The Cash Flow Contractor

Ready to kick off your construction biz in 2024? Join Martin & Khalil in this episode for some practical tips on starting your own construction business. They spill the beans on what works, what doesn't, and how to dodge the common pitfalls. Whether you're a construction pro or just dipping your toes, this episode’s got the lowdown to get your construction venture off the ground. Don't miss out – hit play!Time Stamps00:47 - Martin's Holiday Party02:29 - Starting a New Construction Business in 202403:37 - Go Do a Job05:11 - Build In Margin05:52 - Pay Attention to What You're Doing06:46 - Understanding Customer Needs and Asking for Feedback07:50  - Define the Scope of the Project & Stick to It08:31 - Pay Attention to What You Enjoy Doing09:15 - Avoid Buying Things You Do Not Need11:09 - Don't Take a Loan Out11:52 - Secure a Deposit Before Getting Started12:30 - Don't Take a Draw in the Job13:57 - Don't Overpromise14:22 - Track the Customer's Funds15:22 - Final Thoughts and Advice for Aspiring Entrepreneurs17:25 - Episode OutroQuotable Moments from the Show"Go get a job. Go pour a patio. Go build a pergola. Go get it done. And then you start to understand where all the things that you hadn't really thought about rear their ugly head." - Martin Holland"Some things happen gradually. Don't try to speed through time and fast forward. Do it step by step." - Khalil Benalioulhaj"If you're gonna go do that job, charge more than you probably think initially." - Khalil Benalioulhaj"Don't wind up coming out the other end and not have learned anything." - Martin Holland"You don't add any value. You add cost. Your customer either determines there's value there or not." - Martin HollandReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Take advantage of essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

In the heat of day-to-day operations, it's common for contractors to put financial management on the back burner. However, neglecting the books can have far-reaching consequences beyond dollars and cents. In this episode, Ruth King, well known as the “Profit and Wealth Guru”, joins Khalil and Martin to discuss profitability and the role of accurate and timely bookkeeping in making informed business decisions.Time Stamps01:38 - Luca Pacioli & Bookkeeping04:26 - The Role of Bookkeeping to Contractors07:44 - Ruth's Entrepreneurial Journey and Business Ventures10:21 - The Role of Bookkeeping in Detecting Fraud15:12 - Revenue Generation15:38 - The Importance of Billable Hours in Construction18:08 - Calculating Billable Hours25:14 - Warning Signs of a Cash Flow Crunch27:45 - Challenges in Managing Inventory & Deposits31:21 - Understanding Deposits and Inventory Management35:23 - The Importance of Hiring Qualified Bookkeepers37:12 - How to Get Out of a Cash Flow Crunch39:37 - The Financially Fit Business40:40 - Signs of Financial Statement Inaccuracies42:03 - Using Software in Financial Management46:41 - The Foundational Role of Books50:28 - More from Ruth King52:17 - OutroQuotable Moments from the Show"In our industry, in construction, we generate revenue through billable hours. If you do not have a billable hour, you don't have revenue." - Ruth King"Decreasing current ratio should be the greatest warning sign to you that there is a problem with productivity. There's a problem with profitability. Figure it out or get help. One of the two." - Ruth King"It's [Bookkeeping] actually easier to do than all the technical stuff you learned. Period. It's just we weren't trained in it. We weren't taught it. We didn't take it in school." - Ruth King"I've been in business for 50 years now and I have never seen a business thrive without books. Ever." - Martin HollandReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesAIPB Bookkeeping Hiring TestNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Ruth KingRuth King’s WebsiteFinancially Fit Business Program Email Ruth KingContractor Cents PodcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

