#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…