The Cash Flow Contractor

We’re constantly opening loops in our business and our lives. But how effective are you at closing them? Learn about the concept of closing loops and how it can help reduce stress and increase productivity.Time Stamps00:18 - Episode Introduction 00:53 - The Concept of Loops03:56 - The Stress of Open Loops and the Need for Closure05:10 - The Three Ds07:32 - How to Close Loops09:17 - Using Software to Manage Loops14:31 - Conclusion and Call to ActionQuotable Moments from the Show"Open loops are the number one way people kick back responsibility. So you're trying to delegate a job to somebody and you say, I need you to accomplish this by Friday. And they say, I will, as soon as you get me the keys to the skid loader. Now it's back on you. Right?" - Martin Holland"At the end of the day, the most important thing is when something's been communicated, when something's been asked, confirming that you have it, confirming that you're working on it, and confirming that it has been completed is closing a loop." - Khalil BenalioulhajNeed Help Producing High-Quality Podcast Content Without The Headache? SCHEDULE YOUR DISCOVERY CALL WITH DEMANDCAST!More from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our NewsletterSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow ContractorResourcesNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend Demandcast

Want to boost your productivity and take control of your time? Learn the value of delegation, maximize efficiency, and accelerate your business growth in this short episode with Khalil and Martin. Tune in!Time Stamps00:37 - Episode Introduction00:53 - The Buyback Principle and Hiring Decisions02:38 - The Value of Delegation05:10 - The Challenges of Delegation and Hiring09:01 - The Importance of Documentation and Software in Delegation09:48 - Infinite Tasks and Parallel Tasks12:55 - The Benefits of Having an Executive Assistant14:08 - Episode OutroQuotable Moments from the Show"Your company doesn't have value if you're not delegating. If you have to be there, what you have is a job. And investors typically don't wanna buy a job, and they especially don't wanna buy your job, right?" - Martin Holland"Nobody's ever gonna do it as well as you, but you're never going to be beyond your personal capacity if you don't hand it off." - Martin Holland"In hiring an executive assistant, my main priority was to be better about communication, to be better about delegating to the rest of my team, to be better at documentation and then across the board being accountable with all those things." Khalil BenalioulhajBuild A Profitable Business That Works Without You! Schedule a FREE CONSULTATION with Martin Holland at Anneal Business CoachingMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow ContractorResourcesNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend Demandcast

As a business owner, do you often ask - 'Where is all my cash?' Our guest Jason Kruger,  President & Founder at Signature Analytics, addresses common issues in financial management for construction companies in our latest podcast. Don't miss his valuable insights!Time Stamps00:41 - Episode & Guest Introduction01:46 - Understanding Financials in Construction03:25 - Importance of Accurate Financials05:53 - Common Pitfalls in Financial Tracking10:11 - The Role of WIP Reports in Construction Accounting15:01 - Challenges in Keeping Track of WIP16:26 - Maximizing Margins19:58 - Understanding WIP Reports26:33 - Handling Customer Cash Deposits30:52 - Handling Cash Deposits in Home Building33:17 - The Process of Closing Out a Project35:01 - Strategies for Better Cash Management42:25 - The Challenges of Managing Inventory50:33 - The Importance of Good Financials for Business Growth53:53 - Conclusion54:26 - How to Get in Touch with Jason KrugerResourcesNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastLearn how you can improve your customer and project workflows! BOOK YOUR FREE 30-MINUTE STRATEGY CALL HERE! Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!More from Jason KrugerCheckout Signature AnalyticsEmail Jason KrugerCall Jason Kruger at (858) 228 5643Jason Kruger on LinkedIn More from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

