Financial Management

Ep.156: Making Money in Cost Plus Remodeling with David Crane

July 15, 2021 Business Management, Financial Management, Sales 00:31:29

While Cost Plus Remodeling isn’t for everyone, it can be an enjoyable and profitable way of doing business.  If it is done well, it can be very rewarding and reduce the uncertainty of a market.

Guest David Crane joins this episode to share why cost plus remodeling has proven to be successful for his business and his clients, and why remodelers should adapt this form of a remodeling contract.

David is the CEO and President of Crane Builders in Nashville, Tennessee and has spent the past 34 years meeting clients’ needs with the highest standards in the remodeling and construction industry.  He graduated from Louisiana State University with a degree in Construction and after spending 10 years in his hometown of New Orleans remodeling homes, he moved his business to Nashville where the company has been delighting clients since.  David will also be speaking at this year’s Remodelers Summit in Phoenix, Arizona.

Victoria, Mark and David talk more about:

  • Some of the keys to successfully doing Cost Plus Remodeling
  • The differences in Cost Plus Remodeling vs. Fixed Price Remodeling
  • How to make a profit when you have to show the client your markup
  • What to do with your labor and Project Manager costs on a Cost Plus Project
  • And more…

No Better Way to Build Your Team...

For years we have seen the most successful remodelers in the industry take the opportunity to build their teams by bringing Key Managers and Staff to the Annual Remodelers Summit.

This year, we take that to a new level by offering three content tracks; Business, Value Builder and Production, led by our own “Guru” Tim Faller. So there is literally something for every member of your team, whether they want to switch back and forth or focus on one area.

In addition, with the activities surrounding this year’s Summit, like 2 golf outings and the proximity to the Phoenix area, there are countless team-building opportunities can be combined with your Summit experience.

Register for Summit today and BRING YOUR TEAM!

Ep.155: When Will the Product Shortages End? with Craig Webb

July 1, 2021 Business Management, Financial Management, Production 00:27:04

Remodelers everywhere are plagued by problems getting the products they need to do their work.

That anguish is shared by the building materials dealers, and so many others in the industry. 

Why have we run short of so many products? What problems need to be solved for us to get out of this dilemma, and when will this shortage ease?  PowerTips Unscripted guest and lumber yard expert Craig Webb has some answers.

Craig is the President of Webb Analytics and has spent the last 15 years covering the building products supply chain and its effect on builders.  He’s one of the nation’s best-known experts on lumber and building material dealers and distributors, with 12 years of experience as editor-in-chief of ProSales magazine. 

His continued work towards tracking the trends, threats, and opportunities that make or break the futures of America’s building material manufacturers, distributors, and dealers brings the answers many are looking for, in this episode.

Victoria, Mark and Craig talk more about:

  • The state of the product shortages today
  • How the shortages developed
  • What dealers are doing about it
  • And more…

Who is Speaking at the 2021 Remodelers Summit?

The Remodelers Summit has built a reputation for having the best and brightest speakers in the industry and this year’s line-up only adds to that tradition.

From Keynotes that will literally bring you out of our seat, to industry experts and best-selling authors sharing wisdom and experience that only this Summit can deliver. You DO NOT want to miss this event!

Click Here for More Information + Registration

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Ep.150: Behavioral Finance: The Psychology of Financial Management with Jay Wheeler

April 29, 2021 Business Management, Financial Management 00:33:13

It’s not about the money, rather the feelings the money can bring.

In this episode, Jay Wheeler dives into the psychology of financial management and investing in order to provide listeners with the potential reasons behind the way they may manage money. 

Whether it’s business or personal finances, Jay describes how to better manage your behavior surrounding spending.

Jay is the President of Wheeler Financial and while he provides traditional financial planning and investment advice, he believes the best value that he provides his clients is helping manage their behavior when it comes to money.  He also believes that there is a lot that goes into the decisions we make around our finances and that many of those decisions are based on emotions.

Victoria, Mark and Jay talk more about:

  • How behavioral finance differs from traditional financial management
  • Using behavior and emotions as a guide for choosing investments
  • How behavioral finance applies to investing
  • And more…

Get on the Waitlist for the 2021 Remodelers Summit in Phoenix

We are very excited to announce that after more than a year of virtual conferences and canceled events, we are holding the Annual 2021 Remodelers Summit LIVE and In-person at the luxurious Arizona Grand Resort & Spa, in Phoenix, Arizona, on September 22, 2021. We will launch registration on May 19, 2021, but if you’d like to join our waitlist, we will guarantee you a spot at this event and offer you the lowest pre-sale special pricing of $500 off the standard registration fee. So, sign up today!

Sign For the Summit Waitlist Here

Ep.147: All About Government Renovation Loans with David Perrotti

April 8, 2021 Business Management, Financial Management 00:29:59

What are renovation loans? And how can they help the burden of new home ownership? 

