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In this episode of the Contractor's Profit Hack Show, Jeremy Lott discusses the importance of having a strategic approach to paying bills for construction companies. Drawing from a personal anecdote about a rockhounding expedition that led to a lesson in priorities, Jeremy emphasizes understanding the repercussions of not paying specific bills. He explains how to prioritize payments to ensure business survival, focusing on the criticality of paying labor and suppliers over banks. This is the first step in a comprehensive bill pay strategy, with more details to follow in the next episode.
00:00 Introduction and Background
00:24 Welcome Back to the Contractor's Profit Hack Show
00:54 The Importance of a Bill Payment Strategy
01:40 Rockhounding Adventure: A Lesson in Prioritization
08:28 Applying the Lesson to Bill Payments
12:16 Conclusion and Next Steps