It's time to stop managing work in your head and create a clear workflow. Khalil & Martin discuss the best tips to stop stress and start efficiency in your business. Time to streamline work like never before. Tune in!Time Stamps00:41 - Super Bowl Predictions03:23 - Episode Intro04:37 - The Importance of a Structured Workflow07:24 - Challenges of Not Having a Workflow10:13 - How to Assess Your Workflow16:08 - How to Start Implementing a Workflow19:04 - Exploring Different Project Management Software & Tools25:42 - Understanding Pipelines in HubSpot30:19 - Tracking Customer Communication32:56 - Overcoming Challenges in Implementing CRM37:44 - The CRM Growth Kit by Benali42:11 - Episode Conclusion & TakeawaysQuotable Moments from the Show"When you know what to do, you got work. When you don't know what to do, you got a problem." - Martin Holland"If you're stressed out and anxious about the work that you've got on your plate, it's because you're trying to manage it all in your head." - Khalil Benalioulhaj"I think the first place for most of the businesses I work with to start calming the jitters is to get a workflow in a form where you have a process behind it." - Martin Holland"When we can write it all down, when we can make a to-do list, it's clear. It's actionable." - Khalil Benalioulhaj"The most common thing that we hear from people is that they wanna automate things. They want things to just work on their own, and that's great. But at a core level, you need to understand how it works manually and even use it manually before automating. You have to grow into automation." - Khalil Benalioulhaj"When you're starting out, the biggest thing is understanding what your objective is. If you want to track projects, if you want to manage customer communication, if you want to track sales,  know what your objectives are and then find the right tool for you." - Khalil BenalioulhajLearn how you can improve your customer and project workflows! BOOK YOUR FREE 30-MINUTE STRATEGY CALL HERE! ResourcesNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

Curious about what AI can do for your contracting business? Tune into our latest podcast episode to discover surprising ways you can utilize AI. From drafting emails, and managing projects, to writing SOPs, discover how it can improve your business operations. Don't miss out!Time Stamps00:18 - Episode Intro02:59 - Nonexpert Perspective on AI & Chat GPT06:06 - AI Integration in Business Tools13:11 - Practical Ways to Use AI for Contractors17:46 - Automating Tasks with AI18:52 - AI in Everyday Work22:38 - AI in Personal Finance Management25:01 - AI in Content Creation and Hiring32:38 - Embracing AI in ConstructionQuotable Moments from the Show"If you're not using software already in your business, it's gonna be much harder to the benefits of artificial intelligence right away. It's gonna take a lot of time. Like if you don't have really good books, if you don't have a good CRM in place, if you don't have a good project management software in place if you don't have a good billing software in place, if you're not using those tools, you're gonna fall behind probably exponentially at a certain point because. Eventually, people are only gonna want to work for people that have these tools ready at their disposal." - Khalil Benalioulhaj"There are things that you're doing every single day or every week where AI can aid you and can make you a little bit more efficient. That's where I would start." - Khalil Benalioulhaj"The future of the construction industry will include AI in some capacity, so why not be familiar with it? - Khalil Benalioulhaj"Go to openai.com. Get an account and type your question in there, and then start having fun with it." - Martin HollandReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Take advantage of essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesDALL-E 2Make AIMonarchMoney.comNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

Are you differentiating your construction business online or just blending with the crowd? Web expert Monica Pitts talks about how to make your construction website uniquely yours. Don't just be a number online, be memorable!Time Stamps02:13 - Intro to Monica Pitts 03:52 - Measuring Productivity06:15 - What Makes a Good Construction Website08:19 - The Role of the Client in Website Development09:15 - Technical Aspects of a Website 15:01 - The Importance of Owning Your Website & Domain19:12 - Helpful Accounts to Consider20:10 - Google Search Console21:45 - Website Appearance and User Experience25:43 - The Role of the Client in Website Development and Maintenance28:59 - Branding and Logos30:58 - The Importance of a Professional Identity Mark & Brand Guidelines33:10 - The Power of Authentic Content39:31 - How to Communicate Pricing on a Construction Website43:50 - The Role of Website Performance48:16 - Understanding Website Metrics54:21 - Episode Takeaways55:38 - The Cost of Website Development01:00:43 - Connect with Monica PittsQuotable Moments from Monica Pitts"People are going to look at you and multiple other companies online before they decide to buy from you. And if yours looks and feels like everyone else's website, they will never remember you." "I feel like when you're forced  to find ways to do things more efficiently, you find it, you know?"  "A good construction website, like any other website is gonna start with the company's goals." "Consider your website your first employee, because it's the first face that everybody sees and it needs to work for you.  It needs to be a productive member of your team. And if that's not what your website is doing for you, then your website isn't doing its job." "People ask me all the time, what system should I be building my website on? And I tell them that they need to think first about what they wanna do with their website. How is it gonna function? How is it gonna be a member of your team? What do you want it to do physically? And then how does it need to incorporate with the other systems that you use in your business?"Ready to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Take advantage of essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesWeb Design Company Interview Guide by Monica PittsNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Monica PittsMayaCreate Design WebsiteMarketing With Purpose PodcastMonica Pitts on LinkedInMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

