Want to build a construction business that runs without you? In this episode, Aaron Mills shares how accurate financials and strategic systems can transform your company from owner-dependent to highly valuable and sellable. Learn how one electrical contractor grew from $30M to $90M in four years while the owner reduced his involvement from 60 hours to just a few hours per week.

What You’ll Learn

• How to transform messy financials into strategic tools for growth
• The importance of WIP schedules and how they reveal hidden profit opportunities
• Why pricing increases often meet less resistance than you expect
• How to strategically remove yourself from day-to-day operations
• The exact systems needed to triple net profits while working less

Time Stamps

• 00:55 - Episode Intro
• 02:32 - Financial Resource Optimization
• 04:15 - Challenges in Construction Financials
• 05:29 - Case Study: Electrical Contractor
• 06:48 - Growing Broke: Understanding Revenue Pillars
• 14:21 - Controller vs CFO: Roles and Responsibilities
• 22:25 - Exiting the Business and Personal Success Stories
• 28:51 - Understanding the WIP Schedule
• 31:41 - Dissecting the WIP Schedule
• 36:03 - Training Project Managers
• 44:28 - Challenges in Implementing WIP
• 46:03 - The Importance of Systems
• 49:16 - Daaxit’s Free Strategy Session
• 50:30 - Core Values and Asking for Help
• 50:55 - The Story Behind Daaxit
• 51:47 - Episode Outro

Snippets from the Episode

• "If your financials are on a roller coaster month to month—if you're making a whole bunch of money one month and losing a whole bunch the next—then your financials are inaccurate and you need some help."— Aaron Mills
• "When you're going to sell your business, it's so much more attractive if you're not in the business running it every day. You want a business that operates by itself."— Aaron Mills
• "A controller's reporting the history; the CFO bridges the history to the future with the business owner and the vision."— Aaron Mills
• "I just took my first two weeks off. I didn't answer my phone. This spring, this summer, I've been going to my kids' sporting events for the first time ever, and I have the best relationship with my wife ever."— Construction Business Owner (Client Success Story)

Key Takeaways

• Your financials should be strategic tools, not just tax documents
• WIP schedules reveal hidden profit opportunities when properly analyzed
• Raising prices on unprofitable clients is often easier than you think
• Building a business that runs without you increases its value dramatically
• Different revenue levels ($5M, $10M, $20M+) require completely different systems
• Project managers need monthly financial reviews to maintain profitability
• A business that runs without you provides both financial and personal freedom

Resources

• ⁠24 Things⁠ Construction Business Owners Need to Successfully Hire & Train an Executive Assistant

• ⁠Schedule⁠ a 15-Minute Roadblock Call

• Check out⁠ OpenPhone⁠

• Build a Business that Runs without you. Explore our⁠ GrowthKits⁠ 

• Need Marketing Help? We Recommend⁠ Benali⁠

More from Martin Holland

• ⁠theprofitproblem.com⁠

• ⁠annealbc.com⁠   

• ⁠Email Martin⁠

• ⁠Meet With Martin⁠

• ⁠LinkedIn⁠

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• ⁠Instagram⁠

More from Khalil

• ⁠benali.com ⁠

• ⁠Email Khalil⁠

• ⁠Meet With Khalil⁠

• ⁠LinkedIn⁠

• ⁠Facebook⁠

• ⁠Instagram⁠

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