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PODCAST

The Cash Flow Contractor

If you’re like most contractors we know, then you started your business because you’re passionate about and great at your craft. You also wanted to be your own boss. Owning a business has a lot of advantages, but also a lot of challenges. We started this podcast to talk about things that matter to you as an owner, like business fundamentals, sales processes, marketing, leadership, and much more. Armed with knowledge, you’ll be able to reach your goals, whether that’s growth, getting your shop to

business management

All Episodes

96:26

62 - The Fire Safety Guy with Kris Pettigrew

The Cash Flow Contractor ·

2021/04/13

Kris Petigrew. Who is he? (3:00)What mentorship can do. (9:30)Parting ways. (16:00)Step 1 of FPS (23:00)What FPS offers. (27:00)The focus when starting FPS. (40:00)The vision for FPS. (52:00)FPS culture. (1:00:00)Tulsa acquisition (1:06:00)The opportunity of the cannabis industry. (1:18:00)Quotable Moments“John and I are polar opposites but we are yin and yang. We work well together and thrive together.” – Kris“I left [my job] and then three days later I started FPS.” – Kris“There’s dry

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7:21

61 - Sword of Damocles

The Cash Flow Contractor ·

2021/04/08

What is the Sword of Damocles? (2:00)Why does it matter? (4:10)Why you should have pride in being a business owner. (6:00)Quotable Moments“Wherever you see a successful business, someone has made a bunch of courageous decisions.” – M“Small business owners bear a constant burden of responsibility. They’re seldom appreciated. They’re often alone.” – M“The difference between a business owner and the Sword of Damocles is that the business owner seldom has options to bail.” – M“If you are now or

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91:27

60 - Changing Your Reality

The Cash Flow Contractor ·

2021/04/06

Why would someone want to change their reality? (4:40)What’s the first step to changing your reality? (8:07)Reasons people resist change. (9:37)The Change Formula: Pain x Pleasure must be > Resistance to Change (13:56)Who is responsible for your reality? (15:05)3 steps for changing your reality. (18:16)What makes up your reality? (23:04)Skills and beliefs are easy to change, but can you change your values? (39:44)Identity: The hardest thing to change. (47:07)Act as if... (51:26)The power

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12:20

59 - When You Know They Need To Go

The Cash Flow Contractor ·

2021/04/01

Why is it so difficult? (2:30)Subjective reasons to fire. (3:50)What can you do? (5:20)The benefit of a solid team. (6:30)What’s at stake. (9:00)Quotable Moments“It’s pure agony. I suck my thumb. I do all other things before I finally carry it out.” – Warren Buffet“Hire for skill and fire for attitude.” – M“We may never eliminate all the feelings of empathy, doubt, and fairness, but we cannot let them keep us from terminating an employee once we know they have to go.” – M“Building the right

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88:53

58 - The Foundation of Schindler Design Co. with Reid...

The Cash Flow Contractor ·

2021/03/30

Reid’s start. (5:00)How to manage customer expectations. (21:00)The entrepreneurial epiphany. (32:00)Getting the first job. (42:00)How added expenses are worth it. (52:00)Why we only have 2 employees. (57:00)How to keep good subcontractors. (59:00)How to winterize your pool. (1:05:00)The margins you bid for. (1.15:00)Mentorship. (1:24:00)Quotable Moments“My last interview was for an internship when I was 16 years old.” – R“No matter how good of a designer you are, in my opinion, you also

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23:41

57 - Customer Profiles

The Cash Flow Contractor ·

2021/03/11

What are Customer Profiles? (3:00)Start with defining your niche. (6:30)Determine the segments. (10:00)Your anti-persona. (11:45)Filling out your ICP. (14:19)Why do Customer Profiles matter? (21:00)Quotable Moments“Think of it as a Facebook profile for your ideal customer. It will cover their demographics, their needs, their goals, their income revenue and sometimes their location.” – K“You may determine your niche by location. It may be that you only want to work in the state, if you’re a

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33:08

56 - Financial Statements Made Easy - Statement of...

