https://www.foundationacs.com/

https://www.bluecollarconnect.com/

In this episode of the Contractor's Profit Hacks Show, I am thrilled to welcome Joe Mikitish and Mark Hansen from Blue Collar Connect. We dive deep into Joe's entrepreneurial journey and how Blue Collar Connect is pioneering a unique masterminding and networking platform exclusively for blue-collar businesses. Joe shares his extensive experience from running multiple businesses to forming Blue Collar Connect, and Mark discusses his rich family history in the electrical contracting industry. We explore their innovative strategies for business growth, customer acquisition, team building, and wealth creation. Our guests reveal successful tactics that have significantly impacted their members in a very short period. We discuss the challenges blue-collar businesses face and how their model flips the narrative, bringing value and respect back to these industries. If you're a blue-collar business owner looking for transformative ways to grow your business and achieve financial freedom, this episode is a must-listen.

00:00 Introduction to the Contractor's Profit Hacks Show

00:30 Meet the Guests: Joe Mikitish and Mark Hansen

01:26 Joe's Journey: From Tech to Landscaping and Beyond

04:05 The Birth of Blue Collar Connect

06:41 Mark's Background: From Electrical Contracting to Real Estate

11:45 Challenges and Successes in Blue Collar Connect

14:59 Transforming Blue Collar Businesses

30:25 The Importance of Hiring the Right Team

37:46 Teaching Cash Flow Strategies

38:03 Implementing Payment Plans

38:37 Phases of Wealth Building

38:45 Acquiring Other Businesses

39:23 Private Equity Insights

45:18 Teaching Financial Freedom

48:31 Success Stories and Testimonials

01:03:34 The Value of Quality Service

01:09:02 Joining Blue Collar Connect

01:10:19 Conclusion and Next Steps

https://www.foundationacs.com/In this episode of The Contractor Profit Hackz Show, I share a funny story from my eighth grade days with a hypnotist — and how it taught me the power of focus. From there, I connect it to your business: what you choose to focus on (your WHY) is the key to building a budget that actually works. You’ll learn about the “Five Whys” method I use with clients, and how it helps you drill down to what really matters in your business — whether that’s freedom, family, or financial security. 👉 If this episode resonates with you, don’t forget to like, subscribe, and share it with a fellow contractor who needs a little profit hacking in their life. 00:00 – Intro to The Contractors Profit Hack Show 00:30 – Why I left construction for accounting 01:10 – Story: the hypnotist and the power of focus 04:20 – How focus applies to your business 05:10 – Budgeting differently at Foundation Accounting 06:05 – Discovering your WHY 07:20 – The “Five Whys” method explained 09:40 – How your WHY drives motivation and results 11:00 – Wrap-up: Go find your WHY 11:45 – Closing thoughts & next steps

https://www.foundationacs.comIn this episode I discuss effective bill pay strategies specifically designed for construction company owners. Drawing from my own experiences, including a memorable high school wrestling match, I emphasize the importance of changing old habits and adopting a strategy that aligns bill payments with incoming cash flow, prioritizing critical expenses and profit allocation. By communicating with vendors and using profits to manage old debts, we can ensure ongoing cash flow stability and business sustainability. Tune in to learn more about protecting your cash flow and making financially responsible decisions.00:00 Introduction to Jeremy Lott and His Mission00:24 Welcome Back to Contractor's Profit Hacks Show00:31 Bill Pay Strategy: Common Concerns01:21 A Wrestling Story with a Lesson08:22 Implementing the New Bill Pay Strategy11:42 Final Thoughts and Encouragement12:02 Closing Remarks and Call to Action

https://www.foundationacs.com

Jeremy Lott, Chief Visionary of Foundation Accounting and Consulting, shares strategies for improving cash flow and implementing an effective bill pay strategy specifically for construction company owners. Drawing from his personal experience, Jeremy discusses analyzing bills, prioritizing payments, and focusing on cash flow over debt. He explains how using accounts, lines of credit, and credit cards can extend cash flow. Jeremy emphasizes the importance of maintaining mechanic's lien rights to ensure payment and protect cash flow, offering insights on best practices and the benefits of these financial tools. This episode includes practical tips and personal anecdotes to help construction businesses grow responsibly and profitably.00:00 Introduction and Personal Background00:35 Developing a Bill Pay Strategy02:01 The Importance of Using Tools07:01 Accounts and Cash Flow Management12:07 Mechanic's Lien Rights18:49 Conclusion and Final Thoughts

https://www.foundationacs.com

In this episode of the Contractor's Profit Hack Show, Jeremy Lott discusses the importance of shifting the mindset surrounding debt, especially for construction company owners. He shares personal stories from his landscaping days, illustrating the crucial lesson of prioritizing customer needs. Jeremy emphasizes the outdated pension mentality on debt and argues for viewing debt as a tool to enhance cash flow. He critiques traditional financial advice, specifically from figures like Dave Ramsey, and explains why focusing on cash flow rather than the amount of interest paid is essential for modern business growth. The episode culminates in practical bill pay strategies and a teaser for the next episode on protecting your financial strategies.00:00 Introduction and Background01:06 The Big Landscaping Project03:22 Lessons Learned in Business04:21 Understanding Debt and Financial Mindsets08:13 Reevaluating Debt in Modern Business11:08 Practical Debt Management Strategies14:16 Conclusion and Next Steps

