Mastering the flow of cash is the cornerstone of construction success – it's the key to bolstering your bottom line, fortifying your business, and achieving true peace of mind. Today’s guest is Scott Peper, CEO of Mobilization Funding, who possesses extensive experience in assisting construction companies with their cash requirements. He discusses the essence of cash flow, its paramount importance, and the essential steps to enhance it within your organization. Drawing from his experience and expertise, he discusses several key areas that directly influence cash flow, profitability, and overall operational harmony. Scott also mentions his book, The Big Book of Cash Flow, and shares some exclusive sneak peeks such as the tools needed to control your cash flow. Join us on this transformative journey towards financial stability, increased profits, and an optimized business structure.
More episodes from "Construction Genius"
Piling Up Profit: Powerful Strategies For Construction Business Owners
24:24Building a profitable construction business and maximizing profits in any market can be challenging. However, some strategies and principles can help business owners achieve profit goals. Today, we will explore what profit first strategy is. Susanne Mariga, the CEO of The Mariga Group, identifies powerful strategies for building a profitable construction business by maximizing profits in 2023. She delves into the psychology of achieving your profit goals, emphasizing the value of understanding self-discipline to succeed in your goals. Susanne also shares some tips to recession-proof your business. Don’t miss this insightful conversation with Susanne and Eric Anderton to maximize your profit in 2023! Connect with Susanne at www.susannemariga.com
Predictable Profit: How To Develop Effective Project Managers With Kyle Nitchen
53:14Transforming project managers into influential leaders is the cornerstone of predictable profit in construction. In this episode, host Eric Anderton sits with Kyle Nitchen, who launched “The Influential Project Manager”. Together, they discover the secrets of transforming ordinary project managers into influential leaders who consistently deliver on-time, on-budget, and profitable projects. Join us as Kyle uncovers the six critical archetypes for construction leadership success that underpin effective project management. From the charismatic "Business Developer" to the meticulous "Accountant," Kyle discusses how embracing these archetypes can elevate your project management game. Boost your leadership skills, foster lasting client relationships, and propel your construction projects to new heights. Tune in now! Restaurant Recommendation: https://www.101northeateryandbar.com/ People problems are costing your construction company millions. Here’s how to solve them. If you’re a construction owner, you’re looking at the current projects on the books and your financial success. And you know you could do better. You find yourself asking the same questions: Why is it that my project profit fades over the lifetime of a project? Why is it that I have these conflicts between the field and the office, or between myself and my project partners, or between the general contractors and my owners? Why is it that I can't identify the right types of people to work in the organization or the right types of projects to build? Why is it that I bid on a project and think I'm gonna win it, but my competition comes in at the last moment and takes the project away from me? The reason why is your people don’t know how to lead, they don’t know how to establish clear strategies, and they don’t know how to sell. Every business problem you’re facing is a people problem. Technical competence is not enough. It’s about identifying the right client, the right project, and the right location, and attracting the right people into the right roles to build relationships with those clients and deliver the projects on time. Since 2004, Eric Anderton has worked with construction company executive teams to improve their profitability. All things being equal in terms of technical skills, the quality of a construction business comes down to the people involved. You need to be able to sell your services to the right clients with the right projects. You need to bring the right people on-site to execute those projects. And you must communicate internally and externally throughout the lifetime of a project so that you deliver that project profitably on a consistent basis. The people determine everything in construction. In this book, Eric has compiled nearly two decades of proven, no-BS construction advice to show you: How to lead How to strategize How to sell How to be successful Construction Genius logically breaks down complex concepts into small components so any construction leader understands how to be more effective. Construction Genius covers topics as broad as how to structure a meeting so you reach an agreement on how to solve problems every time, to how to have tough conversations without ruining relationships, to how to build better teams that deliver profitable projects . . . and the one question that will save you $1 million, guaranteed. Whether you’re a subcontractor that generates $10 million a year or a general contractor that generates $1 billion-plus a year, Construction Genius solves the profit-killing people problems every company battles. Simple, straightforward leadership, strategy, sales, and marketing tools to build a profitable, sustainable construction company. Buy Eric's Book: https://www.amazon.com/gp/product/B0BHTRDY1T/ Need executive coaching? Contact Eric: www.constructiongenius.com/contact
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Bricks, Mortar, And AI: Could ChatGPT Be The Key To Unlocking New Efficiencies In Construction? With Robert Salvador
40:37Artificial Intelligence has become a powerful ally to many industries, and the construction business is no exception. It has become a weapon that conquers inefficiencies and unlocks new business possibilities. In this episode, Robert Salvador, the CEO of DigiBuild Software, explores the value of AI and navigates the ins and outs of ChatGPT in construction. Emphasizing the significance of AI in the construction business, he explains how you can practically leverage it. Robert also provides concrete steps to make this technology work for your company. Let’s traverse into the exciting landscape of AI Construction with Robert’s expertise today!