The Cash Flow Contractor ·

2021/03/09

3 reasons you could have a profit but no cash. (6:19)What if you DO have cash, but you’re NOT profitable? (8:11)How does collecting old receivables affect your view of how profitable you are? (11:35)Why cash is king. (13:13)What is the statement of cash flows? (15:34)What does your statement of cash flows look like? (20:13)How do you use your statement of cash flows? (26:12)Story Time: A real client who used the statement of cash flows to figure out where her money was going. (27:34)Take

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9:32

55 - Tyranny of the Urgent

The Cash Flow Contractor ·

2021/03/04

The main loss. (1:30)Being too busy to do something about it. (2:30)What can you do with all that cash? (3:40)Leads, leads, leads. (4:50)Internal vs External organization. (5:30)Is it an expense or an investment? (8:20)Quotable Moments“The worst part about having urgent crises isn’t the sleep you lose. It’s the opportunities you lose.” – M“The 3 main differences between people who are always under stress in business and those who aren't: cash, leads, & organization.” – M“Cash converts

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49:45

54 - Financial Statements Made Easy - Balance Sheet

The Cash Flow Contractor ·

2021/03/02

What is a balance sheet? What questions does it answer for you? (HINT: What you own, what you owe, and what’s leftover for me.) (6:27)What accounts are on your balance sheet? (10:50)Let’s take a look at the balance sheet at work. (14:24)Balance sheet ratios: What are they, and how can you use them? (21:18)Your balance sheet shows how quickly you turn over your accounts receivable, and knowing that can help free up a LOT of cash. (31:30)Next up: Statement of Cash Flows. BUT you can’t

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24:40

53 - Establishing Core Values

The Cash Flow Contractor ·

2021/02/25

What are Core Values? (1:19)The Benefit of Core Values. (4:20)How to establish Core Values. (8:27)Refining your research. (14:17)When you should use Core Values. (19:38)How Core Values can influence decision making. (22:10)Quotable Moments“If you think of your company, your company has a brand. And your brand is really the personality of your company. Your core values are going to be the traits, the behaviors, and the characteristics of your company’s brand.” – K“Your core values should

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54:41

52 - Financial Statements Made Easy - Profit & Loss...

The Cash Flow Contractor ·

2021/02/23

Overview: What is a P&L? (4:20)5 questions your financial statements answer that you NEED to know. (7:04)Where did the P&L start? (8:39)Common problems people are experiencing if they have to ask, “Am I making money?” (10:34)If you know you have BAD books, what can you do about it? (13:22)Why you need the right kind of accountant. (PRO TIP: A tax accountant is NOT the one you want keeping your books.) (16:28)What’s the difference between a “cost” and an “expense?” (19:53)How should

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6:57

51 - 23 Hours & 55 Minutes

The Cash Flow Contractor ·

2021/02/18

Applying this to contractors. 2:00)Calling people back. (3:00)How to not waste all your hard work in 5 minutes. (5:45)Quotable Moments“He worked for us for 4 months. Did good work, but missed a couple of punch list items. Didn’t call us back. [For those reasons], he lost a referral source in us.” –M“He paid for advertising, he got a lead, he scheduled an appointment, he went out and he took measurements. He then designed the project and put together a bid and sent it but he made a critical

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41:29

50 - Financial Statements Made Easy - Without Numbers...

The Cash Flow Contractor ·

2021/02/16

What are financial statements? (2:22)Why do they matter, and what do I need to do with them? (4:40)Financial statements let you know the score, but they also help you with the future. (8:00)Story Time: What can happen if you don’t use financial statements to plan for the future. (11:27)When do most business owners start trying to understand their financials? “When they’re about to die.” — M (13:08)How do I actually get accurate financial statements? (16:22)Cash vs. accrual accounting