https://www.foundationacs.com

In this episode of the Contractor's Profit Hack Show, Jeremy Lott shares insights on creating an effective bill pay strategy by emphasizing the importance of prioritizing expenses to ensure business survival. He shares a personal story about his wrestling career and sacrifice for his faith to underscore the importance of prioritizing what truly matters. Jeremy advises business owners to always prioritize paying themselves and critical operational costs first, rather than focusing on the loudest or oldest bills. He emphasizes the significance of keeping the business alive by paying labor, materials, and overhead costs related to specific jobs before attending to secondary expenses like office rent and utilities. Listeners are encouraged to combine these strategies with previous episodes' advice to develop a robust bill pay strategy and protect their financial health. Jeremy concludes by hinting at next week's topic on managing debt.

00:00 Introduction to the Contractor's Profit Hack Show

00:24 Bill Pay Strategy and Prioritization

00:43 Personal Story: Wrestling and Priorities

06:50 Applying Priorities to Business

08:48 Practical Bill Pay Tips

12:52 Conclusion and Next Steps

https://www.foundationacs.com/

In this episode of the Contractor's Profit Hack Show, Jeremy Lott discusses the importance of having a strategic approach to paying bills for construction companies. Drawing from a personal anecdote about a rockhounding expedition that led to a lesson in priorities, Jeremy emphasizes understanding the repercussions of not paying specific bills. He explains how to prioritize payments to ensure business survival, focusing on the criticality of paying labor and suppliers over banks. This is the first step in a comprehensive bill pay strategy, with more details to follow in the next episode.

00:00 Introduction and Background

00:24 Welcome Back to the Contractor's Profit Hack Show

00:54 The Importance of a Bill Payment Strategy

01:40 Rockhounding Adventure: A Lesson in Prioritization

08:28 Applying the Lesson to Bill Payments

12:16 Conclusion and Next Steps

https://www.foundationacs.comWelcome back to the Contractor's Profit Hacks Show with Jeremy Lott. In this episode I share an important personal story about my wrestling journey to highlight the excitement and satisfaction of reaching milestones. I then dive into the final step of the Profit First methodology: celebration. You've adjusted your mindset, set up multiple bank accounts, allocated your percentages, and disciplined yourself to follow the plan. Now it's time to celebrate! By setting aside money for celebration once a quarter, you can make the process rewarding and fun, keeping you motivated and making saving worthwhile. Whether it’s a small treat like dinner or a larger goal like a vacation, celebrating your profits is essential. I recommend reading 'Profit First' by Mike Michalowicz for more insights. Thank you for tuning in, and we'll see you next time!00:00 Introduction and Welcome00:43 A Personal Story of Triumph03:58 Steps to Implement Profit First04:50 The Importance of Celebration07:01 Recap and Final Thoughts

https://www.foundationacs.com

Welcome back to the Contractor's Profit Hacks! I'm Jeremy Lott, and today we're diving deeper into the Profit First system. Building on previous discussions about mindset, Parkinson's law, and setting up various bank accounts with designated percentages, today's focus is on the essential discipline required to manage these accounts effectively. Using a personal story of rafting mishaps to illustrate the importance of adherence to rules, I emphasize the need for disciplined financial management. Follow Profit First by regularly transferring funds from your income account to specific accounts for profit, taxes, payroll, and operating expenses. Resist the temptation to dip into your profit account for other expenses. For added security, consider setting up a separate savings account at another bank for your profit funds. Stay disciplined and come back next episode for the final and best step in the Profit First series.00:00 Introduction to Contractor's Profit Hacks00:58 The Importance of Discipline in Profit First04:53 Implementing Profit First: Practical Steps08:05 Final Thoughts and Next Steps

https://www.foundationacs.comIn this episode of the Contractors Profit Hacks Show I discuss actionable techniques to implement the Profit First method. I share a personal story about my childhood that illustrates the importance of fair division of tasks. I outline the first step of implementing Profit First, which involves setting up separate bank accounts for different expenses, such as income, profit, direct costs, overhead, and taxes. I emphasize the importance of assigning a purpose to each dollar by calculating the percentage of revenue each account will hold. By following these steps, contractors can organize their finances and prepare for further steps in the Profit First journey.00:00 Introduction to Profit First00:58 Childhood Story and Lessons on Responsibility03:25 Dividing Finances: The Envelope Method04:44 Setting Up Your Profit First Bank Accounts07:24 Allocating Percentages to Each Account09:34 Conclusion and Next Steps