286 - Solving People Problems in Construction with Tom Bunn
The Cash Flow Contractor
Maintaining long-term trade partner relationships
Tom shares practices: early involvement, not wasting bids, paying invoices on time, and respecting trade expertise.
What if you could build a thriving $2M construction business by focusing on the right team structure and core values? Tom Bunn shares his journey from corporate burnout to successful contractor, revealing how his team-first approach and EOS framework transformed Bunn and Sons from a handyman service to a thriving design-build firm, without the chaos that typically plagues construction businesses.
What You’ll Learn
- How to transition from working IN your business to working ON your business
- Why core values are essential for qualifying both team members and clients
- How to structure and manage trade partner relationships for long-term success
- The importance of maintaining margin in your business decisions
- Why "table stakes" business practices can become a major differentiator in construction
Time Stamps
00:58 - Episode Intro
02:00 - Starting Bunn and Sons: From Corporate to Construction
04:41 - Building the Business: Early Challenges and Growth
07:02 - Team Dynamics: Assembling and Managing the Crew
10:25 - Core Values and Company Culture
26:29 - Building Long-Lasting Trade Partner Relationships
26:54 - Onboarding and Integrating New Trade Partners
28:13 - Maintaining Trade Partner Relationships
34:58 - Client Qualification and Vetting Process
41:18 - Challenges and Best Practices in Construction
43:14 - The Importance of Margin in Business
48:16 - Differentiating Through Basic Business Practices
50:24 - The Low Barrier to Entry in Construction
54:39 - Simplicity vs. Complexity in Business Operations
56:13 - Final Thoughts and Reflections
Snippets from the Episode
- "I've found that a lot of people we hire come to us in a state I'd loosely describe as 'battered wife.' This industry has just become far too commonplace for tradespeople to be undervalued, overworked, and stressed out."- Tom Bunn
- "When things get lean, there's a constant temptation to want to say 'maybe we could make this work,' but you have to be careful. It's very easy to burn a lot of relationship capital with your team when you bring a bad client on board."- Tom Bunn
- "Simple doesn't mean easy. Pricing is simple: direct costs, indirect costs, and margin on top. But if you don't know what those are, that very simple thing becomes tough."- Tom Bunn
Key Takeaways
- Define your core values first, then hire to match them
- Focus on coordination and client experience
- Maintain long-term trade partner relationships
- Pay invoices on time and respect trade partners' expertise
- Qualify clients against your values and ideal client profile
- Protect your margins by saying no to the wrong opportunities
- Basic business practices can be your biggest differentiator
Resources
- 24 Things Construction Business Owners Need to Successfully Hire & Train an Executive Assistant
- Schedule a 15-Minute Roadblock Call
- Build a Business that Runs without you. Explore our GrowthKits
- Need Marketing Help? We Recommend Benali
- Need Help with podcast production? We recommend Demandcast
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