Want to ace your marketing game this 2024? Khalil & Martin explore different scenarios within the construction industry, offering a deep dive into transforming connections into customers. Don't miss out!Time Stamps00:34 - Post-holiday Business Challenges01:51 - The Challenges of Business Ownership04:47 - Exploring Different Marketing Strategies for Contractors05:48 - Case Study 1: Subcontractor Looking to Pivot to General Contractor11:12 - Understanding the Buyer's Journey17:37 - Building Your Credibility22:37 - Case Study 2: Contractor Specializing in Bathrooms Needs More Qualified Leads28:45 - Utilizing Social Media to Generate Leads  30:15 - Hiring Social Media Experts vs. Doing it Yourself31:41 - The Importance of Quality Content and Quick Response32:31 - Balancing In-house and Outsourced Marketing Efforts33:04 - Deciding When to Quit a Marketing Strategy33:53 - Evaluating Marketing Channels and Measuring ROI37:09 - The Importance of Customer Stories in Marketing40:00 - Case Study 3: Expanding Business Reach While Maintaining Main Customers43:52 - Considering the Buyer's Journey and Target Market48:41 - The Importance of Personal Connections in Marketing50:29 - Conclusion: The Importance of Being Out ThereQuotable Moments from the Show"If you want to build that credibility, if you've done a lot of jobs, go and get photos of the before, the during, the after, have videos of that stuff, get it on your website. Showcase what your capabilities are." - Khalil Benalioulhaj"You can do many different things, but at a foundational level, you've gotta put in some footwork. You gotta get in person, you gotta get in front of people. It's gonna make a difference." -Khalil Benalioulhaj"You have to understand who your target market is, who you're after, what they care about, their buyer's journey. How do they become aware? How do they make the decision, you know, educate themselves on what to do and make the decision? And you want to be the one filling in that gap. You gotta talk to people. I mean in there are industries where that's not true. But in the industry's construction, you've gotta talk to people. You have to build a relationship, you have to reach out." - Martin HollandReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Take advantage of essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

Are you under constant stress to make ends meet in your business? Caught up in desperation bidding? Time to ask: 'Am I charging enough?' Martin and Khalil break down the margin mindset, highlighting signs of undercharging and its impact on your business. Get insights on nailing pricing, standing out from the competition, and balancing quality service with financial health. Hit play!Time Stamps00:42 - Exploring Closers.io03:45 - Topic Introduction04:18 - A Margin Mindset08:37 - Understanding Your Margin19:51 - Indicators of Underestimating Costs and Lack of Margin22:03 - Addressing the Fear of Increasing Prices25:20 - Understanding the Value of Your Service26:41 - The Importance of Customer Experience27:34 - Overcoming the Fear of Raising Prices29:19 - Delivering Value Beyond the Product39:36 - Implementing New Pricing Strategies42:46 - Perseverance in the Face of Rejection44:40 - Closing Thoughts and Next StepsQuotable Moments from the Show"If you don't have cash, if you are under stress all the time if you're doing the desperation bidding, if you need to get the next job to finish this job, those are all indicators that you're not charging enough." - Martin Holland"Understanding if you have a gross profit margin is a function of having really good books and understanding how to use them." - Martin Holland"If you cannot make a profit, you probably already know it." - Martin Holland"Your competitors should not set your prices for you.  They don't have your best interest at heart." - Martin Holland"If you want to charge more, you have to give people more." - Martin Holland"Get people to buy into your method and they'll buy your service." - Khalil Benalioulhaj"People will pay more for the product with a relationship than just the product." - Martin Holland"Probably your biggest channel of new business is referrals. What is a referral? It's, "I trust this company. You should use them too." - Khalil BenalioulhajReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Take advantage of essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesIntentional Bidding Part 1 of 4Intentional Bidding Part 2 of 4Intentional Bidding Part 3 of 4Intentional Bidding Part 4 of 4Price Increase CalculatorNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

