45 min listen
Managing Cash And Crews: Surviving A Recession In The Construction Industry
Managing Cash And Crews: Surviving A Recession In The Construction Industry
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)
Trust: How Contractors Build and Maintain it Throughout a Project Life Cycle: The biggest challenge in the construction industry is building trust with your customers. Without trust, there is always a skeptical customer. This leads to delays in projects, headaches and keeps you further away from growth. ... by Construction Genius