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Managing Cash And Crews: Surviving A Recession In The Construction Industry

Managing Cash And Crews: Surviving A Recession In The Construction Industry

FromConstruction Genius


Managing Cash And Crews: Surviving A Recession In The Construction Industry

FromConstruction Genius

ratings:
Length:
50 minutes
Released:
Jan 30, 2024
Format:
Podcast episode

Description

Building a resilient construction business is not about surviving the storm, it's about managing cash and crews to thrive through any challenge, even a recession. In this episode, Scott Peper joins us to discover the challenges and opportunities faced by the construction industry, especially in the turbulent waters of a recession. Scott explores the survival strategies needed for construction businesses, big or small, to weather a financial storm and venture afloat when facing a recession. He explains why cross-training your teams across various services is a vital aspect of business resilience. He also lists down the dos and don'ts when managing financial crises in construction, from the risks of taking new debt to the importance of having cash reserves. Scott plugs in his book, "The Big Book of Cash Flow," which helps understand the financial side of your construction business. Uncomplicated, informative, and full of practical advice, it's a must-read for anyone looking to strengthen their financial acumen in construction. Tune in now and learn how to keep your construction business afloat, no matter the weather.   Buy Eric's Book: Construction Genius: Effective, Hands-On, Practical, Simple, No-BS Leadership, Strategy, Sales, and Marketing Advice for Construction Companies https://www.amazon.com/Construction-Genius-Effective-Hands-Leadership/dp/B0BHTRDY1T/   Get Coaching with Eric: www.constructiongenius.com/contact  
Released:
Jan 30, 2024
Format:
Podcast episode

Titles in the series (99)

Thomas Edison said, "Genius is 1% inspiration, 99% perspiration." This show interviews hard-working construction company owners and executives who share their wisdom, perspectives, and lessons learned from decades of experience bidding, planning, and building profitable projects. Topics include leadership, strategic planning, conflict resolution, niche identification, succession planning, talent management, business development, and business growth. Industry expert, Eric Anderton also shares his insights about how construction company owners can increase project profit by improving communication, running productive meetings, and attracting, developing, and retaining talented leaders. Tune in each week and get practical inspiration for how to build people, projects, and profits. "I know of no genius but the genius of hard work." John Ruskin