team.
Based in Nashville, Tennessee, Scott Sohr leads numerous innovation-focused companies, from Health Cost Solutions to Built Technologies. As head of the startup incubator STS Ventures, Scott Sohr also leads the firm Correct Care Solutions (CCS), which has coordinated quality health care at juvenile and correctional facilities in the United States and Australia for the past 14 years.
Maintaining a network of nearly 11,000 physicians, the company provides behavioral and medical care that meets the needs of nearly 250,000 patients. Reflecting a sustained expansion mandate, CCS was recently selected by Bridgewater State Hospital in Massachusetts as its new provider of male forensic psychiatric-facility services.
This move was described as being part of a reform process designed to ensure that the criminally sentenced population receive a higher level of clinical care. Officials are focused on increasing care for individuals with serious mental issues within housing units, rather than in an intensive treatment unit setting. Through contracting CCS, they are also seeking to increase the number of trauma informed, clinically trained staff members on hand to ensure that patient needs are addressed in a competent and compassionate manner.
For more than a decade, Scott Sohr has been helping companies in a variety of industries grow and become successful. The president of STS Ventures, an incubation company focused on supporting success-driven startups, Scott Sohr possesses a great deal of experience in finding talented individuals and placing them on the right teams.
Creating effective teams plays a key role in business success, but sometimes it is difficult to tell when a team is working well. Here are some of the signs of an effective team:
– An effective team understands a goal and shares a commitment to accomplishing that goal. This shared dedication keeps the team from becoming distracted by negative comments and helps everyone stay focused.
– Working on a team means supporting all teammates. Team support is what sets people apart as a team rather than a group. Effective team members support one another in difficult situations and trust one another’s skills.
– Conflict is a natural part of working with others, but good teams discuss and solve conflicts openly without losing sight of their goal. Even when conflicts cannot be resolved, effective teams can continue working together.
– High-performing team members care about one another and form positive relationships. Since team members spend so much time together, they develop friendships without sacrificing productivity.