In this Q&A episode of Beers with Contractors, hosts Will and Terry gather for a lively discussion, reflecting on their recent outing to a wine and craft festival in Guthrie, Oklahoma. They provide a comprehensive discussion on various aspects of the construction and contracting industry. They cover critical topics such as invoicing, payment terms, handling customers that ghost after project completion, and the pros and cons of using lead generation tools. Additionally, they tackle the tricky subject of when to buy versus rent equipment, managing tool inventory, and best practices for working with younger employees. The episode features practical advice, amusing anecdotes, and emphasizes responsible business practices and continual learning.

00:00 Introduction

05:02 Q&A Session Begins

06:02 Invoicing and Payment Terms

10:47 Project Financing and Overhead Costs

19:03 Financial Education and Business Insights

25:47 Financing Long-Term Projects

33:01 Understanding Sales and Cash Cycles

33:45 Inventory Management Tips

34:53 Dealing with Ghosting Customers

41:06 Lead Generation Tools: Pros and Cons

43:50 The Power of Branded Fleets

51:02 Renting vs. Buying Equipment

55:08 Managing Tools and Inventory

01:03:00 Paying Employees for Travel Time

01:05:12 Working with the Younger Workforce

01:11:17 Conclusion

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