In this insightful talk, Bob Gauvreau, founder and CEO of Gauvreau Accounting Tax Law Advisory, shares essential financial strategies for contractors. He highlights the critical need for effective budgeting and job costing while revealing the top cash flow pitfalls to avoid in 2024. Gauvreau emphasizes the importance of industry-specific financial benchmarks and practical tools to simplify financial management. With a focus on empowering contractors, he equips listeners with techniques to master project costs and ensure long-term profitability.

Tersh Blissett, an AI and automation expert for the trades, shares insights from his experience as the owner of two HVAC companies and host of the Service Business Mastery Podcast. He outlines five essential automations every contractor needs to optimize workflow. Tersh also reveals clever ways to leverage AI, from streamlining lead management to enhancing customer service. He emphasizes the importance of minimizing repetitive tasks and highlights tools like Calendly and social media automations that can transform business operations.

Greg McKeown, author of the influential book Essentialism, shares insights on how to prioritize what truly matters in your life and business. He discusses navigating the noise in today's world, emphasizing the shift from information overload to clarity through essentialism. Greg introduces his new Essentialism Planner, designed to help users streamline their tasks and enhance productivity. The conversation delves into the power of writing for clarity, the importance of self-awareness, and practical strategies for achieving meaningful goals.

As the new year begins, it's time to confront seven self-deceptive lies that can hinder your progress. The discussion encourages listeners to reflect on limiting beliefs that have held them back and embrace a healthier mindset. Topics include the misconception that business success has to be hard, the myth of needing to excel in every area, and the importance of recognizing one’s worth. The episode also highlights strategies to attract and retain top talent while fostering a positive workplace culture, paving the way for a transformative year.

To learn more about Breakthrough Academy, click here: https://trybta.com/PCEP192  Have you ever wondered how the masters of big business scale up to nine-figures and beyond? Today’s guest is Adam E. Coffey, author of 3 bestsellers: The Private Equity Playbook, The Exit Strategy Playbook, and Empire Builder: The Road to a Billion. After 10 years as an executive at General Electric, he was hired as the president of three private equity-backed service companies where he completed 58 acquisitions and facilitated billions of dollars in successful exits.  In this episode, we pick his brain about how small-to-medium sized contractors like you can apply the concepts of The Private Equity Playbook to their business systems and operations. And trust us, there is a ton to be learned from our conversation. Episode highlights:- Get a breakdown of the concepts in Adam E.Coffey’s bestselling books, The Private Equity Playbook, The Exit Strategy Playbook, and Empire Builder: The Road to a Billion.- Learn the three stages of business growth on the road to a billion, and what tactics and areas of focus are most important at each point in the journey.- Understand how to apply the mindset and tactics used in the world of private equity to your own strategic plan. 00:00-Intro01:23-About Adam Coffey06:22-Stage 1 : $0 to $1MM16:26-Stage 2: $1 M to $10MM32:17-Stage 3: $10MM to $100MM42:40-Four Powerful Organic Levers to Bend Your Growth Curve Upward50:27-The 2 Most Essential Business Skills for Growth53:39-Connect With AdamSee omnystudio.com/listener for privacy information.

Greg Crabtree, author of "Simple Numbers, Straight Talk, Big Profits!", shares invaluable insights into contractor financial management. Discover why gross margin should be your true top line metric and how income tax payments can improve profitability. Crabtree discusses building a strong company culture and the necessity of adapting marketing strategies in a shifting economic landscape. He advocates for clear, honest financial practices, emphasizing the importance of labor productivity and effective cash flow management for sustainable growth.

Joey Coleman, a world-renowned speaker and bestselling author, shares insights on employee retention and experience. He discusses the staggering costs of turnover and the importance of onboarding. Joey emphasizes the critical first 100 days for new hires and provides strategies to enhance their experience and engagement. He offers tips on career pathing, ensuring employees can see their growth potential, and highlights the significance of personal relationships and clarity in roles to foster a thriving workplace culture.

Discover nine actionable strategies for turning your brilliant ideas into actual systems. Learn how to select the right projects and clearly define your desired outcomes. Tackle the challenges of implementation by understanding change fatigue and fostering open communication. Find out how to create foolproof project plans and delegate effectively without overwhelming your team. Get motivated to crush your goals in the upcoming year and cultivate a strong performance culture in your business!

Isaac Barlow, Founder of Busybusy, discusses the transformative power of time tracking in the construction industry. He shares insights on overcoming resistance to modern tech among field staff and emphasizes fostering a performance-driven culture. Barlow highlights how data collection can enhance productivity and profitability, arguing that time management is crucial for success. He also explores strategies for implementing time tracking in a way that boosts both workplace morale and accountability.

Shawn Van Dyke, author of "Profit First for Contractors," shares invaluable insights on financial management tailored for the construction industry. He discusses the Profit First cash management model, highlighting how it can shift your mindset about money. Learn about the common profit-killing mistakes contractors make, the five essential bank accounts to set up, and the need for honest financial conversations with clients. Shawn's practical strategies aim to transform the profitability landscape for contractors and drive sustainable business growth.