Contractor Evolution

To learn more about Breakthrough Academy, click here: https://trybta.com/PCEP87 To connect with Buildertrend click here: https://buildertrend.com/ If you listen to Contractor Evolution, there’s a good chance you’re not only an entrepreneur, but you are smart enough to understand that you’ll have big opportunities to cut your costs using software in the next few years. However, understanding what a software service does vs implementing it are two COMPLETELY different things. In fact, if you’ve tried getting your team to adopt new tech at some point already, it can easily lead to you wanting to fire everyone, quit the trades, and start a simpler business like building space stations. All joking aside, it’s not easy to embrace change, especially when it comes to tech. My guest on the show today is Brett Jones, a Key Account Executive of Data Solutions at BuilderTrend.   Over the last 3 years, Brett has done over 150 On Site Consultations helping builders, GC, and Remodelers implement BuilderTrend so that it functions at its fullest and delivers the highest possible ROI for the Entrepreneur and their team. To learn what Brett has observed about the builders that succeed in this area, vs those that don’t, listen to this episode. Episode Highlights: Why so much of the contracting industry hold their cards close and why that isn't working as a competitive advantage anymore The Profile of a strong tech implementer vs poor tech implementer (after implementation consulting with 150 Contractors) How the contracting industry has changed as a result of tech adoption and the big picture trends that will shape the industry in the next 10 years The impact of venture capital in the contracting market and how it’s changing the way contracting companies are being run Where Buildertrend is innovating in the contracting space and the big value they will be bringing builders in fintech Advice to young entrepreneurs for the next decade - where they should focus their attention for maximum results  See omnystudio.com/listener for privacy information.

To learn more about Breakthrough Academy, click here: https://trybta.com/PCEP86 To visit Check The Level accounting click here: https://www.checkthelevel.com/ To Join the ‘Job Costing and Bookkeeping for Contractors Only’ Facebook Group click here: https://www.facebook.com/groups/jobcostingandbookkeepingfocontractorsonly Have you ever wondered why the bookkeeping and accounting for your contracting or trades business is so challenging?   Well, there is a very real reason, and no it's not because you hated math in high school. A lot of it has to do with the fact that your project lifecycles and the cash inflows and outflows that happen therein don’t follow the gridded and calendarized rhythms of accounting cycles. They march to the beat of a different drummer (so to speak) and this can create all sorts of headaches and confusion when it comes to both your books and your bank account.   Our guest on this episode of Contractor Evolution is Leeroy Beeby, Co-Founder of Check the Level - an accounting, bookkeeping and software provider.  Check The Level was created for general and specialty contractors to master their pricing, profits, and cashflow. They do this through both managerial accounting as well as their proprietary reporting software.  What’s unique about Leeroy’s perspective is he has back-end access to the budgets, P&Ls, cash positions and pricing systems of hundreds of contractors all over North America and is able to see large-scale patterns in a way almost no one can. To dive into the common practices that are shared by the top 10% of contractors (as well as the common mistakes made by the bottom segment of contractors) listen to this episode. Episode Highlights: The difference between Financial Accounting vs. Managerial Accounting and why most firms won't do the latter for you (even though you really need it) The patterns that become evident when you look at 100's of contractors' financials, and what the top 10% are doing differently than the rest How the top 10% of contractors set up their sales contracts uniquely to protect their cash flow Why you need to be charging a higher markup on your change orders than your standard rates How to get your team involved in the financial performance of each job The typical profile for a financially 'at risk' contracting company See omnystudio.com/listener for privacy information.

