This Podcast Is Episode Number 0247, And It Will Be About Why Did You Open Your Construction Contractor Company What is that old saying? “It Is Always Greener On The Other Side Of The Road”(author unknown) It is always easier to look in hindsight and think “I should have done this” or “I could have done that” All the advice from others about what you should of, could of, did do didn’t do is easy for the person who did not actually make any of the decisions. Some people excel at “Advising Not Actually Doing.” You can’t change yesterday; only do a review and think about What Can I Do Today? And How Can I have a better tomorrow? Tiny changes can make a big difference. You can FIX SOMETHING and do nothing is a decision. (Sometimes taking a pause is the right decision to make) The answer is Think, Plan, Do Something (Make a Plan, Work the Plan) or (Be, Do, Have). Sound familiar from listening to any of the sales messages and webinars from the famous sales organizations of 70’s, 80’s or 90’s. Anyone who has had a sales position and paid on commission knows it is never as easy as the sales manager said it would be. Very few people become successful with little or no effort. For the rest of us, it takes work.     However, some things are very basic and never change. Want to lose weight? Doctors answer is three very simple things to do and they don’t cost a lot of money. The Doctor’s answer never changes.   Step 1:  Eat Less   Step 2:  Exercise More   Step 3:  Repeat.   Why did you decide to become a Construction Contractor? Fast Money Easy Work Few Hours Yes, Contractors can make a Lot of Money as a Construction Contractor. Fast is a relative term. Definition of Fast Money Collecting a job deposit is designed to Lock down the job, buy material. It is always a good idea to use your client's money to start the job. That doesn’t mean you have money to Party Hearty, buy a bunch of tools or that brand new truck you want. In other words, spend the money as fast as it comes in.     With normal business expenses, the money will fly out of the checkbooks without any extra help.   If you spend your job deposits in this manner, you get into a cycle of “Borrow from Peter to pay Paul.” (author unknown) A favorite phrase of the 60’s and 70’s. Older country music fans will remember Merle Haggard’s If We Make It Through December.  https://www.youtube.com/watch?v=U9TByT3QlWc What do I mean? When you use the next job deposit to pay for the expenses of from the last job that is a slippery slope to financial disaster. Another common phrase is “Leverage Is Great Until The Stick Breaks.” Or the child’s game of musical chairs.   When the music stops, someone is without a chair. The same thing happens when the economy turns as it did in 2008. Contractors were thinking (and hoping) the recession would be a small dip and everything would be back to normal by summer of 2009. That is not what happened for most construction contractors. Some construction contractors had lots of work in the pipeline that was not affected by the recession. Many of them were cocky and thought other contractors are having a hard time “Just didn’t know how to run a business” Unfortunately, those same contractors were hurt badly when their pipeline of jobs ran out. Definition of Easy Work Easy work is any job that you know how to do easily. To a chef, Thanksgiving Dinner for twenty or more is a simple task. To a college student living in a dorm, shared apartment it might be an impossible task. Easy work for a highly skilled craftsman picking up a piece of wood and working with it. We went to the fair and saw the wood carvers. The skills the Woodcarvers used to make a recognizable object using a chainsaw is amazing. Truly a case where people can watch them work for hours seeing the magic. Definition of a Few Hours Yes, Construction...