Chad Fraughton didn’t originally set out to build one of Utah’s top premier event production companies. He just didn’t want to stop chasing what he loved.

Today, Cornerstone Technologies produces over 800 events a year, with budgets that have exceeded $25 million, and a client list that includes some of the biggest names in entertainment, sports, and technology. 

But the story of how Chad got there didn’t start with a solid business plan. It actually started with a college football injury and a late-night security job. 

That and a refusal to give up on a dream everyone told him wouldn’t pay off.

Now, 33 years later, Cornerstone Technologies has grown into a company with five sister businesses, 125 employees, and a reputation built on strong relationships.

How the Dream Began

To understand how Cornerstone got to where it is today, we have to go back to the beginning. 

In 1990, Chad was a college football player whose career had just ended due to injury. He made his way back home to Utah and started working late-night security to help pay for school. 

He had no roadmap and no destination in mind. But what he did have was a habit of showing up for people: cracking jokes, bringing treats, and making his coworkers feel seen.

One night, that habit changed everything. Chad had accidentally startled one of the executives, and that led to laughter and a genuine conversation. 

The man asked what Chad actually wanted to do in life. At the time, Chad’s answer was recording engineering, a path everyone had already told him would never work out.

To Chad’s surprise, the executive offered him a job in telecommunications. He saw something in Chad that he couldn’t see in himself. Eight months later, that job led to an opportunity that would define the next chapter of his life: joining a company think tank built to develop experimental technology. 

Chad was sent to the American Film Institute in Hollywood, where he was mentored by legendary audio design engineer Chips Davis, a man who had built recording studios for major names in the industry. 

From there, Chad helped build recording studios in Seattle during the grunge era, working with some of the most iconic bands of the ’90s.

In his own words, he said, “I’m living my dream. I manifested this, and it happened.” 

But after some time, the company was acquired, and everything changed again.

The Layoff Turned Opportunity

Chad, along with 20 other employees, was let go on the same day. He was in his 20s, but most of his colleagues were decades older, carrying mortgages and families into an uncertain next chapter. 

And, oddly, Chad became the group’s biggest cheerleader.

He didn’t sit still. In the months that followed, Chad briefly ran a concrete curbing business, then found himself rehired as a contractor by Bush Creatives. 

It was there that Chad learned the art and science of experiential design: how people move through spaces, how environments shape emotion, and how to build a moment that feels unforgettable.

But the company wanted him to relocate to St. Louis. Chad now had a family with two young children and deep roots in Utah. He wasn’t willing to leave. 

So he declined. And his next step was to polish an old idea he’d had sitting around.

He called his former mentor, Corinne Clark, and asked for 30 minutes of her time. He walked in with his idea to present to her: the company had millions of dollars in unused equipment sitting idle that could either be sold for pennies, or handed over to Chad.

He would use it to build a client base and continue the work he already knew how to do.

Corinne stopped him three points into his presentation. She only had one question for him: was there any downside? 

Chad told her no. So, she told him to write it up.

That single conversation became the foundation for what would grow into one of the biggest production companies in the country. 

In its first year alone, the company grew more than 400%. Funded not by outside investors, but by credit cards and Chad’s willingness to reinvest every dollar he earned right back into the business.

Building a Culture That Lasts

If you ask Chad what has made Cornerstone succeed for over three decades, he won’t say anything about strategy. He’ll start with its culture.

Regarding his team, Chad says, “You’re either Cornerstone for life or you’re there for one year or less… Either have it or you do not.”  

Many of his employees have been with him for more than 30 years, and he’s now watching some of them retire. It’s a milestone he describes with visible emotion.

Chad believes that good employees find him rather than the other way around. He’s built the company with almost no traditional business development, relying instead on the relationships that have spanned decades. 

It’s a philosophy he applies to clients and staff alike: create the right environment, and the right people will show up and stay.

That philosophy also extends into his family, quite literally. 

Chad’s nephew Clint joined the company and has become, in Chad’s words, the closest thing to a reincarnation of his own father. 

His son Cooper has built a strong enough reputation that clients routinely ask to hire him directly. 

His younger son Cody works as a creative on the team.

And his daughter Allie runs her own company, Curation Co, while still taking on project work for Cornerstone.

Chad acknowledges that nepotism is real in any industry. But not his. He holds his family to the same standard as everyone else, and the results speak for themselves.

Weathering the Storm

Cornerstone has a success story that speaks for itself. But it didn’t come without any hardship along the way.

In its history, Cornerstone has experienced five major transitions. However, none of them tested the company quite like COVID-19.

When live events came to a halt seemingly overnight, Chad didn’t panic. He went home and produced what was essentially a television program for clients, adapting decades-old production instincts to a moment nobody had faced before. 

The pivot worked. Cornerstone never missed a beat, and the software the team built during that stretch has since been sold to a company using it for NIL (Name, Image, Likeness) athlete programming.

That adaptability has carried into Cornerstone’s current era. The company now manages ongoing production at venues including the Delta Center and the Maverick Center. They also handle touring labor and production for concerts and non-touring acts across the region.

Lessons for Entrepreneurs

Chad’s story is full of leadership insights and offers plenty for anyone looking to build something of their own. Here are a few lessons you can take with you:

  • Take opportunities seriously, even if they seem small. Chad’s entire career traces back to a single conversation that turned into a job offer. He never took an open door for granted.
  • Reuse and reshape old ideas. The pitch that built Cornerstone wasn’t new. It was an old proposal from years earlier, reworked for a new moment in time.
  • Culture requires constant attention. Chad describes culture as the hardest thing to get right and the one thing you can never assume you’ve mastered.
  • Relationships outperform business development. Cornerstone has grown for over three decades, built almost entirely on trust and long-term relationships.
  • Adaptability is a competitive advantage. When COVID hit, Chad’s team was able to pivot within days because they had already lived through reinvention before.
  • Invest in people who show potential. Chad has built much of his team by recognizing talent early and giving people room to grow into bigger roles.

Looking Ahead

Cornerstone Technologies is entering what Chad calls its most significant transition yet. The company is moving deeper into experiential entertainment and hospitality. This includes its involvement in High Star Ranch, a new development that will feature a 200-room hotel centered around health and wellness.

Chad also points to a broader shift he sees coming across the events industry: a growing demand for permanent venues over one-time festivals, with an increasing focus on experience-driven branding. 

With the 2034 Winter Olympics returning to Utah, the company is positioning itself to play a central role in the years ahead.

Despite all the change, Chad’s outlook remains rooted in something simple. As industries evolve and technology accelerates, he believes people will crave human connection more. Not less.

He says, “We love a good story. We love friendship. We love humans. We love that contact with humans, and that’s exciting. I think that’s what life is for us more and more, just craving those moments.”

These are the moments that make life meaningful.

Want the full story behind Chad Fraughton’s journey?

Listen to the complete MountainWest Capital Network Podcast episode, where Chad shares his story of building his dream from the ground up.

[Listen to the full episode here →]

Apple: https://podcasts.apple.com/us/podcast/building-a-company-that-lasts-chad-fraughtons-33/id1818372923?i=1000791440930 


Spotify: https://open.spotify.com/episode/2w6ygTCfIMd8oFeOfu3V79?si=APgoh5ELR5WYRj2TGhh8cQ 

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