Summary:In this episode of Success Unleashed, host Garrett Bake shares strategies for contractors to manage their cash flow and escape the 'rich on Monday, broke by Friday' cycle. Garrett emphasizes the importance of having solid payment terms in contracts, charging for change orders, and maintaining a cash reserve to ensure business stability. He offers practical advice on how to stop cash flow issues from derailing a business by implementing straightforward financial practices and leveraging credit options. This episode is a must-listen for any contractor aiming to grow and sustain a profitable business.
📂 What’s in this episode:
00:00 Introduction: Success Unleashed
00:27 The Cash Flow Rollercoaster
01:20 Identifying the Real Problem
01:31 Solving Cash Flow Issues
05:38 Importance of Payment Terms
10:22 Building Financial Reserves
12:29 Practical Financial Strategies
14:04 Conclusion: Join the Bill Pro Community
Suggested Videos:📹 Proven Strategies to Grow Your Contracting Business https://youtu.be/f9NE7ia7gDA?si=A3JFa1cus-CgnBS9📹 Is One Bad Hire Threatening Your Business? https://youtu.be/A0waQvno7Ms?si=-qmq9iXTdIU4GO5w📹 Is Your Contracting Business Costing You Your Family Life? https://youtu.be/G1KDIy4Q_Yk?si=KwyfkaTNQjSA8fAR📹 Why Hustling 60+ Hours a Week is Destroying Your Contracting Business https://youtu.be/vOC1OTdUzAo?si=f2-yw77QbbzE7cfu📹 From Hustling Alone to an 8-Figure Business: The Contractor’s Blueprint for Success https://youtu.be/NLvYE_jy9Ss?si=F5iMDs8DtcVU4TKxContact & Social Media:American Contractor Network: https://www.americancontractornetwork.com/Instagram:https://www.instagram.com/gerrittbake/Facebook: https://www.facebook.com/gerritt.bakeSubscribe me to my YouTube channel https://www.youtube.com/@UCewWukVmYzA7_fCVv4-UnKQThanks for watching my video! Stay tuned for more high-quality content that could change your life.
