Construction Genius

Running a construction business is hard enough on its own. So many moving parts and details to look at. Then, you add accounting to the mix of complications. This leads to long nights during tax season, confusion and overwhelm. Why? The tax rules change every year, making it impossible to keep up. Imagine doing this all by yourself? Focusing on these small details will keep you away from your core business activities and if done incorrectly, it might even trip an IRS notice. That's the bad news. The good news is that you can hire a competent CPA to take care of all of this for you. They can potentially keep you out of jail. In this episode, Catherine Tindall of Dominion Enterprise Services, joins us to reveal how to choose the best CPA for your construction business. You'll also discover how to potentially get back a six-figure tax credit that very few know about, before it expires. Listen now. Show highlights include: The "Employee retention credit" trick that gives you a potential 6 figure pay day (3:00) How to choose a competent CPA to avoid being audited by the IRS (14:25) Two specific questions to ask your CPA for maximum tax credits and more money in your pockets (15:45) The little-known secrets to qualify for "special tax" statuses to maximize returns (17:25) How to spot "Tax waste" in your construction business before filing your taxes (17:35) The "Strategic tax planning" technique that accelerates personal wealth building (18:50) 3 Biggest mistakes CPAs make when handling your tax returns (and how to spot them) (20:35) How to avoid kicking off "IRS notices" in your construction business that leads to a tax bill (21:15) Interested in Executive Coaching? Contact Eric: www.constructiongenius.com/contact Please visit Catherine Tindall at https://dominiones.com

Growing your construction business is a headache if the wrong person sneaks onto your team. Having the wrong person on your team devours your money, sabotages your bottom line and leaves you in despair. So how do you make sure you hire the right fit for your team? You must hire team members with the same type of conviction as your organization. In this episode, you'll discover how to hire superstars to pour gasoline on your bottom-line. Listen now. Show highlights include: How to quickly tell if someone is the right fit for your organization (3:00) The simple "conviction" technique which attracts super-star talent each time you hire (5:25) The "Marlboro" marketing technique for meeting amazing talent you can hire immediately (15:00) The "Netflix" method of hiring a sports like dream team in your organization (17:25) 3 Core Values that Amazon uses to attract the right team players that never fail (18:50) How keeping the wrong person bleeds money in your organization (and how to avoid this) (20:20) Interested in Executive Coaching? Contact Eric: www.constructiongenius.com/contact Click the link below to purchase the ONE book every construction leader MUST read: Construction Genius: Effective, Hands-On, Practical, Simple, No-BS Leadership, Strategy, Sales, and Marketing Advice for Construction Companies

The biggest challenge in the construction industry is building trust with your customers. Without trust, there is always a skeptical customer. This leads to delays in projects, headaches and keeps you further away from growth. The good news is that developing trust is easy once you apply certain techniques. If you build trust from the start of the relationship, you have a happy customer willing to pay you money. And better yet? They'll refer you to more business than you can handle. In this episode, we are joined by Andrew Zukoski, CEO of Join, where we discuss how to build trust, so that you can focus on growing your business. Listen now. Show highlights include: The "Trust" formula that speeds up acquiring a customer every-time (5:00) The secret "Gap" method of communication in construction that separates pros from the amateurs (8:20) How this hidden "insecurity" is ruining your customer relationships (and how to recognize it) (11:00) How the best contractors build trust to avoid costly delays in projects (13:45) The "hand holding" technique to get customers to engage with your business quickly and offer you cash (23:00) Why knowing how the Baby Boomers and Millennials behave can put more money in your pocket (24:40) The "Data Slicing" software which speeds up trust and communication for lucrative deals (33:25) Interested in Executive Coaching? Contact Eric: www.constructiongenius.com/contact To Learn more about Andrew Zukoski. Please visit https://join.build/

