286 - Solving People Problems in Construction with Tom Bunn
The Cash Flow Contractor
Qualifying clients vs. trade partners
Tom and Khalil discuss vetting clients, ideal client profiles, red flags, and aligning clients with company values.
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
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- Need Help with podcast production? We recommend Demandcast
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