To learn more about Breakthrough Academy, click here: https://trybta.com/PCEP85 To download Breakthrough Academy’s ‘Annual Strategic Planning Template’ click here: https://trybta.com/PCDLEP85 To Connect with Alex Brueckmann click here: https://www.brueckmann.ca/ It is strategic planning time here at Breakthrough Academy.  Our 500+ members are all reflecting on the year that was 2022 - the highs, the lows, the lessons…and they're using all of that to inform their visions for 2023. You should be too.   “Strategy” is another one of these terms that gets tossed around so much it loses some meaning.  Most entrepreneurs will make mental associations between strategy and other ideas like goals for the future, well-laid plans, or a list of priorities for the organization. But this still leaves a lot of room for differing interpretations and abstraction. This episode's conversation is with Alex Brueckmann. Alex is a Strategic Facilitator and the Author of The Strategy Legacy which comes out in 2023.   After 15 years of fine-tuning his philosophy and process in the corporate world, Alex now gives small to medium-sized businesses access to the tools and techniques that fortune 500 companies use to dial in their strategy and create the clarity and direction teams (large and small) need to get bought in and execute. To learn more about Alex’s 3 Do’s and 3 Don'ts of Strategic Planning, listen to this episode. Episode Highlights: The difference between strategy and tactics and why NOT to worry about tactics when planning at a high level Why celebrating small wins too early can sometimes hurt your momentum Why your strategy NEEDS to be tied to emotions, and how emotions propel results more than any other factor How to create a strategy that everyone will buy into, not just your leadership team Why you shouldn't force your plan forward when things aren’t working, and when it's ok to take a couple steps back How to leverage the power of writing to communicate your vision and deflect distractions See omnystudio.com/listener for privacy information.

To apply for Breakthrough Academy click here: https://trybta.com/PCEP84 To assess where you lay on the visionary/integrator spectrum, click here: https://rocketfueluniversity.com/assessments/ This episode is Part 2 of a 2 part conversation with Mark C. Winters,  co-author of Rocket Fuel and the foremost expert and Visionary/Integrator relationship.  If you haven’t listened to part 1 of this episode, go do that now. In part 1 of this 2 part conversation Mark and I focused on the dynamics between a Visionary and an Integrator. What wasn’t shared in that episode is that great Integrators are RARE. Mark and his team at Rocket Fuel University™ discovered there are 4 Visionaries for every 1 Integrator. Which means really good Integrators are hard to find…and even harder to keep. If you want to learn where to look for your integrator, and more importantly, the principles for keeping them happy and effective, listen to this podcast. Episode Highlights: Where to find great Integrators both inside and outside your organization The necessary 3 part process for successfully onboarding an integrator so they quickly earn team respect and don’t burn out. 5 Rules to follow to ensure a long term relationship thrives between the Visionary and the Integrator The way to maintain equality in the relationship even when it's not equal ownership The difference between Visionaries and “Idea People” and how the latter is not actually very beneficial to a company What happens when either the Visionary or the Integrator outgrow the role? How do you responsibly exit the relationship See omnystudio.com/listener for privacy information.

To apply to Breakthrough Academy click here: https://trybta.com/PCEP83 To assess where you lay on the visionary/integrator spectrum, click here: https://rocketfueluniversity.com/assessments/ The Visionary/Integrator relationship is one I hear a lot of business owners wrestling with.   Here is why - A lot of you likely fall on the visionary end of the spectrum. You have a head full of ideas and a heart full of passion. You took the entrepreneurial leap and gave birth to what would become the business you own and lead today. You saw opportunities where others didn’t and you have a natural ability to see what you COULD build. But here's the thing. Visionaries can wreck companies.  It’s possible to have too much vision, too many ideas. A Visionary can easily rip their team in a million directions or load them down with an unreasonable number of projects. Visionaries are also typically pretty terrible with holding accountability. And your business pays for that. The answer is to find an integrator.  BUT Just because you find an integrator, doesn’t mean your business will thrive. The Visionary/Integrator relationship is like a marriage.  And just like a marriage needs frameworks, habits, and methods of communication that will set it up for a shot at long term success, so does the relationship between a visionary and an integrator. Listen to this episode to hear from Mark Winters, the co-author of Rocket Fuel: The One Essential Combination That Will Get You More of What You Want from Your Business Mark shares the frameworks you’ll need to set up to successfully navigate the waters of one of businesses most powerful relationships. Episode Highlights: The visionary/integrator dynamic and why it can lead to friction or harmony depending on the relationship The character traits of the visionary and the integrator and why you typically won’t be both Why not everyone wants to be the visionary, and why the integrator role is so important The benefits to a business that has both roles as opposed to business that only has one or the other leading the team The amount of Visionary 'Juice' that a business needs and why a businesses will die when the have too much vision 4 ‘Readiness Signs’ a visionary be aware of  that will tell them it’s time to go and find an integrator See omnystudio.com/listener for privacy information.

