Are you feeling beat up about recruiting your next great hire? Does it seem like there just aren’t any qualified candidates out there to come and work for you?
What if there was another way to approach recruiting that could immediately change all that?
In today’s powerful information-packed video, I’m being interviewed by my friend and colleague Kyle Hunt with “Remodelers on the Rise” where I share with you strategies that the most successful contractors use to find and recruit great people to their teams.
It doesn’t matter how large or small your business is either! This is some of the most overlooked, simple common-sense stuff you can start doing right now in your recruiting efforts.
Check it out, and I encourage you to also check out Kyle’s podcast “Remodelers on the Rise” – it’s full of great tools and resources to help you better market and grow your contracting business.
A word of caution… if you think selling more work at a lower profit margin is the key to growing a more successful profitable contracting business, think again.
The truth is, that strategy can actually bankrupt your contracting business!
When my new client Sandy first called me, he was very frustrated by the fact that while his revenue had grown by over 30% in the past year, he went from making a solid profit to losing a lot of money.
When we began to dig deeper, it was apparent that he’d taken on larger projects that were priced with a margin that wouldn’t even cover his overhead. (A very common mistake that happens when you miscalculate your OBP).
At first, Sandy wanted to argue with me that “other contractors who do work of this nature only have those kinds of margins, and they are very successful.”
I could appreciate Sandy’s frustration. What I shared with him, and what I’m sharing with you in this video is why that strategy didn’t work, and what to do differently going forward.
There was a critical number that Sandy didn’t understand and that a lot of contractors actually don’t get right that was absolutely killing his profits.
Check out today’s important video to make sure you aren’t making the same profit-killing mistake in your contracting business!
The one number you want to make sure you GET RIGHT is your OBP (Overhead Breakeven Percentage) – It’s the one figure that will make or break your business. Use this powerful free tool to find the right calculation.
You’re busy and would love to have a little more time in your day. Time to catch up, time to put attention on what’s next, and time to just stop for a bit and re-group.
Just about every day I hear this from my construction clients.
While my pal Kyle Hunt with Remodelers on the Rise and I were chatting a few weeks back about this, he had some awesome suggestions for how you could protect your time while building and managing the pipeline that I just knew would be helpful to you! In our interview, he shares some solid strategies and resources for helping you get your time back. Check it out.
Do you ever worry whether there will be enough cash in the bank to pay your taxes, meet that next payroll, or buy those new computers or equipment you need? Do you wish you had a ‘blueprint’ that lets you have more peace of mind about the financial health and cash flow of your contracting business?
This week’s video will give you the blueprint for how to do just that!
ALSO, you’ll get a FREE guide (read blueprint) with benchmarks and construction industry standards that will show you how to use your profit & loss and balance sheet as a powerful management tool and get more control over your profits and cash flow!
Have you ever wondered what your competition is making in profits? Do you ever wish you had a better way of measuring the financial success of your contracting business?
This week’s video will give you those answers and show you how to use your profit and loss statement as a powerful tool to build a more profitable contracting business.
ALSO, you’ll get a FREE guide with benchmarks and construction industry standards that will show you how to use your profit & loss and balance sheet as a powerful management tool.
This is a unique opportunity to get insight into how to build a more profitable contracting business – so don’t miss out!
Get your FREE Financial Benchmark Guide for contractors. In this guide, you’ll learn not just how to read your financial reports and use them as a powerful management tool, but also provides benchmarks to compare your results against.
Are you ready for 2022 to be your best year ever? This week I’m sharing a fun exercise I do with my clients that kicks off the year and sets the foundation for great success.
This is a fun and easy exercise – check it out!
Each year I do this really cool process with my clients (and for myself) that kicks off the year in a great way. In this two part series I’m sharing with you what we do.
What’s really neat is that I’ve seen how this process has created amazing results for the contractors I work with – and it will for you too.
Building a profitable contracting business is just like building a successful project – it begins with a blueprint and plan that outlines what you want the end result to look like. And just like bidding a project starts with the end in mind, so does building a budget for your business.
In today’s video, I walk you through how to build an operating budget, that includes benchmarks for what a successful remodeling business wants to have in net profit margins and cash reserve goals.
You’ll also get my free Budget Goals Worksheet guide to help get you started!
p.s. If you want more tools to help you increase the profits in your contracting business, check out my book, ”The Profit Bleed – how managing margin can save your contracting business”. For a limited time, it’s FREE – you just pay for shipping and handling.
In this past year, I’ve seen so many contractors who have reacted to the demand of the remodeling market, worked super hard to keep up the pace, but have not experienced a corresponding increase in their profits.
While the PPP money helped with cash flow, and maybe even still has your bank account looking good, we all know that when that cash runs out, you’ll still have to contend with lagging profits.
So how can you get in control of and be more intentional about the profitability of your contracting business?
That’s what today’s video is all about!
If you’re ready to get intentional about your profitability, grab my easy-to-use Budget Goals Worksheet guide to get you started.
If you want more tools to help you increase the profits in your contracting business, check out my book, ”The Profit Bleed – how managing margin can save your contracting business”. For a limited time, it’s FREE – you just pay for shipping and handling.
If you want to make more money and have more peace of mind in running your contracting business, then watch this video.
More than anything else I do with clients, teaching them how to interpret the story their numbers tell is the #1 DRIVER in helping them increase their profitability!
Having worked with hundreds of contractors for the past 25 years, I’ve learned that there are a handful of numbers that are the key drivers to your profitability and success. Yes, I know construction can be complicated, but if you can understand the key numbers to pay attention to that drive your success, then you can have more control over the outcomes.
In this video, I walk you through a real example of what numbers you want to look at, and how to interpret and use that information to your advantage in making a consistent profit on projects.
In my next video, we’ll dig into planning for profits, which moves from looking at historical information to planning for the future.
Until then, I have a free resource to help you know the one CRITICAL number that will make all the difference in being able to generate a consistent profit in your business. My Overhead Breakeven Percentage Calculator will give you the formula for figuring out what your overhead breakeven percentage is. (hint: It’s not the percentage that’s on your profit and loss statement.)
P.S. If you want more tools to help you increase the profits in your contracting business, check out my book, ”The Profit Bleed – how managing margin can save your contracting business”. For a limited time, it’s FREE – you just pay for shipping and handling.