A single disappointed customer can create a big impact on your business's reputation. Learn how to handle negative reviews, harness the power of negotiation strategies, and showcase your commitment to customer satisfaction.Time Stamps00:45 - Episode Intro04:24 - Importance of Reputation and Referrals06:27 - Impact of Reviews and Personal Experiences09:01 - Handling Disappointed Customers and Negative Reviews09:49 - Identifying Ideal and Anti-Customer Profiles18:03 - Addressing Negative Reviews25:51 - Addressing Disappointed Customers in General29:21 - Understanding and Mirroring the Customer's Perspective30:11 - Chris Voss's Negotiation Strategies33:27 - How's Your Customer Service?38:07 - The Impact of Disappointed Customers on Employees41:09 - Understanding Customer Concessions47:05 - The Importance of Clarity and Expectations in BusinessReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Have Questions? Email usMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram

Have you ever wondered what makes the best salespeople successful? Why some people can get deals done and create opportunities over and over again? Karl Becker joins us to share his sales strategies and principles from his book 'Iceberg Selling’. It’s a refreshing conversation that will make you rethink your sales approach and your approach to business and life.Time Stamps01:34 - The Impact of Holidays on Business03:37 - Introducing Sales Expert Carl03:43 - Karl's Approach to Sales05:26 - Karl's Background and Journey into Sales08:03 - Applying Iceberg Selling in Different Sales Scenarios09:42 - The Concept of Iceberg Selling12:58 - Doing the Research14:32 - Setting Yourself Up For Success16:29 - Getting Clear On The Person's Iceberg18:05 - Repeat Back What You Said20:13 - Sales Misconceptions23:15 - Head Trash31:26 - The Lifetime-Value & Being-of-Service Mindsets41:06 - The Ownership and Drivership Mindsets44:18 - Challenges in Instilling Mindsets into Your Team48:20 - The Abundance Mindset50:57 - Uncovering The Needs of Your Sales Team52:42 - Challenges in Construction Sales57:35 - Setting Your Sales Team for Success01:03:14 - The Hat Trick01:05:38 - Karl Becker's Books & Contact Info01:08:16 - Episode TakeawaysQuotable Moments from Karl Becker"We only see about 10% of what's going on. You only see about 10% above the waterline. The other 90% is under the iceberg." "Selling is being of service." "Oftentimes I find that selling is really about communicating and helping people understand a new reality or move towards something that they want." "Selling isn't this manipulation thing. Selling is caring and helping people understand and giving them a path forward." "You are your own leader. It's up to you to make it happen."Ready to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Have Questions? Email usMore from Karl BeckerImproving Sales Performance WebsiteIceberg Selling Website“Iceberg Selling” Book “Set Up to Win” Book“Sales & Marketing Alignment” BookEmail Karl BeckerConnect with Karl on LinkedIn More from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram

Do you know how powerful your thoughts can be? Martin and Khalil address the five Cs of negative thinking, getting rid of these negative habits, and switching your internal narrative to one that shapes success. Stay tuned!Time Stamps00:37 - Setting Yourself for Success01:48 - Delegation and Task Management05:59 - Open-ended Tasks09:03 - The Impact of Our Thoughts13:39 - The Five Cs of Negative Thinking15:09 - Stop Complaining17:22 - Stop Criticizing20:33 - Reduce Your Concern21:20 - Stop Commiserating27:00 - Stop Catastrophizing31:19 - Flipping the Switch37:20 - The Role of Narrative in Shaping Mindset44:04 - Setting Positive Goals for Personal GrowthReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesThe Tim Ferriss Show, Ditch Your To-Do List and Do This Instead with Sam Corcos Need Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, InstagramHave Questions? Email usMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram

In this Thanksgiving special, Martin and Khalil share their thoughts on gratitude, the importance of personal touch, and how a business owner can show appreciation to employees and clients.  Listen in and celebrate thankfulness and the art of fostering genuine connections in both personal and professional spheres!Time Stamps00:19 - The Great Thing About Thanksgiving02:06 - Sharing Personal Gratitude02:25 - Appreciation for Work and Career03:32 - Gratitude for Community and Family04:43 - A Thanksgiving Advice for Business Owners07:02 - The Importance of Personal Touch in Business08:27 - Conclusion and Thanksgiving WishesReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, InstagramHave Questions? Email usMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram

