The Vision of The Construction Cashflow Podcast is to revolutionise the construction industry by sharing real-life stories and valuable experiences that inspire change and create sustainable communities.
Our Mission is to share inspiring stories from individuals working in the construction industry, breaking down the supply chain and uncovering the truth about what motivates and drives success. By imparting wisdom and knowledge, we aim to inspire change and transform the industry, leading to improved cash flow and greater wealth creation and well-being for all. Our ultimate goal is to foster regenerative and sustainable communities that benefit both people and the planet.
Construction cash flow has been a major problem for 400 years and it hasn't changed much since the times when St. Paul's Cathedral borrowed funds from St Peter's Cathedral to pay for its building works; it's where the saying "Robbing Peter to Pay Paul" comes from.
There are many factors that affect cash flow in construction from unfair contract terms, cash farming, poor record keeping, poor quality, delays, missed application dates, slow payment culture, low working capital, contractors handling other people's money, the list goes on. However, one thing is for sure, whatever the reason, the consequences can be serious for the myriad of small business owners that make up the construction supply chain. Tragically, insolvency, mental health, suicide, and family breakdown are some of the knock-on effects of the slow payment culture tradition in construction.
In this episode, Stu interviews Paul McDevitt, where Paul shares his story of how he got to where he is now and what inspires and motivates him.
We also discuss business strategy and the importance of understanding your value and doing your due diligence on your client. Paul started out in economics and finance but soon switched to construction where he held many senior positions including Regional Marketing Manager for Mansell back in the day. Paul went on to become an expert in business turnarounds, marketing and business strategy. He now runs the 'Positive Action Club', a support network for business leaders and professionals in construction and other sectors.
I hope you enjoy the show.
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