Building Financial Literacy in the Trades with Ian Schwandt

Episode Summary: In this episode, host Greg Woleck welcomes Ian Schwandt, a 20-year construction veteran and passionate advocate for financial literacy in the remodeling industry. Ian shares how understanding numbers and fostering financial transparency can strengthen companies through both good times and bad. From open-book management to key financial metrics, Ian offers valuable insights into building resilient businesses—and resilient teams—through a deeper understanding of money. Plus, Ian talks mentorship, mental health in the trades, and his favorite books and movie picks.

Key Topics Discussed:

• Why financial literacy is foundational for a sustainable remodeling business
• How momentum can mask financial fragility in the industry
• Creating a culture of financial transparency within a company
• Tools and metrics Ian uses to manage projects and forecast performance
• The importance of mentorship, mental health, and continual learning in the trades
• Translating economic theories into real-world project management practices

Guest Bio: Ian Schwandt is a 20-year construction professional whose career has spanned union carpentry, site supervision in healthcare projects, architectural woodworking, and leadership roles in high-performance homebuilding. Ian is passionate about building systems, teaching financial literacy to production teams, and ensuring the long-term health of construction businesses. When he’s not managing projects or spreadsheets, Ian enjoys gardening, woodworking, and living in the high-performance home he built on his family's farm in Wisconsin.

Memorable Quotes:

"Knowing your numbers goes beyond just making a profit—it's what helps you stay strong through ups and downs and build a business that lasts." "Focus on gross profit. Revenue is almost meaningless on a day-to-day operational level." "Take care of your mental health. You can't take care of your team if you don't take care of yourself first."

Resources & Tools Mentioned:

• Books:
  • The Most Important Thing by Howard Marks
  • Simple Numbers, Straight Talk, Big Profits by Greg Crabtree
  • The Infinite Game by Simon Sinek
  • The Great Gatsby by F. Scott Fitzgerald
• Financial Tools:
  • Volume-per-week tracking for project forecasting
  • The “Big Board” KPI tracking spreadsheet
  • Direct Labor Efficiency Ratio (DLER) for understanding labor profitability

Fun Facts About Ian:

• If his life were made into a movie, he’d want Harrison Ford or Liam Neeson to play him.
• His dream casual dinner would be a shawarma on the streets of Midtown Manhattan with a favorite mentor from the architecture world.
• Believes that mentorship and peer support were critical influences on his career trajectory.

Where to Connect with Ian: 📸 Instagram: @ijswoodworking – Reach out via DM to talk life, building, or business!