Are you ready to get rid of your head trash and win the contractor fight? Tom Reber, performance coach, author, and speaker, throws actionable strategies to enhance your business and amplify contractor profitability. He also shares his insight on the importance of mindset, authenticity, nurturing existing customer relationships, and the benefit of putting oneself first to attain success. It's an episode packed with practical advice, sprinkled with Tom's noteworthy quips and analogies. Don't miss this insightful conversation!Time Stamps00:42 - Guest Introduction02:32 - Journey and Challenges in Content Creation04:50 - Behind the Scenes of a Successful Media Operation10:18 - Authenticity and Clarity in Business13:08 - Mindset and the Contractor Fight18:58 - Changing Your Mindset23:16 - Getting Honest with What You Want29:04 - Why Profit is Crucial for Contractors36:07 - The Importance of Building Connections with Customers40:00 - The Art of Winning Commercial Contracts43:07 - How Podcasting Can Help You Get Commercial Contracts46:55 - The Power of Honesty and Vulnerability in Business49:51 - The Key to Building Your Dream Team55:35 - The Role of an Executive Assistant in Business Growth01:00:01 - Strategies to Make More Money as a Contractor01:10:33 - There's Opportunity in Warranties01:13:13 - Connect with Tom Reber01:15:13 - Owning Your GreatnessQuotable Moments from Tom Reber"People buy for their reasons, not for your reasons." "The juice ain't worth the squeeze if you're not winning. ""I don't care what your profit goals are, I just think it needs to be a lot of money.""Stop giving a crap what the going rate is.""It's unethical to charge more and not deliver high value.""Until you start making money, and understand what it takes to make money, and who you have to become to make money, it's hard to respect people that have the money.""It's 70% easier to sell to an existing customer than it is to sell to a new customer."Ready to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, InstagramHave Questions? Email usMore from Tom ReberThe Contractor Fight WebsiteContractor Fight TVThe Contractor Fight PodcastWinning The Contractor Fight BookConnect with Tom on InstagramMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram

Unmask the SEO strategies that will elevate your digital presence to new heights! In this insightful discussion, Rich Harshaw, CEO of Level 10 Contractor, and a seasoned expert in the field, unveils the secrets behind effective Search Engine Optimization (SEO) and why engaging, relevant content is the key to success in the contracting world.Time Stamps00:15 - Episode Intro04:25 - Discussing Google My Business and SEO04:56 - The Role of Google My Business in SEO05:55 - The Journey of Level 10 Contractor08:15 - The Concept of Level 1011:46 - The Marketing Mindset13:03 - The Importance of Pricing in Business13:48 - The Philosophy Behind Brand Building14:52 - The Role of Identity in Marketing22:20 - Your Website's Conversion Ability27:25 - Why Does Organic Search Matter?29:03 - The Problem with Buying Ads From Google30:19 - Understanding the Role of SEO32:52 - The Importance of Service Area Pages35:27 - What Most People Don't Know About SEO36:26 - Geo-Keyword Pairs in SEO41:31 - The Critical Role of Content in SEO42:05 - Does "One-time SEO" Work?47:46 - Why Blog Pages Matter51:54 - How to Win the SEO Battle56:23 - Understanding the Long-Term ROI of SEO01:02:55 - The Importance of Engaging and Relevant Content01:07:10 - The 60:20:20 Rule in SEO01:09:38 - Web Page Dwell Time01:14:30 - Off-Page SEO & Link Building01:18:54 - Optimizing Your Google My Business Profile01:22:35 - Get in Touch with Rich HarshawQuotable Moments from Rich Harshaw"So there's three different, there's three different categories of scores on the website audit. One of 'em is conversion ability, which is a measurement of how well your site does at converting traffic into leads. Regardless of where that traffic came from.""You've gotta take the time to build the case. You can't assume that anybody knows anything. A website is a great opportunity to build your case.""Websites don't rank. Web pages do.""You've gotta look at the geo keyword pairs as the battles that you wanna fight.""Here's what makes all the difference in the world. It's the ability to create content that is actually engaging, interesting and relevant.Ready to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, InstagramHave Questions? Email usMore from Rich HarshawLevel 10 Contractor WebsiteRequest a Website AuditEmail RichCheck out the Level 10 Contractor Daily PodcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram

