S2 E26 - Q&A Episode: When to Hire a Fractional CFO and More!

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Beers With Contractors

Beers with Contractors

99 episodes

5 days ago

Welcome to Beers with Contractors. We're cracking a cold one and taking a deep dive into the foundations of your construction business, pun intended, to unearth the strategies, techniques, and insider knowledge that can take your contracting business to the next level. So, grab your favorite beer, pull up a seat, and let's have a chat about the nuts and bolts of the construction industry.

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S2 E26 - Q&A Episode: When to Hire a Fractional CFO and More!

Beers With Contractors

54 minutes 15 seconds

4 months ago

S2 E26 - Q&A Episode: When to Hire a Fractional CFO and More!

In this QA episode of Beers with Contractors, hosts Will and Terry, along with producer Drake, tackle a range of topics vital to contractors. They dive deep into the differences between hourly and piece rate pay, offering advice on moving towards a piece rate system while highlighting legal and compliance issues. They discuss the importance of sound bookkeeping, job costing, and asset management, sharing personal anecdotes and practical tips. The episode covers the entrepreneurial operating system (EOS) and its significant benefits for business operations. They also explore effective financing options for sales teams and the role of AI in future inside sales tasks. The episode wraps up with a lively discussion on the pros and cons of detailed proposals and how to effectively use van wraps for business branding.

00:00 Trailer

01:37 OSHA Violations and Property Management Stories

03:23 Controller vs. Fractional CFO: Financial Strategy Discussion

11:48 Implementing EOS: Challenges and Benefits

20:13 Asset Management and Depreciation

21:11 Foundation Rescue Supply: Partnering for Business Growth

29:07 Navigating the Complex World of Taxes

29:48 The Importance of Simplifying Proposals

32:06 The Role of Detailed Record Keeping

35:43 Understanding Piece Rate and Its Implications

39:58 Exploring Different Pay Models

43:33 Effective Financing Options for Sales Teams

47:37 The Future of AI in Inside Sales

52:08 Conclusion

Foundation Rescue Supply Link:

https://www.foundationrescuesupply.com/

Contractors Kick Ass!

Podcast Store Link:

https://williamwalkerblake.com/store-1

The Worker Incentive Program that Contractors Love! - Per4mance Software https://per4mance.io - Pay for performance, not hours