Ready to kick off your construction biz in 2024? Join Martin & Khalil in this episode for some practical tips on starting your own construction business. They spill the beans on what works, what doesn't, and how to dodge the common pitfalls. Whether you're a construction pro or just dipping your toes, this episode’s got the lowdown to get your construction venture off the ground. Don't miss out – hit play!Time Stamps00:47 - Martin's Holiday Party02:29 - Starting a New Construction Business in 202403:37 - Go Do a Job05:11 - Build In Margin05:52 - Pay Attention to What You're Doing06:46 - Understanding Customer Needs and Asking for Feedback07:50  - Define the Scope of the Project & Stick to It08:31 - Pay Attention to What You Enjoy Doing09:15 - Avoid Buying Things You Do Not Need11:09 - Don't Take a Loan Out11:52 - Secure a Deposit Before Getting Started12:30 - Don't Take a Draw in the Job13:57 - Don't Overpromise14:22 - Track the Customer's Funds15:22 - Final Thoughts and Advice for Aspiring Entrepreneurs17:25 - Episode OutroQuotable Moments from the Show"Go get a job. Go pour a patio. Go build a pergola. Go get it done. And then you start to understand where all the things that you hadn't really thought about rear their ugly head." - Martin Holland"Some things happen gradually. Don't try to speed through time and fast forward. Do it step by step." - Khalil Benalioulhaj"If you're gonna go do that job, charge more than you probably think initially." - Khalil Benalioulhaj"Don't wind up coming out the other end and not have learned anything." - Martin Holland"You don't add any value. You add cost. Your customer either determines there's value there or not." - Martin HollandReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Take advantage of essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor

In the heat of day-to-day operations, it's common for contractors to put financial management on the back burner. However, neglecting the books can have far-reaching consequences beyond dollars and cents. In this episode, Ruth King, well known as the “Profit and Wealth Guru”, joins Khalil and Martin to discuss profitability and the role of accurate and timely bookkeeping in making informed business decisions.Time Stamps01:38 - Luca Pacioli & Bookkeeping04:26 - The Role of Bookkeeping to Contractors07:44 - Ruth's Entrepreneurial Journey and Business Ventures10:21 - The Role of Bookkeeping in Detecting Fraud15:12 - Revenue Generation15:38 - The Importance of Billable Hours in Construction18:08 - Calculating Billable Hours25:14 - Warning Signs of a Cash Flow Crunch27:45 - Challenges in Managing Inventory & Deposits31:21 - Understanding Deposits and Inventory Management35:23 - The Importance of Hiring Qualified Bookkeepers37:12 - How to Get Out of a Cash Flow Crunch39:37 - The Financially Fit Business40:40 - Signs of Financial Statement Inaccuracies42:03 - Using Software in Financial Management46:41 - The Foundational Role of Books50:28 - More from Ruth King52:17 - OutroQuotable Moments from the Show"In our industry, in construction, we generate revenue through billable hours. If you do not have a billable hour, you don't have revenue." - Ruth King"Decreasing current ratio should be the greatest warning sign to you that there is a problem with productivity. There's a problem with profitability. Figure it out or get help. One of the two." - Ruth King"It's [Bookkeeping] actually easier to do than all the technical stuff you learned. Period. It's just we weren't trained in it. We weren't taught it. We didn't take it in school." - Ruth King"I've been in business for 50 years now and I have never seen a business thrive without books. Ever." - Martin HollandReady to take your contracting business to the next level? Subscribe to The Cashflow Contractor today and get instant access to the FREE Ultimate Buyer's Guide for Contractors!Don't miss out on essential insights, tips, and strategies to boost your profits and streamline your operations. Subscribe now and download your exclusive guide to securing more clients and maximizing your earnings.ResourcesAIPB Bookkeeping Hiring TestNeed Marketing Help? We Recommend BenaliNeed Help with podcast production? We recommend DemandcastMore from Ruth KingRuth King’s WebsiteFinancially Fit Business Program Email Ruth KingContractor Cents PodcastMore from Martintheprofitproblem.comannealbc.com   Email MartinMeet With MartinLinkedInFacebookInstagramMore from Khalilbenali.com Email KhalilMeet With KhalilLinkedInFacebookInstagramMore from The Cashflow ContractorSubscribe to our YouTube channelFollow On Social: LinkedIn, Facebook, Instagram, X(formerly Twitter)Visit our websiteEmail The Cashflow Contractor