To apply to Breakthrough Academy click here: https://trybta.com/PCEP82 To download the pricing calculator, click here:  https://www.bookkeepingacademyonline.com/pricing-calculator Other Links Mentioned In This Podcast: https://likesaccounting.com/ https://www.bookkeepingacademyonline.com/ https://jefflikescleanwindows.com/ http://profitstofreedom.com/ http://adminbootcampadventure.com/   Let’s say that I give you a challenge. I tell you that you need to triple revenue in your business in 1 year…and if you can’t, I get to take it from you. You’re probably already thinking, “How do I ramp up EVERYTHING by 3X? It’s TOO MUCH.” Yeah…maybe you could pull it off, but it wouldn’t be easy…or fun. Okay pause. Now what if I told you that there’s a way to accomplish your 3x revenue growth simply by moving 3 VERY SPECIFIC levers forward by 5%,10% and 20%. That’s it. Just the 3. Nothing else. And the lever you need to push by 20% can be moved overnight by sending 1 email with guaranteed results. It’s not a pipe dream. When you see it and you run the math you realize it’s entirely possible. It will blow your mind how easy it can be. Meaghan Likes, a Home Service Company owner and Certified Public Accountant figured this magic formula out and shares it with us in this episode of Contractor Evolution. Would you like to know what the 3 levers are? Then listen to this full episode for all the details. Episode Highlights: The real reason so many entrepreneurs avoid talking to their accountants and how to approach your accounting in a new mindset Why tracking Average Job Size (AJS) is so important and how to increase your AJS overnight How much you need to be raising your prices, when to do it, and why you should feel ZERO guilt about it If you have a poor Sales Ratio here’s what you can change in your customer experience that often corrects the problem The most common reason for high lead slippage, and how to train your team to reduce it in a day How to easily 3x your company revenue in a year with 3 simple moves in AJS, Sales Ratio, and Lead Slippage. See omnystudio.com/listener for privacy information.

To apply for a Breakthrough Academy Business Assessment click here: https://trybta.com/PCEP81 Find the dripjobs CRM Here:  https://www.dripjobs.com/ If you’re ambitious and always looking for an opportunity, you might have thought about building a software product to ‘fill a gap’ in your business. You hear this story on podcasts, or youtube videos…maybe from a friend. Some contractor out there got frustrated with a lack of software in their business and they decided to do something about it. They decided to build it themselves. And then became bajillionaires. But is it really that easy? To find out, we invited Tanner Mullen of Dripjobs to share the realities of building a software company while still running a painting business. If you’d like to learn more about the SaaS building process, managing multiple companies, and how to sell your software, listen to this episode. Episode Highlights: How to train your team to manage the client so you free up your time for other things How to manage your calendar when you're running 2 businesses and a family The process of designing a CRM with programmers when nothing else seems to fit your business model Tactics that work to gain the sales advantage when pitching a SAS product from a successful salesman turned contractor What a 'Unique Mechanism' is, and why most contractors are not using it to their advantage  What Tanner wishes he knew when he started both of his businesses See omnystudio.com/listener for privacy information.

