His project manager walked off the job, 22 open jobs waiting to be completed, negative net profit,  unhappy clients, and a team that’s been reduced after the PM quit on him — Matt, a third-generation contractor from Massachusetts, is facing some major business challenges. Tom sits down with Matt to find a way out of this tough situation.

Episode Highlights:

[00:00] - Intro

[00:19] - Matt’s background and business overview

[00:38] - The project manager walked off the job

[03:40] - Strategy to tackle these challenges

[06:20] - Communicate with clients, even when the news isn’t good

[07:20] - Focus on finishing one project at a time to avoid profit leaks

[11:03] - Managing the remaining team after some crews left

[14:32] - Tom’s experience with a similar situation

[17:04] - Reverse engineering projects and setting daily milestones

[18:55] - $1.5 million in pending projects

[19:34] - How the situation is affecting both his business and home life

[22:48] - Leadership shortcomings that led to this situation

[24:12] - The importance of hands-on leadership and accountability

[26:40] - Non-negotiable commitments Matt must make 

[31:15] - Focusing on man hours and targets

[32:50] - Tom’s 20 steps to a successful project

[35:14] - Impact of his current business on sales

[41:31] - Training the team to solve problems independently

[44:11] - Matt’s plans to hire a new project manager

[47:07] - Biggest takeaways from the conversation

[49:40] - Closing remarks

Resources:

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Mentioned in this episode:

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