Lessons Learned on Managing the Numbers in Your Contracting Business

success in business Aug 23, 2024

In our latest episode, I had the pleasure of speaking with Jeff Graf, the owner of Fence Connections and Majestic Fence, as well as his accountant, Rosina Barkman. The conversation centered around the importance of managing the financial side of your contracting business - something that I'll admit has been a constant challenge for me over the years. Like many contractors, I started out focused solely on the work, without giving much thought to the numbers. It wasn't until I nearly went bankrupt that I realized the critical role that financial management plays in the success of a business. Listening to Jeff and Rosina discuss their approach to project-based accounting, overhead recovery, and cash flow projections was a real eye-opener. Rosina emphasized the importance of creating accurate estimates that account for all costs, including overhead and a healthy profit margin. She also stressed the need to track expenses in real-time, rather than waiting until the end of a job to assess...

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Success Takes Time but is Within Reach

success in business Oct 06, 2023

On this episode of the Kid Contractor Podcast, Caleb and Brittany Auman discuss the misconception that success happens overnight. They debunk the idea of the "overnight success" and emphasize that achieving business goals is a marathon, not a sprint.

Caleb shares his experience building his landscape company over 20 years through diligent work, financial discipline, and an ongoing commitment to learning. He acknowledges that the visible signs of success, like owning paid-for equipment and a large shop, are only possible because of the foundation built below the surface through savings, investing in skills development, and handling challenges along the way.

Brittany adds that focusing on continuous self-improvement through industry events, training programs, and online resources can help expedite progress. However, they stress that real success is the result of a long-term mindset and grinding through difficulties without giving up.

The Aumans encourage listeners at any stage...

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