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Category: Increasing Your Profits

Great Leaders in Construction: A Chat with Dolores Davis

by | Sep 27, 2023 | Increasing Your Profits, Building Great Teams | 0 comments

Today, we’re continuing our series on leadership, and I’m excited to present you with a unique opportunity to gain insights from one of the industry’s most respected leaders, Dolores Davis of CG&S Design Build. Like you, Dolores has navigated the highs and lows of running a business in the Contracting field. She’s been gracious enough to share her story, her challenges, and her victories. I can’t wait for you to benefit from her hard-earned wisdom.

Why This Matters to You:

  • Real-world Experience: You’re not alone in the challenges you face. Other leaders have been there, done that, and come out stronger. Dolores’s insights are a roadmap for your success.
  • Practical Tips: No theory, just solid, down-to-earth advice from Dolores about what has helped her build a successful design-build business. This is the kind of guidance you can apply right away.
  • Inspiration and Motivation: Sometimes, we all need a boost. Hearing how others overcame obstacles and reached their goals can give you the encouragement to keep pushing forward.

What You’ll Get:

I’ve thoroughly enjoyed my time interviewing these industry leaders, especially this recent conversation with Dolores. I’m confident you’ll find immense value in hearing her story. Here’s a sneak peek at the invaluable insights that await you:

  1. Overcoming Struggles: Every leader faces struggles, but they find ways to break through. Learn the strategies that worked for Dolores.
  2. Building Better Businesses: Get a behind-the-scenes look at how Dolores made her company thrive. Discover the keys to her success.
  3. Enhancing Personal Lives: Running a successful business isn’t just about profits; it’s about creating a fulfilling life. See how Dolores has done just that.

I’m excited to share this conversation I had with Dolores with you. It’s not just information; it’s a chance for you to take your business to the next level.

Don’t just take my word for it; hear from those who have walked the path before you.

Great Leaders in Construction – A Chat with Peter Lau

by | Sep 20, 2023 | Increasing Your Profits, Building Great Teams | 0 comments

Leadership is not just a word; it’s the core of any successful business. Especially in the contracting industry, where every decision and move counts, leadership can make or break success.

In today’s episode, I’m interviewing Peter Lau with Forde Mazzola Associates, where we delve into what has shaped him as a leader, and what he holds as the “cornerstone” of how he successfully manages and guides his team.

Real Stories, Real Impact

I’ve had the pleasure of interviewing some of the industry’s most respected figures. Their stories are not mere anecdotes, but lessons packed with tips and ideas to help you build a better business and lead a better life.

  • Fun and Insightful: These interviews were more than enjoyable; they were enlightening, revealing valuable lessons that you can apply today.
  • A Shared Journey: We’re all in this together, learning from each other. By sharing these interviews, we grow as a community of contractors, helping each other achieve greater success.

The Next Story Awaits

Now, I’m excited to jump in and share the next story. It’s a real gem, filled with insights that could be the difference-maker for your business. Click on the video below, listen intently, and think about how you can apply these lessons in your own journey.

Conclusion

Fellow contractors, the road to success can be a lonely one. We can learn from each other, grow together, and build businesses that not only survive but thrive. Don’t miss this exclusive opportunity to hear directly from those who’ve made it. Watch the video, use the insights, and share it with others who can benefit.

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Ready to Plug Those Profit Leaks? Here’s How!

by | Aug 30, 2023 | Increasing Your Profits, Building Great Teams, Improve Employee Engagement, Increasing Production Efficiency | 0 comments

We’ve just wrapped up our eye-opening series on “Plugging the Profit Leaks in Your Contracting Business.” If you’ve been following along, you’ve got a clear picture now of the blind spots that can suck the profitability right out of your operations.

But knowing is only half the battle, right?

Now, let’s get down to the brass tacks. I’ve assembled a set of rock-solid, FREE tools designed to do one thing—help you identify and plug those pesky profit leaks in your business. This is about turning insights into real, tangible action.

In this video, I walk you through the two steps that will provide you with a clear roadmap for where to begin, and then provide the tools to move forward.