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9:30

49 - Prospecting 101 - Tactics

The Cash Flow Contractor ·

2021/02/11

Sourcing (1:00)Networking. How to do it frequently AND effectively. (3:00)Cold outreach. (5:00)Quotable Moments“Sourcing is all about building that relationship through reaching out to them before you submit your estimate.” –K“If you do these steps over time, it’s going to get to the point where you don’t need to prospect as much, because you’ve built a book of GCs that you’ll get work from consistently.” –K“Networking is the tactic that is done the most frequently but not the most

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102:10

48 - Can’t Adapt? Then Retire. with Kristine Sexter

The Cash Flow Contractor ·

2021/02/09

Employee-driven market. (7:00)How Millennials killed the Military model market. (16:00)Just hiring a “heartbeat.” (29:00)Having the “stay” interview. (40:00)Don’t trust your gut. (45:00)Having an epic fail (54:00)Hard yet necessary conversations (58:00)The toxic employee (1:05:00)Khalil’s employee review process (1:13:19)Culture killers. (1:28:00)Pay the market demand in your city. (1:36:00)Quotable Moments“Our purpose as an organization is to help organizations create award-winning

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6:46

47 - Spur of the Moment Pricing Decisions

The Cash Flow Contractor ·

2021/02/04

Questioning your pricing. (1:00)Stick with your guns. (1:45)Don’t ruin what you’ve worked hard for. (2:45)Stay the course. (4:40)Quotable Moments“He wanted to change his pricing to be the same as his competitors but he didn’t have any solid evidence that he was losing bids because of the prices.” –M“Turns out, he got 4 jobs in a 3-hour stretch without lowering his prices. He maintained his prices and he got his full margins.” –M“Had he called those people back and reduced the prices, and

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37:50

46 - Building an Org Chart

The Cash Flow Contractor ·

2021/02/02

What IS an org chart? (1:23)A Tale of Two Tired Partners: How an org chart identified ways to free up their time. (4:18)How do you build an org chart? (11:41)Don’t build your org chart for what your company looks like today. Build it for what your company will look like when it’s “finished.” (18:02)How to get the most out of your org chart. (19:15)Pro Tip: Put your employee’s names in the boxes to see how much work everyone is taking on. (25:26)You don’t have to (and probably shouldn’t)

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12:06

45 - Prospecting 101 - Principles

The Cash Flow Contractor ·

2021/01/28

Prospecting depending on your business model. (1:45)The 5 main prospecting principles. (2:50)The prospecting pyramid. (3:30)Always be helpful. (10:00)Quotable Moments“Set SMART goals. Goals that are Specific, Measurable, Attainable, Realistic, & Time Specific.” – K“The 5 main prospecting principles are 1) Set Goals, 2) Stay Consistent, 3) Know Your Ask, 4) Celebrate “NO.” 5) Always Be Helpful.” – K“Have a prospecting pyramid to set goals for the week. The top of your pyramid is your

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83:20

44 - Leading Leaders with Bruce Ross

The Cash Flow Contractor ·

2021/01/26

What’s a leader? (6:00)Why there aren’t any leaders in the world. (15:00)Leadership essentials. (21:00)Your mindset and your limits (32:00)Discover your “Why.” (39:00)Becoming a FlowPreneur™. (52:00)Bruce’s “Why.” (1:09:00)Quotable Moments“There’s a mandated effort – you’re paid to be here. But discretionary effort is above and beyond effort.” – B“There are no leaders in the world. We are all followers. What you have as a leader is a more dedicated follower of a purpose.” – B“Self

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7:22

43 - Grow with No

The Cash Flow Contractor ·

2021/01/21

Learning to say “No.” (1:34)The 80/20 Rule. (3:00)The risks of not saying “No.” (4:40)Why you need to try it. NOW. (6:00)Quotable Moments“He was determined to replace the slow-paying, time-wasting, complaining-making, call-you-at-home-on-the-weekend clients with clients who would be loyal and that he enjoyed working with.” –M“My client increased his margins by saying no from 25 to nearly 50%.” –M“80% of our problems come from 20% of our clients. Have you ever considered at least saying no

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