How to Leverage Short-Term Rentals to Increase Your Personal Wealth The stock market isn't too exciting at the moment, and you may have cash on hand that you want to use. Investing in short-term rental properties is one avenue worth exploring. In this episode, we are joined by Alex Jarbo, CEO of Sargon Investments. He dives into the positives and negatives of short-term rentals, and discusses how to select and manage properties and why they work as a part of your investment portfolio. Listen now. Show highlights include: A secret lesson learned about speeding up success from joining the military (4:45) How to leverage your business to get unlimited freedom in your life (even when you've got no motivation to work) (5:15) How successful business owners build their long term wealth (with this short-term strategy) (3:15) The Secrets of "real-estate math" (that differentiates the novice from the pros) (10:46) The "Set it and forget it" technique that lets your short-term rentals run on autopilot (13:00) The sneaky way to avoid frat boys from destroying your properties (15:45) How to build 650 units in 3 years (without using your own cash) (17:15) The "Free Marketing" technique that ethically steals clients from AIRBNB (18:06) Interested in Executive Coaching? Contact Eric: www.constructiongenius.com/contact To learn more about Alex Jarbo. Please visit www.alexjarbo.com Alex's restaurant recommendation in Asheville, NC: Grove Park Inn, Sunset Terrace

We all want to make money as soon as possible. But your relationship with your partners can slow down this process, keeping your cashflow hostage. Without the right mindset, architects and contractors can have a toxic relationship that leads to a "cash burning" project. That's the bad news. The good news? There is a unique formula to work with your partners to make your projects run smoothly (without frustrations). In this episode, you will discover the best way to build relationships with your internal partners, so that everyone continuously makes money. Listen now. Show highlights include: The "Dumb Labor" technique to master construction as an architect (4:05) The "BS sniff" test for identifying when someone is lying to you on the job before it costs you money (9:55) One key ingredient for overcoming "suspicion" with your partners and unlocking a smooth working relationship (20:35) Why A Players never struggle finding and closing clients (and how to use this secret even if you're not an A Player) (27:15) The "informed owner" technique to avoid disasters in internal relationships (28:15) Why most project relationships fail right at the start (and what you can do to avoid this) (31:15) Two "Relationship Ingredients" that gets you reoccurring clients and more money in your pocket (32:45) Interested in Executive Coaching? Contact Eric: www.constructiongenius.com/contact

Building a better company can be difficult without the right people. Without the right team members, your company can head towards bankruptcy quickly — without you even realizing it. If you want your company to thrive, you must build your team members' confidence. But that's easier said than done. Don't worry, with the right strategy, building a team of confident leaders can be easier than you might be making it. In this episode, you will discover how to boost your team's confidence and unlock exponential growth. Listen now: How to get your time back by "ignoring" direct reports (without sacrificing your growth) (6:05) The "competence formula" that maximizes your company's return on time (7:30) The "Brain Share" method that great leaders use to get direct reports to solve problems (8:55) The "Soccer Ball" technique to get your teammates to learn quickly so you can multiply yourself (10:00) A "return on effort" time management trick to maximize team meetings (12:35) 2 "simple" questions to build rock solid confidence with your direct reports (that makes you look like a hero) (14:35) Interested in Executive Coaching? Contact Eric: www.constructiongenius.com/contact

When the economy shifts, the construction industry feels it. Less deals in the pipeline can lead to frustration and slow growth. Only certain companies are well equipped for this shift in the market. Some companies, however, will go out of business. The good news is there's a way to position your company for every market cycle. The best companies know how to weather the storm by focusing their "North Star" to exploit the market when other companies are heading for cover. In today's episode we are joined by Mike Forsum, President & COO of Landsea Homes, to reveal how you can position yourself in any market and thrive. Listen now: Show highlights include: Three things that great companies do to exploit opportunities to close more deals (in any market cycle) (3:10) The "Nordstrom Rack" method for buying up properties for pennies on the dollar (7:20) The "North Star" approach for adding value in the marketplace to squash the competition (8:34) This one "sneaky" strategy can increase your profits by tenfold (if executed correctly) (9:25) How this "secret covenant" makes or breaks your relationship with contractors (and why others in the construction business commit this mistake) (22:00) This one trait can take you from an entry level position to becoming a CEO (that anyone can learn) (29:49) If you want to connect with Mike Forsum from Landsea Homes, please connect with him here: https://landseahomes.com/

