Ready to kick off your construction biz in 2024? Join Martin & Khalil in this episode for some practical tips on starting your own construction business. They spill the beans on what works, what doesn't, and how to dodge the common pitfalls. Whether you're a construction pro or just dipping your toes, this episode’s got the lowdown to get your construction venture off the ground. Don't miss out – hit play!
Time Stamps
- 00:47 - Martin's Holiday Party
- 02:29 - Starting a New Construction Business in 2024
- 03:37 - Go Do a Job
- 05:11 - Build In Margin
- 05:52 - Pay Attention to What You're Doing
- 06:46 - Understanding Customer Needs and Asking for Feedback
- 07:50 - Define the Scope of the Project & Stick to It
- 08:31 - Pay Attention to What You Enjoy Doing
- 09:15 - Avoid Buying Things You Do Not Need
- 11:09 - Don't Take a Loan Out
- 11:52 - Secure a Deposit Before Getting Started
- 12:30 - Don't Take a Draw in the Job
- 13:57 - Don't Overpromise
- 14:22 - Track the Customer's Funds
- 15:22 - Final Thoughts and Advice for Aspiring Entrepreneurs
- 17:25 - Episode Outro
Quotable Moments from the Show
- "Go get a job. Go pour a patio. Go build a pergola. Go get it done. And then you start to understand where all the things that you hadn't really thought about rear their ugly head." - Martin Holland
- "Some things happen gradually. Don't try to speed through time and fast forward. Do it step by step." - Khalil Benalioulhaj
- "If you're gonna go do that job, charge more than you probably think initially." - Khalil Benalioulhaj
- "Don't wind up coming out the other end and not have learned anything." - Martin Holland
- "You don't add any value. You add cost. Your customer either determines there's value there or not." - Martin Holland
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Resources
- Need Marketing Help? We Recommend Benali
- Need Help with podcast production? We recommend Demandcast
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What is The Cash Flow Contractor?
If you’re like most contractors we know, then you started your business because you’re passionate about and great at your craft. You also wanted to be your own boss. Owning a business has a lot of advantages, but also a lot of challenges.
We started this podcast to talk about things that matter to you as an owner, like business fundamentals, sales processes, marketing, leadership, and much more. Armed with knowledge, you’ll be able to reach your goals, whether that’s growth, getting your shop to run without you, or anything in between.