The EntreLeadership Podcast

How Small Decisions Can Have Massive Consequences

Mar 18, 2024

Topics include family business dynamics, financial management in nonprofits, Nintendo's layoff strategy, and handling payment delays in construction projects. The episode offers practical advice on managing partnerships, valuing employees, and navigating tough business decisions.

01:00:10

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Quick takeaways

Clear payment terms with contractors can improve cash flow for small businesses in construction.

Effective communication about payment expectations can enhance financial stability and client relationships.

Identifying and addressing unreliable contractors is vital to mitigating payment delays and maintaining business success.

Deep dives

Challenges with Payment App Processing and Delayed Payments

Dealing with payment apps and delayed payments from large contractors in the construction industry can pose significant challenges for small business owners like Nate. Often facing delays of 60 to 120 days after completing work adds financial strain due to retainage and waiver of liens processes, impacting cash flow and business operations.

Introduction

2min

Navigating Family Business Succession and Ownership Concerns

15min

Improving Work-Life Balance with a Virtual Assistant and Financial Guidance

3min

Leadership Insight for Nonprofit Organizations

5min

Implementing Bonuses Instead of Profit Sharing in Non-profit Organizations

6min

Valuing Employees in Tough Times

7min

Leadership, Loyalty, and Ethical Treatment in Business

3min

Navigating Payment Delays in Construction Projects

16min

Today we’ll hear about:

A business partner who doesn’t think his sister-in-law deserves to be a part of the family business
The truth about nonprofits and common misconceptions about their finances
How Nintendo avoided massive layoffs and why other tech companies should follow their example
How to manage financial agreements well so getting paid clients doesn’t turn into a headache

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