  1. Your Business Health Assessment – A Detailed Overview

Take the time to evaluate key areas of your business using my FREE “Business Health Assessment” tool. This tool allows you to rate vital areas such as marketing, estimating, production, sales, finance, and project management, helping you identify where profits may be leaking.

🔗 Access it FREE at: https://suiterbusinessbuilders.com/business-health-assessment2/

  1. “The Profit Bleed” – A Must-Read Book (FREE for a Limited Time!)

I’ve written a book that delves into the areas of your business where managing margins can make a significant difference in your bottom line. Told through a story of a contractor’s journey, it offers practical insights and actionable recommendations.  AND, it includes a number of proven, no-cost, tools, and resources you can download and use right away.

🔗 Secure your copy: https://theprofitbleed.com/free

Your Path Forward:

Here’s how you can get started:

  1. Assess Your Business: Use the free tool at https://suiterbusinessbuilders.com/business-health-assessment2/ to understand where you might need to focus.
  2. Learn from Experience: Get the free book at https://theprofitbleed.com/free and apply the insights.

Time to Grab the Reins of Success

Drawing from three decades of working side-by-side with contractors like you, these resources are crafted to equip you with the precise insights you need to bolster profits and relish the work you do.

Don’t let this chance slip away. Dive into these tools, implement the strategies, and begin forging a path toward a thriving and prosperous business.

Plug Profit Leaks & Master Cost Control – Exclusive Insider Interview!

by | Aug 23, 2023 | Increasing Your Profits, Get Confident in Your Numbers, Building Great Teams, Increasing Production Efficiency | 0 comments

Today’s video is the grand finale of our “Plugging the Profit Leaks” series, and we’ve saved the best for last!

Get ready for an enlightening interview with Aaron Gordon, a seasoned general contractor with over 20 years of experience in the construction industry. In this episode, we’re diving deep into the crucial topic of how to control project costs and meet those bid-day profitability goals. You won’t want to miss this powerful finale!

In the fast-paced construction world, project costs can spiral out of control, causing headaches and lost profits. With Cost to Complete (CTC), you gain real-time insights to spot and address potential cost issues early on, allowing you to make smarter decisions and maximize profitability.

When you implement CTC, you’ll have found the secret to plugging the profit leaks on jobs and discovered how to build a stronger team, and a more profitable business.

Picture yourself confidently communicating with clients, backed by accurate budgets and a clear understanding of your project’s progress.

In this interview, Aaron shares his own journey with CTC, and trust me, his experience will hit home for you.

If you’re looking to take your operations to the next level, boost profitability, and build a thriving contracting business, this is the interview you don’t want to miss!

At the end of this video I’m sharing a special offer to get my book, “The Profit Bleed – How managing margin can save your contracting business” for FREE – you just pay shipping & handling.  Why am I offering the book for free? Because I REALLY want you to have all the tools you need to generate HUGE success in your contracting business!

The book is not just another generic guide; it’s packed with real stories of contractors who faced and conquered the challenges of building profitable businesses. Inside, you’ll discover valuable insights, tips, and strategies to achieve bid-day profitability goals and build a thriving contracting business. AND, there are lots of proven tools and resources you can get at no cost to help you implement your learning!  Download links are in the book.

Watch the video and grab your copy of “The Profit Bleed“ now and see how you can take control of your bottom line.

Claim your FREE book now and start building a brighter future for your business! Just cover the shipping and handling, and let the journey to success begin: Go here to claim your copy: https:/theprofitbleed.com/free

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Project Schedule Essentials to Eliminate Profit Leaks

by | Aug 16, 2023 | Increasing Your Profits, Increasing Production Efficiency | 0 comments

​Welcome to another episode of our series on plugging the profit leaks in your contracting business. Today, we’re diving into the heart of one of the often-overlooked yet essential aspects of project management: Project Scheduling.

I recently had the pleasure of chatting with Robin Beauchamp, the scheduling guru, about how proper planning can be your ticket to smoother operations and more profits on your bottom line.

Stick with me through this post, and Robin will share some straightforward insights and tools that can help you approach scheduling with confidence. It’s all about making your life easier and your projects run smoother.