Revolutionizing Multifamily Construction: How Norhart Achieved 20-30% Cost Reductions And Transformed The Industry With Mike Kaeding
45:38The real cost-cutter may not be what you think. In this episode, our special guest is Mike Kaeding, the CEO of Norhart, who is revolutionizing the multifamily market with their groundbreaking approach to construction projects. Mike's unwavering commitment to placing the right people in the right positions led him to hire a remarkable team of 16 in-house recruiters. Today, he shares the importance of having the right people and how it helped Nohart achieve cost reductions that transformed the construction industry. He discusses why it's crucial for organizations to have an in-house recruiter who truly understands their culture and is dedicated to bringing in top talent. Say goodbye to outsourced recruiters and embrace this powerful idea. And that’s just the tip of the construction cane, as Mike also reveals his ambitious mission of driving down costs by a jaw-dropping 50%, starting with a 20-30% reduction! Don’t miss out, as Mike leads in reshaping the industry. Tune in now!
How To Stop Chasing Work And Start Targeting the Right Projects In Prime Locations With Great Clients With Chloe Smith
31:40In a fast-paced business environment, the fear of missing out on the perfect project that aligns with a company's specialty and growth objectives is a common concern for business development professionals. However, Chloe Smith, the CEO and Co-founder of Mercator AI, offers a solution to this challenge and for you to stop chasing work and target the right projects in prime locations. She articulates how Artificial Intelligence, specifically her technology, works. Also, she delves into the value of AI in business and highlights her vision for utilizing this technology to augment capabilities. Chloe has a strong intuition and vision to start her business. She encourages startup leaders to trust their intuition, sharing her journey as inspiration. Tune in to this episode and set your journey towards business growth today.
Summer Of Skills: The Heavy Metal Experience And The Future Of The Building Trades
28:57Within the construction industry lies a vast realm of untapped opportunities, awaiting those who dare to venture beyond the familiar. Get ready to rock out in this exhilarating episode! Come explore with us the universe of heavy metal – not the music, but a thrilling project that is transforming the construction industry and shifting our perception of it. Our guest Angie Simon, co-founder and president of Heavy Metal Summer Experience, shares the inspiring story of how this revolutionary summer camp has achieved unprecedented levels of success. The Heavy Metal Summer Experience provides high school youth with a transformative opportunity to explore the limitless potential within the trades. It's a gateway for talented, hardworking individuals who may not be college-bound, yet yearn to build a remarkable future in the construction industry. Angie reveals the origins of the Heavy Metal Summer Experience and unveils the intricacies of its structure. Furthermore, she elaborates on how various segments of the construction industry, ranging from subcontractors to general contractors, can incorporate the Heavy Metal approach to entice prospective individuals to join the field. Tune in now and discover the path to trades! Buy Eric's Book: Construction Genius: Effective, Hands-On, Practical, Simple, No-BS Leadership, Strategy, Sales, and Marketing Advice for Construction Companies https://www.amazon.com/Construction-Genius-Effective-Hands-Leadership/dp/B0BHTRDY1T/
Establishing A Safety Culture: The Importance Of Near Miss Reports In Mitigating Incidents With Terry Dussault
46:16Is it possible to achieve a flawless execution? That may seem impossible, but that should be the construction business's goal. In this episode, Terry Dussault, the founder of Yellowknife Consulting Services, highlights the value of establishing a safety culture to mitigate incidents. He differentiates a safety program from a safety culture. Terry also discusses why it's essential to investigate incidences and how you can develop a near-miss reporting program your employees can buy into to reduce the number of incidents in your company. Remember, you need to tailor these insights to your company's specific needs and culture. Consulting with safety professionals or experts can guide you in implementing an effective near-miss reporting program. Tune in for more!
