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Ladies with Tradies - WORKIN' THE TRADE, LIVIN' THE LIFE!
Grab a cuppa, or go through the coffee drive through, press play and buckle up Tradie business owners! We will cover things in this podcast that don't shy away from the raw honest truth about business. It is hard, it is raw, and we also wanna deliver you all the tips and tricks you need to learn about business too.
IN LOVE: How are you trekking in your relationship as a couple in business? Are you respecting each other? Are you finding it hard to toe the line between business and home? Do you squabble like husband and wife like you do at home when you are in 'work mode?' It is not easy to maintain a relationship and business at the same time. But the relationship should be #1 at all costs! Learn how to improve on this.
IN LIFE - do you have one or is your business taking over? Many couples need permission to actually have a life. The tradie thinks if he doesn't work he doesn't get paid - but you need some semblance of balance too. So how do you strike it?? First you need to be clear about what you want and how you want your life to look both now and into the future. Otherwise - you can just wander aimlessly with no real plans as to what you want your business to provide.
Ladies with Tradies - WORKIN' THE TRADE, LIVIN' THE LIFE!
SAM & LAURA SIMS: BALLAN BUILDERS: VOLUME IS VANITY, PROFIT IS SANITY
'VOLUME IS VANITY - PROFIT IS SANITY' (stolen Sam thanks!)
In this episode we ask some awesome questions to reveal all the juicy strategies that our amazing clients Sam & Laura from Ballan Builders use to keep control of thier cashflow, ensure their schedule creates ease of cash management, and some cool little tid bits like how they just enjoyed the best holiday of thier lives!
Here's what we ask them - so buckle in - you are going to GET SO MUCH out of this one! They nailed it!
1. Tell me about Ballan Builders - what year did it start? How many work in the business? What do you do?
2. This month is all about money management, and in particular, today I want to talk to you guys about choosing the right work, for the right profit, and scheduling it in to maximise cashflow. Tell me guys - when it comes to all of these things - how did you used to manage cashflow 2 years or more ago? What challenges did it present? (lumpy cashflow, not knowing what money you needed when etc)
3. What were some of the first things you did to change your cashflow position in your business? What are some things that made it turn around?
4. Sam, how did you manage the schedule in the past when it came to cashflow? Laura, what was your role in this?
5. Tell me about top line finance in your 'old' business world - what does the 'Volume is vanity, profit is sanity' saying mean to you? What were the ramifications of choosing to look at how much revenue you make vs how much profit you make?
6. What financial activities do you do now Sam & Laura in order to feel more in control of your building business cashflow? (break even, KPI data etc)
7. What about the types of work you take on? Did you always plan this? If not, what do you do now that assists your cashflow? (schedule and plan for when cash comes in instead of just moving round jobs with no direction)
8. How has this assisted your staff also? What do you do to support them in being organised and knowing the plan in order to deliver on timelines?
9. Your business has turned around it's average Net profit by 25% in the last 4 months, that is HUGE guys - people in building can only dream of NP that good. What other choices have you made that have improved your cashflow and net profit?
10. If you could give a gem to business owners out there about not going with volume and vanity - what would you tell them?
This one is a winner!