Sometimes, Ignorance is the Perfect Preparation for Running a Successful Business

The secret to Michael Kaeding’s success as the CEO of Norhart Inc., a company that designs, builds, and rents apartments, is that he had no idea how to run his family business when his father unexpectedly passed away.

“I had no preconceived notion of the way things were supposed to be done,” Mike recalls. “We just started to naively solve problems, and that was the magic.”

Norhart, headquartered in tiny Forest Lake, Minnesota, is booming. Because Mike has refined a process to save 50% or more over other residential developers, he tells host and award-winning author Dean Rotbart that he plans to expand his business nationwide and take a stab at solving America’s housing shortage and affordability crisis. 

Photo: Michael Kaeding, CEO, Norhart Inc.
Posted: February 27, 2023
Monday Morning Run Time: 46:02
Episode: 11.28