Introducing Robin Beauchamp

Robin’s been in this business for 30 years, and he knows the ins and outs of construction scheduling like no one else. I had him on the Profit Builder six years ago, and I just had to bring him back. Why? Because scheduling isn’t just some tedious task you have to do for clients. Robin believes – and I’m right there with him – that it’s something that can make a massive difference in your life as a contractor.

Scheduling as a Time Saver

Some folks see scheduling as a ‘have-to’ rather than a tool to make life easier. But scheduling can actually be a huge time saver. It can keep you on track, help you avoid losing money on jobs, and make your projects run smoother. Sound good, right?

How Scheduling Works

Robin described the process beautifully:

  • Break down the project into all the line items included in the project.
  • Assign a duration to each one.
  • Link them logically.

Sounds like a lot of little guesses, but when put together, it’s one big, accurate guess. That’s the start of being able to plan ahead more effectively!

The Benefits of a Solid Schedule

Robin likens running a project without a schedule to building or renovating a home without a blueprint or schematic – it would be pure chaos. He emphasized that scheduling allows you to:

  • Stop trying to track all the pieces in your head and then have things fall through the cracks.  Instead, you know what needs to happen and when because you have it in writing!
  • Plan efficiently because you know what’s coming in front of you.  No more last-minute emergency orders of materials that were forgotten, or subcontractors not scheduled in time.
  • Have a way to hold all stakeholders – architect, designer, homeowners, and subcontractors – accountable to an agreed-upon plan.  Robin does a great job explaining how to do this!
  • Create a plan for managing projects well – and then you avoid working 10-12 hours a day, putting out fires!

Investing Time at the Front End

Robin made an essential point that struck me: a project that flows better at the back end requires more time at the front end. Planning and scheduling can save you from aggravation, heartache, delays, and even financial loss.

A Weekly Practice

Robin suggests a discipline that can really help you – updating the schedule once a week. This enables you to stay in front of what’s coming and act rather than react.

Wrap-Up

Scheduling isn’t just a hoop to jump through or some tedious task. It’s a game-changer, a real tool in your contractor’s toolkit that can smooth out those projects and put more money in your pocket. Think of it as a roadmap for success.

Robin’s wisdom? It’s more than words; it’s decades of hard-earned experience ready to be put to work for you. Take it, apply it, and watch your business transform.

Now, don’t just take my word for it; click on that video below. Watch Robin and I get down to the real nuts and bolts of it. Share your thoughts, share the video with your crew, and let’s turn construction scheduling into your path to success.

Plugging the Profit Leaks: Financial Statements Made Simple

by | Aug 9, 2023 | Increasing Your Profits, Get Confident in Your Numbers | 0 comments

Welcome back to our series, “Plugging the Profit Leaks in Your Contracting Business.” Today, we’re tackling the mystery of financial statements. They might look like a puzzle of numbers, but they hold the keys to a successful contracting business.

In today’s video, we delve into two crucial financial tools: the Profit and Loss Statement (P&L) and the Balance Sheet – how to read them and use them as a powerful management tool!

The Profit & Loss is like a report card. It shows your income, expenses, and profit or loss over a year. Knowing how to read and use this report lets you have more control over the ROI of your operations.

The Balance Sheet, on the other hand, is a snapshot of your business’s value or worth from the time you opened your doors. Knowing how to read and use this report lets you have more peace of mind and ease around cash flow and when and how to have the financial resources available when you need them.

I understand financial statements can be daunting. But without them, you’re running your business in the dark. Understanding your P&L and Balance Sheet sheds light on your path to profitability, especially when you know how your numbers stack up to industry standards!

In this video, I break down these statements, pointing out potential red flags and providing you with a roadmap for how to read, interpret and IMPACT these numbers and the ultimate profitability of your contracting business!

And, in this video, I share with you industry standards for what kind of profit margins you want to be targeting in your contracting business!

At the end of the video, I share this powerful resource to help you evaluate your financial reports and see how your data stacks up against industry benchmarks – How to Read Financial Statements (with industry benchmarks)