Mon, 8 January 2018
Get control of your cash flow - Maximize revenue - Sell better to sell more - Maximize personal productivity - Increase crew productivity...
These are a few of the Top 10 Things you can do if you own or manage a construction business, to make this the best year ever.
Here are the Top 10 Ways to Make This the Best Year Ever:
#1. Get control of your cash flow
- Poor cash flow is not a problem...it's a symptom of other problems.
A few strategies to improve your cash flow include...
- Reduce "opportunity cost."
- Figure out "invoicing gymnastics" to speed up payments
- Eliminate "ticket starvation" to make sure you get paid for 100% of the work you do.
#2. Maximize revenue
- Your business is a revenue generating machine that turns days into dollars.
A few strategies that will help you maximize revenue include...
- Identify your key revenue producing activities
- Figure out who your key revenue producing employees are
- Eliminate, Automate and Delegate
- Operate with a "Right to Left" mentality
#3. Sell better...to sell more
- Understand the psychology of selling.
- Learn how to talk to customers about THEM...and not YOU.
- Get over your mindset issues related to selling
- Put systems in place
#4. Maximize personal productivity
- Only do what only you can do.
- Outsource, delegate, automate, and eliminate
#5. Increase crew productivity
- Over invest in planning your work
- Understand how to motivate your people
- Create systems and processes to help them operate at peak efficiency.
- Help them make you more money
#6. Recruit and hire to build your business
- Determine the right time to hire.
- Create a job description.
- Find qualified candidates.
- Know how to interview them and find out the right information.
- Figure out a compensation package.
- Training and on-boarding process so they succeed.
#7. Harness the power of effective delegation
- You need to build leaders to grow your business.
- Stop being a micro-manager...just stop it!
- Get past the mindset issues preventing you from delegating.
- Learn how to be "end result" focused, instead of "how to" focused.
#8. Master the art of handling conflict
- Unresolved conflict is a productivity killer, causes lots of good people to go work elsewhere, and is a leading cause of business failure.
#9. Sharpen your planning skills
- Lincoln said, "Give me 6 hours to chop down a tree and I'll spend the first 4 hours sharpening the axe."
- Get better at planning for strategic business decisions, hiring, safety, revenue, profit, staffing...everything.
- Planning is solving problems in the future, before they happen.
#10. Learn how to build systems
- A business consists of a lot of repetitive tasks that need a consistent process in order to get consistent results.
- Many business activities are about the transfer of information, and you need to build consistent systems for doing so.
- Systems for time tracking, change orders, sales, training, and invoicing, are all key to building your business.
The Good News:
First - These are all skills that you can learn.
Second - The Construction Business Accelerator is designed to help you with all of them.
Your BEST YEAR EVER.