The Art Of Saying "No" And Other Leadership Strategies
46:30In this insightful interview, Bradley engages Eric Anderton in a conversation about his journey, his leadership philosophy, and the strategies he employs to help construction leaders maximize their potential. Eric shares his unique EAR (Encouragement, Accountability, Recognition) framework for effective leadership communication, discusses the importance of setting an aspirational hourly rate, and emphasizes the power of saying "no" to tasks falling outside a leader's role or below their aspirational hourly rate.
Nail Your Estimates: How To Use Information, Creativity, And Collaboration To Win More Work With Melvin Newman
47:53Changing the game in estimating can be a pain in the neck but utilizing gathered information will help strategize and turn the tides in the business’ art of war. In this episode, Melvin Newman, the President of PataBid, accentuates some key points to nail your estimates and win the right projects, clients, and locations. He also captures the value of socializing the estimates in your organization to be creative in increasing hit rates and winning more work. Melvin also shares his insights on how time inversion impacts the hit rate of a contractor in winning the work. Let’s dive deeper into this conversation with the estimating genius Melvin Newman! Do you have a talented senior executive who needs to be a better leader? Getting an outside, impartial perspective from an industry expert can help. Reach out to Eric directly to learn more about his executive coaching for construction leaders: www.constructiongenius.com/contact
Website Strategy: Mastering SEO To Humanize Your Brand And Navigate Litigation With Michael Buzinski
37:39In this episode, Eric Anderton engages in a captivating conversation with Michael "Buzz" Buzinski, an expert in website strategy, search engine optimization (SEO), and integrated marketing. Buzz provides a comprehensive understanding of SEO and its crucial role in enhancing a construction contractor's website performance, online visibility, and lead generation. Discover effective techniques for humanizing your brand by leveraging community relationships, building trust, and positioning yourself as a reliable and approachable industry expert. Gain valuable insights on using SEO as a strategic tool to navigate potential challenges, including litigation, and protect your brand's reputation in the digital landscape. Learn how to optimize your website strategy by incorporating SEO best practices, keyword research, content optimization, and user experience enhancements. Buzz shares practical recommendations for contractors seeking to dive into SEO, whether through DIY efforts using reputable online tools or by partnering with an experienced search engine marketing firm. Explore the long-term benefits of SEO and the importance of considering the full marketing ecosystem to maximize return on investment (ROI) and drive sustainable business growth. Connect with Michael "Buzz" Buzinski at Buzzworthy.biz to leverage his expertise in website strategy, SEO, and integrated marketing for your construction business. Contact Buzz via email at [email protected] or by phone at 907-382-7625. Connect with Buzz on LinkedIn: https://www.linkedin.com/in/MichaelBuzinski/ Don't miss this enlightening episode where Eric and Buzz delve into the realm of website strategy and its pivotal connection to SEO. Whether you're aiming to humanize your brand, optimize your online presence, or effectively navigate potential reputation challenges, their insights will equip you with actionable strategies to elevate your construction business. Tune in now to master the art of SEO and propel your website performance to new heights. Get in Touch with Eric: Interested in executive coaching? Eric offers invaluable insights and practical advice that can guide your leadership journey in the construction industry. Schedule a quick 10-minute conversation with him through the following link: 10minuteswitheric.youcanbook.me For more hands-on, practical, and effective leadership advice, be sure to get a copy of Eric's book "Construction Genius: Effective, Hands-On, Practical, Simple, No-BS Leadership, Strategy, Sales, and Marketing Advice for Construction Companies." Available on Amazon. The book provides a wealth of knowledge that every construction professional can benefit from. Don't miss out on the opportunity to elevate your leadership, strategy, sales, and marketing game in the construction sector.