Most in the construction industry say meetings are a waste of labor. They say it's "busy work" that gets you no results when you could be focusing on a deadline. That's the "old way" of looking at meetings. Meetings, if conducted correctly can increase your leverage by 10x and maybe more. It allows you to multiply your efforts and identify problems before they even arise. In this episode, you will discover how to turn meetings from a waste of time into the most productive activity in your business. Listen now: The 'Micro Strategy" that solves hidden project problems before they appear (2:25) Two "classic" books that all executives should read to get more money out of every team member (3:15) How to get maximum return on your time with this quick "mental shift" (3:35) The "ask" formula for structuring meetings for maximum impact and efficiency (6:10) How to get others to plan meetings for you (without it being an hour long shouting match) (7:03) The "follow along" technique for maintaining laser like focus in a meeting (7:38) 5 questions to "ethically force" your teammates to reveal their secrets to prevent disasters (9:45) The "peel the onion" method used to discover hidden business problems before they become catastrophic (11:50) Please see the link to the Blog Post: https://www.constructiongenius.com/how-to-structure-one-to-one-meetings-to-improve-communication-and-project-performance/ Interested in Executive Coaching? Contact Eric: www.constructiongenius.com/contact

There are many activities in the construction industry that keep your team doing growth-restricting busy work. And you know what? There's a simple solution: Most busy work and inefficiency are caused by a lack of trust within companies. With the rise in labor prices and materials, this "busy work" can eat up your profits quickly. But technological improvements like blockchain increases visibility of transactions and trust. If implemented correctly, this can increase productivity and fast track your growth (even if you are not tech-savvy). In this episode Robert Salvador, CEO of Digibuild joins me to reveal how software can be implemented successfully. And how blockchain will revolutionize the construction industry. Listen now. Show highlights include: Why construction companies lose 26% of productivity annually (and how to stop this from happening) (4:20) The "Old School" mindset that keeps companies growing at a turtleneck speed (2:50) The simple "supply chain solution" to manage the 20% increase in material prices due to the pandemic (6:00) Two things to consider when implementing new software (even if you don't have buy in from C-suites) (8:15) How to identify "low hanging fruits" within your business that can increase efficiency via software today. (17:35) The two intangibles which can morph overwhelm into bankruptcy (and how to avoid them) (22:25) The best way to ensure contractors get paid on time (without the hassles) (25:40) How to leverage blockchain with your vendors and increase "digital trust" (29:30) If you want to connect with Robert Salvador from Digibuild, please connect with him here: https://digibuild.com/

When project managers shift roles to lead people, they get overwhelmed with their new responsibilities. The main issue is mindset. Most end up managing projects and do the same tasks as they did before. This can quickly lead you away from your main goals as a leader and make you fail at your new job. The good news is simply learning new strategies can excel your growth while letting other people do most of the work for you. In this episode, you'll discover how to manage your day and tasks so that you can be more productive as a leader. You'll also get rapid results instead of being bogged down with building old projects. Listen now. Show highlights include: The common mistake made by new leaders that keeps them "stuck" at their old role (1:20) The "builder of people" mindset shift that make you become a better leader and get better results (2:25) The "Monday Method" you can use to immediately improve your leadership skills (that you can implement right away) (2:36) A simple "time-block" strategy if done correctly can lead to massive productivity as a leader (4:02) How to set the right expectations from the beginning to prevent people from quitting on you (4:25) A key distinction between "Standards and Expectations" that can improve your mindset as a leader (5:30)