Guest David Perrotti talks about using renovation loans to get deferred maintenance or dated kitchens and bathrooms remodeled prior to moving into a new home, to make for a smooth transition.

David is the President and Founder of Fine Home Contracting LLC, a general contracting management company based out of Connecticut. David is an Army Veteran turned entrepreneur whose goal is to elevate the building and remodeling industry through education of clients, subcontractors and fellow business people.

Victoria, Mark and David talk more about:

  • Why to choose renovation loans
  • Important steps in growing a business
  • The future of building and remodeling
  • And more…

You never get a second chance to make a first impression

Learn How To Increase Your Sales By Qualifying More Accurately

Remodeling companies spend enormous amounts of money on marketing & advertising to generate leads. Yet, when the phone does ring, the prospect is usually greeted by the least trained person in the company.

Masterclass: Mastering the Art of Lead Qualification is coming up in May and will be led by Sandler Sales Consultant, Jeff Borovitz. 

[Click Here for More Information + Registratrion] 

Ep.145: Double Revenue by Focusing on Less with David Wood

March 25, 2021 Financial Management, Sales 00:22:29

It’s easy to fall victim to the “Shiny Object Syndrome” in remodeling.  With so many goals of success, there are a lot of “shiny objects” that can distract remodelers from reaching their full potential.  

How do you avoid them?  Guest David Wood of Focus.CEO joins Victoria and Mark in this episode to share the five steps to success and doubling revenue in less time.

David quit his career as a Consulting Actuary to Fortune 100 companies, to create the world’s largest coaching business. He now coaches rock star entrepreneurs to double their revenue faster, overcome Shiny Object Syndrome, and be a more extraordinary entrepreneur and human. 

In this episode, David shares five simple steps to help business owners combat Shiny Object Syndrome to double business, achieve more, and be extraordinary.

Victoria, Mark and David talk more about:

  • Why the “Shiny Object Syndrome” is an epidemic among entrepreneurs
  • Why choosing the right goals and plan is so important
  • Going from “Shiny Object Syndrome” to peaceful, focused action
  • The five steps to doubling revenue in less time
  • And more…

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If you are a fan of the show and are enjoying our PowerTips Unscripted podcast, please spread the word and post reviews on iTunes and Stitcher.

Ep.139: Creating Great Compensation Programs that Help Grow Your Company with Tom Miller

February 11, 2021 Business Management, Financial Management, Human Resources 00:35:14

For many, determining the compensation for an employee is nothing more than doing a quick google search, or in our members case, maybe asking their peers what they pay a particular position.  But Tom Miller doesn’t really agree with that methodology.  Instead, his company helps businesses apply the best compensation strategies that help recruit great talent.

Tom is the founder and president of The VisionLink Advisory Group, a compensation design firm that services private businesses across North America. Tom and his firm have served over 600 companies across all industries. 

In this episode, Tom discusses how to help small businesses apply the best practice compensation strategies that help recruit great talent, encourage execution of the business plan, and growing a company.

Victoria, Mark and Tom talk more about:

  • The starting point for building a great compensation plan in small company.
  • The most common mistakes employers make relative to compensation.
  • How to build an effective incentive plan in a private business.
  • The best way to handle employees who want stock in the company.
  • Setting and managing salaries for different employees.
  • And more…this 

Ep.136: How to Build, Accelerate and Harvest the Value of a Company with John Warrillow

January 21, 2021 Business Management, Financial Management, Legal 00:35:10

Small business owners spend a lifetime building a company and have one shot at getting their exit right.

Yet waiting to pounce on this unsuspecting group is a legion of financial mercenaries, private equity predators and corporate giants set up to prey on owner’s lack of experience when it comes to mergers and acquisitions.

These financial engineers use sleazy tactics like “strategic pacing,” “re-trading,” and “proprietary deal flow” to dupe owners into selling their life’s work for pennies on the dollar.

Our guest in this episode, John Warrillow, passionately advocates owners reframe how they approach their company from thinking of it as a job to building a transferable and valuable asset.

John is the founder of The Value Builder System™, a simple software for building the value of a company used by thousands of businesses worldwide. He is a past Keynote Speaker at our Remodelers Summit and has been a guest here on PowerTips Unscripted in milestone episodes 01 and 100.

Victoria, Mark and John talk more about:

  • The selling trends that John foresees with business owners who were hit hard during the pandemic.
  • The biggest mistakes John sees owners make when it’s time to sell.
  • The evil tricks large corporations and private equity groups use to pray on inexperienced owners.
  • How owners let potential buyers know they are interested in selling without looking desperate.
  • When owners should tell their employees they are thinking of selling.
  • And more…

Take the Value Builder PreScoreTM Assessment and Discover How “Sellable” Your Business is

Whether your exit is on the horizon or years away, the PREScore™ assessment will prepare you personally for a successful transition into your next chapter while enabling your business – and your people – to continue to thrive without you. More importantly, the changes you would make to ensure your business is more “sellable” will also make it stronger and more profitable.
[Click Here to Get the Link to the Assessment]

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Ep.134: Preparing a Successful Exit Strategy with Dave Leff

January 7, 2021 Business Management, Financial Management, Legal 00:35:49

Have you given any thought to your exit strategy? How are you going to leave your business when you’re ready to retire and enjoy your remaining years?

