The Cash Flow Contractor

Imagine finding a $600K error in your books! Cory Parks shares his journey from near disaster to business revival. You don’t want to miss this!

Time Stamps

• 00:45 - Episode & Guest Intro
• 03:25 - Cory's Business Journey
• 07:28 - Financial Struggles and Solutions
• 11:41 - Management Team and Roles
• 16:44 - Cory's Profit Problem
• 22:14 - Cory's Financial Literacy Journey
• 30:31 - CRM and Bookkeeping Challenges
• 31:56 - Automating QuickBooks Integration
• 32:22 - Identifying and Solving Duplicate Entry Issues
• 33:31 - Leadership and Financial Challenges
• 34:58 - Implementing Salary Cuts & Transparency
• 36:52 - Rebuilding Financial Stability
• 37:49 - The Importance of Trust and Transparency
• 39:02 - Navigating Financial Statements
• 42:42 - Learning from Mistakes and Seeking Guidance
• 53:18 - Transitioning from Cash to Accrual Accounting

Snippets from the Episode

• “I have made every single mistake that Martin talks about in his book.  Every single one of 'em!” -Cory Parks
• “We were doing well, but we kept  coming back to our books.” -Cory Parks
• My income statement is telling me that we are absolutely killing it. We're making $600,000 profit, but  where is the money? - Corr Parks

Resources

What's the goal behind your goals? Discover how asking the right questions can guide your business toward success. Tune in as we dive deep into why tracking accomplishments can transform your mindset and business!

Time Stamps

• 01:15 - Episode Intro
• 03:32 - The Importance of Tracking Accomplishments
• 07:46 - Journaling and Tracking Progress
• 11:44 - Utilizing Voice Memos
• 12:49 - Tracking Accomplishments
• 18:31 - Setting and Achieving Goals
• 26:02 - Understanding the Pomodoro Method
• 28:26 - Delegating Responsibilities in Business
• 31:14 - Effective Task Delegation and Communication Tools
• 31:57 - Improving Workplace Communication

Snippets from the Episode

•  You don't have to do journal writing literally. I oftentimes just pull out voice memos, especially when there are big events. I just pull up a voicemail and start talking, go on a walk, and start talking. -Khalil
• People will ask you questions as long as you allow them to. -Martin
• What really matters to people more than anything else is that they make progress toward a meaningful goal. -Martin

Resources

Luke Boyenger, Expert Fractional CFO, joins Martin & Khalil to discuss cash efficiency, the smart use of lines of credit, SBA loans, building strong banking relationships, and more!

Time Stamps

• 01:54 - Episode & Guest Intro
• 02:08 - Exploring AI in Financial Analysis
• 05:53 - Cash Series Recap
• 07:11 - Building and Managing Bank Relationships
• 14:33 - Understanding Line of Credit
• 20:29 - Navigating SBA Loans
• 25:18 - Treasury Management
• 28:30 - HELOC Loan
• 31:25 - Identifying Red Flags in Your Business Model
• 32:50 - Maximizing Cash Efficiency
• 36:19 - Common Cash Leaks and How to Fix Them
• 38:50 - Maintaining Healthy Cash Reserves
• 50:35 - Episode Outro

Snippets from the Episode

•  There's just this misconception in the business world that it's not possible to feel comfortable - bull crap. That is not the way business is supposed to work.
• If you're going to go into business, don't put your personal financial health at  risk. Have the intellectual honesty to admit to yourself that if a bank or even a third party lender will not give you SBA funding for your business,  that's kind of a red flag that maybe this isn't the business you should even be pursuing in the first place.
•  You do not have to fly blind. You do not have to trust your gut. You can run a data-driven business.

Resources

Struggling with employee turnover? Discover 6 practical strategies to keep your construction workforce satisfied and loyal. Join Carrie Gardenhire and Khalil Benalioulhaj for a deep dive into this critical topic!

Time Stamps

• 02:08 - Episode & Guest Intro
• 03:04 - The Importance of Employee Retention
• 09:05 - Morning Huddles: Starting the Day Right
• 15:06 - One-on-One Meetings: Building Personal Connections
• 22:22 - Employee Gatherings: Fostering a Strong Culture
• 29:37 - Implementing Workplace Communication Tools
• 34:04 - Break Room
• 40:27 - Tool or Apparel Allowance
• 44:05 - Retention Strategies Recap
• 46:38 - More About Carrie Gardenhire & Arcoro

Snippets from the Episode

•  ” Over 90% of contractors look to hire over the next year. But wouldn't it be great if you weren't having to backfill?” - Carrie Gardenhire
• “ People don't want to leave where they really feel valued.” - Carrie Gardenhire
• “Put your dollars for something that you're excited about rather than something that you're dreading, right?” - Khalil Benalioulhaj

Resources

Unlock the secrets to mastering cash flow! Learn from expert Jakob Kirschner and transform your business with a step-by-step tutorial and a free template.

Time Stamps

• 02:52 - Episode & Guest Intro
• 03:35 - Importance of Cash Flow Forecasting
• 05:25 - Setting Up Your Cash Flow Forecast
• 08:17 - Detailed Walkthrough of Cash Flow Forecast
• 23:41 - Starting with Income Projections
• 26:03 - Adjusting Cash Flow and Payment Terms
• 30:43 - Impact of Marketing and Materials Orders
• 37:14 - Working with a Fractional CFO
• 44:15 - Episode Takeaways

Snippets from the Episode

•  ”Don't just set some arbitrary business goals. Think about what it's important to you in your private life, like family, spouse, hobbies, and it has to be tied together. Because if you have a business goal that doesn't match your personal goals, then you just get frustrated and burnt out.” -Jakob Kirschner
•  ”Sales and profit are food and water. Cash is oxygen.” -Martin Holland
• “The three most important numbers in business are cash on hand, cash you know is coming in, and cash you know is going out.” -Martin Holland

Resources