To apply for a Breakthrough Academy Business Assessment click here: https://trybta.com/PCEP80 Download the 5 tips for keeping your trades and contracting business secure https://trybta.com/PCDLEP80. Cyber security is something for tech companies, banks and nerds to worry about right? Yeah, in 2010 maybe, but not anymore.  There has been a STEEP rise in the number of attacks on small businesses the last few years and contractors are a prime target for hackers. Why?  Because in the trades we work with big chunks of cash AND most of us haven’t made the time to put cyber security as a top priority. To a hacker, we’re the prime target. Listen to the full episode to learn more about why you might be vulnerable, what hackers are after, and how to protect yourself. Episode Highlights: What is going on high level that is leading to an increase in cyber security breaches in the contracting community The assets of value that hackers are looking for in a typical contracting company and how to protect them The most common threats and attacks you’ll be targeted for as a contractor What it costs you to buy security vs pay for damages The 4 stupid things most business owners do that leave themselves open to hacking How to tell if a software has legitimate security measures in place See omnystudio.com/listener for privacy information.

To apply for a Breakthrough Academy Business Assessment click here: https://trybta.com/PCEP79 Download your free resources for Project Management Secrets for Rapid Growth here: https://trybta.com/PCDLEP79 A couple months ago we did a Project Management Roundtable with some of our highest performing members in the construction space.   It was so popular and well received we thought we would release it as a Contractor Evolution episode. As you no doubt have experienced, most (but not all) Project Managers in construction and trades are professional firefighters.   This is a problem.   Under equipped PM’s burn themselves out and eventually hurt morale, but more importantly mismanaged jobs can make or break our year end P&L’s.   So we put together a live roundtable with Greg Hasler of Hasler Homes and Iain Kent of Eagleview Construction where we discuss their evolution story from chaotic to dialled in. We dove into the systems that have made the biggest difference, and the personality profile of a rockstar PM as well as where you might find one.   Episode Highlights: 3 PM 'Red Flags' that will tell you things can be improved on What makes a great PM (from the perspective of highly effective contractors) How to hold PMs accountable to the results they were hired to achieve in your business (including which KPI’s you should be tracking) The number of jobs should your PM's be able to manage at one time The PM qualifications you should you look for and where to send PMs to learn proper PM systems for your business The best way to keep your field crews (and your subs) engaged with the PM systems and actually filling out daily logs (spoiler - yes, it is possible) See omnystudio.com/listener for privacy information.

To apply for a Breakthrough Academy Business Assessment click here: https://trybta.com/PCEP78 The Discount Code for 10% off Gembadocs is BTA10. Download the app or visit https://gembadocs.com/ to start your FREE 30-DAY TRIAL! Also, get Tom’s book for free in multiple formats at https://improvementstartswithi.com/ If you don’t have clear SOP’s (Standard Operating Procedures) for all the things you do in your business you’re in trouble.  Here’s why:  - You won’t be able to scale  - You can’t take a vacation  - You can’t promote anyone on your team  - It takes FOREVER to train new staff  - You field a million questions everyday that suck your time  - You’ll never be able to take a step back from operations …the list goes on  Not having clear SOP’s is why your business is a mess. BUT if you don’t have them, it’s not your fault. Because no one told you where to start, how to create them, how to have your SOP’s evolve with the business or WHO IN THE HELL would be creating all of these things? However, now all of your obstacles are irrelevant. Someone has figured out how to get around all those challenges and more. His name is Tom Hughes and he’s going to open your mind to the possibility of SOP’s that are highly effective and practically create themselves. To learn Tom’s brilliant approach to these age old challenges, listen to this week's episode. Episode Highlights: The reason why you can’t predictably grow a business without SOP’s How much value SOP's will give to the sale price of the business and peace of mind to the owner The 3 keys most owners miss when implementing SOP's that lead to a giant waste of time and money How to foster ownership and buy-in from the team by implementing bottom-up rather than top down SOP creation How to put SOPs at the point of use to make sure they actually get used instead of collecting dust Lastly, how to make the update process easy so that your SOPs grow with your business instead of falling out of date See omnystudio.com/listener for privacy information.