It is never too early to start, and you should really be planning for that day, no matter how many years you have left.

There are many options when it comes to planning a successful exit and our guest, Dave Leff, joins us to talk more about his process, one that he is closing on within the next few weeks.

Dave, President/CEO of Leff Construction – Design/Build, explored a number of different options over the past five years and ultimately determined that an Employee Stock Ownership Plan (ESOP) was the direction that provided the best outcome.

Victoria, Mark and Dave talk more about:

  • When Dave first started thinking about exiting his company.
  • The main things Dave did to prepare his exit strategy.
  • The main options Dave considered for your exiting and the pros and cons of each option.
  • The decision to go with the ESOP option.
  • How an ESOP works and the benefits and challenges.
  • And more…

Do You Need Help With Your Exit Strategy?

Our business coaches and consultants at Remodelers Advantage are standing by to help you formulate your strategy. It’s never too early to start and you will find that there are many steps you should be taking now to insure a more successful exit later. [Click Here to Learn More]

Ep.132: How to Shatterproof Your Business with America’s Legal Coach

December 10, 2020 Business Management, Financial Management, Human Resources, Legal 00:29:55

There are many legal challenges that can appear suddenly for remodelers, builders and business owners.

Frivolous lawsuits, “Jekyll & Hyde” clients, predatory creditors, employment claims… you name it, it’s out there.

It is imperative to build your business on a foundation that can weather the storm so that, as our guest today puts it, it doesn’t matter.

In this episode, we talk more about the process of “shatterproofing” your business with America’s Legal Coach, Scott Reib.

Scott is the owner of ReibLaw, a full-service law firm with over 20 years of Business Law and Estate Planning experience. For the last two decades, Scott has been helping business owners, entrepreneurs, coaches, and service providers to “shatterproof” their businesses and succeed in the professional world.

Victoria, Mark and Scott cover:

  • How Scott became known as America’s Legal Coach.
  • The difference between a legal coach and a lawyer.
  • What is meant by a “shatterproof” business.
  • Why a business would need to be shatterproof.
  • The biggest legal mistakes Scott sees businesses making.
  • And more…

Share the Love and Spread the Word!

After almost 3 years and 130+ episodes, we’ve come a long way… and we thank you so much for listening. But, we’re never too proud or complacent to not ask for “the love” and to help spread the word about our podcast.

If you’re enjoying our PowerTips Unscripted podcast, please spread the word, share our episodes on social media and post reviews on iTunes, Stitcher and Spotify. We would love to hear your thoughts on our program. 

Ep.129: Are Your Employees Stealing From You? With Vicki Suiter

November 12, 2020 Business Management, Financial Management, Human Resources 00:26:28

The latest statistics on fraud should be a wake-up call for every small business owner. According to a survey by HISCOX, a specialty insurance company, 80 percent of embezzlements occurred at small businesses and 30 percent involved a loss of more than $500,000.

With more work is being done remotely, including paying vendors and processing payroll, you must have controls and processes in place to avoid this happening to you.

In this episode, we welcome Vicki Suiter, who shares simple practices and processes to help you avoid accounting fraud and stealing in your business.

Since starting Suiter Business Builders in 1990, Vicki has helped hundreds of contractors and designers build solid foundations for their businesses, run operations more efficiently, and achieve the kind of success they never dreamed possible.

Vicki’s articles and opinions have been widely shared in print and across the web. She is also the author of book “The Profit Bleed” – How managing margin can save your contracting business.

Victoria, Mark and Vicki talk more about:

  • Why small businesses are targets in 80% of all embezzlement cases.
  • The most common place where people “steal” money.
  • Other ways employees and contacts embezzle funds from a company that are less obvious.
  • Recommended controls and practices a contractor should have in place to avoid this happening to them.
  • “10 Ways to Spot Accounting Fraud”

Here is the link to the resource mentioned, “How to Spot Accounting Fraud”
https://suiterbusinessbuilders.com/how-to-spot-accounting-fraud/

Check out Vicki's Book; The Profit Bleed

This book is a doable, step-by-step guide that will put money in your pocket, and more time and fun in your day. Learn how to keep your finger on the critical pulse points that drive success, depend on your employees to take ownership, close more deals while charging more money, and more! [Click Here to check out Vicki’s book on Amazon]

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MASTER NAVIGATION

This website is part of the Remodelers Advantage Network.

Visit our other properties: