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.