Welcome back to another episode of Success Unleashed! I’m Gerritt Bake, and today we have a unique guest who brings a wealth of knowledge from both the contracting and financial worlds. While he isn’t a contractor anymore, his experience and insights are invaluable to anyone in the industry. Our guest today is Jeremy Dean, the former owner of a successful landscaping business who has now become a master of cash flow and accounting for contractors. Let's dive in!
Key Highlights:
🚀 From Contractor to Cash Flow King: Jeremy spent 15 years running a landscaping business before transitioning into accounting. His journey is inspiring, showing how struggles can lead to new paths. He became frustrated with cash flow issues and the lack of understanding around finances, leading him to pursue a master's degree in accounting. Now, he’s known as the "Cash Flow King."
🚀 Understanding Financial Struggles: Jeremy shares his story of dealing with financial challenges, including a bankruptcy during the 2008 recession. His candid discussion reveals how many contractors struggle with similar issues and the importance of understanding cash flow and financial health.
🚀 Importance of Financial Knowledge: Jeremy emphasizes the need for contractors to understand their costs, pricing, and cash flow. He explains that many contractors fail to price their jobs correctly because they don't account for all their overhead costs, leading to financial instability.
🚀 Strategies for Financial Health: Jeremy provides practical advice on how to manage finances effectively. He talks about the importance of separating personal and business finances, knowing your costs, and setting aside profit first. This method ensures that you always have money set aside for profit, rather than spending it all on expenses.
🚀 Lessons from Wrestling: Jeremy's background as a college wrestler taught him the importance of mastering the basics. This lesson translates to business, where mastering fundamental skills and having solid processes in place are crucial for success.
Episode Insights:
Jeremy’s journey from contractor to accountant is a testament to the power of perseverance and the importance of financial literacy. As contractors, it’s easy to focus on the work and neglect the numbers, but understanding your financial health is essential for long-term success. Jeremy’s story highlights common pitfalls and provides actionable strategies to avoid them.
Whether you're struggling with cash flow, trying to price your jobs correctly, or simply looking to improve your financial knowledge, this episode is packed with valuable insights. Jeremy’s practical advice and relatable story make complex financial concepts easy to understand and apply.
Call to Action:
If you're ready to take control of your finances and ensure the stability and growth of your contracting business, tune in to this episode and learn from Jeremy's expertise. Remember, success starts with mastering the basics and being honest about your financial situation. Don't let financial struggles hold you back – take the first step towards financial health today.
Connect with Us:
If you found value in this episode, don’t forget to subscribe to Success Unleashed for more inspiring stories and expert advice. Drop a comment below with your thoughts and questions – your feedback helps us bring you more of what you need to succeed. Let’s continue to grow and learn together.
If you're a contractor ready to learn how to run your business instead of having your business run you, head over to www.americancontractornetwork.com and schedule some time to jump on the phone with us to see how we can help you make it happen.
