The Construction Leading Edge Podcast

EPISODE 315: How clear are you on your strategy to be successful over the next twelve months?

In this week’s episode, I’ll share three valuable business-building lessons that you can learn from Lockheed P-38 Lightning, a.k.a. the U.S. fighter plane that won WW2, and how you can apply those lessons in your construction business.

We’ll discuss how to determine what you really want for your business, the process of creating a vision and delegating results, what it looks like when you have clarity in business and more.

Let’s jump in!

 

Key Takeaways:

Introduction (00:00)

The birth of the Lockheed P-38 Lightning (02:15)

Business lesson #1 (05:12)

Ask yourself what you want (07:08)

How to determine what you really want (10:35)

Business lesson #2 (12:15)

Creating a vision and delegating results(15:25)

What does a good handoff look like? (16:46)

How to nail the handoff (22:37)

Business lesson #3 (28:21)

Questions to consider when developing a business strategy (29:02)

How to have clarity on your plan for the future (32:51)

 

Additional Resources:

- Download our FREE strategic planning guide HERE

- Schedule your business evaluation call with our team HERE

- Listen to my interview with Wes Palmisano HERE

- Hear our clients' success stories HERE 

- Visit Construction Leading Edge for more information HERE

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The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.

Follow us on your favorite podcasting platform so you never miss an episode!

 

Direct download: CLE315_-_Podcast.mp3
Category:general -- posted at: 5:00am EST

EPISODE 314: Are you losing money even if your job cost reports look profitable? Then, you could have fallen into a bad financial trap that most construction CEOs fall into.

In this episode, I sit down with Luke Holcomb, operations manager at Apparatus Contractor Services. Apparatus is a bookkeeping firm that helps construction business owners get their financial systems in place and optimize them.

Today, Luke and I discuss some of the financial misconceptions that construction business owners have, the common problems that arise from them, and how crucial it is for CEOs to start understanding their finances.

Luke also shares why and how you could lose money from your construction business, even if your reports look profitable, and what it looks like when you finally have your financial system in place.

Let’s dive right in!

 

Key Takeaways:

Introduction (00:00)

Meet Luke and how he got into business finance (03:30)

Financial misconceptions construction business owners believe in (06:28)

The fear of managing business finances (14:26)

When is the right time for a CEO to start managing finances? (18:41)

Common problems from believing in financial misconceptions (24:48)

How crucial is job costing (28:55)

Critical financial statements CEOs should be looking at (32:31)

What does a balance sheet tell you? (39:00)

Why do you need to know your business financial numbers? (40:31)

How you can sell yourself out of business (43:12)

Biggest problem with DIY-ing your business finances (47:28)

On hiring family, friends, or local bookkeepers to do your books (50:36)

What does it look like when you have your financial system in place? (57:16)

Keep up with Luke and his team (1:04:39)

Episode wrap-up (1:08:58)

 

Additional Resources:

- Join our FREE Get Paid For Estimates Masterclass HERE

- Hear our clients' success stories HERE 

- Schedule your business evaluation call with our team HERE

 

Guest Bonus: 50% Discount on Services

- Use discount code “ToddDawalt” to receive 50% off on services from Apparatus HERE

- Check out Apparatus Contractor Services, LLC for more information HERE

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The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.

Follow us on your favorite podcasting platform so you never miss an episode!

 

Direct download: CLE314_-_Podcast.mp3
Category:general -- posted at: 5:00am EST

EPISODE 313: Are you slaving away working in your construction business 70-80 hours per week? Is it possible to own a successful business and work fewer hours?

In this replay episode of The Construction Leading Edge Podcast, we’ll revisit my interview with our Systematize Your Construction Business (SYCB) client turned coach, Monish Khadye.

Monish and his wife Michelle own Khadye Design & Construction in Brisbane, Australia, specializing in renovations, extensions, and house remodelings. Between juggling construction and a baby on the way, Monish decided that he needed to systematize his business to spend more time with his family while keeping the business running and his people employed. And so he signed up for our Systematize Your Construction Business (SYCB) program in 2021; the rest was history.

Today, Monish shares what led him to seek help with our team and the systems and processes he implemented to grow his construction business to where it is today.

He also talks about his regular workweek back then and what it looks like now, stressing about taking quality time off and focusing on his CEO tasks instead of wearing many hats.

Whether you’re starting or have been in this business for a long time but want to scale up your business, this episode is everything you need to hear.

Let’s dive in!

 

Key Takeaways:

Introduction (00:00)

Meet Monish Khadye (02:48)

Why Monish wanted to become an SYCB coach (04:27)

What has Monish experienced after joining the SYCB program? (09:10)

The mindset shift if you want to systematize your business (12:08)

Challenges that lead him to connect with our team (16:14)

What does working 70-80 hours a week look like? (21:03)

On dealing with anxiety, fear, and rejection (26:37)

When Monish realized that the SYCB program was working (30:43)

Most impactful systems and processes that really moved the needle (34:02)

What does life and business look like now for Monish? (38:42)

Surprising effects of systematizing your construction business (47:41)

Advice for construction business owners (52:30)

 

Additional Resources:

- Join our FREE Get Paid For Estimates Masterclass HERE

- Hear our clients' success stories HERE 

- Schedule your business evaluation call with our team HERE

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The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.

Follow us on your favorite podcasting platform so you never miss an episode!

 

Direct download: CLE313_-_Podcast_New.mp3
Category:general -- posted at: 5:00am EST

EPISODE 312: Here’s the reality: Most small construction businesses have unintentionally designed their failure. Surprising, right? And that’s why eight out of ten construction companies find themselves where selling becomes nearly impossible. 

So, what mistakes should you avoid if you dream of selling your business and enjoying retirement?

In this latest episode of The Construction Leading Edge, I unravel the six mistakes that could render your business unsellable. We’ll also dig into the symptoms signaling trouble under the surface.

Lastly, I also share four actionable steps to make your business sellable and why planning an exit strategy shouldn’t be the first thing on your list.

Let’s dive in!

 

Key Takeaways:

Introduction (00:00)

Why 80% of small construction businesses can’t be sold (01:02)

Symptoms that your business is designed to fail (03:54)

Mistake #1 that makes businesses unsellable (10:04)

Mistake #2 that makes businesses unsellable (13:02)

Mistake #3 that makes businesses unsellable (14:08)

Mistake #4 that makes businesses unsellable (17:50)

Mistake #5 that makes businesses unsellable (19:42)

Mistake #6 that makes businesses unsellable (21:01)

Four actionable steps to make your business sellable (23:43)

Why planning an exit strategy should be last on your list (28:02)

 

Additional Resources:

- Watch the replay on How to Recession Proof Your Business HERE

- FREE training on how to get out of your business and make it run without you HERE

- Hear our clients' success stories HERE 

- Schedule your business evaluation call with our team HERE

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The Construction Leading Edge Podcast helps construction business owners maximize their revenue, eliminate chaos, systematize their work, and win back their time.

Follow us on your favorite podcasting platform so you never miss an episode!

 

Direct download: CLE312_-_Podcast.mp3
Category:general -- posted at: 5:00am EST