Your mindset can be your greatest asset or your biggest roadblock. It's time to stop letting self-doubt and fear hold you back from the projects you dream of. Join Martin & Khalil as they uncover the secrets to crushing head trash and unlocking your true potential as a contractor. Whether you want to increase your profitability, expand your business, or build more confidence in your work, this episode is for you.Time Stamps00:32 - Episode Introduction02:05 - Workout Routines and Gym Experiences04:08 - Personal Fitness Journeys06:23 - The Impact of Fitness on Mental Clarity and Personal Growth11:31 - Exploring Strategies for Employee Development and Retention15:53 - The Willing & Able Matrix17:50 - Letting Employees Go19:41 - Can Employees Change for the Better?24:57 - Pricing, Head Trash & Missed Opportunities31:13 - How to Distinguish Yourself From Your Competition37:07 - The Person of Trust39:14 - Exhaust the Low Hanging Fruit41:06 - Pain x Vision43:24 - Everything Begins with Mindset46:53 - Dealing with Your Head Trash & Limiting Beliefs49:43 - Creating Rules for Yourself51:33 - Knowing Your TruthQuotable Moments"I've never in my life ever left the gym feeling worse than I did going in, even when I hurt myself." - Martin Holland"The people that work hard, work hard, the people that don't, don't." - Khalil Benalioulhaj"If you're going to charge more than the competition, you have to give people a reason other than price to buy from you." - Martin Holland"The people that work hard, work hard. The people that don't, don't." - Khalil Benalioulhaj"I can do it all is actually a limiting belief." - Khalil Benalioulhaj"I'd rather talk to five designers and get 25 jobs, then talk to 200 do 200 bids to get 25 jobs." - Martin HollandReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, InstagramHave Questions? Email usMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram

Whether you're involved in construction & trades or in manufacturing, ensuring top-notch quality is paramount. One bad job can possibly break years of good and hard work! In this episode, Jacob Edmond, CEO of Duckworks Millwork Solutions, joins Khalil & Martin to discuss quality control, making checklists, and why it is critical to apply these things in your business today. Time Stamps00:32 - Episode Intro02:53 - Intro to Jacob Edmond04:02 - What is Quality Control?04:47 - When Do You Need a Dedicated QC Staff?07:54 - Why Does Quality Control Matter?09:54 - Customer Concessions & Quality Control14:19 - Common Areas Needing Quality Control in Manufacturing20:34 - The Cost of Quality23:41 - The Importance of a Checklist31:57 - Quality Control Metrics37:44 - Gaining Insights From Your Employees40:45 - Implementing Checklist & Quality Control56:47 - Episode Outro & TakeawaysQuotable Moments"My dad used to always tell me, you can add cost, only the customer can add value." - Martin Holland"Quality control isn't just preventing mistakes, it's refining your process to prevent future mistakes and constantly reduce your mistakes." - Jacob EdmondReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesGet the sample checklists from Jacob Edmond hereNeed Marketing Help? We Recommend BenaliWatch On YoutubeFollow On Social: LinkedIn, Facebook, InstagramHave Questions? Email usMore from Jacob EdmondWebsiteVerify in Field: The Millwork PodcastLinkedInInstagramFacebookTikTokMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorAsk Us A QuestionSign Up For A Free Consultationthecashflowcontractor.com Email The Cashflow ContractorLinkedInFacebookInstagram