#067: Top 10 Ways Contractors Can Make This The Best Year Ever

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

Go listen to Episode 38 and Episode 61 for more on selling.

 

#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.

 

Click here to learn how the Construction Business Accelerator can help you make THIS YEAR…

Your BEST YEAR EVER.

Comments

comments